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Money Managers

All Professional Financial Advisors are considered to be Wealth Managers. As a Wealth Manager, you can optionally add Money Managers to trade for your client accounts. Money Managers direct trading and investment activity in client accounts. They cannot add client accounts, fund client accounts, set client fees or set client trading permissions.

A Money Manager must first complete a separate Money Manager account application. Once a Money Manager’s account is activated, you can add him or her to your Advisor account, then assign client accounts to the Money Manager for trading purposes, set trading permissions and set client fees. Both Money Managers and Wealth Managers can trade for client accounts.

To add a Money Manager

  1. Access the Money Manager Marketplace and shop for available Money Managers. Either contact a Money Manager directly or request that a Money Manager contact you.
  2. Once you and the Money Manager have agreed to do business together, add the Money Manager to your account by using the Add button in the Money Manager Marketplace. You can also add a Money Manager on the Settings > Account Settings > Money Manager page if you know the Money Manager's Account ID.

Note: Money Managers must log into Account Management with their username and password to accept assignments from Wealth Manager on the Wealth Manager Assignment page (only Money Managers can view this page).

  1. Set Up a Client Fee Schedule - This fee schedule represents the fees that will be paid to you, the Wealth Manager, when you trade for client accounts. Typically, you will have already done this for your client accounts on the Manage Clients > Fees > Configure page in Account Management.

You set up a separate fee schedule for a Money Manager when you set up the client accounts for the Money Manager in the next step.

  1. Set Up Client Accounts - After a registered Money Manager accepts your assignment, you can set up the client accounts for each Money Manager. This setup includes assigning client accounts to a Money Manager, setting trading permissions for the Money Manager and setting Money Manager client fees (fees that will be paid when the Money Manager trades for client accounts). The client setup process takes you through a series of pages in Account Management. You start the setup process on the Manage Account > Money Manager > Administration page in Account Management.
  1. Create a Client Fees Template - Optionally, create a common client fee schedule to for Money Managers without having to set client fees separately for each Money Manager. You can create a client fees template on the Manage Account > Money Manager > Administration page in Account Management.
  2. Fund Client Accounts - When you assign a client account to a Money Manager, we create a second version of the client account that is linked to the Money Manager. When you fund or transfer positions into a client account for a Money Manager, you are actually funding or moving positions into the linked client account.

Other Tasks You Can Perform as a Wealth Manager

In addition, Advisors acting as Wealth Managers can perform the following optional steps, all available on the Money Manager Assignment page in Account Management:

The Manage Account > Money Manager > Administration page in Account Management is shown below.


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