Password Change: Does this have to be approved by Freedom or is it automatic?
Automatic. There is a Forgot Password link that can be used to update a forgotten password or an Advisor User can change their password at any time in the Preferences feature, and a Client User can change their password by clicking on the upper right dropdown.
What is the difference between Managed/Discretionary/Unaffiliated Cash?
These are the 3 portfolio types on the platform. All holdings will be contained in a portfolio.
- Managed: These portfolios are managed investments where all managed models will appear. Each model in an account will be its own portfolio.
- Discretionary: Holdings held outside a managed model, such as a concentrated stock position or held away account. This is also where incoming and outgoing transferring securities will appear.
- Unaffiliated Cash: Cash held outside either of the other 2 portfolio types, typically for paying fees or as a reserve or funds flowing in and out of the account.
Can I download the data within a dashboard, such as performance?
The Reporting Center is the place to access download functionality. Additionally, within the platform on most page views you can right click and export the data, but not on your Dashboard.
How does the billing work on concentrated stock positions?
Currently, the Freedom Platform Fee is not charged on assets in Discretionary portfolios. By default, the Advisory Fee is charged on all Discretionary portfolio assets but you may choose to not charge your Advisory Fee on assets in Discretionary portfolios. No fees will be charged on Unaffiliated Cash.
Will we upload the client’s custodial statement into the Documents Vault?
Yes, for most custodians.
If I want to work with one of the other custodians available, how will that work?
Everything looks precisely the same unless you go to “Open New Account” in the Service Center. In that workflow is a dropdown to select the custodian, the result of which is slight differences in the data requirements and then of course the right custodian paperwork goes in the Docusign package at the end. The same household view can have accounts at different custodians plus held away accounts and they all appear in the same place in the same look. **Some models are only available on certain custodians, so when first exploring whole share custodians confer with your Freedom Business Consultant, as the model minimums can be much higher.
Where can I see client fees?
The fees charged to each client is found in Documents>Statements & Reports>Freedom Performance Reports. Each monthly performance report includes as the last page the precise fees charged to the account in the prior month. You can pull timelines of fees billed by generating a report for Transactions on the client contact by clicking upper right on Generate Report. You can see specific fee amounts by pulling the Advisor Billing Summary in the Reporting Center.
Where do tags and notes go?
Tags can be entered within the Contacts Center in Advanced Search (“Adv. Search” button upper right) or at the bottom of the Households tab within Details & Activities accessible upper right whether you are viewing a household, client or account. Enter a tag and then all related results appear when you search. For example, if you enter Golfer, all those households for which you have entered the tag Golfer will appear when you search that word.
Notes are static and stay wherever entered and get accessed when you go there. For example, if you enter notes in Client Info in Details & Activities, the note stays right there.
I have to create clients first, then create the household. Is it possible to do both at once?
Good idea as a future enhancement. We have added it to the list.
Are we able to include account type in the column customize options on the Contacts tab?
Good idea as a future enhancement. We have added it to the list. Meanwhile, within the Accounts view of a household you can click on “Type” in the left column heading and the accounts will sort by account type.
Why do some securities have a $0 price in Freedom Advisors when they have a price on the Goldman Sachs custodian statement?
The Freedom Advisors platform seeks daily securities valuations from a variety of sources. When there is a difference in valuation between various custodians and pricing services, a hierarchy of precedence is applied.
How is net performance calculated?
Net performance is gross performance minus the account’s actual fees and tax expenses. The fees include the Advisory Fee, Freedom Platform Fee, and Investment Management Fees. The Investment Management Fees for this net performance calculation do not include the operating expenses within pooled vehicles, such as mutual funds and exchange traded funds; those fees are already deducted before the account’s gross performance is determined. An example of tax expenses would be a foreign tax on a dividend. Tax expenses do not include withholdings. For example, if the client withdraws $8,000 from their IRA and there is government withholding of $2,000, it is simply an $8,000 withdrawal and the withholding is not deducted from gross performance.