The changes are meant to help financial advisors streamline workflows for their clients.
Online broker Interactive Brokers has added trading and portfolio management tools to its web-based Advisor Portal that are intended to help financial advisors “streamline client account management,” officials say. The additional features emanate from the firm’s flagship Trader Workstation desktop platform.
The latest enhancements are:
- Portfolio View: This feature provides “an overview of client account performance, giving advisors the ability to drill down by individual positions or accounts. Advisors can choose to view values in the native currency of the security or account, or in their own master base currency;”
- Allocation Order: This function “allows a single stock order to be distributed across multiple accounts. Advisors can choose to customize the allocation themselves or can use one of 14 allocation algorithms;”
- Rebalance: This helps advisors “adjust multiple positions across multiple accounts using target allocation percentages.”
- Tax Loss Harvesting: This tool scans advisors’ client accounts for harvesting opportunities, “in accordance with U.S. tax laws;” and
- Models: “Advisors create their investment models, define their target positions and the tool generates orders to align selected client accounts to the target positions. Positions can be adjusted at any time and the model rebalance tool can realign client allocations as needed.”
Officials add that U.S.-based advisors “can now access the A.I. Commentary Generator,” a generative A.I. feature that “simplifies the creation of custom portfolio performance reports and market commentary.”
The Commentary Generator “is integrated with PortfolioAnalyst reporting and is designed to help – not replace – advisors with client portfolio performance reporting, market updates, and ticker-specific news,” officials say. “By combing through dozens of sources and citing them for the advisor’s convenience, the A.I. Commentary Generator conducts research in seconds that would otherwise take hours to complete.”
The AI Commentary Generator has four sections of content: portfolio summary; portfolio news and trends; macro update summaries via the Federal Reserve’s Beige Book; and economic and market outlook searches and summaries of publicly available information, officials say.
The Advisor Portal facilitates free, web-based access to other IT offerings such as Interactive Brokers’ PortfolioAnalyst, a client relationship management (CRM) dashboard, activity statements, QuickTrade, and Investors’ Marketplace, officials say.
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