Commonwealth Updates Client Management Tool

Financial advisers affiliated with Commonwealth, an independent broker/dealer–RIA, can access portfolio, document, customer relationship, and wealth management functionality on one platform, including an improved portfolio accounting system and redesigned interface.

In a single portfolio management overview screen, advisers can view household activity summary, asset allocation, performance, historical balance trending, as well as trading and intraday positions/cash balances. Exporting data via silent login to both Morningstar Advisor Workstation and MoneyGuidePro has been streamlined as well, the company said.

Advisers have access to both time- and dollar-weighted performance reporting on all accounts, including fee-based and non-fee-based accounts (e.g., 529 plans, variable annuities, REITs, managed futures). Commonwealth says performance reports are updated daily, allowing advisers to quickly view how a household, group of accounts, or single account has performed against its respective customizable benchmark.

Other features of Client360 include:

• More than 50 new customizable reports, including user-defined templates that can be shared across an office
• 1-Click Review bundles, allowing users to bundle together report templates for client reviews
• A user-selectable 20+ column holdings page
• Improved variable annuity sub-account mapping to Morningstar Advisor Workstation
• Five levels of household/account grouping
• 11 distinct ways to dissect a client’s asset allocation