Any symbols displayed within these pages are for illustrative purposes only, and are not intended to portray any recommendation.

Transcription

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2 Advisrs Getting Started Guide February Interactive Brkers LLC. All Rights Reserved Any symbls displayed within these pages are fr illustrative purpses nly, and are nt intended t prtray any recmmendatin.

3 Cntents Cntents i Advisrs Getting Started Guide 5 Getting Started as an Advisr 5 Must Cnsider: 5 May Want t Cnsider: 6 Lg In t Accunt Management 7 Failed Lgin Attempts 8 Autmatic Lgff 8 Secure Lgin System 8 Funding 11 Master Accunt Funding 11 Trading Accunt Funding 12 Direct Funding 12 Transferring Funds frm the Master Accunt 14 Initial Funding fr Client Accunts 15 Client Accunts 17 Client Applicatins 17 Fully Electrnic Accunt Applicatin 18 Semi-Electrnic Accunt Applicatin 20 Specify Client Fees 22 Advisrs Getting Started Guide i

4 Cntents High Water Marking 26 Trading Permissins 27 Client Accunt Funds Status 27 Dashbard 27 Client Accunt Details 29 Additinal Advisr Authrizatins 31 Trading 35 Subscribing t Market Data 35 Lg in t TWS 36 Add Market Data 36 Define Allcatin Grups and Methds 37 Accunt Grups 37 Create Allcatin Prfiles 39 Set Allcatin Defaults 40 Trade and Allcate fr Clients 42 Real-time Activity Mnitring 44 View Accunt Balances 45 Real-time Margin Mnitring 45 Mnitr Margin Requirements 46 Try PM 47 Margin Warnings 47 View Available fr Trading Values 47 Advisrs Getting Started Guide ii

5 Cntents View Market Value 48 View FX Prtfli Values 48 View Prtfli Values 49 The Right-Click Prtfli Menu 49 Reprting 51 Activity Statements 51 Custmized Activity Statements 53 Third-Party Dwnlads 53 Trade Cnfirmatins 54 Flex Queries 55 Margin Reprts 55 Stress Test Reprt 56 Value at Risk Reprt 56 Advisr Fee Cap Reprt 56 Client Summary Reprt 57 P/L Markup Summary Reprt 57 PrtfliAnalyst 57 Statement Access fr Clients 58 Other Features 59 Opening a Paper Trading Accunt 59 Reset Paper Trading Accunt 60 Paper Trading Accunt Statements 62 Advisrs Getting Started Guide iii

6 Cntents Advisr White Branding 62 Enabling Additinal Traders 64 Additinal Advisr Authrizatins 67 Custmer Activity Mnitr 69 Mney Managers 70 Other Tasks Yu Can Perfrm as a Wealth Manager 72 Mney Manager Marketplace 73 Investrs' Marketplace 74 Advertise Yur Services 75 Administratrs 76 Administratr Marketplace 76 Managing Administratrs 77 Index 79 Advisrs Getting Started Guide iv

7 1 Advisrs Getting Started Guide Getting Started as an Advisr This Getting Started guide prvides an verview f the tasks yu will want t cmplete as a new IBKR Advisr. This guide is designed as a reference fr new users and cmprises a very small subset f the infrmatin and features available t yu thrugh IBKR. The guide assumes the fllwing: That the Master accunt has been apprved and funded. That yu are the Advisr master. That yu pened a trading accunt fr yur wn persnal trading. Must Cnsider: Understand hw t Lg In t the Advisr Prtal Activate yur Secure Lgin System device Understand the prcess and timing f accunt funding, including: Master Accunt Funding Trading Accunt Funding Initial Funding fr Client Accunts Add and manage client accunts: Trade: Add Client Accunts Specify Client Fees Set Trading Permissins View Client Accunt Funds Status Use the Dashbard t view and manage client accunts Link Client Accunts Add Client Templates Subscribe t Market Data Advisrs Getting Started Guide 5

8 Chapter 1 May Want t Cnsider: Lg in t TWS Add Market Data Lines Define Allcatin Grups and Methds Trade and Allcate fr Clients Use Real-time Activity Mnitring Familiarize yurself with activity statements and ther features f ur reprting system May Want t Cnsider: Opening a Paper Trading Accunt White Branding Enabling Additinal Traders Additinal Advisr Authrizatins Custmer Activity Mnitr Mney Managers Investrs' Marketplace Adding Administratrs Advisrs Getting Started Guide 6

9 2 Lg In t Accunt Management There are tw ways t access Accunt Management: Lg in frm the IBKR website. Access the hme page frm the Trader Wrkstatin. T lg in t Accunt Management frm the IB website 1. Frm IBKR s website, select Accunt Management frm the Lgin drpdwn list in the upper right crner. 2. Enter yur IBKR Username and Passwrd, and click Lgin. The Advisr Prtal pens. Advisrs Getting Started Guide 7

10 Chapter 2 Failed Lgin Attempts T access Accunt Management frm Trader Wrkstatin 1. Lg in t Trader Wrkstatin. 2. Frm the Accunt menu, select Accunt Management Hme. The Accunt Management hme page pens. Fr mre infrmatin Failed Lgin Attempts Autmatic Lgff Failed Lgin Attempts After ten failed lgin attempts in 24 hurs, yur Accunt Management lgin will be disabled. If this happens, cntact Custmer Service. Autmatic Lgff If yu are lgged int Advisr Prtal and the system detects n activity fr 30 minutes, yur sessin will autmatically expire and yu will have t lg back in. A message appears warning yu that yu will autmatically be lgged ut withut further activity. Once yur sessin expires, anther message appears infrming yu that yur sessin has expired and yu have been lgged ut. Yu must re-lgin t start a new sessin. Secure Lgin System Once yur accunt is apprved and funded, IBKR will mail yu a Secure Lgin Device at the address yu specified in yur applicatin. Yu will need t use this device anytime yu lg in t TWS r Advisr Prtal. This added level f security helps t ensure that yur IBKR accunt infrmatin remains secure. Please nte that yur device must be activated befre yu can use it. Yu have 14 days frm the day we mail yu yur IBKR Security Device t activate the device in Advisr Prtal. After 14 days, yu are required t use the device t lg int Advisr Prtal and Trader Wrkstatin. If yu receive the device befre 14 days, yu can access Advisr Prtal and Trader Wrkstatin withut Advisrs Getting Started Guide 8

11 Chapter 2 Secure Lgin System using the device until yu activate it r until 14 days have passed. Once yu activate the device, yu must use it t lg int Advisr Prtal and TWS. If yu use a smartphne, yu can als chse t use IB Key via IBKR Mbile, ur digital security device. Fr mre infrmatin, see ur Users' Guide. T activate yur Secure Lgin Device 1. Lgin t Advisr Prtal. 2. Click Settings > > User Settings > Security > Secure Lgin System. 3. Fllw the instructins n the screen t activate yur security device. Fr mre infrmatin T learn mre abut ur Secure Lgin System, including detailed instructins n hw t use each type f security device, see the Accunt Management Users Guide. Advisrs Getting Started Guide 9

12 Advisrs Getting Started Guide 10

13 3 Funding Yur Advisr accunt structure cntains multiple accunts at different levels, and can include multiple users wh have permissins t manage ne r multiple accunts. The Master accunt is used t receive client fees, t receive and pay cmmissins n allcated trades, and t pay market data and ther fees. This sectin includes the fllwing tpics: Master Accunt Funding Trading Accunt Funding Initial Funding fr Client Accunts Fr mre infrmatin Shrt Vide - Funding fr Advisrs Fr cmplete infrmatin n accunt funding, see the Funding Reference n ur website. Master Accunt Funding While it is nt mandatry t fund the master accunt, we recmmend yu d this because certain fees, including market data fees, are withdrawn directly frm the master accunt. Shuld yur master accunt accrue a negative balance at any time, market data will be terminated. We suggest funding the master accunt with a minimum f $500.00, r the estimated amunt f ne year s market data fees. T depsit funds int yur IBKR accunt, lg in t the Advisr Prtal, then click Transfer & Pay > Fund Transfers. Fr mre infrmatin n depsiting funds, see the Depsiting Funds tpic in the Funding sectin f the Accunt Management Users Guide. Fr mre infrmatin Fr cmplete infrmatin n accunt funding, see the Funding Reference n ur website. Advisrs Getting Started Guide 11

14 Chapter 3 Trading Accunt Funding Trading Accunt Funding Many Financial Advisrs elect t pen a 'trading accunt' during their master accunt applicatin. There are tw ways t fund yur trading accunt: Fund the trading accunt directly (IB recmmends this ptin). Depsit funds int the master accunt, then transfer funds t the trading accunt. Fr mre infrmatin Fr cmplete infrmatin n accunt funding, see the Funding Reference n ur website. Direct Funding In rder t fund yur trading accunt, IBKR recmmends funding the accunt directly thrugh ne f ur available banking methds, such as Wire, Check, etc. T depsit funds directly int yur trading accunt 1. Lg in t yur Master accunt via Advisr Prtal. 2. Click Transfer & Pay > Fund Transfers. 3. Frm the tp f the page, select the Depsit Funds tab. 4. Select yur currency frm the Currency list. 5. Frm the Methd list, select a depsit type (Wire, Check, and s n). Advisrs Getting Started Guide 12

15 Chapter 3 Direct Funding 6. Type the amunt f yur intended depsit in the Amunt field. 7. Select ne f the fllwing: Yes - Use saved bank infrmatin fr new transfer request Select this ptin if yu want t use previusly saved bank infrmatin fr this depsit request. N - Create new transfer request with new bank infrmatin Select this ptin if yu want t save new bank infrmatin fr this depsit request. This ptin is autmatically selected if yu d nt have any saved any bank infrmatin. N - Create new bank infrmatin nly Select this ptin if yu nly want t create new saved bank infrmatin withut transferring any funds (fr example, if yu are a nn-us custmer wh is clsing an accunt). 8. If yu select either N ptin, cmplete all the fields that appear, which vary depending n the withdrawal methd yu selected. The fields vary depending n yur previus selectins. Be sure t enter a Name fr the bank instructin that will be saved with yur bank infrmatin. Yu will be able t use this bank instructin fr future depsit ntificatins withut having t re-enter yur bank infrmatin. 9. Verify that all depsit infrmatin is crrect and make nte f any special instructins that appear n the screen. Fr example, fr a wire depsit, yu will have t instruct yur bank t wire the funds t the institutin shwn n the screen. Fr a check depsit, yu will have t mail yur check with a cpy f the cnfirmatin screen t the address shwn n the screen. 10. Decide if yu want t save the infrmatin as a recurring transactin. If yu wuld like t save this as a recurring transactin, click Yes, then cmplete all the fields and selectins in that sectin. 11. Click Cntinue t submit yur depsit ntificatin. Or click Cancel t cancel the transactin. Advisrs Getting Started Guide 13

16 Chapter 3 Transferring Funds frm the Master Accunt Depending n the type f depsit ntificatin yu selected, a page appears with additinal instructins that describe what yu need t prvide t yur bank t cmplete the actual depsit f funds. Transferring Funds frm the Master Accunt Yu can als use the Fund Transfers page in the Transfer & Pay menu in the Advisr Prtal t transfer cash frm the Master accunt t yur persnal trading accunt. Funds which are depsited t the master accunt are subject t ur stated hld perids. This culd cause a delay in the prcessing f an internal transfer t yur trading accunt. IBKR recmmends funding the trading accunt directly T transfer funds frm the Master accunt t yur trading accunt 1. Lg in t yur Master accunt via Advisr Prtal. 2. Click Transfer & Pay > Fund Transfers. 3. Select the Master accunt in the Accunt Selectr at the tp f the page. The master accunt is identified with the prefix F and sub accunts with the prefix U. 4. Frm the tab menu, select Internal Transfer. Then, select the destinatin accunt. The Internal Funds Transfers sectin appears. Advisrs Getting Started Guide 14

17 Chapter 3 Initial Funding fr Client Accunts 5. In the Transactin Infrmatin sectin, select the currency and enter the amunt t transfer. 6. Click Cntinue. Click Cancel at any time t cancel the transactin. 7. Verify that the details f the internal funds transfer are crrect, then click Cntinue. Yu will immediately receive an ntificatin cntaining a cnfirmatin number. Enter the cnfirmatin number where indicated n the Internal Funds Transfer page, then click Cnfirm. If yu did nt receive a cnfirmatin number, click Resend Cnfirmatin Number t receive a new ne. Initial Funding fr Client Accunts The prcess f funding client accunts is the same as depsiting funds int the master accunt. Fund depsits int client accunts can be made in a number f ways, including Wire, Check, ACATS, and s n. T prevent any delays in an accunt's funding, it is imprtant that yur clients cmplete the funding infrmatin prtin f applicatin. In additin, it is imprtant fr bth yu and yur client t understand the credit perids fr depsits as this will determine when yu will be able t start trading. The credit perid varies based n the depsit methd. Fr example, checks require seven business days after they are depsited, while a wire transfer may be credited as quickly as the same day. While IBKR des nt require that a client set up banking instructins at this time, we recmmend that advisrs encurage their clients t d s. This will help prevent any ptential future delays when clients Advisrs Getting Started Guide 15

18 Chapter 3 Initial Funding fr Client Accunts want t withdraw funds. Once banking instructins have been created in Advisr Prtal, advisrs can use them t prcess withdrawals n the client s behalf. Fr mre infrmatin Fr cmplete infrmatin n accunt funding, see the Funding Reference n ur website. Advisrs Getting Started Guide 16

19 4 Client Accunts This sectin details the steps that yu will need t take t add client accunts, specify fees and cnfigure trading permissins. The fllwing tpics are included: Add Client Accunts by having yur clients submit an applicatin t IB. Specify Client Fees Set Trading Permissins View Client Accunt Funds Status Manage client accunts using the Dashbard Fr mre infrmatin T learn mre abut adding and cnfiguring client accunts, see the Accunt Management Users' Guide. Client Applicatins T trade fr yur clients, yu must first add them t yur Advisr accunt. As the Advisr Master, yu are the nly ne wh can add clients t yur Advisr accunt. Adding a client requires that yu: Add an accunt by having the client apply fr an IBKR accunt. Cnfigure client fees Set trading permissins Have the client fund the accunt Check client accunt funds status T add an existing IBKR custmer as an advised client, the client needs t lg int their accunt and select Create, Mve, Link r Partitin an Accunt frm the Settings >Accunt Settings sectin. Nte that requests t link accunts must be apprved by advisrs prir t 2:00 PM n Friday. Thse requests which are apprved will be prcessed every Friday at 3:00 PM. Advisrs Getting Started Guide 17

20 Chapter 4 Fully Electrnic Accunt Applicatin Advisrs have tw ptins fr cmpleting client applicatins; hwever, sme may be limited t the fully electrnic methd due t regulatry and ther cnsideratins. Decide which methd t use based n the characteristics and preferences f yu and yur client: Fully Electrnic (fr fastest prcessing) - Yu send an invitatin t yur client, wh cmpletes an electrnic applicatin nline. Advisrs can create client accunt templates in the Advisr Prtal t save and re-use certain infrmatin fr new client accunt applicatins. Semi-Electrnic with paper signature - Yu and yur client cmplete an electrnic applicatin nline. At the end f the prcess yu print the applicatin fr yur client t review and cmplete the depsit instructins and the security questins and answers sectin. The client then signs the applicatin and sends it t IBKR Accunt Prcessing. Yu can lg int the Advisr Prtal at any time t see the status f yur clients' applicatins. Advisrs wh want t pen additinal accunts fr themselves at a later time must use ne f the three methds listed abve. In all cases, the cmpleted applicatin must be sent t IBKR fr prcessing. Fr additinal infrmatin n all f the applicatin methds, see the Add an Accunt tpic in the Accunt Management Users Guide. Fully Electrnic Accunt Applicatin If yu are an Advisr Master User, yu can send an invitatin t yur client, wh then cmpletes an accunt applicatin electrnically. T send an invitatin t a client t start an electrnic applicatin 1. Frm the Cntacts tab in the CRM hme dashbard click the dcument icn Send Applicatin Invite. Advisrs Getting Started Guide 18

21 Chapter 4 Fully Electrnic Accunt Applicatin 2. Click Fully Electrnic Applicatin, then Cntinue. The Advisr Client Invitatin page pens. 3. Enter the client's name and address 4. If the advisr has accunt representatives cnfigured, ptinally assign t the client. 5. Select the type f fees fr the client: N Fee - An advisr chses nt t charge his r clients a fee fr services rendered. Autmatic billing - A calculated fee is autmatically billed t the client's accunt with blanket client authrizatin. Be aware that Autmatic Billing is subject t certain caps and limitatins. Advisrs can chse ne f several client fee methds: Annualized Percentage f Net Liquidatin Value Annualized Flat fee Percent f Prfit and Lss (P&L) Fee per trade unit Mnthly/Quarterly Invicing - Advisrs can submit electrnic invices fr client fees. Invices can be submitted fr up t ten clients at a time, but nly ne invice can be submitted per client accunt per day. Advisrs can als uplad a.csv file that cntains multiple client invices. Click here fr autmatic billing examples. Advisrs Getting Started Guide 19

22 Chapter 4 Semi-Electrnic Accunt Applicatin Direct billing - The Advisr bills the client directly.we will nt remve funds frm the client's accunt. Regardless f the methd chsen, advisrs determine the fees at the time f the client s registratin, and can mdify them at any time. Advisr clients are required t acknwledge any fee increase with a signature. In additin t the advisr client fees specified, clients will be charged a fee per trade cmmissin fr executin and clearing services prvided by us. 6. Click Cntinue. 7. Review the invitatin infrmatin, then click Cntinue. An is sent t the client, inviting him r her t cmplete an accunt applicatin electrnically. Semi-Electrnic Accunt Applicatin f yu are an Advisr Master User yu can add an accunt using a semi-electrnic applicatin. T start a semi-electrnic applicatin Advisrs Getting Started Guide 20

23 Chapter 4 Semi-Electrnic Accunt Applicatin 1. Frm the Cntacts tab in the CRM hme dashbard click the dcument icn Send Applicatin Invite. 2. Select Semi Electrnic Applicatin type, then click Prceed T Applicatin. The first page f the electrnic registratin system appears. Advisrs Getting Started Guide 21

24 Chapter 4 Specify Client Fees 4. Fllw the instructins n the screen t cmplete the electrnic applicatin. Yur prgress during the prcess is displayed in the left pane, shwing yu the steps yu have cmpleted and the steps yu have yet t cmplete. 5. When yu have cmpleted the electrnic applicatin prcess, print the cmpleted applicatin and send it t yur client fr his r her signature. Specify Client Fees Yu can elect t charge yur clients fr services rendered thrugh ne f ur available billing methds. Yu specify advisr fees at the time f yur client s registratin, but yu can mdify r add them at any time n the Cnfigure Fees page in the Advisr Prtal. All fee mdificatins must first be submitted electrnically and will becme effective nly after the agreement has been received and prcessed by us. Please nte that fee changes are nt retractive. Client fee schedules can be applied t accunts individually r can be stred in templates. As an advisr, yu can cnfigure fees fr ne r mre client accunts, r set up client fee schedules in templates, then assign the templates t client accunts. The use f templates allws yu t easily maintain different fee schedules fr multiple client accunts. If yu are a new advisr (i.e., yu just pened yur IB accunt), then there will be a blank default client fee template, which yu can then cnfigure with yur wn fee schedule. Advisrs Getting Started Guide 22

25 Chapter 4 Specify Client Fees Yu set client fees in hme CRM dashbard Fee Administratin > Cnfigure Client Fees page. On this page, yu can: View and srt all client accunts. Select ne r mre client accunts, then view (and if necessary, mdify) the current fee schedule fr thse accunts. Select ne r mre client accunts, then cnfigure and apply a fee schedule t thse accunts. Select ne r mre client accunts, then apply a previusly saved client fee template t thse accunts. Charge all cmmissins fr a client accunt t the Advisr accunt by clicking the Charge Cmmissins t Advisr Accunt check bx. Nte that if the Advisr Master accunt balance is belw $1000 when the cmmissins need t be psted, then the cmmissin will be charged t the client accunt. Autmatic billing is calculated and autmatically billed t the client s accunt by IBKR. We ffer a variety f methds that can be used, including Percentage f an accunt's value, Percentage f P&L, r a Flat Fee. Yu can als: Advisrs Getting Started Guide 23

26 Chapter 4 Specify Client Fees Apply High Water Marking t the billing perid client fees t ffset perids f lsses in a vlatile market. Add a perfrmance fee threshld t set a static number r index/benchmark as a perfrmance fee n an annual r quarterly basis. Yur client's perfrmance must exceed the threshld fr the fee t be assessed t the client. If yu chse t use N Fee, IBKR is nt invlved and yu are respnsible fr billing yur client(s) directly. Yu can als charge minimum mnthly fees and IRA accunt fees fr their clients t yur Advisr Master accunt. Click Manage Clients > Fees > Charge Fees t Master t select this ptin. Setting Maximum Invicing Amunts r Percentage Caps When yu cnfigure client fees r create a client fee template, yu can include a maximum invicing amunt r percentage cap n a mnthly r quarterly basis. The percentage cap is the maximum percentage f the amunt f a client accunt's Net Asset Value (NAV) t be inviced. Yu can set an amunt r a percentage cap r bth. If yu set bth the amunt and the percentage cap, we will use the lwer f the tw amunts as the amunt t be charged. Fr percentage cap, we lk back n the prir perid t calculate the fee limit, while amunt lks at the current perid. Electrnic Invices and Fee Reimbursements Fr electrnic invices, yu calculate the markup and submit an invice electrnically t IB n the Advisr Invicing page in Accunt Management, and that amunt will autmatically be transferred frm the client accunt t yur accunt. Invices submitted prir t 5:30 (17:30) PM EST will be prcessed the same day (U.S. night) and appear n that day's statements. Invices submitted after 5:30 (17:30) PM EST will be prcessed n the next business day. Submit invices fr up t ten clients per day, but nly ne invice per client accunt per day. Fr client accunts that have been cnfigured fr electrnic invices, yu can reimburse fees t client accunts up t a maximum f 50% f invices (net f any prir rebate) fr the trailing 12-mnth perid. Advisrs can als mdify r cancel pending fee reimbursements and view the details f fee reimbursements that have already been prcessed. Click Manage Clients > Fees > Invicing t cnfigure client invices and fee reimbursements. Advisrs Getting Started Guide 24

27 Chapter 4 Specify Client Fees Fr additinal infrmatin abut all ur available billing methds, see Advisr Client Fees tpic in the Accunt Management Users' Guide. Charge Cmmissins and Client Fees t the Advisr As an Advisr, yu can elect t charge client cmmissins t yur wn Advisr master accunt when cnfiguring fees fr a client accunt. Cmmissin charges will revert t the client accunt if the Advisr master accunt has a balance f less than 1000 USD r equivalent when the cmmissin charges are psted. By default, minimum mnthly fees, IRA accunt fees and market data and research fees are charged t Advisr client accunts. Hwever, Advisrs can elect t charge these fees t their wn Master accunt. Client fees will be charged t the client accunt if the Advisr master accunt has a balance f less than 1000 USD r equivalent when fees are psted. Charge Fees n Client Investments in Hedge Funds Yu can als charge fees n the current value f the amunt that yur clients have invested in hedge funds wh participate in ur Hedge Fund Capital Intrductin Prgram (HFCIP), which is part f ur Investrs Marketplace. If yu have already invested funds fr yur client at the Hedge Fund Investr Site (available at the Marketplace), the invested hedge fund will autmatically be enabled fr the fee prgram. Fr each client wh invests in a participating hedge fund, yu can charge fees based n the Annualized Percentage f Net Liquidatin Value f the current value f the client's investment in the Fund and/r the percentage f prfit and lss f the client's investment in the Fund, as well as cnfigure the fee psting frequency (mnthly r quarterly). Yur clients must apprve the fee schedule by signing a frm. T set fees based n the value f yur clients' Hedge Fund investments, click Manage Clients > Fees > HFCIP Fees. Fr mre infrmatin Shrt Vide - Managing Client Fees Advisrs Getting Started Guide 25

28 Chapter 4 High Water Marking High Water Marking Advisrs wh select Percent f P&L fr their client fees can apply High Water Marking t the billing perid client fees t ffset perids f lsses in a vlatile market. Yu set up High Water Marking when yu select Percentage f P&L in Autmatic Billing. High Water Marking lets an Advisr: Specify a lk-back perid (in quarters r years, based n the perid selectin in the Percent f P&L fee schedule). High Water Marking keeps track f cumulative lsses per billing perid within the specified lk-back perid. A lss in any perid will be added t the lk-back perid's cumulative lsses. A gain in any perid will decrease the cumulative lss recrded t date. By default, the lk-back perid is zer, which means n High Water Marking. Prrate fr withdrawals. If an advisr chses t prrate, withdrawals in the current perid reduce any cumulative lsses that are carried ver frm previus perids. The lsses are reduced in prprtin t the percentage f equity that was withdrawn. Nte that current perid lsses are never adjusted by current perid withdrawals, gains are nt prrated and depsits are nt used t prrate lsses. Optinally initialize High Water Marking with previus perids' lsses by entering the amunt f the lsses. These lsses may have been incurred fr the client in anther accunt r with anther brker. Gains are applied t the ldest lsses first. High Water Marking is effective n the day we prcess the apprved client agreement. If yu have assigned Mney Managers t direct trading and investment activity fr client accunts, then yu specify Wealth Manager fees as described abve, and have separate fee schedules fr Mney Managers. Wealth Manager fees are thse fees paid t yu when yu trade fr client accunts. Mney Manager fees are fees paid t a Mney Manager when he r she trades fr client accunts, and yu set thse client fees n the Mney Manager Assignment page in Accunt Management. Fr mre infrmatin, see Mney Managers. Advisrs Getting Started Guide 26

29 Chapter 4 Trading Permissins Trading Permissins Each client is respnsible fr cnfiguring the Trading Permissins n their accunt. Trading permissins identify the prducts the client wishes t trade and the cuntries in which he r she wants t trade them. Clients cnfigure their and trading permissins in Accunt Management by clicking Settings > Accunt Settings > Trading Permissins. Fr mre infrmatin T learn mre abut trading permissins, see the Chsing and Cnfiguring Yur Accunt page n ur website. Client Accunt Funds Status Yu can check the funds status f yur client accunts at any time using the CRM dashbard in the Advisr Prtal. Select the accunt using the cntacts tab in the dashbard. When yu select a cntact, a tab menu appears that includes PrtfliAnalyst and Margin Requirements. Use these tabs in the client dashbard t view their NAV, Reprts and Margin implicatins. Dashbard The Advisr Prtal and the Custmer Relatinship Management Dashbard (CRM) allws Advisrs t easily stre and view infrmatin abut all f their cntacts, including clients, prspects, frmer clients and ther persnal and prfessinal relatinships. The database-driven CRM is a cnvenient way fr Advisrs t view all current clients, prspective clients and ther cntacts frm a single screen in The Advisr Prtal, and t turn a prspect int a client. Yu can easily navigate within the Advisr Prtal t manage existing client accunts. Every recrd in CRM is cnsidered a "cntact" and yu can designate cntacts as being f a certain type (prspects, clients, etc.). CRM allws yu t create and stre s, ntes, tasks and dcuments fr each cntact. We d nt stre r have access t yur s, ntes and tasks; they are stred at Rackspace, a third-party clud management slutin prvider. Wh can access the Advisr Prtal page? Advisrs Getting Started Guide 27

30 Chapter 4 Dashbard Yu can access this page if yu are an Advisr Master User. Advisr Prtal Hme Page Individual CRM Cntacts Fr mre infrmatin, Advisrs Getting Started Guide 28

31 Chapter 4 Client Accunt Details Refer t the Accunt Management Users' Guide. If yu have any questins abut CRM and the Advisr Prtal, send us an at crm@interactivebrkers.cm. Client Accunt Details As an Advisr, yu can view the details f any f yur client accunts in frm the Dashbard in Accunt Management. Access accunt details fr any pen, pending, clsed r rejected client accunt by clicking Manage Clients > Dashbard, and then clicking any client accunt n any tabbed page in the Dashbard. On the Client Accunt Details page, yu can: Drill dwn t accunt details fr any client accunt. View pending items fr a client accunt. Edit accunt alias, advisr fees, and ther settings fr a client accunt. Run activity statements and PrtfliAnalyst reprts fr a client accunt. Print client accunt details. Delete an applicatin fr a pending client accunt. Generate a PDF versin f the client accunt applicatin. View all registratin tasks fr a client accunt. Quickly return t the main Dashbard page by clicking yur master Accunt ID in the breadcrumb link lcated in the middle f the tp f the page. Advisrs Getting Started Guide 29

32 Chapter 4 Client Accunt Details Advisrs Getting Started Guide 30

33 Chapter 4 Additinal Advisr Authrizatins Additinal Advisr Authrizatins An advisr can get specific authrizatin frm a client t mdify additinal settings in the client accunt. These authrizatins are listed n the Client Accunt Details page fr pen and pending client accunts. Authrizatin Categries and Specific Tasks Here is a list f all f the tasks that an advisr can be authrized t perfrm in a client's accunt. The list is rganized by categry just as n the actual authrizatin frm. Nte that nt all f these tasks affect an peratin within Accunt Management. Authrizatin t Update r Change Accunt Infrmatin, Accunt Settings, Trading Permissins and Tax Frms: Change Accunt Inf (Name & Address, , Phne Number, Legal Residence, Mailing address, Persnal Inf, Emplyment Inf, Financial Infrmatin, Regulatry Infrmatin, Trading bjectives, Change trading permissins and prducts Change accunt settings (Base Currency, Accunt Type) View and change accunt frms and tax frms. W8/W9 functins Change Investr Categry (QIB, Accredited Investr, etc) Statement/Cnfirm Delivery Settings Trading Cnfiguratin Market Data Market Data Subscriber Status Alert Ntificatin Paper Trading Accunt Authrizatin t Prvide r Change Banking and Transfer Instructins ACH depsit infrmatin ACH and wire withdrawal bank infrmatin Psitin instructins fr ACATS and FOP inbund transfers Settlement instructins Authrizatin t Send Third Party Payments and Wires Advisrs Getting Started Guide 31

34 Chapter 4 Additinal Advisr Authrizatins Als allw withdrawals f cash and ACH t third parties in additin t named accunt hlder using third-party withdrawal system. Authrizatin t Vte Shares and Make Electins Regarding Psitins (des nt affect Accunt Management) Crprate Actins shuld be sent t the advisr nt the client. Prxy delivery and vting will be dne by the advisr nt the client. Authrizatin fr Special Prgrams and Alternative Investments Hedge Fund Capital Intrductin Prgram Agreement Hedge Fund Capital Intrductin Prgram investments and redemptins Enrll r un-enrll in the Stck Yield Enhancement Prgram Request t Send Electrnic Ntices, Cnfirmatins and Accunt Statements nly t Advisr Used by ur Cmpliance department in the event that an advisr wants t cntrl the address used fr the client accunt. T grant and view additinal advisr authrizatins 1. The advisr client lgs int Accunt Management and clicks Supprt > Paper Frms. 2. The advisr client prints, cmpletes and mails the frm t us t grant his r her advisr authrizatin t perfrm additinal specific accunt cnfiguratin tasks fr the client's accunt. Withut this authrizatin, the advisr nrmally is nt authrized t mdify these accunt settings. The advisr als has access t this frm n the Supprt > Paper Frms page. 3. Once the authrizatins are granted, the advisr can perfrm the additinal tasks and can click Manage Clients > Dashbard t drill dwn t the Client Accunt Details page fr the authrizing client. There will be a sectin n the page that lists all f the client accunt tasks that have been authrized by the client. Advisrs Getting Started Guide 32

35 Chapter 4 Additinal Advisr Authrizatins Advisrs Getting Started Guide 33

36 Advisrs Getting Started Guide 34

37 5 Trading The Trader Wrkstatin (TWS) is a rbust platfrm which allws access t a variety f pwerful trading tls. Infrmatin abut all f the tls which IB ffers can be fund n the Trader Wrkstatin Highlights page n the IB web site. This sectin f the guide will fcus n TWS basics and will shw yu hw t: Subscribe t Market Data; Lg in t TWS; Add Market Data Lines (ticker lines) t the TWS trading windw; Define Allcatin Grups and Methds in TWS; Trade and Allcate fr Clients using the methds yu defined; Mnitr clients trade activity, psitins and P&L, and accunt balances using ur Real-time Activity Mnitring tls. Fr mre infrmatin Fr cmplete infrmatin n Trader Wrkstatin, see the Trader Wrkstatin Users' Guide. Subscribing t Market Data We prvide real-time streaming market data fr free r at the price we are charged by the exchange. The Market Data Subscriptins screen displays yur current market data subscriptins, lets yu sign up fr additinal market data subscriptins such as NASDAQ TtalView and NYSE Open Bk, and lets yu unsubscribe frm market data. Nte that market data subscriptins are terminated if yu have nt lgged int Trader Wrkstatin fr 60 days. Fr mre infrmatin, refer t the Accunt Management Users' Guide. Advisrs Getting Started Guide 35

38 Chapter 5 Lg in t TWS Lg in t TWS The first time yu lg in t TWS, yu ll need t take a little time t ppulate yur screens with data, understand the different allcatin methds yu can use, and finally practice creating rders. We strngly recmmend that yu pen a paper trading accunt as described in Opening a Paper Trading Accunt t familiarize yurself with Trader Wrkstatin s many features withut accidentally submitting a trade. Yu can run TWS directly frm yur Internet brwser (recmmended), r dwnlad the sftware t yur PC and launch it directly frm yur desktp as a standalne applicatin. Fr mre infrmatin, see the Trader Wrkstatin page n the IBKR web site. T dwnlad and lg in t TWS fr the first time (Windws) 1. Frm the LOG IN menu in the upper right crner f the IB website, select TWS r TWS Latest frm the drp-dwn list. 2. Click the DOWNLOAD buttn n the TWS page that pens t install TWS n yur cmputer and t view dwnlad/installatin instructins. 3. When the installatin is cmplete, click the TWS icn n yur desktp t lg in. This launch methd is fast, but may ccasinally take a few secnds lnger when TWS r Java runtime updates are published. 4. In the Lgin bx, enter yur username and passwrd and click Lgin. Fr subsequent sessins, yu can lg in t TWS simply by clicking the TWS icn n yur desktp. Fr mre infrmatin T learn mre abut using the brwser-based TWS versus the standalne versin, see the TWS Users Guide. Add Market Data Next, yu ll want t add market data, r ticker lines, fr the prducts yu want t trade. Althugh yu can trade withut market data, we dn t recmmend it. Fr mre infrmatin Advisrs Getting Started Guide 36

39 Chapter 5 Define Allcatin Grups and Methds Fr mre infrmatin n market data in TWS, see the TWS Users Guide. Define Allcatin Grups and Methds IB ffers advisrs a number f ways t allcate trades acrss multiple accunts based n a single rder entry. By using ur Accunt Grups, yu can allcate t yur accunts by allwing IB t calculate the distributin based n: a specified percent change f an existing psitin, the amunt f available equity with lan value per accunt, the net liquidatin value per accunt, r as an equal split between all accunts in a grup. Additinally, using ur Prfiles, yu can manually define hw a trade will allcate rders amng a grup f accunts, by number r percent f shares. Fr mre infrmatin Accunt Grups Create Allcatin Prfiles Set Allcatin Defaults Accunt Grups Accunt Grups will autmatically calculate ratis and allcate rder shares t a pre-defined grup f accunts based n the selected allcatin methd. When yu create an rder and chse a grup, the rder uses the default methd t allcate shares amngst the accunts in the grup. T create an Accunt Grup 1. On the Edit menu, select Glbal Cnfiguratin. 2. On the Cnfiguratin screen, click Advisr in the left pane t expand that selectin, then select Accunt Grups. 3. Click the Create buttn n the right side f the windw. 4. Enter a Grup name. D nt use the name "All" since this is reserved by the system. Nte: Yu may want t include a prefix such as "AG" in the name t identify the chice as an Accunt Grup when it appears in the rder selectin list. Advisrs Getting Started Guide 37

40 Chapter 5 Accunt Grups 5. Select a default allcatin methd. Yu can change the allcatin methd fr each rder. Select frm ne f the fllwing: PctChange - This methd increases r decreases an already existing psitin by the specified percentage. D nt specify an rder size. The quantity is calculated by the system and is displayed in the Quantity field after the rder is acknwledged. Psitive percents will increase a psitin, negative percents will decrease a psitin. BUY ORDER Psitive Percent Negative Percent Lng Psitin Increases psitin N effect Shrt Psitin N effect Decreases psitin SELL ORDER Psitive Percent Negative Percent Lng Psitin N effect Decreases psitin Shrt Psitin Increases psitin N effect Example 1: Assume that three f the six accunts in this grup hld lng psitins in stck XYZ. Client A has 100 shares, Client B has 400 shares, and Client C has 200 shares. Yu want t increase their hldings by 50%, s yu enter "50" in the percentage field. The system calculates that yur rder size needs t be equal t 350 shares. It then allcates 50 shares t Client A, 200 shares t Client B, and 100 shares t Client C. Example 2: Yu want t clse ut all lng psitins fr three f the five accunts in a grup. Yu create a sell rder and enter "-100" in the Percentage field. The system calculates 100% f each psitin fr every accunt in the grup that hlds a psitin, and sells all shares t clse the psitins. AvailableEquity - This methd distributes shares based n the amunt f equity with lan value currently available in each accunt. Requires yu t specify an rder size. The system calculates ratis based n the Equity with Lan value in each accunt and allcates shares based n these ratis. Advisrs Getting Started Guide 38

41 Chapter 5 Create Allcatin Prfiles Example: Yu transmit an rder fr 700 shares f stck XYZ. The accunt grup includes three accunts, A, B and C with available equity in the amunts f $25,000, $50,000 and $100,000 respectively. The system calculates a rati f 1:2:4 and allcates 100 shares t Client A, 200 shares t Client B, and 400 shares t Client C. NetLiq - This methd distributes shares based n the net liquidatin value f each accunt. Requires yu t specify an rder size. The system calculates ratis based n the Net Liquidatin value in each accunt and allcates shares based n these ratis. Example: Yu transmit an rder fr 700 shares f stck XYZ. The accunt grup includes three accunts, A, B and C with Net Liquidatin values f $25,000, $50,000 and $100,000 respectively. The system calculates a rati f 1:2:4 and allcates 100 shares t Client A, 200 shares t Client B, and 400 shares t Client C. EqualQuantity - This methd distributes shares equally between all accunts in the grup. Requires yu t specify an rder size. Example: Yu transmit an rder fr 400 shares f stck ABC. If yur Accunt Grup includes fur accunts, each accunt receives 100 shares. If yur Accunt Grup includes six accunts, each accunt receives 66 shares, and then 1 share is allcated t each accunt until all are distributed. 6. The list f accunts in the Nn Grup Accunts sectin includes all accunts available t yu. T add an accunt t the grup, select a Nn Grup accunt and click Add. 7. Click OK t save the grup and its settings. Create Allcatin Prfiles Using ur Prfiles, yu can manually specify hw an rder will allcate amng a grup f accunts by predetermining the number f shares/cntracts, r defining specific percentages r ratis at which a trade will allcate. T create a share allcatin prfile 1. On the Edit menu, select Glbal Cnfiguratin. 2. On the Cnfiguratin screen, click Advisr in the left pane t expand that selectin, then select Allcatin Prfiles. Advisrs Getting Started Guide 39

42 Chapter 5 Set Allcatin Defaults 3. Click Create and enter a prfile name, preferably ne based n the way yu plan t allcate shares between clients. Nte: Yu may want t include a prefix such as "AP" in the name t identify the chice as an Allcatin Prfile when it appears in the rder selectin list. 4. In the Allcatin Prfile specifies area, select a methd f allcating shares between accunts: Percentages - this methd will split the ttal number f shares in the rder between listed accunts based n the percentages yu indicate. Fr example, an rder fr 1000 shares using a prfile with fur accunts at 25% each wuld allcate 250 shares t each listed accunt in the prfile. Ratis - this methd calculates the allcatin f shares based n the ratis yu enter. Fr example, an rder fr 1000 shares using a prfile with fur accunts set t a rati f 4, 2, 1, 1 wuld allcate 500, 250, 125 and 125 shares t the listed accunts, respectively. Shares - this methd allcates the abslute number f shares yu enter t each accunt listed. If yu use this methd, the rder size is calculated by adding tgether the number f shares allcated t each accunt in the prfile. 5. Click in the Accunt field t view all accunts. Select an accunt and tab ver t the Value field. 6. Enter the percent, rati r number f shares t be allcated t the selected accunt (yu may need t delete the current value). Tab t create a new accunt line. Nte: If yu use percentages t allcate shares, percentages allcated must equal 100. If yu use ratis, The system autmatically calculates these percentages. 7. Cntinue until yu have listed all the desired accunts fr the current prfile, and click OK. Set Allcatin Defaults The default allcatin refers t the allcatin that will be used autmatically when yu create an rder. Yu can mdify the allcatin n a per trade basis, and change the default allcatins at any time. T set default allcatins Advisrs Getting Started Guide 40

43 Chapter 5 Set Allcatin Defaults 1. On the Edit menu, select Glbal Cnfiguratin. 2. On the Cnfiguratin screen, click Advisr in the left pane t expand that selectin, then select Default Allcatin. 3. Select default settings, which are described belw: Use currently subscribed accunt - check this buttn t autmatically allcate trades t the accunt r grup selected in the Select Accunt drpdwn n the trading windw, as shwn in the image abve. Use specified default - check this buttn t set a specified abslute default allcatin. Autmatic Allcatin - chse a user-defined Accunt Grup and methd t use fr default allcatin. Manual Allcatin - chse an Allcatin Prfile t use as the default. Advisrs Getting Started Guide 41

44 Chapter 5 Trade and Allcate fr Clients Single Accunt Allcatin - chse an individual accunt t use as the default allcatin. NOTE: T allw the last selected individual accunt t be used fr the default allcatin ging frward, select the Use currently subscribed accunt radi buttn at the tp f the page. Preserve default - select t always use the default set up in the Default Allcatin windw regardless f changes yu make n a per-rder basis. If this is checked, yu will need t use this windw t mdify the default allcatin. Use last submitted as a default - select if yu want the default allcatin t change t the allcatin yu set n a per-rder basis. If this is checked, the default allcatin autmatically changes when yu change the allcatin n an rder. If ne r mre accunts fails t meet the margin requirements when an rder is submitted - Fr each rder, all accunts designated fr rder allcatin are vetted befre the rder is submitted, t ensure that each accunt has the capacity t supprt the designated allcatin. In cases where ne r sme accunt(s) cannt hld the allcatin as specified, the advisr can elect t: Reject the entire rder - The entire rder is rejected. Reduce the size f the rder - The rder size is reduced by the quantity that cannt be held, and this quantity is deactivated. Nte that nce the rder has been submitted and is wrking, the quantity f the wrking rder may still change. Fr example, if an unrelated fill results in ne r mre f the accunts n lnger being able t supprt the allcatin, the rder size will be reduced by that quantity. In an ppsite scenari, if an accunt whse allcatin was deactivated can nw supprt the allcatin, a quantity that was deactivated during the initial rder submissin may be reactivated and submitted. Trade and Allcate fr Clients Once yu have ticker lines in Qute Mnitr and defined yur accunt grups and/r allcatin prfiles, yu re ready t start trading. There are many different ways t create and send rders frm within TWS, but at this pint we will fcus n creating and sending rders directly frm the ticker line in the Qute Mnitr. Advisrs Getting Started Guide 42

45 Chapter 5 Trade and Allcate fr Clients Yu create an rder frm the Qute Mnitr by clicking the bid r ask n the ticker line f the asset yu want t trade. TWS autmatically creates the rder directly beneath the related ticker. We call this a duble-line display, and it s helpful t understand that the duble rw f headers alng the tp f the windw crrespnds t the duble-line market data/rder rw display in the bdy f the windw. The clumn headings in the tp rw crrespnd t data in ticker line. Imagine nw that I click the Ask price in the IBM ticker line. An rder t buy 100 shares f IBM stck is created directly belw the ticker, and the clumn titles n the bttm rw apply t these fields, with the Allcatin = Grup 1, Methd = Avail, TIF = DAY and s n. T create and transmit an rder fr multiple clients 1. Click the "Ask" r "Bid" price f an asset t create an Order Management line directly belw the asset s ticker. Clicking the Ask will create a Buy rder. Clicking the Bid will create a Sell rder. 2. Use the Allcatin field drp-dwn list t select an Accunt Grup, Accunt Prfile, a single accunt r All accunts. r Right-click n the rder and select Mdify then select Share Allcatin. Advisrs Getting Started Guide 43

46 Chapter 5 Real-time Activity Mnitring 3. In the Allcatin dialg bx, select an Accunt Grup in the Autmatic Allcatin area, an Accunt Prfile in the Manual Allcatin area, r select a single accunt. Fr the Accunt Grup, mdify the allcatin methd if necessary. If yu chse the PctChange methd, enter a psitive r negative value in the Percentage field. All ther autmatic allcatin methds are calculated using the rder size. If yu use an Allcatin Prfile, select a grup name. T allcate all shares t ne accunt, select a single accunt. 4. Click OK t cmplete the rder. 5. T Transmit, click the red "T" in the Transmit field. Real-time Activity Mnitring The Accunt windw lets yu mnitr every aspect f yur client accunt activity. The Accunt windw displays, amng ther things, the values f yur psitins, the funds available fr trading and the amunt f margin cushin an accunt has befre it may becme subject t a liquidatin, all with real-time values. The Accunt windw is divided int the fllwing sectins: Balances, which shws yur accunt balances fr securities, cmmdities and in ttal. These balances dn't include margin requirements. Margin Requirements, which shw yur initial and maintenance margin requirements based n yur current prtfli. Available fr Trading, which tells yu what yu have fr additinal trades and cushin befre liquidatin, based n yur balance infrmatin and margin requirements. Market Value, shws the ttal value f all psitins, srted by currency. FX Prtfli, which shws activity fr currency pair trades nly. The value in the Psitin field nly reflects trades executed in the FX market. Please nte that these d nt reflect real-time FX psitins, since the nn-base currency cnversins are nt included. Prtfli, which lists all current psitins srted by underlying, and displays the ttal current market value fr each psitin. Fr mre infrmatin n all f the parameters displayed in the TWS Accunt Windw, see The Accunt Windw sectin in the TWS Users' Guide. Advisrs Getting Started Guide 44

47 Chapter 5 View Accunt Balances View Accunt Balances The Balances sectin shws yur accunt balances fr securities, cmmdities and in ttal. These balances dn't include margin requirements. T view all Balances values, expand the sectin using the green plus (+) sign. T custmize this view t shw nly the values yu want t see, put a check next t these parameters and click the green minus (-) sign t cntract the sectin. Real-time Margin Mnitring Use real-time margin mnitring t see yur current margin requirements at a glance, and t understand the margin implicatins f any transactin befre yu transmit an rder. The Accunt windw shws yur accunt details, including the current market value and prtfli. Use the Margin Requirements and Trading Limits sectin t mnitr yur margin. Yu can als see the margin impact fr a single rder using the right-click Preview Order cmmand frm an rder line n the trading windw. An example f the Order Preview windw is shwn belw. Advisrs Getting Started Guide 45

48 Chapter 5 Mnitr Margin Requirements T preview margin impact 1. Use the right-click menu frm an rder line t select Check Margin. 2. View the rder details befre yu transmit, including cmmissins, margin impact and the rder descriptin. 3. Click Transmit t send the rder frm the Preview windw, r Clse t mdify befre sending. Nte: This feature is valid nly fr single-accunt rders. It des nt wrk fr allcated rders. Mnitr Margin Requirements Margin is calculated at three perids during the day: the market's pen, the market's clse, and vernight. The Margin Requirements sectin shws yur Current, Lk Ahead and Overnight margin (valid fr futures nly) calculatins. The Current margin is yur real-time requirement right nw. If yu happen t be viewing this screen at 1:00 AM, yur current and vernight margin values fr yur futures psitins will be identical. If yu're viewing this screen during trading hurs, yur current margin requirements fr futures will be less than r equal t the vernight requirement. Advisrs Getting Started Guide 46

49 Chapter 5 Try PM The Lk Ahead prjects what yur margin requirements will be at the next margin calculatin, based n what yu have in yur prtfli nw. If yu're viewing this screen at 2:00 PM, the next calculatin will be at the clse. If yu're viewing this screen at 1:00 AM, the next calculatin will be at the pen. Overnight is the requirement after regular market hurs and nly applies t futures. T view all Margin Requirements values, expand the sectin using the green plus (+) sign. T custmize this view t shw nly the values yu want t see, put a check next t these parameters and click the green minus (-) sign t cntract the sectin. Try PM Click t see hw yur margin requirements wuld be different if yu had a prtfli margin accunt instead f a RegT margin accunt. Margin Warnings T help yu stay n tp f yur margin requirements, we prvide pp-up messages and clr-cded infrmatin t ntify yu that yu are appraching a serius margin deficiency. TWS will highlight the rw whse value is in the distress state: Yellw - Yu have nly a 5% cushin abve the margin requirement Orange - Yur margin cushin is depleted and yu have a shrt time t enter int margin-reducing trades befre yur psitins are liquidated. During this time yu shuld be able t enter a trade that will decrease yur margin requirement, but nt increase. Red - Yur psitins will shrtly start t be liquidated as necessary t bring yur accunt back within the margin limits. Fr mre infrmatin See the Margin pages n the IB website fr details n margin calculatins. View Available fr Trading Values If yu lk at nthing else n the Accunt Screen, the Available fr Trading values let yu knw the state f yur accunt at a glance. Yur Available Funds tells yu if yu can put n a trade. Yur Excess Liquidity tells yu whether yu have sufficient cushin t maintain yur current psitins, and yur Buying Pwer tells yu hw much yu have at yur dispsal including yur equity and IB's margin. Advisrs Getting Started Guide 47

50 Chapter 5 View Market Value T view all Available fr Trading values, expand the sectin using the green plus (+) sign. T custmize this view t shw nly the values yu want t see, put a check next t these parameters and click the green minus (-) sign t cntract the sectin. View Market Value The Market Value sectin shws yu ttal value fr all assets srted by currency. Accunts with the ability t make transfers between brkers will als have an In Transit tab t mnitr DVPs and ther psitin transfers. In additin, the Cash clumn f this sectin is where yu can view yur real-time FX psitin infrmatin. View FX Prtfli Values This sectin shws activity nly fr currency pair trades. The "Psitin" value reflects the sum f trades executed in the FX market nly, and cnsequently des nt reflect a real-time FX psitin. Check the value in the Cash field f the Market Value sectin fr real-time FX psitin infrmatin. Advisrs Getting Started Guide 48

51 Chapter 5 View Prtfli Values View Prtfli Values The Prtfli sectin shws the current value f each psitin and allws yu t mark any psitin t be liquidated last in the event f a margin call. Accunts with the ability t make transfers between brkers will als have an In Transit tab t mnitr DVPs and ther psitin transfers. The Right-Click Prtfli Menu If yu select an asset in the Prtfli sectin and click yur right muse buttn, yu will have access t a BUY and SELL buttns as well as the fllwing menu items. Fr mre infrmatin T learn mre abut ther real-time activity mnitring tls, including the Trades windw, Prtfli Rebalance tl, Audit Trails, and Bulletins and System Status, see the TWS Users Guide. Advisrs Getting Started Guide 49

52 Advisrs Getting Started Guide 50

53 6 Reprting This sectin describes the accunt statements and reprts available t yu frm within Accunt Management, including the fllwing: Activity Statements Custmized Statements Activity Dwnlads Trade Cnfirmatins Flex Queries Margin Reprts Stress Test Reprt Value at Risk Reprt Client Summary Reprt P/L Markup Reprt Advisr Fee Cap Reprt PrtfliAnalyst Statement Access fr Clients Fr mre infrmatin Fr cmplete details n all f the statements and reprts available, see the Reprting Guide. Activity Statements Activity statements cntain infrmatin abut accunt activity, such as psitins, cash balances and transactins. Statements are generated daily, mnthly, and yearly fr all accunts. As a Advisr, yu can view statements fr yur advisr accunt, fr individual client accunts, r a cnslidated statement which can include sme r all f yur accunts. In additin, clients als have the ability t access their statements electrnically thrugh Accunt Management. Activity Statements include these features: Advisrs Getting Started Guide 51

54 Chapter 6 Activity Statements Expandable and cntractible sectins with click-dwn detail. Perfrmances summary by asset class fr a quick view f an accunt's prfitability. Prfit and lss acrss all transactins, psitins, underlying instrument and asset class, under First In, First Out (FIFO), Last In, First Out (LIFO), Maximize Lsses and Mark-t-Market (MTM) calculatin methds, depending n the client s selectin. Details f change in psitin value fr the statement perid. Calculatin f FX translatin gains and lsses fr accunts with multiple currencies. T generate an activity statement 1. Lg in t yur Master accunt via Advisr Prtal. 2. Click Reprts > Statements. 3. Use the Accunt Selectr at the tp f the page t select ne r mre accunts n which t reprt. 4. In the View Statements sectin f the page, make the fllwing selectins: 5. Select a Default Statement Type, a Custm Statement Type r a Third-Party Dwnlad Type frm the drp-dwn. The selectins available here depend n the Statement Type yu selected. 6. Select the Perid yu want the reprt t cver. Select Daily, Custm Date Range, Mnthly, Annually r Year t Date. 7. Select a date. If yu selected Custm Date Range, enter Frm and T Dates. Advisrs Getting Started Guide 52

55 Chapter 6 Custmized Activity Statements 8. Select the frmat fr the generated statement: HTML/Web, PDF r CSV (cmma-separated values). A CSV file is cmpatible with Micrsft Excel and similar prgrams. 9. In the Optins drp-dwn, select hw yu want the statement t be cnfigured fr multiple selected accunts and/r partitins. Cnslidated statements cmbine the data fr multiple accunts int a single statement. 10. Select the language yu want fr the reprt. 11. Click Run Statement. Click Reset t clear all the fields. 12. If yu selected PDF r CSV as the Frmat, yu will be prmpted t save the file t yur cmputer. If yu selected HTML as the Frmat, the statement will pen inside Accunt Management. Fr mre infrmatin T learn mre abut activity statements, including an explanatin f each statement sectin, see the Reprting Guide. Custmized Activity Statements Fr thse wh require a simpler statement frmat, IBKR allws yu t create and save custmized statement. These custmized statements allw yu t include r exclude specific statement sectins as well as set a variety f additinal statement ptins. Yu create custmized activity statements n the Activity Statements page in the Advisr Prtal. Fr mre infrmatin Fr mre infrmatin n hw t create a custmized activity statement, see Create a Custm Statement in the Accunt Management Users' Guide. Third-Party Dwnlads IB ffers a number f special dwnlad frmats fr activity statements s yu can integrate yur statements with third-party applicatins, including: Micrsft Wrd Micrsft Excel Advisrs Getting Started Guide 53

56 Chapter 6 Trade Cnfirmatins Micrsft Mney Quicken Captls (Legacy) Tradelg GainsKeeper In additin, the fllwing dwnlads are available upn request: Daily Captls Dwnlads - Daily Captls dwnlads are available fr custmers upn request. Send yur request t enable Captls dwnlads t reprtingintegratin@interactivebrkers.cm. Nte that Captls dwnlads are nt available t Nn-Disclsed Brker Clients. If yu request Daily Captls Dwnlads, the Activity Dwnlads page will cntain an additinal sectin fr Daily Captls Dwnlads. PrtfliCenter (intended fr institutinal accunts; yu must request dwnladable files frm yur IB Sales Representative first). Access these dwnlad frmats in Accunt Management by clicking Reprts > Activity > Dwnlads. Fr mre infrmatin Fr mre infrmatin abut activity dwnlads, see the Third-Party Dwnlads tpic in the Reprting Guide. Fr a cmplete list f fferings fr institutinal accunts, including PrtfliCenter, pen the Reference Menu in Accunt Management (click Reference in the lwer right crner f any screen in Accunt Management), then click Reprts > Third Party Integratin. Trade Cnfirmatins Real-time trade cnfirmatins are generated fr all executins. The Trade Cnfirmatin reprt will list trade executins separately, by asset class. Trade cnfirmatins are available fr the entire previus calendar year and frm the start f the current calendar year. Access Trade Cnfirmatins in Accunt Management by clicking Reprts > Statements. Fr mre infrmatin See the Trade Cnfirmatins tpic in the Reprting Guide. Advisrs Getting Started Guide 54

57 Chapter 6 Flex Queries Flex Queries Flex Queries let yu specify exactly which fields yu want t view in yur Activity Statement r Trade Cnfirmatin reprt, the time perid yu want the reprt t cver, the rder in which yu want the fields t display, and the display frmat, TEXT r XML, in which yu want t view yur reprt. Yu can create multiple templates with different fields fr each statement. All f yur templates are stred in and run frm Accunt Management. An Activity Flex Query is different frm an Activity Statement custmized template in that yu can custmize a flex query at the field level, allwing yu t include and exclude detailed field infrmatin. Activity Statement custmized templates nly let yu include and exclude sectins. Yu generate and run Activity Flex Queries frm the Activity Flex page. Yu generate and run Trade Cnfirms Flex Queries frm the Trade Cnfirmatin Flex page. Bth are accessible frm the Reprts menu in Accunt Management. Fr mre infrmatin Fr detailed instructins, see the Reprting Guide. Margin Reprts While the real-time margin summary is displayed in the Accunt Windw in Trader Wrkstatin, ur Margin Reprt prvides yu with a detailed breakdwn f yur psitins and their crrespnding margin requirements. In rder t view this detail, yu must generate the Margin Reprt frm the Advisr Prtal. The infrmatin cntained in the Margin Reprt is based n the margin and equity values which are btained daily at apprximately 16:15 ET fr all psitins acrss all asset classes. Margin reprts shw the margin requirements fr all pen single and cmbinatin psitins and are available fr the previus 90 days. Margin Reprts can be accessed frm the Reprts > Other Reprts menu in the Advisr Prtal. Here is an example f a margin reprt fr an Advisr client. Fr mre infrmatin Advisrs Getting Started Guide 55

58 Chapter 6 Stress Test Reprt Fr detailed instructins n hw t view a margin reprt, see the Margin Reprts tpic in the Reprting Guide. Stress Test Reprt The Stress Test reprt lets yu see the change in the Prfit and Lss (PNL) f yur psitins if the underlying price f each f yur psitins declines by 10%, 20% and 30% and independently increases by 10%, 20% and 30%. Yu access the Stress Test reprt by clicking Reprts > Other Reprts in the Advisr Prtal. Fr mre infrmatin Fr detailed instructins, see the Stress Test Reprt tpic in the Reprting Guide. Value at Risk Reprt The Value at Risk Summary reprt calculates yur Value at Risk (VAR) at a 99, 99.5 and 100% cnfidence levels using Principle Cmpnent Analysis. Because f the cmplexity f the calculatins required, this reprt is cmpleted vernight and is nly available nce a day. If yu need real-time VAR, use the IB Risk Navigatr SM in Trader Wrkstatin, which uses a simpler calculatin. Access the Value at Risk reprt in Accunt Management by clicking Reprts > Other Reprts. Fr mre infrmatin Fr additinal infrmatin n hw t generate the reprt, see the Value at Risk tpic in the Reprting Guide. Advisr Fee Cap Reprt IB caps the amunt f fees an advisr can charge a client, up t a maximum f 25% f the client s average equity in a given year. The Advisr Fee Cap reprt displays the amunt f available fee cap by client. Access this reprt by clicking Reprts > Other Reprts > Fee Cap in the Advisr Prtal. Fr mre infrmatin Advisrs Getting Started Guide 56

59 Chapter 6 Client Summary Reprt Fr additinal infrmatin n hw t generate the reprt, see the Advisr Fee Cap tpic in the Reprting Guide. Client Summary Reprt Advisrs can run this snapsht f client balances and perfrmance ver a ne-day perid. Because infrmatin n client s statements is displayed as f the cut-ff time fr each individual exchange, it shuld be nted that infrmatin n yur client summary reprt may nt equal infrmatin n yur client s statements. Access this reprt by clicking Reprts > Supplemental > Client Summary in the Advisr Prtal. Fr mre infrmatin Fr additinal infrmatin n hw t generate the reprt, see the Client Summary Reprt tpic in the Reprting Guide. P/L Markup Summary Reprt This reprt shws a summary f client prfit and lss (P/L) used t determine quarterly and annual perfrmance fees paid t an Advisr fr a single client accunt r fr all client accunts. Access this reprt by clicking Reprts > Other Reprts > P/L Markup in the Advisr Prtal. Fr mre infrmatin Fr additinal infrmatin n hw t generate the reprt, see the P/L Markup Summary Reprt tpic in the Reprting Guide. PrtfliAnalyst PrtfliAnalyst allws yu t evaluate the perfrmance f yur IB prtfli by creating and saving reprts based n a set f measurement criteria and ptinally cmparing their data t selected industry benchmarks. Yu can create Detailed Reprts, which let yu select any cmbinatin f reprt sectins fr a variety f perfrmance analyses, r Snapsht Reprts, which are ne-page summaries f an accunt's Advisrs Getting Started Guide 57

60 Chapter 6 Statement Access fr Clients return, NAV, asset allcatin and distributin f returns. Once yu create and save reprts, yu can run, edit r delete them. Advisrs can als create and save cver letters called synpses and assign them t Detailed PDF reprts. Access PrtfliAnalyst in Accunt Management by clicking Reprts > PrtfliAnalyst. Fr mre infrmatin Fr detailed instructins n using PrtfliAnalyst, see the PrtfliAnalyst Users' Guide. Statement Access fr Clients Management themselves, with their username and passwrd: Activity Statement Trade Cnfirmatin reprt Margin reprt Activity and Trade Cnfirmatin Flex Queries Value at Risk Summary reprt Stress Test Summary reprt PrtfliAnalyst Advisrs may als access their client's statements and reprts thrugh Accunt Management, print them, and send them t the client. Advisrs Getting Started Guide 58

61 7 Other Features This sectin intrduces yu t sme f the ther features available t Advisrs at IB, including the fllwing: Opening a Paper Trading Accunt Advisr White Branding Enabling Additinal Traders Additinal Advisr Authrizatins Custmer Activity Mnitr Mney Managers Investrs' Marketplace Administratrs Opening a Paper Trading Accunt Once yur regular trading accunt has been apprved and funded, yu are eligible t pen a Paper Trading Accunt. All paper trading accunts start with 1,000,000 USD f paper trading equity, which allws yu experiment with the full range f IB trading facilities in a simulated envirnment which uses real market cnditins. Once yu cmplete the applicatin, the paper trading accunt is available within 24 hurs under nrmal business circumstances. Yu will be ntified by when the accunt is ready fr trading. T pen a new paper trading accunt 1. Click Settings > Accunt Settings. 2. In the Cnfiguratin panel, click the Cnfigure (gear) icn fr Paper Trading Accunt. Advisrs Getting Started Guide 59

62 Chapter 7 Reset Paper Trading Accunt 3. Type a five-character paper trading accunt username in the field prvided. 4. Type a paper trading accunt passwrd in the field prvided. The passwrd must be frm six t eight characters and must cntain at least ne number and n spaces. 5. Re-type the passwrd in the field prvided, then click Cntinue. 6. Yur request will be cnfirmed fr prcessing. If we receive yur request by 4:00 PM Eastern Time n any nrmal business day, it will be prcessed by the next business day under nrmal circumstances. Fr mre infrmatin Fr details n managing yur PaperTrader accunt, see the Accunt Management User s Guide. Reset Paper Trading Accunt Use this page t reset the Equity with Lan Value amunt frm yur prductin accunt. Nte: Only the cash amunt will be reset. Fr a full reset, clse all f the psitins in yur paper accunt befre resetting the cash amunt. Wh can access the Reset Paper Trading Accunt Passwrd page? Yu can access this page if yu are a(n): Individual, Jint, Trust r IRA Accunt User Small Business Accunt User Friends and Family Grup Master r Client User Advisrs Getting Started Guide 60

63 Chapter 7 Reset Paper Trading Accunt Advisr Master User Individual Advisr Master User Organizatin Advisr Client User Individual Advisr Client User Organizatin Prprietary Trading Grup Master User Prprietary Trading Grup Sub User Brker Master User (master accunt nly) Brker Fully Disclsed Client User Brker Fully Disclsed Client User Organizatin Brker Nn-Disclsed Client User Brker Omnibus Client User Investment Manager Master User Fund T reset yur paper trading accunt 1. Lg int Accunt Management with yur regular accunt username and passwrd. 2. Click Settings > Accunt Settingsand g t the Cnfiguratin panel. Then, click the cnfigure (gear) icn next t Paper Trading Accunt Reset. 3. Select the reset amunt frm the drp dwn menu. 4. Click Cntinue. Advisrs Getting Started Guide 61

64 Chapter 7 Paper Trading Accunt Statements Paper Trading Accunt Statements The Paper Trading Accunt Statements page lets yu view and print daily statements fr yur paper trading accunt, and dwnlad trade infrmatin t Micrsft Wrd and Micrsft Excel. Daily statements cver the last 45 days. Lg int Accunt Management with yur paper trading accunt username and passwrd, then click Reprts > Activity > Statements. Advisr White Branding We prvide Advisrs with the ability t White Brand specific areas f ur sftware and dcumentatin. White Branding gives yu the ability t display yur wn lgs and cmpany infrmatin n ur trading platfrms and reprting systems, including Trader Wrkstatin, WebTrader, Accunt Management, statements, ur registratin system and the TWS Users Guide. Yu set up yur White Branding frm the White Branding page in the Accunt Settings sectin f the Advisr Prtal. T set up white branding Advisrs Getting Started Guide 62

65 Chapter 7 Advisr White Branding 1. Click Settings > Accunt Settings and frm the Cnfiguratin panel click the cnfiguratin (gear) icn next t White Branding. 2. Click White Branding ID and enter a White Branding ID frm six t ten characters lng including letters, numbers and underscre characters ( _ ). Yu can change yur White Branding ID at any time. Advisrs Getting Started Guide 63

66 Chapter 7 Enabling Additinal Traders 3. Click Save. 4. Click each sectin that represents the categry yu want t white brand, then fllw the instructins in the sectin t enter the required infrmatin. Click Save in each sectin t enter the infrmatin int ur system. Changes made befre 5:00 PM EST g int effect 8:00 PM EST the same day. Changes made after 5:00 PM EST will take effect the fllwing day 8:00 PM EST. Fr mre infrmatin Fr additinal infrmatin abut White Branding fr ther systems and features, see the Accunt Management Users Guide. Fr issues regarding White Branding, send us an at whitebranding@interactivebrkers.cm. Enabling Additinal Traders YYu can add users t yur accunt after it is apprved and funded and grant them access t a subset f Accunt Management functins, including granting access t functins fr ne r mre sub accunts. Nte: New users lg in t Accunt Management with their wn username and passwrd and will be asked t cnfirm their infrmatin, and change their passwrd. T add a user and assign access rights 1. Click Settings > Accunt Settings. 2. The Users & Access Rights panel shws all f the users yu have added t yur accunt. Click the Cnfigure (gear) icn. Advisrs Getting Started Guide 64

67 Chapter 7 Enabling Additinal Traders The Users & Access Rights screen pens. The Users panel shws all f the users yu have added t yur accunt alng with their relatinship t the primary accunt hlder. The User Rles panel shws all user rles that yu have created. Institutin accunts will see additinal panels fr Authrizers and Additinal Security Officer Apprvals. 3. Click the Add (+) icn in the Users panel title bar. The Add User screen pens. Advisrs Getting Started Guide 65

68 Chapter 7 Enabling Additinal Traders 4. The prcess f adding a user and assigning access rights is divided int several screens. When yu cmplete each screen, click CONTINUE t advance t the next screen. If yu want t make changes t a previus screen, click Back. On the first screen, enter infrmatin abut the user, including the username, passwrd, name, relatinship t the primary accunt hlder and address. On the next screen, select a user rle, if yu have saved any. User rles autmatically apply a set f previusly cnfigured access rights t the new user. If yu d this, yu can skip any additinal screens and cntinue t the review screen. Each screen that fllws lets yu give the new user rights t access a specific grup f functins, rganized t match the main menu f Accunt Management: User Settings, Trading, Reprting, Funding and Accunt Settings. On each screen, grant access t functins by clicking the bx next t each ne. 5. The last screen in the prcess lets yu review all f the infrmatin abut the new user, including access rights. Rights that have been assigned t the new user are shwn checked and in green; rights that have nt been assigned t the new user are shwn crssed ut. Click CONTINUE if everything is crrect. Click Back t make changes. 6. If yu d nt participate in the Secure Lgin System fr tw-factr authenticatin, yu will receive an with a cnfirmatin number. Enter the cnfirmatin number sent t yu via , then click CONTINUE. If yu have nt received a cnfirmatin number, click Request Cnfirmatin Number t have a new cnfirmatin number sent t yur address. Advisrs Getting Started Guide 66

69 Chapter 7 Additinal Advisr Authrizatins 7. Click Ok t save the new user, which will appear in the Users panel n the Users & Access Rights screen and in the Users & Access Rights panel f the Accunt Settings screen. Fr mre infrmatin T learn mre abut user access rights, see the User Access Rights Guide. Additinal Advisr Authrizatins An advisr can get specific authrizatin frm a client t mdify additinal settings in the client accunt. These authrizatins are listed n the Client Accunt Details page fr pen and pending client accunts. Authrizatin Categries and Specific Tasks Here is a list f all f the tasks that an advisr can be authrized t perfrm in a client's accunt. The list is rganized by categry just as n the actual authrizatin frm. Nte that nt all f these tasks affect an peratin within Accunt Management. Authrizatin t Update r Change Accunt Infrmatin, Accunt Settings, Trading Permissins and Tax Frms: Change Accunt Inf (Name & Address, , Phne Number, Legal Residence, Mailing address, Persnal Inf, Emplyment Inf, Financial Infrmatin, Regulatry Infrmatin, Trading bjectives, Change trading permissins and prducts Change accunt settings (Base Currency, Accunt Type) View and change accunt frms and tax frms. W8/W9 functins Change Investr Categry (QIB, Accredited Investr, etc) Statement/Cnfirm Delivery Settings Trading Cnfiguratin Market Data Market Data Subscriber Status Alert Ntificatin Paper Trading Accunt Authrizatin t Prvide r Change Banking and Transfer Instructins Advisrs Getting Started Guide 67

70 Chapter 7 Additinal Advisr Authrizatins ACH depsit infrmatin ACH and wire withdrawal bank infrmatin Psitin instructins fr ACATS and FOP inbund transfers Settlement instructins Authrizatin t Send Third Party Payments and Wires Als allw withdrawals f cash and ACH t third parties in additin t named accunt hlder using third-party withdrawal system. Authrizatin t Vte Shares and Make Electins Regarding Psitins (des nt affect Accunt Management) Crprate Actins shuld be sent t the advisr nt the client. Prxy delivery and vting will be dne by the advisr nt the client. Authrizatin fr Special Prgrams and Alternative Investments Hedge Fund Capital Intrductin Prgram Agreement Hedge Fund Capital Intrductin Prgram investments and redemptins Enrll r un-enrll in the Stck Yield Enhancement Prgram Request t Send Electrnic Ntices, Cnfirmatins and Accunt Statements nly t Advisr Used by ur Cmpliance department in the event that an advisr wants t cntrl the address used fr the client accunt. T grant and view additinal advisr authrizatins 1. The advisr client lgs int Accunt Management and clicks Supprt > Paper Frms. 2. The advisr client prints, cmpletes and mails the frm t us t grant his r her advisr authrizatin t perfrm additinal specific accunt cnfiguratin tasks fr the client's accunt. Withut this authrizatin, the advisr nrmally is nt authrized t mdify these accunt settings. The advisr als has access t this frm n the Supprt > Paper Frms page. 3. Once the authrizatins are granted, the advisr can perfrm the additinal tasks and can click Manage Clients > Dashbard t drill dwn t the Client Accunt Details page fr the authrizing client. Advisrs Getting Started Guide 68

71 Chapter 7 Custmer Activity Mnitr There will be a sectin n the page that lists all f the client accunt tasks that have been authrized by the client. Custmer Activity Mnitr The IB Custmer Activity Mnitr (CAM) helps Advisrs quickly find and view all client activities, including the cmplete rder histry and its ruting sequence. Our rbust user interface displays: Real-time Queries: IB CAM cmmunicates directly with the IB rder ruting system, which ensures real-time data results fr rder and executin queries. Flexible search filters let yu narrw yur queries t include specific criteria, and yu can view search results in ascending r descending rder by date, underlying, price, and s n. Audit Trails: Track up t five days' rder histry, frm rder initiatin t rder executin, including mdified, cancelled and rejected rders. Als, exprt queries t any spreadsheet applicatin. Accunt Status: Find accunt infrmatin fr any f yur clients, including real-time accunt balances, margin requirement and trading limits, market value and prtfli. Access the IB CAM frm the Custmer Activity Mnitr page n ur website, r frm the Reprts menu in Accunt Management. The username and passwrd fr accessing the CAM will be the same as the nes created during the master accunt pening prcess. Advisrs Getting Started Guide 69

72 Chapter 7 Mney Managers Fr mre infrmatin Fr detailed instructins n hw t use the Custmer Activity Mnitr, see ur Custmer Activity Mnitr Users' Guide. Mney Managers All Prfessinal Financial Advisrs are cnsidered t be Wealth Managers. As a Wealth Manager, yu can ptinally add Mney Managers t trade fr yur client accunts. Mney Managers direct trading and investment activity in client accunts. They cannt add client accunts, fund client accunts, set client fees r set client trading permissins. A Mney Manager must first cmplete a separate Mney Manager accunt applicatin. Once a Mney Manager s accunt is activated, yu can add him r her t yur Advisr accunt, then assign client accunts t the Mney Manager fr trading purpses, set trading permissins and set client fees. Bth Mney Managers and Wealth Managers can trade fr client accunts. Advisrs Getting Started Guide 70

73 Chapter 7 Mney Managers T add a Mney Manager 1. Access the Mney Manager Marketplace and shp fr available Mney Managers. Either cntact a Mney Manager directly r request that a Mney Manager cntact yu. 2. Once yu and the Mney Manager have agreed t d business tgether, add the Mney Manager t yur accunt by using the Add buttn in the Mney Manager Marketplace. Yu can als add a Mney Manager n the Settings > Accunt Settings > Mney Manager page if yu knw the Mney Manager's Accunt ID. Nte: Mney Managers must lg int Accunt Management with their username and passwrd t accept assignments frm Wealth Manager n the Wealth Manager Assignment page (nly Mney Managers can view this page). 3. Set Up a Client Fee Schedule - This fee schedule represents the fees that will be paid t yu, the Wealth Manager, when yu trade fr client accunts. Typically, yu will have already dne this fr yur client accunts n the Manage Clients > Fees > Cnfigure page in Accunt Management. Yu set up a separate fee schedule fr a Mney Manager when yu set up the client accunts fr the Mney Manager in the next step. 4. Set Up Client Accunts - After a registered Mney Manager accepts yur assignment, yu can set up the client accunts fr each Mney Manager. This setup includes assigning client accunts t a Mney Manager, setting trading permissins fr the Mney Manager and setting Mney Manager client fees (fees that will be paid when the Mney Manager trades fr client accunts). The client setup prcess takes yu thrugh a series f pages in Accunt Management. Yu start the setup prcess n the Manage Accunt > Mney Manager > Administratin page in Accunt Management. Mney Managers can start trading the next business day (client assignments and trading permissins require ne business day t take effect). But Mney Manager client fees will be cllected frm client accunts and transferred t the Mney Manager nly after the client signs the Mney Manager client agreement. Nte that fee per trade unit is NOT available fr Mney Managers. Client accunts assigned t a Mney Manager can nly receive trading permissins fr prducts and cuntries that they already have permissin t trade as Advisr clients. Fr example, if a Advisrs Getting Started Guide 71

74 Chapter 7 Other Tasks Yu Can Perfrm as a Wealth Manager client accunt can trade stcks as an Advisr client, and yu assign trading permissins fr a Mney Manager that gives the same client accunt trading permissins fr stcks and ptins, then the Mney Manager will nly be able t trade stcks fr that client accunt. 5. Create a Client Fees Template - Optinally, create a cmmn client fee schedule t fr Mney Managers withut having t set client fees separately fr each Mney Manager. Yu can create a client fees template n the Manage Accunt > Mney Manager > Administratin page in Accunt Management. 6. Fund Client Accunts - When yu assign a client accunt t a Mney Manager, we create a secnd versin f the client accunt that is linked t the Mney Manager. When yu fund r transfer psitins int a client accunt fr a Mney Manager, yu are actually funding r mving psitins int the linked client accunt. Other Tasks Yu Can Perfrm as a Wealth Manager In additin, Advisrs acting as Wealth Managers can perfrm the fllwing ptinal steps, all available n the Mney Manager Assignment page in Accunt Management: Mdify Client Fees fr a Mney Manager - Yu can edit the client fees fr ne r mre client accunts assigned t a Mney Manager. Nte that any changes t Mney Manager fees require apprval frm the client. Mdify Trading Permissins - Yu can edit the trading permissins fr ne r mre client accunts assigned t a Mney Manager. Change Mney Manager Client Accunt Assignments - Yu change Mney Manager client accunt assignments at any time by adding r remving client accunts frm the Mney Manager. Befre yu can remve a client accunt frm a Mney Manager, yu must first mve all cash and psitins frm the Mney Manager-linked client accunt back t the client accunt. Remve a Mney Manager - When yu remve a Mney Manager, all client accunts assigned t that Mney Manager will be clsed. Remember t mve all cash and psitins frm the Mney Manager-linked client accunt linked back t the client accunt befre yu remve a Mney Manager. The Manage Accunt > Mney Manager > Administratin page in Accunt Management is shwn belw. Advisrs Getting Started Guide 72

75 Chapter 7 Mney Manager Marketplace Fr mre infrmatin Fr mre infrmatin abut Mney Managers, see the Mney Manager tpic in the Accunt Management Users' Guide. Shrt Vide - Assigning Mney Managers Mney Manager Marketplace IB s Mney Manager Marketplace, available by clicking Investrs Marketplace > Search Services > Investing > Mney Manager in Accunt Management, is an electrnic frum designed t cnnect Wealth Managers with Mney Managers. Advisrs acting as Wealth Managers can view infrmatin abut Mney Managers, review their backgrund infrmatin and specify their preferred cntact methd. Mney Managers access the Investrs' Marketplace > Advertise Services > Investing > Mney Manager page t enter infrmatin abut themselves and their trading services, including their Advisrs Getting Started Guide 73

76 Chapter 7 Investrs' Marketplace educatin, certificatin, assets and prducts traded, which will be available t Wealth Managers wh access the Mney Manager Marketplace; and t review cntact requests frm Wealth Managers. Fr mre infrmatin T learn mre abut the Mney Manager Marketplace, see the Accunt Management Users' Guide. Investrs' Marketplace Investrs' Marketplace is a free nline frum where IB custmers can frm cnnectins with service prviders and d business tgether n Interactive Brkers' platfrm. Advisrs can search fr service prviders n the IB website r within Accunt Management. Advisrs can advertise their wn services t ptential clients n Investrs' Marketplace within Accunt Management, r can advertise ther third-party services that they ffer, such as analyst research r sftware tls. Frm the IB website, Investrs' Marketplace is available by clicking the link at the bttm f any page. Brwse the different categries f service prviders and, when yu find a service prvider with whm yu want t d business, yu can cntact the prvider directly r lg int Accunt Management t cnnect, depending n the type f service prvider. In the Advisr Prtal, search fr service prviders frm the Investrs' Marketplace > Find Services menu. Advisrs can advertise their wn services n the Advisr Marketplace, available frm the Investrs' Marketplace > Advertise Services menu. In Accunt Management, service prviders available t advisrs are rganized int categries: Investing - Advisrs can search fr and link t Mney Managers, and if they are Accredited Investrs r Qualified Purchasers under SEC rules, they can view infrmatin and abut and invest in independent Hedge Funds. Research -Search fr and cnnect with third-party prviders f institutinal-caliber research directly in the Trader Wrkstatin trading platfrm; educatrs wh have expertise in trading, specific prducts and ther tpics; and news wires and research feeds fr Trader Wrkstatin. Technlgy - Search fr and cnnect with large and small third-party vendrs wh have ptentially cmplementary sftware prgrams t expand the functinality f TWS, and prgramming cnsultants wh may be able t assist API and FIX CTCI custmers by ffering their prgramming expertise. Advisrs Getting Started Guide 74

77 Chapter 7 Advertise Yur Services Administratin - Search fr and link t registered Administratrs, third-party cmpliance firms, and manage yur linked Administratrs. Business Develpment - Search fr and cnnect with third-party prviders f advertising and marketing services, business analysts, and individual jb seekers. Advisrs wh als prvide research, technlgy, business develpment services r have pen psitins t fill can advertise thse services n Investrs' Marketplace frm within Accunt Management. Advertise Yur Services Advisrs can market their services n the Advisr Marketplace. Once an advisr adds infrmatin t the Brker Marketplace, ther IB custmers can lg in and brwse the marketplace and either request that the advisr cntact them r request that the advisr add them as a client. The Advisr Marketplace lets yu advertise yur services as fllws: Mdify yur cntact infrmatin Add infrmatin abut yu and yur business Review cntact requests by ptential clients Select whether r nt yu are pen t new clients Add PDF dcuments t yur marketplace entry Review PDF materials already psted t yur marketplace entry Apprve new client requests Add text-based articles t yur marketplace entry T jin the Advisr Marketplace 1. In Accunt Management, click Investrs' Marketplace > Find Services > Investing > Advisrs. 2. An electrnic agreement pens. Read the agreement, type yur signature in the field prvided, and then click Submit. 3. While yu wait fr us t apprve the agreement, yu can add infrmatin abut yurself in the Uplad Infrmatin Prvided in Advisr Marketplace sectin, uplad infrmatin r dcuments r add text-based articles. Yur cntact infrmatin is added in the Advisr Cntact Infrmatin sectin autmatically. Advisrs Getting Started Guide 75

78 Chapter 7 Administratrs 4. As sn as we apprve yur agreement, yur infrmatin appears in the Advisr Marketplace and custmers shpping fr an advisr can request that yu cntact them r autmatically add them as clients. Administratrs Administratrs are users wh have registered with Interactive Brkers fr the purpse f perfrming thirdparty administratin such as reprting fr ther accunts. Administratrs pen their wn accunts and yu can shp fr Administratrs in the Administratr Marketplace. An Administratr accunt applicant cmpletes the Administratr registratin prcess. Infrmatin entered int the applicatin is added t the Administratr Marketplace upn accunt apprval. The Administratr lgs int Accunt Management and mdifies his r her Marketplace infrmatin if necessary. Yu pen the Administratr Marketplace in Accunt Management t search fr an Administratr. Yu select an Administratr in the Marketplace and a request is sent t the Administratr. Yu can als link directly t a selected Administratr by entering the Administratr's accunt number. The Administratr is ntified f the linking request and accepts (r rejects) the request in Accunt Management. Once accepted, the Administratr is linked t the requesting accunt. Yu assign client accunts t the linked Administratr. Fr mre infrmatin T learn mre abut Administratrs, see Administratrs in the Accunt Management Users' Guide. Administratr Marketplace Use the Administratr Marketplace t: Brwse available Administratrs. Select a preferred methd f being cntacted by selected Administratrs and send cntact requests. Add Administratrs (send link requests). Access the Administratr Marketplace by clicking Investrs Marketplace > Search Services > Administratin > Third-Party Administratrs in the Advisr Prtal. Advisrs Getting Started Guide 76

79 Chapter 7 Managing Administratrs Fr mre infrmatin T learn mre abut the Administratr Marketplace, see Administratr Marketplace in the Accunt Management Users' Guide. Managing Administratrs Use the Manage Administratr page in Accunt Management t: Add an Administratr by entering his r her accunt number. View active and pending Administratrs. Delink an Administratr frm yur accunt. Assign client accunts t an Administratr. Remve client accunts frm an Administratr. Access the Manage Administratrs page by clicking Investrs' Marketplace > Search Services > Administratin > Manage Administratrs. The fllwing image shws the Manage Administratrs page. Advisrs Getting Started Guide 77