Data Integration with Albridge Solutions and Advisor Workstation 2.0

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1 Data Integration with Albridge Solutions and Advisor Workstation 2.0 This document explains how to import both portfolios and core accounts from Albridge into Morningstar s Advisor Workstation 2.0. Overview When a portfolio or core account is imported, Advisor Workstation simply recognizes the securities being imported, then multiplies the number of shares in the original platform by the current price for the security in Advisor Workstation. Note that a discrepancy could exist between the value of the portfolio in Albridge, and Advisor Workstation. This is due to Advisor Workstation using its most current price for securities, which could be updated more frequently or recently than the original system. Also, the portfolio created in Advisor Workstation contains only the names of the securities imported, and their values. It is not possible to retrieve historical purchase information or transaction data; only the current holdings can be retrieved from Albridge Solutions. How does the import process work? The import interface will show you the number of portfolios or core accounts that can be imported at one time. Keep in mind, though, that for all Advisor Workstation users, the number of portfolios is limited to 150,000, and the number of holdings per portfolio is 250. How many portfolios or core accounts can I import at once? Version 1.0 1

2 In Albridge, what are portfolios, and what are accounts? Before diving into the data integration details, some key Albridge terms are defined in the table below. Item Definition In Albridge, what are portfolios, and what are accounts? Portfolio Core Account Manual Account Any grouping of clients and accounts in Albridge, and therefore logical groupings of accounts which can span several clients. Portfolios are typically created by an advisor, but can also be created by an investor. They can contain both core and manual accounts A list of client accounts downloaded nightly from Albridge s data sources. A list of accounts created manually in Albridge, and not updated automatically on a daily basis in Albridge. These accounts cannot be imported into Advisor Workstation, even if they are part of a portfolio in Albridge. Advisor Workstation does not differentiate between an individual account and a group of accounts from Albridge. All entities with a name and holdings are known as portfolios in Advisor Workstation. Therefore, an Albridge portfolio imported to Advisor Workstation is stored and displayed as any other manually created (or previously imported) core account Portfolios 2 - Core Accounts 3 - Manual Accounts - not imported Version 1.0 2

3 How do I create a new client record by retrieving client data from Al- When you import client holdings from Albridge Solutions, you will have the option of looking up those holdings by either Albridge Portfolio or Albridge Account. Note the following differences between these two methods: When you search by Albridge Portfolio, you can look only by Tax ID; you cannot find the client by first name or last name, as you can with Albridge Account. When you search by Albridge Account, you can import multiple clients (and their portfolios) at once. Searching by Albridge Account allows you to import multiple portfolios, but only for one client at a time. How do I create a new client record by retrieving client data from Albridge? Additionally, the instructions below are for a client who does not yet exist in Advisor Workstation. If the client record already exists, go to page 5. To import client data from Albridge in Advisor Workstation, do the following: 1. From Advisor Workstation s menu bar, select File Import Albridge Solutions. The Albridge Import dialog box opens. Select this option from the File Import menu 2. Select an option to look for: either Albridge Portfolio or Albridge Account. 3. If searching by Albridge Portfolio, enter the Tax ID. If searching by Albridge Account, enter either the Last Name and First Name or Tax ID. 4. Click Find. After a moment, matching portfolios will appear in the dialog box. Select an import option, search for the client, then click Find. Select one of these two options Enter the information for the client, then click Find Version 1.0 3

4 How do I create a new client record by retrieving client data from Al- 5. Make sure the box is checked next to the name(s) of the item(s) you want to import, then click Import. Click Import to bring the holdings into Advisor Workstation 6. A confirmation message appears, showing you the number of portfolios and holdings imported. Click OK to clear the message. Click OK to clear this message You can now see the client(s) and portfolio(s) in the Clients & Portfolios Module in Advisor Workstation 2.0. If you encounter issues after clicking OK, see page 7. Version 1.0 4

5 How do I update an existing client record by retrieving client data from Al- You can confirm whether a client was imported from Albridge by scrolling to the right and viewing the Source column. ALB will appear for clients whose portfolios were imported from Albridge. How do I update an existing client record by retrieving client data from Albridge? This code indicates the client was imported from Albridge To update an existing client s portfolio(s) by retrieving data from Albridge, do the following from Advisor Workstation: 1. Go to the Clients page in the Clients & Portfolios module. 2. Right-click once on the name of the client you want to work with. You cannot select more than one client at a time. 3. From the menu that appears, select Import Albridge Solutions. The Albridge Import window appears. After right-clicking on the appropriate client record, click here to update it 4. Select an option button to look for either Albridge Portfolio or Albridge Account. The client s last name, first name and Tax ID are populated automatically. Version 1.0 5

6 How do I update an existing client record by retrieving client data from Al- 5. Click Find. After a moment, matching portfolios will appear in the dialog box. Select an import option, search for the client, then click Find 6. Make sure the box is checked next to the name(s) of the item(s) you want to import, then click OK. 7. A confirmation message appears, showing you the number of portfolios and holdings imported. Click OK to clear the message. Version 1.0 6

7 How do I resolve unmapped securities? If a holding in Albridge does not match a known security (either by name or ticker symbol) in Advisor Workstation, a dialog box will appear in which you must map the holding to a security in Advisor Workstation in order for it to properly appear in a portfolio for the client. To map an unknown security, do the following: 1. In the Edit Security Mappings dialog box, the Security Type column will be pre-populated. To change this selection, click in the Security Type field. How do I resolve unmapped securities? Click here to select a different universe of securities Click once to select a security type 2. Select the appropriate investment universe. 3. In the Symbol column, enter a name or ticker symbol for the security. Suggested matches appear as you type. 4. Click once on the name of the item you want to use as the mapping for the unrecognized security. You can click the Search by Subaccount Name or View Full Results link to launch the Results for Security Search window. 5. Repeat steps 1-4 for any additional securities that need to be mapped. 6. Click OK to close the Edit Security Mappings dialog box when finished. If you later realize you erred in making a particular mapping, you can correct it by manually launching the Edit Security Mappings dialog box. From the File menu, select Import Mapping Preferences. Version 1.0 7

8 How do I map to advisor-defined securities? If there are securities in Albridge that are not tracked by Morningstar, you can map these holdings to advisor-defined securities in Advisor Workstation. You must create an advisor-defined security before you can map to it. How do I map to advisor-defined securities? You can create advisor-defined securities by selecting File...New...Advisor-Defined Security. To map to an advisor-defined security, do the following: 1. From the File menu, select Import Mapping Preferences. The Edit Security Mappings dialog box opens. 2. Click in the Security Type field and select Advisor-Defined Securities. Click here to map to an advisor-defied security 3. In the Mapped Security name, type the name of the advisor-defined security or click the View All Results link to launch the Results for Security Search window. 4. From the Results for Security Search window, click Find to list all your advisor-defined securities. 5. Click to highlight the name of the desired security, then click Select. Click to select the advisor-defined security 6. You are returned to the Edit Security Mappings window. Click Save to save the mapping. 8 Version 1.0

9 What if I import duplicate holdings? If you manually created portfolios in Advisor Workstation prior to importing, the portfolios you bring in from Albridge might appear as exact duplicates of the portfolios you built in Advisor Workstation. If one or more of your clients has duplicate portfolios, we recommend deleting the portfolios you created manually, as their holdings cannot be automatically updated later via import. However, you should confirm the holdings are the same in both portfolios before deleting anything. To delete a duplicate portfolio, do the following: 1. In the Clients & Portfolios Module, click the Clients page. 2. Click on the hyperlinked name of the client whose portfolios you want to view. 3. Highlight the portfolio you want to delete. What if I import duplicate holdings? You can confirm whether a client was imported from Albridge or created in Advisor Workstation by scrolling to the right and viewing the Source column. ALB will appear for clients whose portfolios were imported from Albridge, and AWSE will appear for portfolios created in Advisor Workstation. Scroll to the right to view this column 4. Right-click the AWSE portfolio and select Delete Selected Item(s). Select this option 5. A warning message appears. Click Yes to confirm the deletion. Click Yes to confirm The portfolio is removed from Advisor Workstation. Version 1.0 9