ADV Client Categories

ADV Client Categories

The key to taking advantage of the ADV Dashboard is to make sure every new client gets an ADV category assigned: Portfolio audit > households > double click the household and edit there.

General guidelines from XY compliance suggest that you use:

• Individual - for clients with less than $750K under your management and less than $1.5M in total assets when including property and anything else outside of your management
• High Net Worth Individual - for clients with $750K or more under your management, or those with $1.5M in total assets (regardless of how much you manage).

Discretionary vs. Non-Discretionary

Orion used to default all accounts to non-discretionary, and the advisor was responsible for changing that setting. Orion can now default to discretionary for new accounts. If you'd like to do so, please submit your request to orion@xyinvestmentsolutions.com.

Regulatory vs. SMA assets

By SEC definition, SMA and regulatory assets both include all Individuals, High Net Worth Individuals, and most other client types. Advisors often use the term "SMA" to indicate an account managed by an outside manager, but that's a different scenario that isn't relevant in this case.

ADV Asset Categories

Asset categories are viewable in products & prices > my current products. Use the right panel to add the 'adv asset category' column if it's not already there. These might be unassigned for the households where "ADV Client Categories" are missing. Assign the households first, then refresh the adv dashboard. Contact us at orion@xyinvestmentsolutions.com if you need any assistance.