Notes displayed on Portfolio rebalance

When doing a rebalance notes will be displayed next to the investors that was selected for rebalancing and yes or no to indicate if the account will be rebalanced or not

See below a list of the notifications that can appear under notes, their meaning and whether the message is advisory only or would result in the holdings not being rebalances:

Investor account

The following messages are displayed if the system is unable to re-balance an investor’s holdings:

  • ‘is not active’ — the investor account is not active;
  • ‘is not allowed to invest in all of the rebalance instruments’ — the investor account does not have a valid mandate licences for one or more of the (non-cash) instruments in the bulk rebalance;
  • ‘does not have all of the rebalance instruments available’ — one or more of the instruments in the bulk rebalance is not available to the investor. Note, this does not apply if the bulk rebalance is for a model portfolio to which the investor is linked;
  • does not have any assets available to switch’ — the investor account does not have any holdings;
  • ‘has instructions in progress’ — the investor account has instructions in progress that have not yet completed;
  • ‘has outstanding compliance’ – the investor has not yet submitted the mandatory regulatory compliance documentation;
  • ‘is linked to a managed model portfolio’ — the investor account is already linked to a different model portfolio than the model portfolio associated with the current bulk re-balance;
  • ‘needs to be regulation 28 compliant’ ­— the investor account is is not complaint with the section 28 regulation for one or more instrument in the bulk-rebalance.
Compliance

The following messages are advisory and the investor’s holdings will be rebalanced:

  • ‘Brokerage <name> not licensed for product: ‘<product>’ — the brokerage advising the investor is not licenced for the product;
  • ‘Advisor <name> not licensed for product: <name>’ — the investor’s advisor is not licenced for the product;
  • ‘Brokerage <name> does not have mandate license for: <product>’ — the brokerage advising the investor does not have a mandate licence for the product;
  • ‘Advisor <name> does not have mandate license for: <product>’ — the investor’s advisor does not have a mandate licence for the product;
  • ‘Advisor/brokerage does not have mandate license for: <instruments>’ — the investor’s advisor or brokerage does not have a valid mandate licence for one or more instruments in the bulk re-balance;
  • ‘Advisor/brokerage not licensed for instruments: <instruments>’ — the investor’s advisor or brokerage does not have a valid compliance licence for one or more instruments in the bulk re-balance;
  • ‘Advisor does not have mandate to switch.’ — the investor’s advisor does not have permission to create switch instructions;
  • ‘Politically exposed.’ — the account holder (person or company) is politically exposed.
Instrument not available

The following messages are displayed to advice that one or more instruments in the bulk re-balance is not available to the investor account. The re-balance will not proceed.

  • ‘Rebalance includes instrument(s) that are not active.’
  • ‘Rebalance includes instrument(s) that are not available on the product of this investor.’
  • ‘Rebalance includes instrument(s) that are not available on the group scheme.’
Regulation 28
  • ‘Not Regulation 28 compliant.’ — the investor account is is not complaint with the section 28 regulation for one or more instrument in the bulk-rebalance. The re-balance will not proceed.