Tracking net worth ideas?

[PWatson]

Hello,

This question is perhaps more applicable to those using the advisor version, but anyone who has a creative solution, please feel free to reply.

Is anyone using FM to store and view more than just the investment portfolio? I'm interested in keeping the clients real estate values, cash accounts, collectibles, etc., in FM in order to not only see the investment portfolio total value, but to have a snapshot and record of total net worth.

At this point, my thinking is to keep the 2 (investment and personal ) separate until I want them combined, so I'm thinking of having additional portfolios replicating the client list with each having a sub-portfolio that will contain these mentioned assets. I think I'll try to link these new subs to their corresponding investment parent when looking to see or report on net worth. Otherwise, they're down and out of the way, allowing me to see the the client investment portfolio list and it's daily, refreshed totals.

Am I causing myself too much trouble? Is there a better way?

As I'm reviewing my post, I'm wondering....could I just use the "hidden" feature to see and not see these assets, eliminating the need to have a second set of client folders? I'll play with that.

TIA,

Phil

[Mark]

Hi Phil,

You can do this. For investments (real-estate, collectibles, etc...) that do not have share prices, track them like a cash investment, where the price is always 1, and the transactions all happen at a price of 1, with shares equal to value.

For organizing your accounts, you can probably do this many ways, but you could consider something like this:

Code: Select all

- Master Portfolio
  - Indices
  - Your Advisor Practice
    - Client 1
      - Investment Account
      - Other Assets
    - Client 2
      - Investment Account
      - Other Assets
etc...

This way, you can report at either the Investment Account level, the Other Assets level, or the whole Client level. You can also report at your whole Your Advisor Practice level if you want to see all your managed accounts together. This is just one example, you can organize your sub-portfolios in whatever way works for you.