Broker CD's

[ricbertsch]

Mark, I noticed that Broker CD's that are priced at $1,000 a piece are being downloaded at a price oi $100. Why is that and how do I correct that on Fund Manager?

[Mark]

Hi ricbertsch,

How are you getting price updates for this investment?

[ricbertsch]

Imported directly from TD Ameritrade Institutional.

[ricbertsch]

Mark. The import price is being download as Bond Par pricing as opposed to price per CD. For Example Client has 10 CDs that cost $1,000 a piece for a total investment of $10,000. What is being download from TD is the par price of $100 and the amount invested, in this case $10,000. Thus the Data Register for the CD Asset will default to 100 Shares. Then daily imported prices based on par will occur.

My question is there a way in FM Advisor to correct the par price not just for the original purchase but for future prices to add an additional digit. Eg. the original example of $100 would add a zero to reflect $1000 and then a daily price such as an import from TD of $102 would be $1,020,

Thanks

[Mark]

Hi ricbertsch,

For bonds the shares are recorded as 1/100th the face value, and the investment is priced as percent of par. For a purchase of $10,000 this should be 100 shares and prices at 100. If this isn't getting recorded this way maybe you could send me some sample data files that include a purchase and also a pricing file. I can take a closer look.

[ricbertsch]

Mark, Thanks and I realize the pricing and have no problem with this for individual bonds. But for Brokered CD's it is misleading to the client when reviewing their statements. The example, a Client buying 2 Broker CD's priced at $1,000 results reflecting 20 Shares (Quantity) on their reports when they actually only own 2. Thus,I just want to know is there a way in FM to change the default amount of zero in the pricing other than manually to correctly reflect the real number of CD's in the portfolio. If not that is okay as the Investment Value is correct and I can add a note in their reports explaining the pricing.

[Mark]

Hi ricbertsch,

Sorry, no, this isn't something you can configure as a user. FM treats items reported as bonds the way previously described, and isn't user-adjustable. It sounds like these brokered CDs are being reported as bonds in their data feed.