When will my portfolio change take effect?

When you modify your portfolio allocations (including selecting a new managed portfolio), our system will automatically determine if your portfolio holdings need to be reallocated. If reallocation is necessary, it will be processed in 1-3 business days, unless there are other pending transactions on your account.* Please see the bottom of this article to understand how our system performs this evaluation and the drift of your portfolio meets the requirements for a reallocation.

Pending activity like payroll contributions may affect the timing of portfolio allocation updates, as all transactions on your account must settle before a reallocation can occur. For example, a portfolio change received at 3:59pm EST on Friday with a pending payroll contribution that doesn’t settle until Monday, will be evaluated Monday night after market close and then traded at Tuesday’s market close prices.

Understanding Portfolio Drift, and how it relates to the timing of your portfolio reallocation.

Note that changes to your portfolio will result in reallocation of your entire portfolio to meet your newly selected portfolio allocation. If you change the allocations of your currently held funds, and no new funds are added to your portfolio, your portfolio will only rebalance when your total portfolio drift exceeds 5%. If the requested change results in less than a 5% drift, no reallocation will be initiated. Instead, upcoming contributions are allocated to bring the funds in your portfolio to the new target allocation.

*As a Guideline policy and in keeping consistent with mutual fund general practices, trades are executed using the value at the close of the day during which the order is placed. Changes submitted after market close, on a weekend, or on a stock market holiday begin processing on the next business day at that day’s closing prices. For example, a change made at 4:01pm EST on Friday will be processed on Monday using the prices as of Monday’s market close, assuming that Monday is not a stock market holiday.

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