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Account Fees.

General questions about using Fund Manager that do not fit into any other forum.

Postby aviator » Mon May 08, 2017 11:44 am

Hi Mark,

My broker is changing the way they calculate fees.

In the past, fees were based on portfolio market value as of the last day of the quarter. I have a small spreadsheet where I plug in the portfolio market value at the end of the quarter and I know in advance how much will be deducted from my account.

Going forward, fees will be based on the cumulative total of each day in the quarter. The same percentages applied to the quarter-end market values will now be applied daily, with their system adding each days fees to the previous days until quarter end.

Is there a way to track this in FM? I have the professional version, but the calculations needed to pull this off make my head hurt.
aviator
 
Posts: 419
Joined: Thu Jul 09, 2009 4:47 am

Postby Mark » Mon May 08, 2017 12:29 pm

Hi aviator,

You can define your own equation to calculate the cumulative daily values. Use this equation:

SUM(STARTDAYS() ,ENDDAYS() ,End_value ,0 )

which will sum all the weekday ending values between the report's starting/ending dates. If you wanted to get your fees, add in the rate, so something like:

SUM(STARTDAYS() ,ENDDAYS() ,End_value ,0 ) * 0.0001
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Postby aviator » Mon May 08, 2017 1:20 pm

Thank you. Two questions, please:

1) Is there a field that tells how many business days there are in a quarter? Actually, a count of the number of prices/security will likely tell me the same thing, but can't find that either.

2) My portfolio is in a tiered fee structure. For example, let's say I have a $150 portfolio. I get charged a certain percent at x portfolio value (say 1 percent for the first $100 of the portfolio), y for the next tier (.75 percent from $101 to $130), z for the one above that (.60 percent from $131 to $150) and so on. Can the rate formula you provided accommodate my fee structure?

It would be great if I could dump Excel in favor of all calculations done in FM.

Thanks.
aviator
 
Posts: 419
Joined: Thu Jul 09, 2009 4:47 am

Postby Mark » Mon May 08, 2017 1:50 pm

Hi aviator,

1) You can get the number of week days (not business days) with an equation like:

DAYS2NWDAYS(ENDDAYS()) - DAYS2NWDAYS(STARTDAYS()) + 1

2) Management fee methods are supported in the Advisor version, and would support this tiered method. See:

https://www.fundmanagersoftware.com/hel ... _prop.html

You can use a "% of Average Value" method and a "Tiered" percentage.

You can also do this in Excel. See "File / Export / Other / Portfolio Value...".

It might be possible to do this calculation using a defined field in a custom report, but it gets complicated quickly...
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 11253
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ

Postby aviator » Mon May 08, 2017 2:23 pm

Thanks, Mark. Yes, it does get complicated quickly.

Followed your link to the Advisor version. I can see an immediate need for some features. What is bulk reconciliation? Will it reconcile all sub-portfolios in a given tree?
aviator
 
Posts: 419
Joined: Thu Jul 09, 2009 4:47 am

Postby Mark » Mon May 08, 2017 3:19 pm

Hi aviator,

Bulk reconcile is useful if you have institutional data files from a broker. Advisors can get a set of files that have all their client's transactions/positions/etc. You can use these in the Bulk Reconcile to reconcile all accounts at once. It reconciles any sub-portfolio with an account number. You can see a bulk reconcile in our Reconciling Tutorial (towards the end).
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 11253
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ


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