Money Manager Assignment

Instructions

All Professional Financial Advisors are considered to be Wealth Managers. As a Wealth Manager, you can optionally add Money Managers to trade for your client accounts. Money Managers direct trading and investment activity in client accounts. They cannot add client accounts, fund client accounts, set client fees or set client trading permissions.

Advisors who are part of a three-level broker account structure cannot link to Money Managers.

A Money Manager must first complete a separate Money Manager account application. Once a Money Manager’s account is activated, you can add him or her to your account, then assign client accounts to them for trading purposes, set trading permissions and set client fees. Both Money Managers and Wealth Managers can trade for client accounts. After the Money Manager’s account has been activated, you as a Wealth Manager perform the following steps:

1. Access the Money Manager Marketplace and shop for available Money Managers. Either contact a Money Manager directly or request that a Money Manager contact you.

2. Once you and the Money Manager have agreed to do business together, add the Money Manager to your account by using the Add button in the Money Manager Marketplace, or use the Money Manager Assignment page.

3. To add a Money Manager the Wealth Manager will log into Advisor Portal and select Settings > Account Settings > Click the Configure (gear) icon for Money Manager Administration > Select + to add a new Money Manager.

   • Money Managers must log into Advisor Portal with their username and password to accept assignments from the Wealth Manager.

   • The first time a Wealth Manager adds a Money Manager, the Wealth Manager must enter a code up to four letters long called a Mnemonic that will be used as part of a Virtual Account Number in place of the Wealth Manager Account ID on all reports, and when setting up client fees and client trading permissions. This is a security feature to protect the WM account ID.

     The Money Manager must also enter a code up to four letters long when he or she accepts the Wealth Manager Assignment. This Mnemonic will be used in place of the Money Manager Account ID in the Virtual Account Number on all reports

4. Once accepted, the Wealth Manager will login to assign the client account to the Money Manager under Settings> Account Settings> Money Manager Administration> next to the Money Manager select the gear icon.

   • The Wealth Manager will have the following options

     • Add Client Accounts

     • Remove Client Accounts

     • Default Fee Template

5. Set Up Client Accounts - This step includes assigning client accounts to a Money Manager, setting trading permissions and Money Manager client fees (fees that will be paid when the Money Manager trades for client accounts).

   Money Managers can start trading the next business day (client assignments and trading permissions require one business day to take effect). But Money Manager client fees will be collected from client accounts and transferred to the Money Manager only after the client signs the Money Manager client agreement.

6. Once opened, the Wealth Manager will log into Advisor Portal to transfer funds/positions to the Money Manager client accounts. Fund Client Accounts - See Fund Transfers or Position Transfers for detailed instructions.

   When you assign a client account to a Money Manager, we create a second version of the client account that is linked to the Money Manager. When you fund or transfer positions into a client account for a Money Manager, you are actually funding or moving positions into the linked client account.

   In addition, Wealth Managers can perform the following optional steps:

   • Modify Client Fees for a Money Manager
   • Modify Trading Permissions
   • Change Money Manager Client Account Assignments
   • Remove a Money Manager

 

Additional Resources

Learn About the Advisor Portal Interface at IBKR Campus

Visit the IBKR Advisor Portal Website

Log in to Money Manager Administration