Cache exchange fund positions can be included in your client portfolio reports and your firm's quarterly billing. Most advisors use one of two approaches: a manual entry in their existing performance reporting software, or a data feed at Schwab.
Manual reporting in your performance reporting software
This approach works with Orion, Black Diamond, Addepar, Tamarac, and similar tools.
Create a "Pending Cache Exchange Fund" line item and use the stock value on the date of transfer to your client's Cache brokerage account (held at Apex).
Once the exchange is complete, remove "Pending" from the line item and update the value to the initial contribution value reported in the advisor portal.
If you bill on an AUM-based fee schedule, you can include the Cache exchange fund position in your next billing cycle and deduct the fee from the taxable brokerage account you manage.
Update the value of the Cache position every 2 to 4 weeks as new statements post to your advisor portal.
Schwab data feed
Cache exchange funds can be displayed at Schwab through a data feed. Once your client invests, you can set up a connection so their exchange fund shares appear as a line item in their portfolio. Schwab's current turnaround time is 6+ weeks to process your request, so many advisors use the manual approach above in the meantime.
To get started, email support@usecache.com with your client's name and we will send the data feed instructions.
Please ensure that the account registration in your client's Schwab account exactly matches their Cache investment before submitting a request.
For example:
An individual Schwab account with a TOD designation requires the same designation on the Cache investment.
A joint Schwab account cannot accept a data feed for a trust titled Cache investment. The Schwab account would need to be retitled before the data feed can be set up.
A note on Fidelity
We have not been able to establish the same reporting setup on the Fidelity platform. As an alternative, you can create a private fund position using performance reporting tools such as Orion or Black Diamond, following the manual steps above.
In either case, you will be able to include the Cache position in your client's portfolio reports and your firm's quarterly billing.