WORKING WITH SMART SETS

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1 WORKING WITH SMART SETS PortfolioCenter has many data management tools to help you organize and manage portfolio and securities data. One of those tools, Smart Sets, has many applications. This document discusses high level information about Smart Sets and then provides links to documents with additional information or step-by-step instructions. WHAT ARE SMART SETS AND WHY TO USE THEM In PortfolioCenter, you can segment your client base using Sets. There are two types of sets: Static Sets Smart Sets While each set types are considered a data management tool in PortfolioCenter that can help you segment your client base by characteristics most important to you so you can enhance service levels and save time with data preparation, the difference between them is determined by how the members are added to the set. Static Sets rely on you selecting the members manually. Smart Sets, on the other hand, determine set membership based on portfolio and group rules you define either in the Rules Manager or in the details of the Smart Set. Portfolio and Group Rules are built on criteria from the portfolio and group details or portfolio custom fields or any combination of them. For more information about these topics, see: Smart Sets vs. Static Sets Working with Rules DocumentID: spt Last Updated: July 10, 2012

2 EXAMPLES OF SMART SET USES Smart Sets, like Static Sets, have a wide range of uses that can help you manage certain activities more efficiently. This section discusses the benefits of using Smart Sets with some of these activities. BATCH JOBS Use Smart Sets to manage the printing and archiving of client presentations. One application of this is segmenting your client base into thirds and reporting monthly so you only have to manage reporting and billing for a third of your clients at a time. Some examples of Smart Sets you could create for Batch Jobs are clients by: Advisor Investment Policy Model Assigned EXPORT WIZARD Use Smart Sets with the Export Wizard to limit the number of records you have to use for additional analysis or troubleshooting. Smart Sets are particularly helpful when exporting data for rebalancing, use with other applications or when troubleshooting. TRANSACTION WRITER WIZARDS Using Smart Sets with the Transaction Writer Wizards mean you only produce transactions for the affected accounts. While you could still delete or block transactions before posting them, using a Smart Set will avoid creating the unnecessary transactions in the first place, making the data entry more efficient. The most common application of Smart Sets in the Transaction Writer is the Taxable Portfolios Smart Set, based on the Taxable check box in the Portfolio Details. Working with Smart Sets Page 2 of 5

3 GLOBAL REPORTING Like the Export Wizard, PortfolioCenter Global Reporting provides information about several clients at once. In fact, there are a few reports like the Composite reports that require a set to even produce a report. Use Smart Sets in global reports such as Billing Summary to limit the number of pages printed and focus in on only the clients requiring your attention. CREATING SMART SETS Smart Sets rely on Portfolio Rules built on Portfolio and Group Details and Custom Fields and there are several ways to create smart sets either using existing rules or by creating a new rule at the time you create the new Smart Set. Online This section discusses the highlights of the various ways to create a Smart Set. For more detailed, step-by-step instructions for creating a Smart Set, see Using Set Builder to Create a Smart Set. USING RULES MANAGER One of the easiest ways to create a Smart Set is by using a rule you have already created, most likely for a View. Using the Rules Manager, found in the Set Builder by clicking the Manage Rules button, select the rule you want to use to create the Smart set, and then click the Create Smart Set button. Working with Smart Sets Page 3 of 5

4 USING SET BUILDER If you don t already have a rule, you can create one at the same time you create the set. In Set Builder, click the Add button to open the details of a Smart Set. The details include a Rules tab where you can set the criteria for your set members and a Members tab where you can verify that the clients you want to see in the set are included. USING THE NEW BUTTON ON THE SETS PAGE Another way to create a Smart Set rule as you are creating the Smart Set is to use the New button on the Sets page. From the dialog that appears, select the radio button to create a new Smart Set. From there, you will see the New Smart Set dialog, where you can set the criteria and check set membership as you create the set. Working with Smart Sets Page 4 of 5

5 SET MEMBERSHIP Smart Set Membership is dynamic, so membership can change based on the details and settings in the Portfolio or group details, making them a powerful tool for client management. REVIEWING SET MEMBERS At any time, you can review the members of a Smart Set by opening the set and clicking the Saved Members tab. This list should show you the names of the accounts included as well as a total number of members at the bottom of the page. UPDATING SMART SET MEMBERS While Smart Set membership is dynamic, it is not automatic. If you find that set members are missing from the Saved Members list, you will need to update the Set Members. The most efficient way to update Set Members is to include all sets in the Batch Update and click the Update Batch button. For more information about updating set membership, see Updating Smart Set Membership. For institutional audiences only. PortfolioCenter, PortfolioServices, and Schwab OpenView Integrated Office are products of Schwab Performance Technologies ( SPT ). SPT is a subsidiary of The Charles Schwab Corporation separate from its affiliate Charles Schwab & Co., Inc. ( CS&Co ). CS&Co is a registered broker-dealer that provides brokerage services, while SPT licenses software and provides related technology products and services Schwab Performance Technologies ( SPT ). All rights reserved. Working with Smart Sets Page 5 of 5