Interactive Brokers introduces new Advisor Model Marketplace
The new Advisor Model Marketplace is a searchable database of downloadable investment model compositions.
Online trading major Interactive Brokers has introduced its new Advisor Model Marketplace. This is a searchable database of downloadable investment model compositions.
Models are designed and offered by third-party vendors, at no cost, to RIAs for use with their own clients. Once customers are subscribed to this feature, they can browse the available vendor models or search by filtering on desired Risk, Asset Class, Rebalance Frequency and other attributes. Once they find the model you like, they should download it as a .csv file, then import it to TWS to use for one’s clients.
To use models and access the Model Marketplace, one must first enable Model Portfolios in TWS and then enable Model Marketplace. To do this:
- Log into Client Portal.
- Select Settings then Account Settings.
- From the dashboard, click the configuration icon next to Model Portfolios and Model Marketplace services to subscribe.
Once you are subscribed, log into TWS. Open the Advisor Setup page (from the toolbar, of from the Portfolio page by selecting Models Setup from the Display Selector). From the Models tab click the Browse Vendor Models button. This opens the marketplace.
One can find a vendor model by browsing the marketplace. From the model page, click Download composition in the bottom right corner to download the .csv file. By default this file is saved to your downloads directory or wherever you have specified downloaded files to be saved.
Back in the Advisor Setup page, Create a model. Next, open the Rebalance window select this newly created model from the Select Account list. Click Import and find the downloaded model in your downloads folder to open. Modify percentages and fine-tune the model composition for your clients.
In the latest beta releases of its TWS platform, the brokerage has enabled charting for funds.
The company invites traders to check back often for more updates on funds enhancements, including the ability to screen over 11,000 funds from over 240 fund families to help narrow one’s selection, a Mutual Funds scanner, rating and style scores for funds, and much more.
