This report details the deposits and withdrawals within an account. This report includes both cash and security transfers.
Tip: If you want to assess only cash deposits and withdrawals you can filter to "cash" under description.
What is included in the number you are looking at? (calculations, source, etc.)
This report includes both cash deposits and withdrawals as well as the value of security deposits and withdrawals. The value of security deposits and withdrawals is calculated by multiplying the units being transferred and close price on the transfer day.
Why have we chosen to include and/or calculate the number the way we do?
All of these values are necessary for understanding and reconciling changes in account value and performance. While it is common to focus on cash deposits/withdrawals, the security information is helpful context as well.
How can this report be used in a client review to help boost your clients' confidence, increase transparency, and answer questions?
This report is particularly useful for cash flow conversations with your clients, including clients in the "saving" and "distributing" phase of their life. Consider the following tips and best practices to leverage this report in your client reviews:
Aids planning conversations, by helping answer the question, is the client on track with the contributions they are making?
Helps identify the need for and supports conversations regarding high withdrawal rates
Allows you to locate specific security transfers if consolidating account assets or otherwise expecting asset transfers from your clients
Helps you keep your clients accountable to their savings goals
Conversely, if you client is in a distribution phase to ensure they are not taking out too much or too little from their portfolios