Holistic Management of Portfolios that Include Separately Managed Accounts

摘要

Computer-implemented methods for transforming an investment portfolio that contains at least one separately-managed subaccount. Once instructions are received from a user with respect to cashflows, a net present value of future income is calculated for each separately managed subaccount considered as included within a taxable account or tax-advantaged account. A gap is then calculated between current and expected after-tax values of incremental withdrawals from each of the taxable and tax-advantaged accounts, as well as risk, tax, and location scores. On the basis of a combination score, putative trades are evaluated, with sales and purchases assigned to subaccounts, and the investment portfolio is transformed by implementing trades on the basis of the forgoing processes.