The following is intended to be used as a guide to walk you through some of the basic applications of Investor's WorkStation.

We suggest that you open your browser and go to QuickStart Help, reduce the borders of the mhj3.com Window and run Investor's WorkStation at the same time as illustrated in the image to the right.

Scroll through QuickStart Help and perform each operation in Investor's WorkStation as you read the step-by-step QuickHelp instructions.

As you become familiar with investor's WorkStation all of the QuickHelp operations can be done in minutes, moments, or seconds.

As you go through the program, I suggest that you think of it in terms of what you would do if you were going to create a portfolio management software program to help you create, manage, monitor, modify, and measure all of your clients' investment portfolios.

In general, I believe that you would want to combine the benefits of an efficient assembly line process with the advantages of being able to take into consideration specific investor investment needs; build one car but assemble with different colors and accessories.

I suggest that you would first want to design your own investment assembly line universe by defining, applying, and enforcing your own investment disciplines, rules, and tasks that are reflective of your investment style to create a central investment theme and variations on that theme to match current market conditions, the investment outlook, investments, and investment portfolios with specific investor investment profiles.

Second, I suggest that you would want to be able to create cash only allocated investor specific investment portfolios and investment portfolios for investors with existing investments by blending, to the extent and when desired, and allocating investors' existing investments with your model portfolios quickly and completely.

Third, I believe you would want to be able to modify and create new investment portfolios as investor investment needs and market conditions change by allocating, rebalancing, reallocating, and investment replacing one portfolio at a time, a few portfolios at a time, or all portfolios all at once to keep all investment portfolios up to date, structurally sound, and competitive.

If you feel the same way, Investor's WorkStation is for you.

All of the following is explained in complete detail @ mhj3.com/Home/Investor's WorkStation Help.

Price Alerts, Sector Alerts, Import Portfolios, Export Trades, and Billing Center have intentionally be excluded from this introduction. See Screenshots.

Print QuickStart Help.

Investor's WorkStation Tutorials

Tutorials

Comment

There is an Investors WorkStation learning curve; however, after understanding the components of Investors WorkStation and after completing the System Setup, building, managing, modifying, monitoring, and measuring individual, selected, or global investment portfolios will take you moments to create, view, and print. 

The following QuickView lists the general capabilities and process of Investor's WorkStation and includes a very simple illustration of the portfolio building and modification process.

Setup 

• Add and select Investment Sectors, Categories, and Quality.

  • Many of the Standard Investment Sectors, Categories, and Qualities are preinstalled. Select and add your own as being descriptive of your investment universe.
  • For example, let's assume the only Investment Sectors you use are Large Cap. Equities and Medium Cap. Equities, the only Investment Category is Computer & Peripheral, and the only Investment Quality you consider is "A."
  • Create modifiable Allocation Table Matrixes that define the scope and boundaries of investment universes by selecting and weighting any number, combination, and type of Investment Sectors at 25 different Matrix Intercepts that are reflective and descriptive of 25 different investor investment profiles; different combinations and levels of investment risk constraints and income/capital growth objectives.
• Typically the middle Matrix Intercept (3/3) represents a central investment theme for a middle of the road investor seeking both income and capital appreciation and willing to assume a moderate level of investment risk and the other Matrix Intercepts are simply variations on that theme for different investor investment profiles.
  • Go to Allocation Table Matrixes, enter each matrix intercept and enter various Investment Sector weightings of your two Investment Sectors with the requirement of regardless how you weight each Investment Sector at each intercept, the total must add up to 100%.
  • The total Investment Sector weightings of 100% at each Matrix Intercept is critical so that the total capital to be allocated is applied.
  • Using one matrix intercept as an example, a 3/3, a middle of the road investor, you have decided that each of your two Investment Sectors will be weighted equal at 50%; a total of 100%.
  • This means that if an investor had $100,000 to invest, an initial allocation of capital would result in $50,000 going to each Investment Sector.
• Understand that you can use and weight as many Investment Sectors as you like at each matrix intercept as long as, once again, the total Investment Sector weightings add up to 100%.
• You can create as many Allocation Table Matrixes as you like; general for equities only and mutual funds only, a combination of both, specialized ones for the Dow Dividend Theory and for a trading account.

• Add investments to a Master Database comprised of equities, mutual funds, money managers, and user defined investments.

  • Let's say you have decided to use IBM and Dell for your Large Cap. Equities and only CSCO for your Medium Cap. Equities.
  • These investments happen to be in the Master Database already. If they were not, you would simply add them to the Master Database.
  • Assign an Investment Sector (which activates the investment for Internet Price Updates) and Investment Category to each investment within the Master Database; for example for IBM the Investment Sector would be Large Cap. Equities and the Investment Category would Computer & Peripheral.

• Download Master Database investment prices from the Internet as needed to give each investment a price.

  • If an investment does not have a price, capital cannot be allocated to it within its assigned Investment Sector.

• Create modifiable Advisor Databases which are used to populate the Investment Sectors of linked Allocation Table Matrixes by Investment Weighting and by Investment category.

  • Create an Advisor Database by first linking it to a selected Allocation Table Matrix and then open a Window which shows the two Investment Sectors used in the selected Allocation Table Matrix; Large Cap. Equities and Medium Cap. Equities.
  • Enter each Investment Sector and select the investments you want to use by double-clicking on each investment; IBM, DELL, and CSCO.
• After adding the investments go to a Window that shows the selected investments in each Investment Sector and weight the investments as you like within each Investment Sector.
  • In this case IBM and DELL would appear in the Large Cap. Equities Investment Sector and CSCO would appear in the Medium Cap. Equities Investment Sector.
  • You decide that you want to weight IBM @ 60% and Dell @ 40% in the Large Cap. Investment Sector and you would weight CSCO 100% because it is the only investment in that Investment Sector.
  • You could, of course, add as many investments as you like in each Investment Sector with the total weighting adding up to 100%.
• Create as many Advisor Databases comprised of any investments associated with their respective Investment Sectors as set by you in the Master Database.
• You are now ready to create investment portfolios.

Process

• The investor has $100,000 cash only.
  • Go to Investors, add or import the name and account number, select the desired Allocation Table Matrix and associated Advisor Database.
  • Go to Allocate Portfolios, enter the cash, set the cash reserve, if any, select the appropriate matrix intercept, and click on apply capital.
  • The new allocated portfolio will be created.
  • In this case you have selected a 3/3 as being suitable for this investor.
  • $50,000 will be initially distributed to each investment sector.
  • Within each investment sector, $30,000 will be allocated to IBM, $20,000 to DELL within the Large Cap. Equities Investment Sector and $50,000 will be allocated to CSCO, the only investment in the Medium Cap. Equities Investment Sector.
  • Create a Trade Report to view the Buy/Sell/Hold report to use, if you like, to call in the trades, Buys only in this case or create a Trade Export to execute the trades with your custodian.
• The investor has $100,000 cash and IBM.
  • Let's say you have imported this new client and his/her existing investment portfolio. You can enter the positions manually.
  • After the portfolio is imported and titled with name and account number, go to Blend Portfolios.
  • At Blend Portfolios, select the investor and the Allocation Table and the linked Advisor Database you want to use.
  • Click on your mouse, create an initial blend of the investor's existing investments and the Advisor Database investments.
  • Click on next and see the initial blend; all of the investor's existing investments and all of the Advisor Database investments.
  • Go to each Investment Sector at Investment Weightings; Large Cap. Equities and Medium Cap. Equities.
  • In the Large Cap. Equities, you will see both IBM and DELL.
  • DELL will be weighted, as you would expect @ 50%.
  • IBM, because it is in the investor's existing portfolio, will replace the IBM used in the Advisor Database as a number of shares and with a zero weighting.
  • The Investment Sector will only show a total of 50% because, obviously, the Advisor Database weighted investment of IBM @ 50% has been replaced.
  • You have the option to decide what to do with IBM; delete IBM to sell 100% of IBM, leave IBM alone to hold 100% of the investor's existing position of IBM, or weight IBM to allocate it as defined by the selected Advisor Database; for example back to 50%.
  • Or, you can weight IBM as you like and reweight DELL to bring the Investment Sector back to a 100% weighting. If more IBM is to be purchased as a result of the weighting resulting in more capital being allocated to it than the initial holding of the investor, Investor's WorkStation will calculate the new average investment cost; the initial cost and the new cost for the added shares.
  • The blend feature enables you to blend, build, and allocate investment portfolios while taking into consideration an investor's existing investments, and allows you to change the investor's existing investments to the extent and when desired.
  • For example, if the investor held a large quantity of IBM with a large capital gain, you may only want to sell only a small portion of IBM, by weighting it @ 80% for this example, and include the proceeds of the sale of a portion of IBM part of the general allocation of capital.
  • You would then go to Allocate Portfolios, as done in the prior Cash Only example, and allocate the portfolio to create a New Blended and Allocated Portfolio.
  • If, when allocating a portfolio, a position is increased, the program will calculate the new total position and the new average cost.
  • Create a Trade Report to view the Buy/Sell/Hold report to use, if you like, to call in the trades, Buys and possibly a Sell in this case (depending on what you decided to do with IBM) or create a Trade Export to execute the trades with your custodian.
• You have decided you want to sell DELL in all accounts that hold it and replace it with MSFT.
  • Go to Block Trade and add DELL as the Sell and MSFT as the BUY.
  • Enter the Trade.
  • Go to the Trade Window and select/deselect the portfolios holding DELL you want to include in the trade and select the percentage of DELL you want sold in all of the selected accounts.
  • Select cost (LIFO, FIFO, HCOST, or LCOST) to be used in each portfolio.
  • Click on Trade and the trade is completed and MSFT will replace DELL in all of the portfolios as selected and set.
  • Create a Trade Report to view the trade and to use, if you like, to call in the trade as a total and as individual account numbers, titles, and quantities of Buys and Sells for each position, or create a Trade Export to execute the trade with your custodian.
• You have decided you want to Rebalance individual, selected, or global investment portfolios to set the portfolios to their initial Investment Sectors and investments weightings.
  • Select the portfolios.
  • Select cost (LIFO, FIFO, HCOST, or LCOST) to be used in each portfolio.
  • Click on Rebalance at the portfolio for an individual Rebalance or at the Main Menu for multiple portfolio Rebalancing.
  • A new individual Rebalanced portfolio or multiple Rebalance portfolios will be created.
  • The illustration portfolio now has a total value of $200,000 because of the major price change in IBM.
  • @ Rebalance $100,000 will go to Large Cap. Equities and $100,000 will go to Medium Cap. Equities.
  • IBM will get $60,000 and now MSFT (if all of DELL is sold) will get $40,000 or, if only a portion of DELL was held, all positrons, IBM, DELL, MSFT will be allocated capital based on their percentage weightings within their Investment Sector. CSCO will get $100,000.
  • Positions that are increased in the Rebalance will have new total shares and a new average cost.
  • Buy/Sell/Hold reports and Trade Exports are created for both individual accounts and for multiple accounts (buy total and by accounts).
• You have decided you want to Reallocate portfolios individual, selected, or global investment portfolios to new combinations, selections, and weightings of Investment Sectors and underlying investments.
  • Enter and change the Allocation Table Matrix and Advisor Database used to create the portfolio(s).
  • Select the portfolios.
  • Select cost (LIFO, FIFO, HCOST, or LCOST) to be used in each portfolio.
  • Click on Reallocate at the portfolio for an individual Reallocation or at the Main Menu for multiple portfolio Reallocation.
  • A new individual Reallocated portfolio or multiple Reallocated portfolios will be created.
  • Buy/Sell/Hold reports and Trade Exports are created for both individual accounts and for multiple accounts (buy total and by accounts).
• You want to Import Portfolios.
  • Select the custodian import file.
  • Import.
  • Existing portfolios will have the account title and number linked to the import account number.
  • New portfolios within the program will have to be linked, one time only, to the import account numbers.
  • New investments and added shares of existing investments will require investment costs to be entered.
  • Investments with multiple purchase dates and different costs may be entered individually by trade and by the total shares. Average costs for increased positions will be calculated.
  • Investments with a single purchase date and the same investment cost and all accounts with the same investment, single purchase date, and same investment cost may be entered as a single entry.
  • The program holds costs for future portfolio imports.
  • You will be prompted at future portfolio imports to add investment costs for new investments and for added shares for existing positions.
  • You can also import a custodian's executed trade file to add trade/investment costs.
  • For investments that always have the same cost, money market for example, go to the Master Database, enter the symbol to find, double-click on the investment to bring it up. You will notice a check box to the right of the symbol. Check it and the cost will be automatically be used when that investment is imported.
  • In general, you will want to import updated portfolios before continuing the portfolio management process so that you will be using the latest, correct positions and values.
• You want to Rebalance/Reallocate portfolios after you have imported updated portfolios.
  • The process is the same as presented earlier but with a twist; "Wt."
  • We'll use Rebalance only in the following explanation.
  • "Wt," to the right of Incl., is a key concept!! This concept is explained again with images @ Investor's WorkStation Help/Import Portfolios @ Main Menu
  • The reason for this option is a practical one. You have many portfolios. You want to Rebalance them. You want the very latest positions and valuations because circumstances beyond your control, such as added cash, more shares of an existing position, the deletion of a prior position, added dividends and interest, and the reduction of cash for management fees are not in the existing portfolio within the program.
    • A portfolio has $10,000 more in it now at the custodian than what you have within the program and a position you used in the initial creation of the portfolio is reduced or even deleted, for whatever reason. Clearly you do not want to start from scratch before rebalancing the portfolio.
  • You would like to Rebalance the portfolio taking these slight changes into consideration; Rebalance with the reduced or deleted position restored and the latest total value of the portfolio included.
  • You could go to each portfolio and make the changes manually.
  • Importing portfolios and leaving Wt unchecked makes the update changes for you.
  • The concept is simple. When you create a portfolio, each investment has an initial weighting as defined by the original Allocation Table and linked Advisor Database and, if any of an investor's initial investments continue to be held, as weighted by you.
  • As the prices in the portfolio changes, the initial investment weightings remaining the same so that when you select rebalance, investments will be reset to their original investment weightings.
  • An issue arises because the investments held at a custodian may change between imports for several reasons; deposits, dividends, and interest, etc.
  • The portfolio in Investor's WorkStation will be slightly different than the actual portfolio at the custodian.
  • Rather than importing the current positions with their current weightings leave the program default as set with WT unchecked (to the right of Incl).
  • This means that the portfolio will be imported with the current import positions, but the position weightings will be the same as the original position weightings in Investor's WorkStation as defined by the original Allocation Table and linked Advisor Database used to create the portfolio so that you can go directly to Rebalance Portfolios if you like.
• Our illustration continued from above will, hopefully, help explain this option.
• You want to import the portfolio before you Rebalance because you want the very latest positions and values.
• By deselecting/unchecking Wt (default setting), the imported portfolio will be imported with the new values and updated shares, if any, but the weighting of prior positions now being imported will have their original weightings.
  • For whatever reason, IBM has more shares at the custodian; the client deposited more shares.
  • Though IBM has a greater Investment Sector weighting at the custodian, it will imported as 60%, the same as the IBM position weighting within the portfolio currently in the program.
    • There is more cash in the portfolio because of dividends, interest, and client deposits (though not used in this illustration).
    • New positions, none in this case, will show the number of shares and will have a "0" weighting as would any new investment imported for the first time would have to be included in the portfolio Blending process.
    • Deleted positions at the custodian and currently existing in the portfolio within the program, none in this case, will be added back in at their prior weighting but will be Rebalanced at the current Buy costs.
• When you open the new imported portfolio, the new current value of the portfolio will appear and will be used in the Rebalance, added shares of IBM to a prior positions will be included.
• If, for example, MSFT had been deleted (an isolated sale, the ordering out of a stock certificate by the client), when Wt is deselected/unchecked a portfolio import will also retrieve the original weighting of MSFT from the prior portfolio and, when the portfolio is Rebalanced, capital will be applied to MSFT at the current price and the original weighting.
• The point of this is to take into consideration the changes in an existing portfolio when you want the latest, exact positions and values before Rebalancing.
• Without this capability, you would have to blend and allocate each imported, updated portfolio to take, what will be typically minor valuation and position variations, into consideration when Rebalancing.
• Selected/Checked Wt means that the portfolio will be imported with the current import positions and their current import weightings by investment sector(s).
• This option is most often used when importing a new portfolio for the first time and when there is no related portfolio in the system
• With regard to importing an update of a prior when using the selected Wt option, the import may look little or nothing like the prior and, therefore, diminish or eliminate the value of a Rebalance.
• For example, if only IBM remained in the Large Cap. Equities Investment Sector at the custodian, when imported it will come in as 100% weighting. The imported portfolio will not show MSFT.
• In effect, you are saying you want this portfolio to replace the prior and to start all over again in the building, blending, and allocating process, but that you still want to use the original investment costs where applicable.
• You want to export trades to a custodian and import executed trades to update portfolios. Go to: Trade Exports/Imports.
• To see all report options with report synopses, go to Individual Investor's WorkStation Reports | Portfolio Creation, Management, and Processing Report

Start @ Main Menu.

Click on system Setup.

Click on Sectors. Click on the New Icon to add.

Sidebar: The numbers preceding descriptions are used to determine the order of appearance of Sectors on reports; safe to aggressive for example. Without numbers, Sectors will appear alphabetically on reports.

Categories and Quality are managed the same way.

You may delete any/all of the above by highlighting an entry and then by clicking on the middle "trash can" icon.

If a Sector or Category is in use in Investor's WorkStation, you will have to delete the sample Allocation Table Matrixes, Advisor Databases, and Investor Portfolios first as Investor's WorkStation will not let you delete anything that is in use.

Simple Solution: When you order Investor's WorkStation, ask for one with empty databases. You can start from scratch.

Sidebar: The Investment Sectors and Investment Categories preinstalled in Investor's WorkStation, though I use some of them, are for illustration purposes only.

There a many ways to categorize investments; it is up to you.

You can create your own general/primary investment catalogue using Investment Sectors and specific/secondary investment catalogue using Investment Categories.

Go back to System Setup @ the Main Menu and click on Allocation Tables. Double-click on Mutual Funds.

Sidebar: Click on the New Icon to create a new one.

The Allocation Table Matrix is used to define the scope and the boundaries of your investment world(s) by Investment Sectors to create different allocations of capital for different investor investment profiles.

The weightings you select for each Investment Sector @ each matrix intercept will determine how capital will be initially allocated to each Investment Sector when you create unique investment portfolios that match investors' investment risk tolerances and income/capital growth objectives..

As you will see later, an Advisor Database (Model Portfolio) is composed of user selected and weighted investments by Investment Sectors that will populate the Investment Sectors used in a linked Allocation Table Matrix.

Click on the middle matrix intercept and all of the preinstalled Investment Sectors and your added Investment Sectors will appear.

A 3/3 (the matrix intercept selected) represents a middle-of-the-road investor willing to assume moderate investment risk and seeking both income and capital growth and should represent the central investment theme of the Allocation Table Matrix and linked Advisor Database (Model Portfolio).

The matrix incepts surrounding the center matrix intercept (3/3) enable the user to create variations on the central investment theme; as you move to the left and up increase the weightings of, for example, Bonds/Bond Funds types of Investment Sectors and as you move to the right and down increase the weighting and then reduce the weighting of, for example, Large Cap./Equities/Equity Funds types of Investment Sectors.

When you open the 3/3 matrix intercept, scroll down to the Investment Sectors that have been selected.

Select (highlight), double-click, and weight the Investment Sectors you wish to use for that matrix intercept investor investment profile.

Sidebar: You do not need to fill in all Matrix Intercepts; just the ones you will use.

By default, when you open the next matrix intercept, the prior intercept investment sector selections and weightings will appear simply to aid you in making modifications to the new intercept.

Sidebar: Some users have and just want to use four, for example, model portfolios without any variations for each model portfolio.

Create a new Allocation Table Matrix, give it a title like Conservative, select one, and one only, matrix intercept and select and weight the Investment Sectors you use in your Conservative model portfolio.

Create additional new Allocation Table Matrixes for each of your other model portfolios.

When you create new portfolios for clients, select the appropriate Advisor Database (Model Portfolio), to be explained later, and linked Allocation Table Matrix, Conservative in this case, go to the matrix intercept that you selected when creating the Allocation Table Matrix, and create the portfolio.

Sidebar: I consider a 1/1 to be the most conservative investor, one step removed from keeping money under the mattress, a 1/5, to the right, as an investor who would typically use a bank trust department, a 1/5, down, as an income speculator, a 5/5 as a trader/speculator/gambler, and, as stated earlier a 3/3 as a middle of the road investor willing to accept moderate amounts of investment risk and and seeking both income and capital growth.

Sidebar: As it is easy to lose your place while generating different matrix intercept investor investment profiles, go to the middle matrix intercept, a 3/3, and arbitrarily weight ALL of the Investment Sectors that you may want to use @ different matrix intercepts, print the Allocation Table Matrix report, all of the selected Investment Sectors will appear at each matrix intercept, with only the middle matrix intercept weighted, and, with a pen, weight actual selections of Investment Sectors on the report at each intercept, the initial 3/3 included (kind of like doing a crossword puzzle), and then go to each intercept in the program and select and weight accordingly.

Decided to add an Investment Sector not originally selected? Go back to the program, select a matrix intercept, add and weight the Investment Sector, print the report, and proceed.

Remember that you do not need to use the same Investment Sectors @ each Matrix Intercept and that you can use from one to all Investment Sectors @ any matrix intercept simply by weighting the selected Investment Sectors.

The only rule is that the total weighting(s) for Investment Sectors @ each matrix intercept must add up to 100%. Why? So that when you allocate a portfolio, 100% of the capital to be allocated can be allocated.

Again, you need only populate as many matrix intercepts as you will use.

You may modify an Allocation Table Matrix by selecting a matrix intercept and then by highlighting and double-clicking on any Investment Sector to change the weighting.

Weight as desired.

...down to 5% for example.

Click OK.

Select any other Investment Sectors and reweight.

To exclude an Investment Sector, give it a zero weighting.

The total weighting at each intercept must add up to 100%.

You may also change the selections, combinations, and weightings of Investment Sectors and underlying investments as the investment environment changes.

This will be covered @ Reallocate Portfolios.

Click on Master Database.

The New icon is used to add investments.

Sidebar: Command gives you different Master Database sort options.

The red dollar ($) sign may be clicked to initiate an Internet Price Update for the Master Database.

The Print icon opens to offer different Master Database reports print options.

The turquoise icon is used to adjust for stock splits.

The Flashlight icon is used to find an investment by symbol in the Master Database; enter the symbol, click OK, and double-click on the highlighted investment to open the Master Database Entry Window.

Click on the New Icon

Add Description.

Type in the symbol.

Select an Investment Sector.

The red dollar sign ($) is used to update an individual investment

Select an Investment Category.

This information will be used in reports and also activates the investment for Internet price updates.

Select Dividend Type if needed.

The price information lines, the bottom two, will be filled in when prices are updated.

User Defined Investments may be price updated manually in this Window and will flow through to all reports.

Note: Existing investments in the Master Database that can be price updated from the Internet are "activated" by assigning an Investment Sector and Investment Category. You can click on Command (lower left corner) at the Main Window of the Master Database and select Show Active Only for the investments that are active in the Master Database. Investments that cannot be price updated from the Internet, as stated earlier, may be manually entered in the Window above, Master Database Entry, by filling in the date and at least the Close.

Click on Communications

Verify correct Internet Connection mode for price updates.

Click TEST, add a symbol to check connection.

If the TEST fails, verify that you have selected the correct Connection Type and click on Settings to verify the Connect to URL is http://quote.yahoo.com

Go to Scheduler

Set Scheduler for automatic price update days and time.

Go to Advisor Databases at the Main Menu.

Advisor Databases are model portfolios, are linked to a user selected Allocation Table Matrix and , when created, determine how the Investment Sectors selected in the linked Allocation Table Matrix will be populated with weighted investments.

Select and double-click on Mutual Funds.

The selected Advisor Database investments appear.

Click on Sector Weightings at the bottom of the Window.

Click on the Sector scroll arrow.

Highlight one; 2.5 Large Cap. Funds for example

You can see how each of the investments in the selected Investment Sector have been weighted.

To modify an Advisor Database, click on Open Stock Selector.

Select an Investment Sector.

2.5 Large Cap. Funds.

Click on List

The investments in the Master Database linked to the selected Investment Sector will appear.

Double-click on the investment(s) you want to add.

Click on the Close Icon.

The added investment(s) will appear at the bottom of the list of the original Advisor Database investments

Click on Sector Weighting.

Select the Sector(s) that you added investments to.

Weight the investment(s) as you like.

Sidebar: If you decide you do not want to use an investment, give it a zero weighting.

Reweight another investment or other investments to bring the Investment Sector to 100%.

The Advisor Database (Model Portfolio) is revised and ready to use when creating investor investment portfolios.

Click on the New Icon to create a new Advisor Database.

In this case, select New Empty Database.

Sidebar: You could copy and existing one, rename it, and modify it.

Title the new Advisor Database.

Link it to an Allocation Table.

Click Next.

Click on the Sector selection Window.

The Investment Sectors used in the selected and linked Allocation Table Matrix will appear.

Select an Investment Sector and click on List.

You can also search by Category and by Symbol; but, by Sector is the best way.

The investments in the Master Database that have been added/activated with the selected Investment Sector will appear.

Highlight and double-click on the investments you want to use.

Repeat the process for all Investment Sectors.

If you forget a Sector, you will be prompted.

Click on Next.

The selected investments appear. Click on Next.

Go to each Investment Sector and weight the investments to total 100%.

Decide not to use an investment, don't weight it.

Click Next.

The new Advisor Database (Model Portfolio) is ready to be used to create investment portfolios.

Sidebar: When you decide you want to modify individual, selected, or global investment portfolios that are linked to this Advisor Database and linked Allocation Table Matrix because market conditions have changed, you can go back and change the selections, combinations, and weightings of both the Investment Sectors @ the Allocation Table Matrix and the investments @ the Advisor Database, and, as to be covered later, Reallocate Portfolio to create new, updated investment portfolios.

Go to Investor Portfolios.

Sidebar: You can recover from any portfolio modification errors as all portfolio modifications result in new iterations of prior portfolios being created.

Make a mistake?

Delete the new, modified portfolio and start over.

Click on the New Icon.

Select Add 1.

Import individual portfolios from a Custodian/BD is an option.

Import Portfolios at the Main Menu is used to import multiple/all portfolios from a Custodian/BD.

Type in the name.

Add the account number and other information; minimum is the account name and number, which you can do for now.

Click on Portfolios.

Click on the Plus (+) Icon.

Select and double-click on the Advisor Database you want to use; Master Database in this case.

Title the account.

Click on Holdings.

Highlight an investment.

Click on Adjust Position and you will see an individual investment at the latest update price without a quantity.

A Portfolio Allocation Window Shortcut will appear.

Select the Investment Strategy, the investor investment profile, by clicking on Select which is to the right of step 2; Investment Strategy.

The weighted Investment Sectors for the profile as defined by the linked Allocation Table Matrix will appear in the Sector Allocations To Be Used Window.

Last minute reweighting of the Investment Sector may be done by highlighting an Investment Sector(s) in the Sector Allocations To Be Used Window.

Add cash and reserve, if any.

Click Apply.

The new, allocated portfolio that fits the investor's investment profile is created in an instant.

Sidebar: Very Important. When you create a portfolio, if the portfolio is not allocated as you anticipated, be sure that the investment sectors in the matrix intercept selected add up to 100%, that the underlying investment sector investments in the linked Advisor Database used to create the portfolio add up to a weighting of 100% and be sure, the most common error, that all investments used have a price.

By default, Investor's WorkStation prompts you if the Investment Sector's or the investments used do not add up to 100% when creating an Allocation Table Matrix and linked Advisor Database respectively.

However, there is no alert should an investment not have a price.

You would know that there is a problem if there was more capital in cash reserve than selected.

Clearly, without 100% and without an investment price, Investor's WorkStation will not "know" how to allocate capital.

Go to Holdings and Select Adjust Position.

The position now has a quantity and a cost based on the latest price update.

Actual costs, as determined by executed trades, may be manually entered here or updated manually or by import from a Custodian/BD at Export Trades.

Visit other tabs at Investor Entry.

Go back the investor.

Sidebar: All portfolio modifications, after the first iteration of a portfolio, generate a new portfolio with a code in front of the modified portfolio, for example BT01 as the first Block Trade done in the portfolio or RB02, the second Rebalance.

If you make a mistake, simply delete the modified portfolio and start over.

Click on the Reports Icon.

Select Buy/Sell Analysis.

The concept of Buy/Sell is to select the portfolio you are coming from (No Initial Portfolio in this case) and the Portfolio you are going to; the new portfolio you just created.

Select to Print @ Std. Output or select Trade Export to create a modifiable (delete trades or set dollar and share minimums) trade export to be sent to a Custodian/BD. Trade Export prints the Buy/Sell also.

Print only in this case.

If you have not installed the .pdf reader, the PDF and E-mail entry will not show.

Individual investment portfolios may be added one at a time here, manually or by Import.

Multiple portfolio imports are done @ the Main Menu/Import Portfolios.

Select New Empty Portfolio.

Title the account; Test.

Add an account number.

Add or import investments.

If you add an investment that is not already in the Master Database you will first be prompted for a possible symbol entry error and then, if none, to add the new investment detail within the pop-up Window.

Click on Save.

The new portfolio with the existing investments will be added.

Highlight and view each position, if you like, by selecting Adjust Position.

Blend Portfolios - Visit: Blend a Portfolio (Investor's Existing Investments with a Selected Advisor Database).swf

There are many applications for Blend Portfolios.

The most common occurs when a new client has existing investments and you want to blend the investor's existing investments with a model portfolio; when and as desired .

Go to Blend Portfolios.

For practice, go to Portfolios and highlight the Test portfolio you just created.

Click on the - icon to the left of Opened to delete the portfolio.

This time, use the Mutual Fund Advisor Database.

Assume the investments in the Mutual Fund Advisor Database are the investor's existing investments in the portfolio a new client has just turned over to you.

For whatever reason, the client and you have decided that a portfolio with individual bonds and equities would be better for the client than the current mutual fund portfolio.

Create a cash portfolio following the same steps that were used to create the prior Test portfolio: Investor, Test, Portfolios, +icon, Mutual Fund Advisor Database, title the portfolio (Test), click on Apply Capital at the bottom of the window, Select the Investment Strategy (3/3, for example), add cash at Additional Cash, enter Leave Cash in Reserve (if any), and click Apply, Apply, and OK and the portfolio is done. Go to the Investor, Test, and Portfolios to see the new, allocated mutual fund Test portfolio, and click on the Print Icon to select a report; the Portfolio Standing Worksheet is the primary report.

Go to Blend Portfolios @ the Main Menu.

Select investor Test.

The existing Advisor Databases and portfolios under Test; in this case only Test will appear.

Sidebar: Portfolios are usually entered at Investor Portfolios by name and a specific account number for each investment portfolio so as not to have too many different types of portfolios under one name.

Sidebar: When we first developed Investor's WorkStation, we added the name of the investor @ Investor Portfolios and then add all of their portfolios under their name.

As we expanded the portfolio modification capabilities of Investor's WorkStation, we suggested that all users add a new investor for each portfolio because different portfolio modifications under one investor became too confusing.

Title the new portfolio that is to be created by the Blend process; Test Blend.

Click Next.

The investor's existing investments and the selected Advisor Database have been initially blended.

Investor's existing investments have quantities and total dollar value; the mutual funds in this case.

Advisor Database investments, individual bonds and equities have 0 (weightings).

Go to each Investment Sector that contains an investor's existing investment(s).

Blend Portfolio Rules are simple:

Keep in mind the basic blend rules for Blend Portfolios.

With regard to investor's existing investments:

• Delete to sell 100% and to have the proceeds used when the portfolio is allocated
• Leave alone to hold 100% of an investor's existing investments.
• Weight to allocate with the selected Advisor Database investments and linked Allocation Table Matrix.

In this case, you have decided to sell all of the investor's existing investment right now; the simplest type of Blend, by highlighting each investor's existing investment (currently 0% weighted) and by selecting Delete Selected at the bottom of the Window.

Now that you have modified the initial Blend Portfolio, the portfolio must be allocated to create a new blended and allocated investment portfolio.

Sidebar: If an investor already has an investment that is already in the selected Advisor Database, the investor's existing investment(s), by default, will replace the Advisor Database investment.

The three basic blend rule apply; yet with a third option clarification.

When the investor's existing investment(s) replaces the Advisor Database investment(s), the Sector Total Weight at the bottom right-had corner of the Window will show a weighting of less than 100%. This is because a weighted Advisor Database Investment(s) was replaced by an investor's existing investment(s) (currently 0, which defines a 100% hold).

If you want to reweight the investment(s) back to the original Advisor Database investment(s) weighting, do so as desired to bring the Sector Total Weight back up to 100%. When allocated, some of the investor's existing investment(s) that was weighted may be sold or bought with the average cost being calculated and added to proceeds available for allocation.

Go to Allocate Portfolios.

Select the Investor.

Select the Portfolio.

The current value of, the proceeds from the investor's existing investments, which you marked for 100% sell by deleting all of them, appear.

Select the Investment Strategy; the investor investment profile.

The Investment Sectors to be included in the allocation as weighted will appear.

Add Cash and set the Cash Reserve, if any.

Sidebar (which may be too much to think about for now): If you had decided that you wanted to hold some of the mutual funds which are not in the Advisor Database Investment Sectors,the mutual fund Investment Sectors would appear in the Sector Allocations To Be Used Window with a zero % weighting.

For this situation only, you have several options:

If you had gone to any of the mutual fund sectors and weighted the mutual funds @ 100% before coming to the Portfolio Allocation Window and then came to the Portfolio Allocation Window, that/those mutual fund Investment Sector(s) would appear as a zero weighting.

If you then weighted the mutual fund Investment Sectors and then changed the weightings of the remaining Investment Sectors in the Sector Allocations To Be Used Window by double-clicking on selected Investment Sectors, for a one time only modification of the allocation, the weighted mutual fund sectors would receive allocated capital resulting in an addition to or subtraction from the current mutual find position(s).

Click Apply.

Click OK.

Click Print.

The Portfolio Allocation Report Wizard appears.

Select/Deselect the basic allocation reports.

Many more are at Advisor Databases and Investor Portfolios.

Go back to the Investor and then Portfolios.

The new Blended and Allocated Portfolio appears.

Sidebar (Nuts & Bolts): Rebalance simply resets weighted investment sectors and underlying weighted investments to their original weightings.

From a software programing standpoint, the program does not go back to the Advisor Database and linked Allocation Table Matrix that was used to create the portfolio to find initial weightings.

They are stored at each portfolio.

For this reason, you could go to an Investment Sector @ an investment portfolio and change the investment weightings that were initially used to change investment Rebalance weightings for an individual portfolio.

Reallocate, on the other hand, goes back to the Advisor Database and linked Allocation Table that was used to create a portfolio(s), looks for user selected changes that were made in the selection and weighting of investment sectors and investments because of changes in current market conditions and/or the market outlook, and then, with one click, modifies existing portfolios by creating an updated iteration of the modified portfolio(s).

Note: If you have an investment or investments that have done very well, for example, it is logical that you may not want to reset then to their original weightings when rebalancing portfolios; keep at current weighting, increase, or lower; somewhere in between initial and current.

In this case, go to Reallocate Portfolios as explained later.

Set those investments in the linked Advisor Database to their new weightings and then Reallocate; kind of like a modified Rebalance.

For illustration purposes, we will create a Rebalance Portfolio situation to reset Investment Sector Weightings and underlying investment weightings to original weightings.

Delete the Test Portfolio you just created; not the Test investor.

Create a cash portfolio using the Mutual Funds Advisor Database.

Check include this account in auto rebalance/reallocate.

• As there are future modifications to the same portfolio, the latest iteration will be automatically checked for rebalance/reallocate and the prior will be automatically unchecked.

Go to the Master Database.

Click on the Find Symbol Icon; the flashlight.

Enter the symbol of an investment in the new Blended and Allocated Portfolios; in this case PRGFX.

Double-click on the entry.

The investment appears.

Manually adjust the price per share to $2,7001.50 in Close to create a Rebalance Portfolio situation.

Change the date @ Last Update above Close; to a date other than a weekend date or holiday when the markets are closed.

Go back to Investor Portfolios, the Investor (Test) Portfolios (Test), and click on the Reports Icon.

Select the Portfolio Standing Worksheet.

Print Preview or Print the report and you will see the changes in Investment Sector and underlying investment weightings @ the Investment Sector that contains PRGFX and all other Investment Sectors

Go back to Investor Portfolios and the investor.

Select Rebalance.

Sidebar: When you rebalance or reallocate a portfolio or portfolios all positions will be modified regardless of the number of shares and dollars.

Whether you use the export/import trades through a Custodian/BD or whether you manaully enter actual price executions @ Export Trades and then update portfolio, you have the option to set default share and dollar minimums and only trades that exceed those minimums will be executed.

If you use just the Buy/Sell/Hold report and call in or manually enter trades, you can choose the trades you want.

When you import the updated Custodian/BD files, the correct trade positions will appear.

The new Rebalanced Portfolio is created by resetting all Investment Sectors and investments to their original weightings.

Go back to Investor Portfolios, the Investor (Test) Portfolios (RB01:Test), and click on the Reports Icon.

Select the Portfolio Standing Worksheet.

Print Preview or Print the report and you will see the changes in Investment Sector and underlying investment weightings @ the Investment Sector that contains PRGFX and all other Investment Sectors are back to their original weightings.

Costs, average costs, new costs are calculated.

Sidebar: All portfolios, marked for rebalance/reallocate, may be modified all at once at the main menu.

A combined Buy/Sell Worksheet is automatically created.

New Portfolios are updated and created.

Individual Buy/Sell Worksheets may be generated at each investor as illustrated earlier.

Individual, selected, or global investment portfolios may be reallocated; set existing portfolios to new selections, combinations, and weightings of Investment Sectors and investments.

Go to Allocation Tables, Mutual Funds at System Setup.

Select each matrix intercept as desired and make Investment Sector selections and weightings additions or changes; arbitrarily, in this case, select and weight 1.4 Large Cap. Equities.

Zero weight 2.1 Bond Funds.

Change as many Investment Sectors as you like at each matrix intercept to better match investor investment profiles with investments and current market conditions.

You have added an Investment Sector; 1.4 Large Cap. Equities.

You need to add underlying investments to that Investment Sector.

Go to the Mutual Fund Advisor Database. Click on Open Stock Selector.

Click on 1.4 Large Cap. Equities because you have just added it to the linked and updated Allocation Table Matrix.

The added Investment Sector will appear @ Sector; a deleted on though preserved will not appear and will not be used.

Add investments.

Go to Sector Weightings.

Weight the investments.

You are ready to create new Reallocated Portfolios at either an individual portfolio or at the Main Menu Window @ Rebalance Portfolios.

Large Cap. Equities will be added and Bond Funds will be deleted/sold.

Costs, new average costs, and new costs are kept.

After you Reallocate Portfolios individual or combined reports may be printed.

Go to Investor Portfolios to see the new Reallocated Portfolio; RX01: Test.

Select the Portfolio Standing Worksheet to view the changes.

Sidebar: Global Rebalance and Reallocate may be initiated @ the Main Menu.

You have three options:

• All portfolios in all Allocation Table Matrixes.
• All portfolios in a selected Allocation Table Matrix.
• A specific matrix intercept in all Allocation Table Matrixes or in one Allocation Table Matrix.

For any one of many possible reasons you have decided that you want to replace one investment with another in a few or all investment portfolios; 100% of the position(s) in each portfolio or a lower percentage.

Go to Block Trade.

Enter The symbols of the trade; sell IBM, buy MSFT.

Click at Sell entry and enter IBM (loser case is fine) and then click on the Tab Key twice to take you to to the Buy and enter MSFT.

After typing in the symbols, click on Sell and Buy to bring in Price, Description, and Sector information.

Click on the Plus Icon to add the trade.

You may add other trades and then go into each Trade Window to decide what you want to do.

Highlight and double-click on a trade.

The accounts holding the Sell will be listed.

Deselect portfolios that you do not want to be included in the Block Trade.

Select the percentage to be sold; 100% the default or less than 100%.

Click on the Save/Return Icon at the top right-hand corner of the Window.

Print the Block Trade Worksheet.

Create a Trade Export to export the trades.

Click on Replace Positions in Portfolios to record the trade and to update portfolios.

Executed trades may be entered manually or automatically at Export Trades.

Go back to the Test investor, Portfolios, and you will see the new updated, Block Trade portfolio; BT01.

Sidebar (Nuts & Bolts): When portfolios are created or modified, Investor's WorkStation initially assumes that the Buy and Sell prices are the latest prices in the Master Database.

If you use a BD/Custodian, create a Trade Export, import executed trades, and with a single mouse click, executed prices will replace approximated Master Database prices.

If you do not, you can manually enter executed trades @ Trade Export and update as above.