If you keep cost basis in PortfolioCenter reconciled to your broker, February means income reclassifications. Due to complicated IRS rules and regulations, fund companies may need to adjust dividends already paid when they close their books at the … [Read more...]
Aloca (AA) spinoff Arconic (ARNC)
On November 1, 2016, Alcoa Inc became two companies. The original Arcon shares (AA) became Arconic Inc (ARNC). Then ARNC spun off a new company, Alcoa Corp (AA). Great news for investors, but a headache for PortfolioCenter users. Because the new … [Read more...]
Time Warner Cable merger with Charter Communication Inc
On May 18, 2016, Charter Communications, Inc. (CHTR) merged with Time Warner Cable Inc (TWR). If you have clients that held CHTR prior to the merger you need to handle this stock split a little differently. What happened For each share held of TWC … [Read more...]
How do I find a stock’s date of death value?
When a client passes away, most likely you'll be asked for the valuation of the estate on the date of death. Can you retrieve this information from PortfolioCenter? Yes and no. PortfolioCenter can tell you the number of shares of every position … [Read more...]
Cost basis adjusted, now what?
You receive this message from your broker with a list of accounts, dates and dividends: "Cost Basis Adjusted. No Action Required. The following accounts' cost basis was adjusted due to an action such as return of capital." The notice may say "no … [Read more...]
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