Q. One of my clients is moving cross country and switching to a manager in her new state.  Her new advisor also uses PortfolioCenter.  How can I send him the existing PortfolioCenter data for my client’s accounts without sending him my entire PortfolioCenter database?

A. Transferring accounts to another PortfolioCenter database is complicated, but it can be done.

If the new manager is primarily interested in retaining cost basis, consider sending him a trade lot export or an unrealized gain/loss report in spreadsheet format instead.  Or check with your broker.  Your broker may automatically send cost basis to the new broker which the new manager can retrieve and import into PortfolioCenter.

However, if you’d like to transfer the entire account history, here are the steps.  You will probably want to call the friendly folks at Schwab Performance Technologies and have them talk you through this process.

Note: To help avoid confusion I spell dataBASE and dataSET with caps.  The two are very different creatures in the PortfolioCenter jungle.

For step-by-step instructions, go the Schwab Online Learning and Support, then search for the Document listed on the step.

If you are the sending manager:

If you are the receiving manager:

  • Download, post and reconcile your data.
  • Backup your PortfolioCenter database.
  • Create a new temporary dataBASE. You will use this dataBASE to receive the new data.  Call it NewClient. ( SPT010853 Adding a Database).
  • Restore the backup you received over the dataBASE NewClient.  It is okay that they have different names.
  • Export the NewClient dataSET to your default dataBASE (SPT011383-1 Copying PortfolioCenter Datasets).
  • Open your default PortfolioCenter dataBASE and login in to the NewClient dataSET.
  • Check/update the default settings for the new accounts to make sure they match your defaults.
  • Copy the new client accounts from the NewClient dataSET to your default dataSET.
  • When you have verified the transfers were successful, you can delete the Transfer dataSET from your default dataBASE and delete the NewClient database.  You might also want to reindex, shrink and optimize your default dataBASE.
  • Finally, reset the Performance Inception dates on the new client accounts to begin measuring performance from the start of your management.