Q.Can you explain “intra-group transfers” and why the contribution/withdrawal numbers are not the same on all the PortfolioCenter performance reports?

A. In PortfolioCenter, an “intra-group” transfer is money or securities moved between two accounts in the same group.

For PortfolioCenter to recognize the trades as an intra-group transfer, the dollar amount must match exactly and the transactions must have the same trade date.  If one of the transactions is delayed and settles on a different date or if a fee is withheld and the dollar amounts vary by even a penny, PortfolioCenter will NOT understand that the two trades are an intra-group flow.

In the latest version of Presentation Studio, intra-group transfers are omitted by default.

You have the option to omit intra-group transfers on the three main traditional performance reports: Portfolio Performance Summary, Portfolio Performance Review and the Comparative Performance Review.  You must un/check it in the settings for each performance report.  Here’s how it makes a difference:

Suppose Jean Grey and Scott Sommers at Marvelous Financial Planning have a group that includes 5 accounts:

  • Jean & Scott’s joint account
  • Scott’s IRA
  • Jean’s IRA
  • Scott’s Roth
  • Jean’s Roth

As tax-smart clients, both Jean & Scott deposit $10,000 into their IRA rollovers and then each spouse elects to convert $5,000 of IRA money to Roth money.   The capital flows on their group account look like this:


Leaving “Omit intra-group transfers” unchecked in the settings on the Portfolio Performance Review will produce the following results:


Since their 08/31/2010 deposits/withdrawals occur on the same day for the same dollar amount, PortfolioCenter will recognize them as money moved within the group.   Checking “omit intra-group transfers” in the settings on the Portfolio Performance Review changes the report to this:


Whether or not you check “omit intra-group transfers”, your choice will NOT change your performance returns.  The setting only changes the way intra-group flows are presented.