Autopilot cash management simplifies the process of raising or spending cash in client accounts. With daily monitoring, Autopilot is setup to automatically invest cash contributions, and helps you stay on top of recurring distributions.
In This Article
- Scheduling cash distributions
- Daily monitoring for contributions
- Autopilot Trading Engine
Scheduling Cash Distributions
Autopilot allows you to create cash for one time and recurring distributions. To create a cash distribution, follow these steps:
- First, navigate to the cash management tool found within the dropdown menu.
- Click Get Started
- Select One Time or Recurring, then choose the date you’d like for Autopilot to perform the cash rebalance.
- Enter the amount of cash you’d like for Autopilot to create. Note - if the account already has cash in excess of the target cash allocation, Autopilot will only generate enough sells to make up the difference between the current excess cash and the distribution amount.
- Click Generate Trades to confirm your transaction. Look for your scheduled trades in the trading dashboard under the trade reason "Cash Distribution."
- Scheduled distributions can be removed by clicking the X to the left of each transaction. New transactions can be added using the Create Cash button.
**Important - Worried about forgetting to raise cash for a client who needs to take a cash distribution? Autopilot has you covered! Any day clients have scheduled cash distributions, you’ll receive an email notification with a reminder.
Autopilot runs a nightly analysis of all Autopilot enabled accounts for cash contributions. Since every Autopilot account has a cash target specified at the time of activation, when cash in excess of the target appears in an account, Autopilot can automatically queue accounts in your trading dashboard when there are new dollars to put to work.
Cash Management and the Autopilot Trading Engine
When rebalancing for cash management, the Autopilot Trading Engine dynamically disables buys or sells to minimize transaction fees. The Trade Engine uses the following logic:
- When raising cash in an account, Autopilot uses a rebalance type that disables buy orders. This means cash will be raised using a minimal number of trades - saving you and your clients on Custodial ticket charges.
- When putting cash to work in an account, Autopilot uses a rebalance type that disables sell orders. This means clients can make cash contributions often without worrying about unnecessary Custodial ticket charges.
Occasionally Autopilot does not disable buys or sells, and the account will be fully rebalanced while simultaneously raising cash or deploying cash. This happens when the following trade reasons are present on an account at the same time as the cash event.
- Risk Number Drift
- Allocation Drift
- Model Reallocated
- Target Holdings Change
Note: To learn how Trade Minimums impact cash distributions, check out our article on Using Trade Minimums.
Autopilot will send you a reminder email on the day of any scheduled distribution. Be on the lookout for an email like this!