Autopilot’s new directed trades feature allows you to swap out one fund or stock for another in an account or model, giving you granular control when you want to facilitate a surgical swap instead of a full portfolio rebalance. This is perfect for replacing a single position because the directed trade feature focuses the rebalance to only two trades - a buy for the new position, and a sell for the position you eliminated.
Using Directed Trades
To trigger a Directed trade in a model portfolio or an individual account target, follow these steps:
1. First select a model or target to update, in this case, we'll use a model.
2. Next, identify the security you want to exchange for another security.
3. To swap securities, simply delete the security you want to sell, and add the security you want to buy.
In this example, I'm removing SPY from my model at 30% and exchanging it for VOO at 30%
4. Apply these changes to generate trades.
Autopilot will create two trades for each account linked to the model portfolio - one sell and one buy.
Even though other positions in the account may be out of tolerance, the rebalance is isolated to just sell SPY and buy VOO.
Looking to perform a full rebalance? No problem! You can override the directed trade with the REBALANCE NOW option from within an account. Simply navigate to a client's current portfolio, and click the three-dot ACCOUNT ACTIONS menu. You'll see the option to "REBALANCE NOW" from within this menu. (see animation below)