Review Detail
(Updated: March 16, 2011)
Overall rating
4.7
Trading Features
5.0
Reporting
5.0
Managing For Tax Efficiency
5.0
Household Rebalancing
5.0
Tax Loss Harvesting
5.0
Trade Order Reconcilliation
5.0
Integrations
2.0
Security
5.0
Training
5.0
Support
5.0
Pricing
5.0
TRX has made me a better advisor-making me more efficient, compliant, and saving in trade errors.
Huge time saver. Makes what was once a tedious process relatively easy, precise, and fast. Excellent and friendly product support.
User Review
The Good
I used to “look” or review client investment policies quarterly and dreaded the rebalance process – knowing it would sometimes take me several hellish days to finish. In the crazily volatile 2008-2009 time period – by the time I finished some client rebalancing, I kinda knew that some accounts were already AGAIN out of balance – but didn’t have the energy to go thru the tedious process again.
This has now all changed with TRX. I “look” weekly because it is so easy to do. What used to take me days takes minutes (or I imagine in a similar 2008-2009 market environment several hours) to complete. I feel that I am now able to give all of my clients a more consistent rebalancing experience, which from a compliance and marketing viewpoint is something I can talk about with regulators and clients as adding increased value and fairness in my portfolio management process.
Because of the rebalancing structure and automation, it has reduced trade data input errors to the point of extinction. When under a lot of time pressure (as in 2008-2009 again), trade errors occasionally crept in (like using the wrong symbol or shares instead of dollars). This issue becomes moot with TRX. Mitigating that risk alone has made TRX worth the investment.
This has now all changed with TRX. I “look” weekly because it is so easy to do. What used to take me days takes minutes (or I imagine in a similar 2008-2009 market environment several hours) to complete. I feel that I am now able to give all of my clients a more consistent rebalancing experience, which from a compliance and marketing viewpoint is something I can talk about with regulators and clients as adding increased value and fairness in my portfolio management process.
Because of the rebalancing structure and automation, it has reduced trade data input errors to the point of extinction. When under a lot of time pressure (as in 2008-2009 again), trade errors occasionally crept in (like using the wrong symbol or shares instead of dollars). This issue becomes moot with TRX. Mitigating that risk alone has made TRX worth the investment.
The Bad
It's not really bad – but you do have to take the time up front to set up your models well – really thinking thru what funds you want to use in them and where – as in which funds really should go into a Roth IRA vs a regular IRA vs a taxable account on a CONSISTENT basis. This process actually had a positive impact for me in that it forced me to simplify my models and fund choices. I truly believe that this simplification process has actually affected client investment experience positively.
The Bottom Line
TRX can save you a ton of time, make you more compliant, and reduce trade errors.
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