Review Detail
Overall rating
4.7
Trading Features
4.0
Reporting
4.0
Managing For Tax Efficiency
5.0
Household Rebalancing
5.0
Tax Loss Harvesting
5.0
Trade Order Reconcilliation
5.0
Integrations
4.0
Security
5.0
Training
5.0
Support
5.0
Pricing
5.0
TRX provides a great ROI.
None.
User Review
The Good
Many of our clients have accounts held away (e.g. 401ks & VAs) from our primary custodian, Schwab, and rebalancing would take hours for each client before TRX. Now with TRX, we can rebalance our entire client base, review the proposed trades and place the trades in less than an hour. It has created an automated work flow process that has eliminated trades errors and other manual mistakes. Since the market has rebounded over the last 2 years, tax-efficient management of client portfolios has become a much bigger deal and TRX does a great job in automating this task. Technical support has been very responsive and helpful in correcting any issues.
The Bad
TRX requires you to become disciplined about managing your models. If most of your clients are "one-offs", then TRX may not be the right system for you. We did need to clean up our Portfolio Center database to prepare for TRX, but it was something we needed to do any way and the TRX support folks were very helpful in reviewing our database, recommending changes and training us on setup of TRX tailored to our business.
The Bottom Line
We have been using TRX for a year and it has allowed us to grow by 30% during that time without adding any additional staff. If you are a strategic asset manager who uses fairly static models, then TRX is a great choice.
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