Open topic with navigation

Partition Your Account

You can choose to create a new account partition that will be managed by an Advisor or Broker. When you do this, you are essentially creating a parent-child account relationship. Your existing account becomes the "parent partition" and your new Advisor- or Broker-managed partition becomes the "child partition."

In this topic:

• Rules About Partitions
• Partition Your Account

Rules About Partitions

When you choose to create a new account partition that will be managed by an Advisor or Broker, you are essentially creating a parent-child account relationship. Your existing account becomes the "parent partition" and your new Advisor- or Broker-managed partition becomes the "child partition." The following guidelines apply to these partitions:

• The trading permissions for your existing account partition will also apply to the new Advisor- or Broker-managed partition, but any permission to which the Advisor or Broker is not entitled will be removed. Future permissions changes for child partitions should be done individually for each partition.
• Market data subscriptions are charged once for account partitions rather than charged separately for each partition (market data subscriptions are charged per terminal/computer).
• The child partition will be open and ready to be funded by 6:00 PM on the same business day. If you submit your request after 4:00 PM, the child partition will be open and ready to be funded by 6:00 PM on the next business day.
• When you create a new Advisor- or Broker-managed child partition, the Advisor or Broker cannot reject the request.
• You fund the child partition by transferring cash and or positions from the parent partition to the child partition once the child partition is open. Use internal fund transfers or internal position transfers to do this.
• The Advisor or Broker will determine and configure fees for the new child partition just as they would for any of their client accounts.
• Commissions are charged separately for each partition.
• Clients receive read only access to trading applications. The Advisor or Multiple Hedge Fund Investment Manager has the ability to enable client trading.
• The Advisor- or Broker-managed partition can be closed just like any other advisor or broker client account.
• The parent partition (your original existing account) cannot be closed until all child partitions are closed.
• You will be unable to delink the Advisor- or Broker-managed partition. To delink the partition from the Advisor or Broker, you must first transfer all funds and assets to the parent partition (your original account), and then close the Advisor- or Broker-managed partition.
• You can create as many Advisor- or Broker-managed partitions as you want.

Partition Your Account

To partition your account

1. Click Settings > Account Settings.
2. In the Configuration panel, click the Configure (gear) icon for Create, Move, Link or Partition an Account.

   

3. Select the radio button next to Divide My Account into Two Partitions, One of Which Will Be Managed by an Advisor/Broker, and then click CONTINUE.

   

4. Enter the account ID and title of the Advisor or Broker account to which you want to move your account in the fields provided.
5. Click CONTINUE.
6. Type your signature in the field provided in each of the agreements that appear. Click I Agree after signing each agreement.
7. An email will be sent to the Advisor or Broker to inform him or her of your request. The Advisor or Broker must approve your request (in Pending Items) before your new account partition is created.
   Once the Advisor or Broker approves your request, the new partition should be ready to be funded by 6:00 PM on the same business day. If you submitted your request for this new partition after 4:00 PM, the partition will be open and ready to be funded by 6:00 PM on the next business day.