This webinar covers the asset class bucketing tool, or the provider assignment override tool in the Products and Prices app.

Frequently Asked Questions

Is this being recorded for viewing later?

• All of these webinars are available to view within a business day of when they “air.” They can be viewed again in the future by clicking the link you clicked in your email to watch it in the first place, or by searching for them in the Support app in Orion.

Will reports automatically pull from the custom product classes?

• Yes, because this feature directs autoassignment to asset classes. So, rather than a mask, this feature is actually changing the asset class.

Can this tool also populate custom fields?

• Not at this time, no.

Can I map one Morningstar-created class to another Morningstar-created class? Is this on the roadmap?

• No. All mapping must be from a system-generated class to a custom created class.

If the product is not market true for auto assign does this auto mapping not work?

How does the auto-assignment field impact this tool??

• The auto-assignment tool governs whether a product is affected by auto-assignment rules for its class and risk category. So, if you have unchecked the auto-assignment button on a security, that product will not be auto-assigned, or follow the mapping guidelines set out in this webinar.

Only somewhat related, but can the auto assignments be made to product weightings?

• We do have some auto-assistance available for product weightings. It works for a limited set of products and follows Morningstar’s product categories for mutual funds. To see what products and would be affected and how, you can run the data query in the Query app: #10485. These weightings are not impacted by the mapping tool.

As an example. I have one ABC Money Market Fund with $200. the client has $100 considered as unsupervised and $100 as supervised. Does changing the asset class provide a solution where the same asset can be categorized as both supervised and unsupervised on a portfolio appraisal? I am not concerned about management fee billing.

• This tool is not the best way to call out supervised and unsupervised assets, as the asset class is set at the security level and impacts all assets using that security the same. You goal may be better achieved using the “Managed” checkbox at the asset level, and then setting unmanaged asset rules at either the asset level or product level.

Does Orion plan to add the ability to map custom items to a bucket?

• Not at this time. At this time, it is designed to allow mapping from system created classes to custom classes.

How can I see if my Auto-assignments are running every Sunday. I did exactly what was done in this demo two weeks ago and my reports are still showing old asset classes.

• To see if auto-assignments are active for your database, you can navigate to the Firm Profile app, click Option information, then Pricing. If the “Auto Asset Classification” checkbox is checked, then this feature is on for your database. If the box is checked, but assignments are not showing the way you expect, you may want to contact the Products and Prices team to troubleshoot.

What is the difference between Product Class and asset class?

• Not much. The terms are used interchangeably in some paces in Orion. “Product Class” is probably the most accurate term, but they both get used and are usually referring to the class set at the security level which defines, most often, market capitalization and risk.

What is your recommendation for auto classifying assets that do not hit a Morningstar category? For example just read as “security”.

• We cannot make recommendations as to which classes or classification method should be used. You can use the Product Description Comparison view in Products and Prices to view how different methodologies will classify your products. Also, you can create custom classes for products which are not classified automatically by any of our methods.

Can you use the bucketing tool with risk category?

• Yes! Though it is not shown in the video, the “Risk Category” radial button at the top of the Provider Assignment Overrides tool switches the view over to the Risk Category side of things.

What flows through to eclipse? 

• This tool changes the asset classes on your products so, if you are using the asset classes selected in the Products and Prices app in Eclipse, then this tool will affect that.

How do we do this for securities that aren’t set  to “true” for auto-assign?

• This tool will not affect products which have auto-assign set to “false.” So, you would need to set the auto-assign setting to “true” for any products to which you wish to apply this tool.

How do we clean up the asset classes/categories after we’ve made all the overrides? I’m left with 500-600 categories that I’m no longer using, and that has implications in Eclipse and other things… How can I fix this without deleting each one individually?

• There are two things to consider here: 1) our system will re-create any deleted asset classes that are part of an auto-assign methodology on Sundays when it runs. So, if you plan to keep auto-assignment active in your database, there is no point in deleting the auto-assignment-created classes. 2) If you are going to delete a large number of classes all at once, I would recommend sending the list as a spreadsheet to the Products and Prices team and we can have them deleted en mass.

Any recommendations for new options?  The system defaults to Municipals. So we have to manually update almost daily.

• While I cannot make recommendations, a lot of Orion users make use of the Orion SubType method to classify options. It classifies options as either “Call” or “Put”. If your options are being automatically classified as “Municipals”, that class may be set up as a default in your database, which would typically not be the best situation. The Products and Prices team would be happy to troubleshoot this issue with you.

Does it translate to client portal?

• Yes!

If we want to retain the MS asset class for client reporting but want to use our own asset classes for internal purposes, would it be best practice to have our custom asset classes auto-assigned to Risk Category instead of Product Class?

• That would be an excellent way to achieve your goal.

Where do I find the auto assign choice?

• You can view the auto-assign checkbox on the local product edit screen by editing a product. This can be done in the Products and Prices app by double clicking a product or right-clicking a product and choosing “Edit Product(s)”.

We just send an email to Products and Prices to get the addendum?

• If you do not currently take advantage of Morningstar autoassignment options and would like to, there is a free addendum required to turn those on. There also can be some tough decisions around setting these up, so, if you would like to contact the Products and Prices team for this, we are happy to have a conversation about it with you. However, if you already use the Morningstar autoassignments, there is no other setup: the bucketing tool is already ready for your use!

We answer all of the best questions about bonds in Orion:

• Which aspects can be edited at the Advisor level and which need to be updated by Orion?
• How to know if your bonds are ready for Quarter End what to do if they are not?
• Which aspects can be edited at the Advisor level and which need to be updated by Orion?
• How bonds get their info in Orion in the first place?