The type of order:

Market (Default)
A market order executes at the best price in the current market at the time of your order. If you choose to generate fractional shares orders, if entitled, the order type defaults to Market, and Limit is not available.

Limit (If entitled)
A buy limit order only executes at the limit price or lower; a sell limit order only executes at the limit price or higher. When you choose Limit, after the proposed order is sent to the Orders Unsent window, you can edit the order to specify the limit price.

Indicate whether to display the zero (0) quantity orders generated as a result of the rebalance. Zero quantity orders occur for different reasons. For example, if a Do Not Trade restriction is triggered, the proposed order for the restricted security results in a zero quantity order. Another example is if you set a Minimum Trade preference, any proposed orders below that minimum are zero quantity orders.

Yes (Default)
Display zero quantity orders.
No
Do not display zero quantity orders.

Indicate whether established trade-related rules and restrictions influence the rebalance.

Restrictions
Apply trade-related restrictions created in Wealthscape (outside of PM&R) to prevent orders in a particular account, security, or security type from being generated. (View Trade Restrictions)

Equivalences
Apply equivalences created in PM&R to prevent selling one security just to buy a same or similar security. (View Equivalences)

Asset Location (Household rebalance only)
Apply a trade-related rule created in PM&R to prevent orders for a security (Don't Buy, Don't Sell, or Buy Only) in a specific account. These rules apply only to Household rebalances; these rules do not apply if you choose a different model than the one already assigned to the household. (Create an Asset Location Rule)

Note
On the Preferences tab, where entitled, links enable you to view the assigned equivalences or asset location rules (households only) that will impact the rebalance.

Include or exclude the market value of some account types from the rebalance. This feature allows the rebalance to include a more complete picture of an account's holdings as a percentage of the account's market value. For example, if an account holds a large amount of restricted stock in one company, including this account type significantly impacts the account value and the percentage necessary to rebalance. Orders, however, are never generated for holdings in these account types.

Legal (Type 4)
Dividend (Type 9)
When Issued (Type 8)
Restricted Stock/Legal Transfer (Type 5)

Designate the sale of mutual fund holdings as full liquidation, which sells the position, if the fund is eligible, across cash and margin account types and includes the trailing dividends:

Send Full Liquidation Trade Type

The price to use in the rebalance:

Real Time (If entitled)
Delayed Price
Previous Day Closing (Default)

Indicate whether to include current day (intraday) account activity in the determination of proposed orders, otherwise only account activity as of the previous close are included.

Previous Day Closing (Default)
Intraday (If entitled)

If you select Intraday, a message informs you during the rebalance that the process is being temporarily suspended while intraday activity is captured. Select OK to continue. On the Saved Rebalances window, the status changes from "In Progress" to "Complete" once the intraday activity is captured. (Filter the List of Rebalances)

Enter the minimum trade value for a proposed order and then indicate the quantity type it's based on. An order that falls below this minimum is excluded from the list of proposed orders.

Shares (Not applicable to mutual funds.)
Dollars
Percent

• If you choose Percent as the quantity type, the minimum trade value represents what percent of the account's value to not go below. This prevents orders from being generated for less than this established percent. Orders below the minimum trade value display with the zero (0) quantity orders.

• If you choose to propose fractional shares orders (by selecting Yes for Send Fractional Equity Shares), since the minimum value of a fractional shares order is $1.00, enter at least 1 in the Minimum Trade field.

If entitled, indicate whether the rebalance should generate fractional shares orders for eligible equity and ETF securities:

Yes
No (Default)

When you select Yes:

- Order rounding does not apply.
- Order Type defaults to Market.
- Minimum dollar-based order value is $1.00.

Ineligible Securities

Generally, all National Market System (NMS) exchange-listed stocks are eligible with the exception at this time of Berkshire Hathaway (BRK-A). However, other equity securities may be ineligible for fractional shares trading. Ineligible equity securities include, but are not limited to, securities with OTC markets as their primary exchange. To run a rebalance that includes securities ineligible for fractional shares trading, at the individual rebalance level, override the Send Fractional Equity Shares preference by selecting No. (Run a Rebalance)

Quantity Types

For most eligible securities, proposed fractional orders are created with a quantity type of dollars. If PM&R estimates that a proposed fractional order will sell 90% or more of an existing position, a shares-based order is generated instead.

Full Liquidation

If entitled to fractional shares trading, the auto-liquidation process is turned off so accounts can hold fractional shares. Yet, when you run a fractional or a nonfractional rebalance that proposes to sell all of a position that holds fractional shares, PM&R sends the full share quantity including any fractional shares to the Orders Unsent window. Note, too, you are prevented from creating block orders with the fully-sold security in this scenario.

Note
For more information, select Fractional Share Trading Agreement on the Rebalancing Preferences window.

Specify rules for rounding buy and sell order quantities. This settings applies only to equities and securities that trade like equities such as common stocks and ETFs.

• From Rounding Orders to Nearest Unit, select a value. Quantity Type defaults to Shares.

• From Round Buys and Round Sells, select Up or Down. For example, round a proposed quantity up or down.

Note
Rounding Rules do not apply when Send Fractional Equity Shares is set to Yes.