When you link an account in WealthTrace using Yodlee or Plaid, you are giving WealthTrace a secure, read-only connection to your financial institution, like your bank, brokerage, or retirement account.Here’s how it works:Link your account – On the WealthTrace dashboard, click the plus sign next to Investment Accounts and select the option to link an account.Select a connection provider – You will [...]
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126 ArticlesHow does security work in WealthTrace? How are usernames and passwords stored?
Important points about security, usernames, and passwords in WealthTrace:1) WealthTrace does not store any credit card information. 2) Your WealthTrace password is encrypted in our database so nobody can ever access it. 3) If you link your accounts, WealthTrace does not store your account numbers, usernames, or account passwords. 4) We use a third party () for linking account information. Yodlee [...]
Can I force an update of my linked accounts during the day?
Linked accounts update automatically every night. However, if you want to refresh the balances and holdings during the day you can do this by re-entering your credentials for the bank or broker. Basically you link the account as if you were linking from scratch. But because the account is already linked, we simply update the balance and holdings at that [...]
If an investment account contains both equities and municipal bonds, should the entire account be set to Tax-Free Interest?
No. If the entire account is set to Tax-Free Interest, WealthTrace will not currently treat capital gains and dividends from the taxable investments in that account as taxable.How you should enter the account depends on whether it is linked or manually added.Linked AccountsIf the account is linked, set the Account Type to Taxable rather than Tax-Free Interest.Then use the setting:Is a portion of [...]
I want to see the history of my investment balances over time. How do I view this?
If your accounts are linked, we begin tracking historical data (such as balances, transactions, and account performance) from the day they are linked. You can view historical balances for any linked account as seen [...]
I want to view historical transactions such as deposits, withdrawals, interest, and dividend payments. Where I can see this?
If your accounts are linked, we begin tracking historical data (such as balances, transactions, and account performance) from the day they are linked. You can view transactions for any linked account as seen [...]
How are Monte Carlo simulations run and where do the assumptions come from?
How Monte Carlo Works in WealthTraceMonte Carlo analysis estimates how often a retirement plan “works” by running many possible market paths and checking whether the plan runs out of money in any of them.What WealthTrace simulatesFor each simulation, WealthTrace generates a year-by-year set of total returns for every investment in the plan. Returns vary from year to year based on: the investment’s [...]
I want to link my accounts and pull in all of the balances and holdings. But for security reasons, I then want to have the auto-update turned off. How do I do this?
You can link accounts and then turn off the updating. Once this is done for an account, the login credentials are deleted from our linking partner, [...]
Is cost basis used and can I enter the cost basis for investments?
Yes, the cost basis is used for tax calculations if you are projected to spend down principal for taxable accounts. If the account is linked, the cost basis updates every day automatically. If you manually enter an account, you can enter the cost basis as you see in the screenshot [...]
My asset allocation shows a large amount of cash. This is not accurate. How can I fix it?
With linked accounts, financial institutions may not always send us accurate asset class information. In particular, certain assets will sometimes incorrectly be listed as cash. Check your investments as seen in the screenshot below to make sure that the asset allocation looks correct. You can override incorrect allocations by going to 'Account Holdings' for that [...]