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Subject:  Re: from Folio to IBKR Date:  1/21/2021  3:57 PM
Author:  Rayvt Number:  280162 of 281151

I have accounts with multiple brokers...if you are a Folio refugee, suggest you look into M1. For simplicity I think they are very good/possibly the best right now.

One thing I really liked about Folio was the ability to keep different 'folios' of stocks segregated from each other so as to track the performance of distinct strategies.

Does M1 allow for this?

Here is my impression from opening an account at M1 recently. The target customer is someone who types a random sequence of 3 or 4 letters, and wants to know everything about a company that has that symbol. Whereas people like us already know what stocks (symbols) we want and we just want to trade that stock.

The way M1 works may be intuitive to somebody who has experience with Folio or Motif. It was all new to me and confusing to understand.

If you want to strictly segregate your "folios" they suggest that you open a new account for each one. I think that's the only way to have a solid wall between them. FWIW, I have 2 portfolio, named unimaginatively "top-level joint" and "my IRA".

Other than that, do this: Create a custom "slice" (or is it "pie"? I find their terminology confusing.) that has your symbols. Tricky to do, it's under research/my-pies. (Ah, so it's "pie".) Then you "edit" this and set your desired weights. In my case, I did "select all" and "Equalize" for equal weight. Now this is a free-floating "un-used" pie; really a definition.
Repeat this for any other screens/portfolios you want.

AFAICT, whether something is called a pie or a slice depends on how you are viewing it. They are really the same thing. In fact, a pie and a slice and a stock/ETF are all the same thing, it's just called different depending on how you look at it.

Hmmm, I just noticed something. When I go down from the top-level portfolio, every component all the way down is called a slice. 1st slice is the screen itself, which has several slices that are the stocks I named in the pie. So it looks like "pie" is your screen definition and "slice" is the holdings. And it's slices all the way down.

Now you have a number of portfolio definitions, but have not invested in any of them.

Now go to your top-level portfolio. They "helpfully" helped you create this when you opened your account, but you don't want anything that got added then, so delete all the slices/pies in it.


Now create your investable portfolios/screens by adding your "pies" as "slices" to this top-level portfolio. You will have to assign a desired weight to each of them, from 1% to 100%, totally up to 100%. Now here's the tricky part--and I may have this a little bit wrong. They assume that you will want to rebalance this top-level portfolio. Do *NOT* let this happen!!! If you do, it will merrily go down the slice/pie tree and rebalance _everything_ under it.

Okay, now from your top-level portfolio, select the slice (your screen/portfolio/folio/etc.) and click into it. To initiate this portfolio, click Rebalance or Buy/Sell.

Dividends go into cash balance of the top-level portfolio, not the slice/pie/stock which paid out the dividend. If you have auto-invest turned on (the default), they will buy everywhere in your portfolio/slices/pies so as to push the overall portfolio toward your target percentages. We MI folks with multiple screens/portfolios probably don't want it to do that, as that will cause money to bleed between portfolios.

You would want to go into each slice and do a buy in the amount of whatever dividends that came from stocks in that slice. If you want to do DIY DRIP, select the stock slice in the screen slice and click Buy and set the dollar amount to the amount of the dividend. They do not do the DRIP for you; you have to do it yourself.

Or you can go into the slice that is your portfolio/screen/pie and do a Buy. This will invest the cash into the various securities in that slice so as to drive it toward your desired weighting.

Y'know what? This just seems like a total PITA. The only thing it really has going for it is the one-click rebalancing and fractional shares. I'll try it for a year and then see if IB has made theirs easier.

My first re-evaluate/rebalance comes up next week, with one of Jim's monthly screens. In an IRA, because I don't want to have 12 * 25/2 Schedule D entries.
It is not clear to me what to do. Do I change the symbols in the pie, and that gets carried over to the slice that the pie created? Or was the pie a one-time thing and I have to change the symbols in the slice?
I'm looking forward to seeing how it goes.
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