The IBKR Advisor Portal provides with an integrated suite of CRM tools. This suite includes functionalities for tracking client goals, creating risk score questionnaires, running account queries, and utilizing the RMD Calculator (IBKR Traders´Academy, s.f.). These tools can be accessed by expanding the Administration & Tools section in the left-side menu.
1. ESG Impact Preferences
The ESG Impact Preferences tool allows advisors to understand clients’ preferences related to socially responsible and impact investing. Advisors can send impact invitations to clients, who can then select their personal investment criteria and business practices they wish to avoid. The tool analyzes how closely the client’s portfolio aligns with these values.
2. Account Queries
Account Queries enable advisors to search for accounts based on criteria such as account type, trading permissions, and IRA contributions. To access and use Account Queries, advisors must have a Two-Factor Authentication device like IB Key. Advisors can save, edit, and delete queries. To create a new query, advisors name the query, select main and additional sections as filters, and run the query to display results, which can be exported to CSV.
3. Goal Tracker
The Goal Tracker is a planning tool that projects the hypothetical performance of a client’s portfolio to monitor their progress towards goals like college savings or retirement. Advisors input parameters such as monthly contribution amounts, target risk, return, and client goals. The tool then provides projections and likelihoods of achieving these goals.
4. RMD Calculator
The Required Minimum Distribution (RMD) Calculator helps advisors calculate the RMD for applicable IRAs. Advisors enter the previous year’s IRA balances, the client’s date of birth, and the beneficiary model. The system then calculates the RMD and provides the due date. However, Interactive Brokers does not offer tax, legal, or investment advice, and the IRA owner is responsible for computing their RMD and any associated penalties.
5. Risk Score Questionnaires
Risk Score Questionnaires help advisors assess client risk tolerances to recommend suitable investments. Advisors enable this feature by creating a questionnaire with a minimum of nine questions, covering Capacity, Need, and Tolerance. Each answer is assigned a default risk score from 1 to 5, which can be modified. Once the questionnaire is built and activated, advisors can invite clients to complete it and re-take it as needed for updated scores.