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Asset Location Preference
When setting asset location preferences, Asset Location Preference lets you create labels—for example, Taxable, Tax Exempt, Roth IRA, or any other labels that are meaningful to you—that you'll attach to your accounts. These labels are a way for you to identify the types of accounts and let you decide which accounts will get priority over others in a group. The higher the priority, the fewer recommended trades that particular account will receive.
To create a new label, type the label you want to use and then click Add Label.
Once your labels are created, you can then drag and drop them into your preferred priority order.
Once you create and prioritize your asset location preference labels, you can then assign those labels in the Asset Location Preference setting in individual accounts. As you arrange labels, we suggest the following best practices:
Asset Location Preference is usually given highest priority, followed by Tax Status, and then Account Value.
Give highest priority to accounts you want to trade the least, usually taxable accounts. Accounts with lower priority will have more trading; these are usually tax-exempt accounts.
To prioritize among Asset Location Preference, Tax Status, and Account Value for the accounts within a group, drag each section into your preferred order
Asset Location Preference is also an available column on the Trade Summary page that shows the Asset Location Preference setting you've established in the individual account or group.
For more detailed information on asset location, see Set Account Priorities and Set Model Priorities.