Why Use Provider Assignment Overrides?

• Bucket provider-created asset classes and risk categories in a custom way for reporting, performance, and all other areas impacted by a product's classification. 
  
  
• If you utilize multiple automatic product classification (provider-assigned) schemes, you may have asset classes with duplicate names in your database. Eliminate those duplicate asset classes using Provider Assignment Overrides for cleaner allocation tables and graphs. 

 

  

How to Use Provider Assignment Overrides?

Please Note: To utilize the provider assignment overrides tool, the following privilege must be enabled for your role in the Manage Users app  : 

• Asset Class Auto Assignment (Located under the Actions tab > Products section)

For more information on editing privileges, review the Manage Users: Roles and Privileges article.

 

Provider Assignment Overrides Overview Video (6 min.)

Watch this quick tutorial for an overview of the tool and how to use it!
 

  

Special Considerations

• Assignment overrides can only be assigned FROM provider-created classes (like those created by Morningstar) TO manually-created classes.
  
  
• You cannot delete an asset class if it has another class assigned to "bucket" into it.
  
  
• This tool updates the asset classes to the new classes, affecting the underlying weightings of the product. It also updates the product weightings to the new asset class and category UNLESS the asset class or category weightings on a product already match their respective class and category.
  
  
• Mapping changes will automatically take effect the following Sunday along with the rest of the asset class auto-assignment process. You will NOT see the effects immediately after making the mapping changes. If you want to see the changes before Sunday, reach out to the Products and Prices team, and they can manually run the auto-assignment process for you.

   

Add Provider Assignment Overrides

To add Provider Assignment Overrides, start by navigating to the Products and Prices app .

• Asset Class Overrides: First, create the custom asset classes for the overrides. The tool does not allow you to bucket one provider-generated, auto-assigned class into another provider-generated, auto-assigned class. Please refer to the Classification and Assignment section in the Product Classification Basics article to learn how to create a new asset class.
  
  
• Risk Category Overrides: First, create the custom risk categories for the overrides. The tool does not allow you to bucket one provider-generated, auto-assigned risk category into another provider-generated, auto-assigned risk category. Please refer to the Classification and Assignment section in the Product Classification Basics article to learn how to create a new risk category.

 

 

After you create the override asset classes or risk categories, go to the Provider Assignment Overrides tab. The following process is the same for overriding an asset class or risk category:

• Update the Assignment (1) option to "Product Class" (another name for Asset Class) or "Risk Category" depending on the field you're overriding. This setting filters the view to either asset classes or risk categories.  

• The Provider Assignment (2) checkbox controls the list of options in the grid for you to override. When set to TRUE (checked), the displayed list is based on your auto-assignment choices found in the Provider Assignments tab. It is best practice to leave this checked. If you uncheck this, you will see all available overrides, including ones you are not using. 

• The filter row (3) is convenient for sorting and filtering the assignment options you are viewing.

• Under the filter row is the list of the individual auto-assignment asset classes or risk categories. Click on the dropdown menu (4) in the Product Class/Risk Category column to choose a new class/category to override it. Only manually created options are available in the dropdown.

• Click Save (5) after making changes.

Once the asset class auto-assignment process runs on Sunday, your new pathing assignments are applied. If you want them applied sooner, contact the SME Products and Prices team to have them run the assignment process for you.