Allocations

Advisor allocations are used to create, add and remove positions from end-client accounts. Once the RIA has successfully placed an order, they should send an allocation with the sub-account's allocations.

Useful Workflows

All trades are placed via the master trading account. Filled trades are then allocated to client sub-accounts.

Using the master trading accounts userID, request Beginning of Day Cash and Positions in master and sub-accounts using the “GET – Beginning of Day” API. This will enable you to sync your OMS/PMS with DriveWealth.

For an on-demand, real-time view of sub-accounts, use the “GET – Account Summary” API.

To place market orders in the master trading account use the “POST – Create Order API".

You can check the real-time status of an individual market order by using the “GET – Order Status” API. You can use the “GET – Advisor Order Summary ]” API for a list of all orders submitted through the master trading account..

Once the order(s) is(are) complete, you can use the “POST – Create Advisor Allocation” API to allocate the shares to the sub-accounts.

You can check the status of an allocation list using the “GET – List Advisor's Allocations” API or the “GET – Get Advisor's Allocation Details ” API.