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 âGET â Beginning of Dayâ API. This will enable you to sync your OMS/PMS with DriveWealth.
For an on-demand, real-time view of sub-accounts, use the âGET â Account Summaryâ API.
To place market orders in the master trading account use the âPOST â Create Order API".
You can check the real-time status of an individual market order by using the âGET â Order Statusâ API. You can use the âGET â Advisor Order Summary ]â API for a list of all orders submitted through the master trading account..
Once the order(s) is(are) complete, you can use the âPOST â Create Advisor Allocationâ API to allocate the shares to the sub-accounts.
You can check the status of an allocation list using the âGET â List Advisor's Allocationsâ API or the âGET â Get Advisor's Allocation Details â API.