Reconcile

Reconciling is comparing one real account's holdings against a saved target, position by position, to see exactly where reality has drifted from your plan.

Every portfolio drifts. Prices move, you buy something on a Tuesday impulse, a manager you follow rotates out of a name and you don't notice for two months. Drift isn't a failure — it's physics. Not being able to see it is the problem.

What the comparison shows

For each name, reconciling shows what your account holds today, what the target says it should hold, and the difference between the two — in weight and in dollars. Positions the target doesn't include at all show up too, which is often the more useful half.

The comparison runs against one account at a time, deliberately. A target expressed as percentages only means something relative to a specific pot of money; averaging seven accounts together would produce a plan you can't actually execute in any of them.

The trade plan

The output is a trade plan — the buys and sells that would close the gap, ordered by size, with the cash implication stated plainly ("$15k of buys, $15k of sells, $15 net").

It is a proposal, and only a proposal. You can export it to CSV or print it and run the trades yourself at your broker. Nothing in this product places an order because you looked at a trade plan. (The one exception, the automated execution module, is a separate paid feature that starts on a simulated account and needs two deliberate actions from you before it can reach real money.)

Small differences are filtered out by the minimum-trade rule you set in your construction rules, so the plan is a list you'd actually work through — not fifty $4 adjustments.

What else lives on this page

Reconcile is also where you answer the why questions about your real book:

• Conviction custodians — the reason on record for each position you hold, and the list of positions that don't have one yet.
• Copy fidelity — how faithfully you're actually tracking a manager you meant to follow.