Alder Family Tax-Managed Equity SMA

SMA-2048 · Private Client Portfolio Operations (synthetic)

Blocked

3
Blocking: 2
Awaiting authorization: 0
Warnings carried

Strategy: US Large-Cap Direct Index, tax-managed
Mandate: v3.0
Model: 2026.03.2
Rebalance window: Mar 18, 2026 – Mar 20, 2026
Market value: $4,800,018
Projection: pv-ec56e5fef533

Synthetic scenarioStep 1 of 5Ingest and evaluate

Source snapshots arrive and the case opens. Every control evaluates against recorded facts. Material blockers appear, a wash-sale match is routed to a named reviewer, and the controls that could not evaluate each name the dependency they are waiting on.

The stale custodian file is what most other controls are waiting on.

Blocking

3 controls block this rebalance

A hard stop or rebalance blocker that has not passed. Everything else can proceed in parallel.

DATA-FRESH-001FailRebalance blocker
Material source freshness
Due Mar 16, 2026, 18:00 UTC
Custodian position file (synthetic) is 2.7 d old against an illustrative 18-hour window, as of Mar 13, 2026, 21:00 UTC.
Owner
Data Steward
Client impact
No client impact yet. If the source is not refreshed before the window, the account misses this rebalance cycle.
Permitted resolution paths
- Request a fresh source snapshot
  Ask the source owner for a new file, ingest it, compare checksums, and re-run every control that reads the source.
Clearing this unblocks 4 controls: CASH-006, CONCENTRATION-007, MODEL-DEV-008, RECON-HOLD-002
MANDATE-RESTRICT-004FailHard stop
Client restriction compliance
Due by Mar 16, 2026, 14:00 UTC
Proposed buy of CDRP (Cedar Point Energy Corp), 3,464 shares / $220,830, conflicts with RSTR-001: "Exclude Cedar Point Energy Corp from all sleeves of this account." (effective 2025-11-01, source Client IPS v4 (synthetic), section 6.2, exclusion schedule).
Owner
Compliance Officer
Client impact
Executing this proposal would buy a security the client has instructed the account to exclude.
Permitted resolution paths
- Propose a substitute from the same model groupPortfolio Manager approval
  Compare model deviation, cash, concentration, and projected tax impact before and after, then obtain a portfolio-manager approval with a recorded reason.
- Raise a client mandate change requestClient Partner approval
  Route the restriction to the client partner with the exact instruction, source, and effective date. The rebalance stays blocked until the change is approved.
Clearing this unblocks 3 controls: GAIN-BUDGET-009, TAX-BASIS-003, WASH-SALE-005
TAX-BASIS-003UnknownRebalance blocker
Cost basis usability on selected sell lots
Due Mar 16, 2026, 18:00 UTC
1 selected lot has no usable unit cost: PLMS LOT-PLMS-3.
Owner
Operations Analyst
Client impact
The realized gain or loss reported to the client would be incomplete.
Permitted resolution paths
- Request the missing tax-lot data
  Ask the tax-lot ledger owner for a snapshot containing the missing basis, ingest it, then re-select lots and recompute the projected tax impact.
- Select eligible lots with confirmed basis
  Choose replacement lots that carry confirmed basis and recompute the projected realized result.
Clearing this unblocks 1 control: GAIN-BUDGET-009

Awaiting a named human

2 decisions require authorization

These do not block the work, but the rebalance cannot be released until an eligible role records a reasoned decision.

WASH-SALE-005Manual reviewManual review required
Wash-sale exposure on proposed loss realization
Due Mar 17, 2026, 06:00 UTC
MRDN: a recorded purchase (TXN-101) is 21 days from the proposed trade date against a -$2,793 realized loss.
Owner
Operations Analyst
Client impact
A loss the client expects to harvest may be disallowed for tax purposes.
Permitted resolution paths
- Review the matching purchase and document the treatmentOperations Analyst approval
  Inspect the matching synthetic transaction, the source coverage boundary, and the timing, then record a reasoned review decision.
APPROVAL-010FailManual review required
Required human authorization
Due Mar 17, 2026, 06:00 UTC
Outstanding: Authorized release of the handoff package.
Owner
Compliance Officer
Client impact
No client impact. An internal authorization is outstanding.
Permitted resolution paths
- Record the outstanding authorizationPortfolio Manager approval
  Review the release package and record the approval with a reason. The approval binds to this exact projection.

Not evaluated

5 controls could not run

These controls are withheld rather than passed. Each names the dependency it is waiting on.

CASH-006Minimum cash and residual cash sufficiencyNot evaluated: The custodian position snapshot is beyond its illustrative freshness window, so position-dependent calculations are not trusted.
CONCENTRATION-007Post-trade single-name and sector concentrationNot evaluated: The custodian position snapshot is beyond its illustrative freshness window, so position-dependent calculations are not trusted.
GAIN-BUDGET-009Realized gain budgetNot evaluated: projected realized gain or loss is incomplete while selected lots have no usable cost basis.
MODEL-DEV-008Post-trade model deviationNot evaluated: The custodian position snapshot is beyond its illustrative freshness window, so position-dependent calculations are not trusted.
RECON-HOLD-002Holdings reconciliationNot evaluated: reconciliation requires both the custodian and internal accounting position snapshots to be inside their freshness windows.

Next actions

01Do Now
Request and ingest a fresh snapshot for every stale or missing material source.
Data Steward · unblocks 4
02Do Now
Remove the restricted exposure from the proposal through an approved, documented path.
Portfolio Manager · unblocks 3
03Waiting
Resolve the open holdings difference by naming the authoritative record with a reason.
Data Steward · unblocks 3 · waiting on ACT-DATA-FRESH-001
04Waiting
Obtain usable cost basis for every selected sell lot, then confirm the lot selection.
Operations Analyst · unblocks 1 · waiting on ACT-MANDATE-RESTRICT-004
05Waiting
Document a reasoned review of the potential wash-sale match.
Operations Analyst · waiting on ACT-MANDATE-RESTRICT-004
06Waiting
Adjust the trade set so residual cash meets the mandate minimum.
Portfolio Manager · waiting on ACT-DATA-FRESH-001

Control summary

Pass: 1
Fail: 3
Unknown: 6
Manual review: 1
Not applicable: 1
Total controls evaluated: 7 of 12

Alder Family Tax-Managed Equity SMA

3 controls block this rebalance

Material source freshness

Client restriction compliance

Cost basis usability on selected sell lots

2 decisions require authorization

Wash-sale exposure on proposed loss realization

Required human authorization

5 controls could not run

Alder Family Tax-Managed Equity SMA

3 controls block this rebalance

Material source freshness

Client restriction compliance

Cost basis usability on selected sell lots

2 decisions require authorization

Wash-sale exposure on proposed loss realization

Required human authorization

5 controls could not run