[ #236719] [club_cafe] Heads up - Getting Ready for Upcoming Broker Changes
Dear Peter,

bivio gets stock pricing from a separate pricing data feed. It is the same one that is used by Yahoo Finance.

You probably had a valuation date that was the brokerage statement date because long ago, that was the only date you could easily get stock prices for. That is no longer the case.

bivio provides you with daily valuations.

We'd recommend that you value a partners account for a payout within 2 days of making the payout. That reduces issues that arise if stock prices change a lot between a valuation and payout date.

The club withdrawal valuation date is what determines what a withdrawing member is owed. This is not usually the date of death. If the estate needs that value for some reason, it is easy to generate it in bivio, but that doesn't affect how you pay the withdrawal. You need to follow your club partnership rules to pay it out. The recommended procedure is to treat a death as a request for a withdrawal and then follow the rules you use for paying out any other full withdrawal.

You can see our recommended wording for paying full withdrawals in our sample partnership agreement here:

The decedent will receive a final K-1 form. It will report the income from the start of the year until the date of the full withdrawal transaction.

Hope that helps. Let me know if you have any further questions by replying to this email.

Thank you for using bivio!

Laurie Frederiksen
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Don't forget! You can always find lots of useful information on our help page.