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#773364 - 07/12/07 04:16 PM Definition of a Port
KathleenD Offline
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Joined: Jun 2007
Posts: 14
We are starting a project to clean up duplicate portfolios. Our first task is to establish how to define a port. I would appreciate your input on how other banks define a port. How do you establish a port, by household, tax ID, account titling, etc.? Any information you are willing to share is greatly appreciated.

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General Discussion
#773459 - 07/12/07 05:20 PM Re: Definition of a Port KathleenD
rexinaudit Offline
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rexinaudit
Joined: Dec 2001
Posts: 292
New England
We establish by household primarily.
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#773624 - 07/12/07 07:00 PM Re: Definition of a Port rexinaudit
A_G Offline
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Joined: Jul 2004
Posts: 18,989
In general we are the same as Rex. However, there are some legitimate reasons why you would not want ports combined regarding the same person.

For example, when I moved out of my parents house I got my own port at the Bank. However, I am a deputy on my parent's SDB, so my name still shows up on their port as well. In this case, tt makes sense for me to be on two ports.
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#773652 - 07/12/07 07:18 PM Re: Definition of a Port A_G
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
What an ugly task....I am so glad we went away from householding a couple years ago!
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#773673 - 07/12/07 07:30 PM Re: Definition of a Port #Just Jay
KathleenD Offline
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Joined: Jun 2007
Posts: 14
How are they establish if not by household?

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