Multiple Account Tracking

It is becoming very common recently for investors to have more than one Lending Club account, for a variety of reasons. The most popular reasons are opening an IRA account alongside a regular account, or having one account for each in the family that are funded (and “owned”) separately, but that the management is done by one person in the family.

Interest Radar now offers a simple way of managing multiple accounts, as long as you want the invested loans to be diversified among the accounts, i.e., you don’t want to invest in the same loan in different accounts. This new tool will help you keep diversified even if you invest in different days for each account.

(If you manage more than one account, but there is no need to keep the investments diversified across accounts, you can simply have more than one Interest Radar login, one for each account. Keep reading to decide which scenario works best for you.)

The first step is setting up the other account. Log in to Interest Radar and go to My Portfolio. In the top you will see a box with a link to the Multiple Account Tracking setup page. In that page you will be able to enter an alias for the account and create it. You can also rename your primary account from Main Account (the default) to any other description you prefer.

You’re ready to track your performance individually. When uploading your notes.csv file the next time, you’ll have the option to tell the site for which account that file is to be uploaded. Make sure you upload the right file to the right account. If you make a mistake, just upload the correct file again and the wrong file will be overwritten. Just make sure you do that right away, because if you wait for the next day, the file is not overwritten. (Interest Radar is in the Eastern Standard Time timezone, so your deadline to correct the mistake is midnight EST time).

What changes when investing?

Nothing really changes. When you invest, whatever account is logged in in Lending Club will get the order. Just switch the account in Lending Club when you’re done with your order, and keep investing. Interest Radar doesn’t need to know which account received which loan. It will know when you upload your notes.csv files. The only big difference is when uploading those files. Before investing the next time, make sure you upload the files for all the accounts you have, so that the site will know which loans were invested for all your accounts.

When investing in the Analysis page, you’ll then see the “Invested $amount” tag for loans you own in any account. What this means is that if you pick loan 1234 in account A (either in the same day or a long time before), when you do your investment session for account B, loan 1234 will show as already invested. That’s also important for Secondary Market shopping: if any account you have owns a note for a loan, you’ll see the “(dup loan)” tag under the price of the note in the results.

In the My Portfolio page and in My Notes page, you’ll have the option to view each account individually or all your accounts consolidated.

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3 thoughts on “Multiple Account Tracking

  1. Great!!
    Thus, it is important to keep a copy of the notes.csv for each account available in the event that the wrong csv file is uploaded.

    Any special considerations when combining 2 IR accounts? Maybe just upload the latest notes.csv from LC/IR acct1 to acct2?

    • In case you upload the wrong notes.csv, you can always download it from LC again, just make sure to log in to the right account.

      I’d suggest you keep the login that you have secondary market sales recorded in IR, if any, because that can’t be transferred. Then just upload the most recent notes.csv from the other LC account. If you have sales in both accounts, send me an e-mail and I’ll see if I can merge them in the back end.

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