Last reviewed: September 2026.
Available on every plan. Guardrails is turned on by default for every firm.
This article explains each part of the Guardrails report, where every number comes from, and why a number can differ from what you expect.
What the Guardrails report is
The Guardrails report compares a household's current withdrawal rate with the withdrawal-rate band your firm sets. The band has three rates: Lower %, Available % and Upper %.
The report has four parts: the header, the "Max Distribution Available" callout, the guardrail bar with its "Current Distribution" marker, and the distribution table. The footer holds your disclaimer and your firm contact details.
To open it, open the household, go to the Value Adds tab and click the Guardrails card. The page has a snapshot dropdown (Live plus saved snapshots) and the buttons Refresh, Save, Print and Download. Refresh recalculates the report from live data. Save stores a snapshot that never changes again.
Header and branding
Logo. Your firm logo prints at the top. Surge flags a missing logo as "Missing Firm Logo".
Title. The "Guardrails Title" setting. New firms start with "Guardrails". If the title is blank, the report prints "Guardrails Strategy".
Brand color. Your firm branding color is used for the "Current Distribution" marker and for the dots in the footer.
Client name line and as-of date. Explained in the next two sections.
As-of date
Under the client name line the report prints "*Reported as of" followed by a date in M/D/YYYY format, for example 9/24/2026. The asterisk on the "Current*" column of the table points to this line.
The date is the most recent As Of Date across every account that belongs to the household. Every account counts here: closed accounts, cash accounts, $0 accounts and accounts you excluded by hand. A checking account synced today can make the report "as of" today.
Where an account's As Of Date comes from:
A Redtail sync writes the balance date from Redtail. If the account has holdings, the latest holding price date is used instead.
An account import sets the date to the time of the import.
An account created by hand gets the date it was created, unless you fill in the As Of Date field.
Changing an account value by hand does not move the date. Change the As Of Date field as well.
If no account has a date, the report prints today's date.
Dates are read in UTC. A date saved late in the evening, US time, can print as the next calendar day.
Client name line
Ages come from each client's date of birth and print as small raised numbers after the first name. A client with no date of birth shows "--".
Clients in the household | What prints |
One client | Smith, John (with the age) |
Two clients with the same last name | Smith, John & Jane (with both ages) |
Two clients with different last names | Smith, John & Doe, Jane (with both ages) |
Three or more clients | Smith, John +2 more |
No clients | --- |
Deceased clients are left off when at least one living client remains. If every client is deceased, all of them print.
Clients print in the order they are stored. The head of household is not moved to the front.
"Max Distribution Available"
Above the bar the report prints your Available rate and the monthly income it allows, in the form "5.4% | $4,410", under the label "Max Distribution Available".
The rate is your Available %, printed with one decimal. A setting of 5.25% prints as "5.3%".
The monthly income is calculated in four steps.
Multiply the included portfolio total (not rounded) by the Available rate.
Round the result down to the nearest $1,000.
Divide by 12.
Round down to the nearest $10.
Example with $987,000 and an Available rate of 5.40%: $987,000 × 0.054 = $53,298. Rounded down to $53,000. Divided by 12 = $4,416.67. Rounded down to $4,410.
The first step uses the unrounded total, not the $1,000-rounded Portfolio Value printed in the table. A hand calculation from the table can differ by a few dollars.
"Current Distribution"
The marker on the bar prints the household's current withdrawal rate and monthly income, for example "3.60% | $3,000", under the label "Current Distribution". The same two figures fill the "Current*" column of the table.
Monthly income
Monthly income is the sum of the systematic withdrawals on every included account, each converted to a monthly amount.
Frequency on the withdrawal | Monthly amount |
Monthly | Amount × 1 |
Quarterly | Amount ÷ 3 |
Semi-annual | Amount ÷ 6 |
Annually | Amount ÷ 12 |
Blank or any other value | $0 |
Tax withholding amounts and scheduled months do not change the figure. Withdrawals on accounts the report leaves out do not count. Read Where Monthly Income Comes From in Guardrails and Buckets for the details.
Current rate
Current rate = monthly income × 12 ÷ the unrounded included portfolio total. It prints with two decimals.
With no withdrawals
If no included account has a systematic withdrawal, the report prints 0.00% and $0. It does not fall back to the Available rate. The marker sits at the far left of the bar. Withdrawals that add up to $0 give the same result.
In that case the Upper Guardrail and Lower Guardrail columns are built from the portfolio value multiplied by the Available rate. See "The anchor income" below.
The guardrail bar
Zones. The whole bar is pale red. Two pale yellow zones cover 15% to 25% and 75% to 85% of the width. A pale green zone covers the center, from 25% to 75%.
Labels. The left edge reads "Too Much Savings" over "Spend More". The right edge reads "Not Enough Savings" over "Spend Less". Both print in capitals.
Rail percentages. The "Lower Guardrail" and "Upper Guardrail" captions at the two ends of the bar are hidden by design. The bar never prints your Lower % or Upper % values.
Marker. A vertical line in your brand color. A box on it shows the current rate and monthly income, with the caption "Current Distribution".
Where the marker sits
Current rate | Marker position |
Equal to Lower % | 14.4% from the left edge |
Equal to Available % | The center of the bar |
Equal to Upper % | 85.6% from the left edge |
Below Lower % or above Upper % | It moves more slowly and stops near the edge, at about 0.2% or 99.8% |
0.00% (no withdrawals) | At the far left |
Distribution table
Columns: "Current*", "Available", "Upper Guardrail", "Lower Guardrail". Rows, in this order: "Portfolio Value", "Monthly Income", "Distribution Rate".
The anchor income
Every guardrail figure starts from one number, the anchor annual income.
When monthly income is above $0: anchor = monthly income × 12.
When there are no withdrawals: anchor = unrounded portfolio total × Available %.
Which rate builds which column
A guardrail is a portfolio value, not a rate. The column names can look reversed, so here is the rule.
Upper Guardrail = anchor ÷ Lower %. It is the portfolio value at which the anchor income equals the Lower % of the portfolio. The portfolio has grown, and the client can take a raise.
Lower Guardrail = anchor ÷ Upper %. It is the portfolio value at which the anchor income equals the Upper % of the portfolio. The portfolio has shrunk, and the client must take a cut.
How each cell is calculated
Row | Current* | Available | Upper Guardrail | Lower Guardrail |
Portfolio Value | The included total, rounded down to the nearest $1,000 | Same as Current | Anchor ÷ Lower %, rounded up to the next $10,000 | Anchor ÷ Upper %, rounded up to the next $10,000 |
Monthly Income | The actual monthly withdrawals. $0 when there are none | The "Max Distribution Available" figure (the same four steps) | Anchor × 1.10 ÷ 12, rounded to the nearest dollar | Anchor × 0.90 ÷ 12, rounded to the nearest dollar |
Distribution Rate | Monthly income × 12 ÷ the unrounded total, two decimals. 0.00% when there are no withdrawals | Available %, one decimal | Blank by default. Shows the Available rate when "Show guardrail percentages in the report table" is on | Same as Upper Guardrail |
Worked example
Portfolio $987,000, no withdrawals, rates Lower 4.32%, Available 5.40%, Upper 6.48%. Anchor = $987,000 × 0.054 = $53,298.
Row | Current* | Available | Upper Guardrail | Lower Guardrail |
Portfolio Value | $987,000 | $987,000 | $1,240,000 ($53,298 ÷ 0.0432 = $1,233,750, rounded up) | $830,000 ($53,298 ÷ 0.0648 = $822,500, rounded up) |
Monthly Income | $0 | $4,410 | $4,886 | $3,997 |
Distribution Rate | 0.00% | 5.4% | (blank) | (blank) |
Why the Upper Guardrail can be below the current portfolio
When the client withdraws less than the Available rate, the Upper Guardrail portfolio is lower than the current portfolio. Example: $1,000,000 with $3,000 a month. The anchor is $36,000. Upper Guardrail = $36,000 ÷ 0.0432 = $833,333, printed as $840,000. That is below $1,000,000. This is expected: the client is spending below the Available rate. In the same example the Lower Guardrail is $36,000 ÷ 0.0648 = $555,556, printed as $560,000, and the current rate is 3.60%.
Which accounts are included
An account is included unless one of these rules leaves it out.
Rule | What it means |
Closed | The account has a Date Closed, or its Account Status is Closed, Transferred or Inactive. |
Open with $0 | The account value is exactly $0. An account with no value entered stays in. Negative values stay in. |
Cash type | The type contains checking, savings, savings account, money market, certificate of deposit, CD or cash. |
Education or custodial type | The type contains 529, Coverdell, educational savings, ESA, custodial, UTMA, UGMA, guardianship or conservatorship. This rule also removes "Custodial Roth IRA", "Inherited 529 Plan" and "Inherited Coverdell ESA". |
Blank type | No account type is set at all. The account is treated as cash and left out, and the report prints a footnote (see below). |
Manual exclusion | On the account's Exclusions tab, Guardrails is set to "Always exclude", or "Exclude from all value adds" is on. |
Everything else is included by default. That includes HSAs, inherited IRAs and other inherited accounts, annuities, trusts, TSP and other employer plans, and accounts typed "Other".
How the type is read
SurgeTK reads the raw type text that came from your CRM or import first. If that is blank, it reads the account type field.
Investable words win over cash words. "Joint Checking" and "Brokerage Cash" count as investable. "Cash Balance Plan" counts as cash.
"Other" is a real type, not a blank type. Accounts typed "Other" are included.
Manual overrides win
A setting on the account's Exclusions tab wins over every automatic rule. "Always include" pulls a closed, $0 or cash account back into the report. "Always exclude" removes an account that the rules would include. Read Why a Client or Account Is Missing From a Report for the tab.
Blank account types
When an open account with a value is left out only because it has no type:
The report prints a footnote above the footer: "*1 account totaling $250,000 is not included above — no account type is set." The count and the total follow your data.
The Guardrails page shows the banner "Guardrails issues detected" with the note "These accounts are not reflected in the portfolio values or the guardrail bands below." and the warning "1 account is left off this report because no account type is set ($250,000 total). Set the account type, or include the account from its Exclusions tab. Affected accounts: …1234."
On the account's Exclusions tab the reason reads "No account type set (treated as cash)".
Accounts are identified by the last four digits of the account number. A number with no digits shows "????". To fix it, set the account type on the account's Details tab, or set Guardrails to "Always include" on its Exclusions tab.
Firm settings
Go to Settings › Value Adds › Guardrails › Show Settings. Only an admin can save. Save with the Save Changes button at the top of the Value Adds tab.
Setting | What it does |
The toggle on the Guardrails card | Turns Guardrails on or off for the whole firm. It is on by default. |
"Guardrails Title" | The title printed in the header. New firms start with "Guardrails". A blank title prints "Guardrails Strategy". |
"Guardrails Disclaimer" | The text printed in the footer between the advisor sentence and the copyright line. New firms start with "THIS GUARDRAILS REPORT IS NOT COMPLETE WITHOUT ALL THE ACCOMPANYING DISCLAIMERS!..." |
"Guardrails Distribution Range" | A slider with three handles and the fields "Lower %", "Available %" and "Upper %". |
"Show guardrail percentages in the report table" | Off by default. When on, the Upper Guardrail and Lower Guardrail cells of the Distribution Rate row both show your Available rate and get their borders back. The help text reads "Fills the Upper and Lower Guardrail cells of the Distribution Rate row with your Available rate. Off by default, since guardrails are dollar-value thresholds, not rate thresholds." |
How the rates work
Rates are kept to two decimals.
The band is always symmetric. Available % is the midpoint of Lower % and Upper %. When you move Lower %, Upper % moves the same distance the other way. When you move Available %, both bounds move with it.
Save errors: "Rates must be percentages between 0 and 100." and "Lower % < Available % < Upper % is required."
Defaults: new firms start at Available 5.40%, Upper 6.48% and Lower 4.32%. Firms created before April 2026 may still show Upper 6.00% and Lower 4.80% unless someone changed them.
Buckets has its own copy of these settings with the same defaults. A change to Guardrails does not change Buckets.
The rates apply to every household in the firm. There are no household-level rates.
After a rate change, live reports recalculate the next time they are viewed. Click Refresh to be sure. Saved snapshots keep their old figures.
Footer and disclaimer
Footer line. Firm address, phone number and website, in that order, separated by small dots in your brand color. Empty items are skipped.
Disclaimer. "GENERATED FOR THE CLIENTS OF {advisor names}. {your Guardrails Disclaimer} VALUE ADD COPYRIGHT SURGETK, ALL RIGHTS RESERVED." The whole line prints in capitals.
Advisor names. The household's lead advisors, joined with "and".
No lead advisor. The disclaimer prints "⚠️ NO ADVISORS ASSIGNED" in red bold text. This prints on the client copy too. Assign a lead advisor before you send the report. Surge flags the same problem as "No Advisor Assigned".
Why doesn't my number match?
Withdrawals on a left-out account do not count. The household header "Monthly Distribution" does count withdrawals on cash, education and manually excluded accounts, so it can be higher than the report.
The household header "Total Investable Assets" follows the AUM rule, not the report rule. It leaves out any account whose type contains "savings", including "Health Savings Account (HSA)", and it keeps blank-type, 529 and custodial accounts. The two totals can differ.
A withdrawal with a blank frequency adds $0. Open the account, set the frequency, and save.
Portfolio values in the table are rounded down to $1,000. Guardrail portfolios are rounded up to $10,000. The callout and the current rate use the unrounded total.
The as-of date can come from a closed or excluded account.
You may be looking at a saved snapshot. Choose Live in the snapshot dropdown and click Refresh.
A blank-type account is left out. Check the footnote at the bottom of the report.
Your firm's rates may not be the defaults. Check Settings › Value Adds › Guardrails.
The Guardrails card on the household's Value Adds tab only warns "Household has no accounts." It does not check withdrawals or account types.
Summary
Portfolio = open, non-$0, investable accounts. Cash, education or custodial, blank-type, closed and manually excluded accounts are out.
Monthly income = systematic withdrawals on those accounts, converted to monthly. None means 0.00% and $0.
Max Distribution Available = portfolio × Available %, rounded down to $1,000, ÷ 12, rounded down to $10.
Upper Guardrail = anchor ÷ Lower %. Lower Guardrail = anchor ÷ Upper %. Both rounded up to $10,000.
Upper and Lower monthly income = anchor × 1.10 and anchor × 0.90, each ÷ 12.
Rates live in Settings › Value Adds › Guardrails. New firms start at 4.32% / 5.40% / 6.48%.