Sell High-Cost Position First

This indicates a separate account manager's willingness and/or ability to provide a client with a strategy or proposal of a strategy to sell high-cost positions first when liquidating or trimming back on a particular position. The higher-cost positions are typically newer additions to a position in the portfolio. Selling high-cost positions first may or may not have an effect on the overall taxable effect of that particular position change in the portfolio, depending on the circumstances.