The following process allows the Advisor to open an account for a client, rather than the client opening the account themselves through the Client Portal. This can be done when an advisor is in direct communication with a client.
The process can be interrupted at any point and progress will be saved. Simply click the Account Documents Status line on the Opportunity row to resume.
An account must be attached to an Opportunity. If you do not yet have an Opportunity created for the account, see Creating a New Opportunity.
As Part of Creating a Proposal
During the final phase of creating a Proposal for a Client, you can jump directly into adding a new Account.
After or Without Proposal
If a Proposal was already created, or you wish to create an Account without the IPS:
Select the Custodian and Rep Code under which to open the new account. If only one option is available, the selection will be pre-filled for you and you can clickto proceed.
If an IPS has already been created for this Opportunity, the Account Type will already be selected and cannot be changed. Otherwise, select the Account type to open.
The Account Number should be left blank, it will be assigned from the predetermined pool of available account numbers.
All required information about the Primary Account Owner should be entered on this page. Clickon each page when finished to proceed to the next tab. The number and the types of pages of Account Owner Info needed will vary based on the Account Type selected in the previous step.
The Attributes section will vary based on your Custodian. Review all sections carefully and enter appropriate settings before continuing to Funding.
The account may be initially funded through Funds Transfer or Account Transfer.
Funds (Cash) Transfer
Select Yes if transferring funds in from a checking or savings account. You can also use this section to set up recurring disbursements.
If you are only funding through account transfer, select No and then click . Jump down to Account Transfer directions.
Clickto proceed to Account Transfer.
Select Yes and click if transferring in securities from another account.
If you are only transferring Cash, leave the option as No and click . Jump down to the Confirm section.
Select the firm type to transfer from: Brokerage Firm, Mutual Fund Company, Insurance Company, or Former Employer’s Plan and click . (These options may not all be available based on Firm configuration.)
The remaining screen(s) will vary based on the selection made. Enter the appropriate required fields for the initial transfer. Clickto advance to the final Confirm section.
All the entered information will be presented for your review. Clickon any section to jump back to that section to make changes. Once all the information is verified accurate, you have the following options at the top: