After a client has completed their Risk Tolerance Questionnaire, been assigned a model, and agreed to their IPS, they can proceed with Account Opening on the Client Portal.

The client will enter in all necessary details for the account opening and submit it to the Advisor, who will then take those details to Schwab and open the account.

The full process is detailed below.

Client Account Opening

The process is begun from the Client Portal. The following steps describe the account opening request from the client perspective:

1. After completing the questionnaire and agreeing to the proposal, continue to Account Opening.
2. Select the Account Type to open. Current account types available through Schwab include Individual, Joint with Rights of Survivorship, Tenants in Common, Community Property, IRA, and Roth IRA. This list may be further restricted by the firm setup.
3. Enter all required Account Owner (and Joint Owner, if necessary) information. Note that among other things, the Mobile Phone number will be used to verify identity for DocuSign.
4. The account may be initially funded by cash transfer when opening. Standing transfers or withdrawals may also be authorized at this time.
   
   • If you are transferring cash into the account, select Yes under Do you want to set up a bank account to be used for cash transfers?. If you are not funding the account at opening, select No.
   • If a bank account is already connected, select it from the drop-down. Otherwise, set the drop-down to Link new bank account and enter the appropriate banking information. Only one checking or savings account may be connected at this time.
   • You can set one-time or recurring deposits and withdrawals by filling in the appropriate boxes.
   • Click NEXT when finished.
5. Click SIGN NOW at the bottom to proceed.
6. Follow the steps prompted to verify identity with DocuSign 2FA.
7. Sign the IPS, Account Opening, and any other firm-required documents.

A success confirmation prompt will appear and an email is received acknowledging the submission.