Clients with Fidelity accounts can request a cash transfer through the Client Portal if this feature is enabled. The information of the client request is passed to the advisor through the Wealth Platform, where it is then manually submitted into Wealthscape and marked complete for the client.
The full process is detailed below.
Client Request Process
The process is begun from the Client Portal. The following steps describe inititating a cash transfer request from the client perspective:
- From within the Client Portal, click on the left side navigation.
- Click in the Cash Transfers box.
- Select the Account to transfer and the type of transaction, Deposit or Withdrawal.
- Select the bank account to transfer cash to/from. If a bank account has not yet been added, this will need to be completed first.
- Set the Start date, Amount, Frequency (one time or recurring interval), and enter a Transfer Memo.
- Click Next.
- Confirm the information entered and click Submit.
The Cash Transfer request appears in the Cash Transfer box with a status of Awaiting Advisor Submission.
When a client submits a cash transfer request, a new alert is generated in the Wealth Platform. If a Wealth Platform user is subscribed to the alert type, they will also receive an email.
The alert type generated is “Cash Transfer ready to be submitted to Fidelity”.
Upon receiving the cash transfer alert, the Advisor takes the following steps:
- Expand the alert in the Wealth Platform and click the link to be taken to the transfer details.
- Click the link or manually open Wealthscape in another tab or window and submit the cash transfer details for the client.
- Once the request has been entered into Wealthscape, return to the Wealth Platform cash transfer details and click at the bottom of the details section.
The status on the Workflow tab and on the Client Portal will update to “Submitted”.
Client-led Standing Instructions/Cash Transfers (Pershing)
If the feature is enabled in the Client Portal configuration, Clients may request one-time or recurring deposits or withdrawals. The Client fills in all necessary details, eletronically signs the request, and request is automatically submitted to ...
Advisor-led Standing Instructions/Cash Transfer (Pershing)
The following process allows an Advisor to submit an ACH request on behalf of a client. This can be one-time or recurring, deposit or withdrawal. ACH Transfer The ACH Transfer process is begun on the account profile that you wish to transfer funds ...
Client-led ACH Transfer Requests (Schwab)
If the feature is enabled in the Client Portal configuration, Clients may request one-time or recurring deposits or withdrawals. The Client fills in all necessary details, eletronically signs the request, and the Advisor pushes the information to ...
Advisor-led One-time ACH Transfer (Schwab)
The following process allows an Advisor to submit a one-time ACH request on behalf of a client. Before a transfer can be submitted, a MoneyLink must be established. ACH Transfer The ACH Transfer process is begun on the account profile that you wish ...
Advisor-led Recurring ACH Transfer (Schwab)
The following process allows an Advisor to submit a recurring ACH request on behalf of a client. Initial Request The recurring ACH Transfer process is begun on the account profile that you wish to transfer funds to. Navigate to Manage Clients > ...