Investments
What types of brokerage products are allowed in Advice portfolios?
What is FIRM rule? Does this matter with Roth Conversions?
First is Required Minimum Distribution. They must satisfy it first before a conversion so that it does not count as a CONTRIBUTION to the Roth.
What are the four types of TOA transfers we contain in ASG?
ACAT, Non-ACAT, DRS, and PTF
Why might a client request a change of ownership? At least 3 reasons.
What was our #1 key takeaway for dap accounts for day 1 and day 2
DO NOT SELL TO THE SETTLEMENT FUND!!!!
What are the top three countries VTABX is exposed to? (60 second question)
Search VTABX > Click portfolio composition > weighted exposures > markets: France, Japan, and Germany
What is pro-rata?
It determines how much of a IRA account is taxable and how much is not, when both pre-tax and after-tax IRA funds are present. Client is responsible for keeping track to report to the IRS.
A client calls to Rollover their IRA at Fidelity to their IRA here at Vanguard. What should we tell them?
This is an asset transfer IRA to IRA.
Provide resource links...
1. to confirm necessary level of security to pass client 2. to confirm whether we need client on the line prior to submit COO
Cross registration tool
14PAS Transaction Guide
How can we process a COO for DAP clients? What is the SW we can use?
COO BPM
COO and Gifting for Advised Clients
DAP Money movement SW
Give me an example of Investment Guidance. How is this different than advice?
Varied Answers. Must be fact based.
Roth Distribution Order
1) Contributions
2) First Conversion
3) Subsequent Conversions
4) Earnings
What does a client need to open a trust under agreement?
• The trust name and date.
• The current trustees’ names.
• All signature pages of the trust document.
What resources can we use to understand age of termination vs age of majority? What is the difference?
Age of Termination
Age of Majority
Bonus
woot
What are the 3 AML questions that should be asked to a client when doing a OTW to bank not on file?
1. Who is the beneficiary of the wire?
2. What is the purpose of the wire?
3. How did you (client) validate the wire instructions with the recipient of the wire?
What are our options for clients who are the beneficiary of assets? What about the spousal options?
Assume (spouse only), inherit, or disclaim
What happens when a client takes a indirect rollover of an inherited IRA?
It counts as a distribution that they cannot put back in the inherited IRA.
What is the difference between voluntary and involuntary divorce process?
Voluntary is a distribution so it is a taxable event.
What process is Converting nondeductible contributions
Backdoor roth conversion
What resource do we use for clients who want to take a one-time withdraw of an ETF from their account. Give me a quick summary of what needs to be done to ensure they get the money.
Preventing Reinvest for Client One-Time Withdrawal
What is our tool for any and all inherited IRA conversation with clients to help them understand their options? Drop it in the chat.
Retirement Inherited Call Job Aid - Power Apps
What is a Vanguard Retirement Investment Program (VRIP) Plan?
Vanguard Retirement Investment Program (VRIP) plans are for retirement plans established by an employer for the benefit of its employees.
What documents are needed for involuntary divorce proceedings?
The court certified document MUST order the transfer of holdings, be specific, and list ALL of the following:
In what order do dap distributions run? Order the following: One time distribution to bank, QCD for $200, RMD Auto withdrawal, QCD for $400