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Management Fees, SAY WHAT?

100

• What is the cutoff for same day processing of Management Fees?

2:30 eastern

200

• IA Wanda is SPICY because she submitted the form to update her management fees to be sent via Moneylink last month but they are still being sent via check WHYYYYYY?
• Bonus question 1) What form does Wanda need to submit to add that Moneylink profile to her fee account? 200 points
• Bonus question 2) Who signs that form?  20 points

Because she did not submit a form to actually set up the Moneylink profile on the fee account

Bonus 1)  Moneylink form

Bonus 2) Auth agent on the fee account

300

• IA Ronaldo called crying because he cannot see his fee account!  What does Ronaldo need to do so that he can see his fee account on SAC?

An LOA on company letterhead requesting to link the fee account to the master and signed & dated by the principle

400

• Where can the IA go to review what they’ve submitted and who should you email if they request to cancel their fees or part of their fees?
• Bonus:  What information do you need to include in your email?

More tab>Upload Files >View Upload History –

Move Money Solutions Management Fees 

Master account number

File ID

500

• IA JoeBob is frustrated because he keeps getting sent a check for his management fees. 
• What form does JoeBob need to submit to update how his fees are sent?
• Bonus question 1) Who can sign that form? 100 points
• Bonus Question 2) Can it be DocuSigned  20 points

Management Fee LOA

Bonus 1) any agent listed on the fee account

Bonus 2)  yes

I don't TRUST you

100

• IA Jolisa wants to set up a new trust account for a client,  What documents does she need to submit?

• Title page, signature page and notary pages

200

• IA Keith wants to add a DPOA to a trust, what do you tell him and what form does he use?

• You cannot add a DPOA to a trust, but you can give Full or Limited withdrawal power with the Trading and Withdrawal Authorization form

300

• What paperwork is required to add a trustee?

• Trustee Change form, depending on account features, the following may be required (see Trust Account Decision Tool)

400

• What is the difference between a revocable and an Irrevocable trust?

• A revocable trust can still be revoked or changed by the grantor of the trust and an irrevocable trust cannot.  For example when we are setting up a new trust for a successor trustee from a decedent’s trust, that new trust is irrevocable, it cannot be changed from what the grantor laid out in the original trust documents. 

500

• On the Trustee Change form, what sections must be signed if a trustee is resigning and by whom?
• Bonus question 1) What documentation do we need if a trustee is resigning? 100 points
• Bonus question 2) Does this form need to be notarized? 100 points
• Bonus question 3) Does section 9 need to be initialed and by whom?  1000 points.

• Section 4, section 9 and section 10.  Section 11 is only signed if they are adding HYIC.
• Bonus 1) A notarized LOA from the resigning trustee IF they are not signing the form.
• Bonus 2) Yes if not docusigned.  The LOA mentioned above MUST be notarized, because it is an LOA, it is not eligible for docusign
• Bonus 3) YES all three boxes need to be checked by ALL trustees, new and continuing.  Add additional pages if needed.

I've got a real Estate question

100

• What form is needed to rollover a decedent’s IRA to their spouse’s account?

Bonus question:  Why? 300 points

• INH IRA app
• Bonus:  This form includes the instructions to rollover a decedent’s account into their spouse’s existing IRA OR into a new IRA.  This form will do both of these things.  It will NOT open an INH IRA unless indicated.

200

• What form do you use to change the trustee on a decedent’s trust account where they were the only trustee?

• Trust account application.  If the existing trust is reporting under the decedent’s SSN, a new trust acct MUST be opened with a new TIN UNLESS a grantor is still living then they may open the new acct under the existing grantor’s ssn.  IF the existing trust is reporting under it’s own TIN (check carefully in CC), they they may use the Trustee Change form to update trustees.  They still must provide trust pages showing who the successor trustee is.

300

• What documents are needed to set up a new trust for a successor trustee? (be specific)

• Title page, signature page, notary page and any pages that name the successor trustee.  Trust account application

400

• IA Roberta is calling on a status of an Estate case because she says “Schwab hasn’t sent me anything at all”.  What should you look for in the ES case to determine what is needed to process the decedent’s accounts? 

• First step is to look in the ES case (have they submitted the DC?) and find the processor notes which outline every single thing that is needed to process. 

500

• In what scenario would a client need to provide a Small Estate Affidavit?

If a decedent’s estate qualifies as a small estate, the authorized heirs can claim the decedent’s assets without court administration by moving the funds into an account (new or already existing) once they have provided the Small Estate Affidavit.

Doc-eewww-sign

100

• If an advisor is sending an envelope through the console, do they still need to include the Non-Schwab template to process?

Yes

200

• Can advisors include their own forms and agreements with Schwab forms?

• No

300

• Can an advisor send a message to their client with the envelope and where would they do that?

• Yes, Add a Message, just after selecting authentication (SMS & KB)

400

• how many days does the client have to sign until the envelope expires?

• 60

500

Where can an IA sign up for AODS?

Account management page AODS hyperlink