SPA‑Tacular Operations
Form & Function Frenzy
Fee‑Fi‑Fo‑Fund
MAS‑querade Moves
Trait or Treat
100
In SPA, this arrangement holds assets at outside depository institutions, not Merrill Lynch; it typically requires $1,000,000+ per SPA account and coordination among the FA/CA, New Accounts, and MAPS, and not all managers will accommodate it.
What is DAC/RAP?
100
Packet code 3167 that includes SPA questionnaire, client agreement, and FA attestation.
What is the SPA Enrollment Packet?
100
The SPA fee is charged this way and covers custody, reporting, and ML brokerage services.
What is an annual asset‑based fee, payable quarterly in advance?
100
The MAS enrollment approval process requires the branch email this team with account details, asset value, manager name, and strategy before enrollment approval is granted.
Who is MAS Business Management
100
This section in KDI shows the Investment Manager contact information for SPA/MAS accounts.
What is “MC” in KDI?
200
This SPA step is the “green light” for trading—sent after SPA‑Priority1 verifies funding and enrollment documents, it authorizes the investment manager to begin trading in the account.
What is the trading authorization memo?
200
Document generated via the fee calculator; must be signed by client + branch manager.
What is the Portfolio Information Form (PIF)?
200
PCs are paid on this portion of the dual fee model.
What is “Merrill Lynch fee only”?
200
This is the minimum funding generally required to open a MAS account without special approval.
What is $100,000?
200
To add DTC electronic trade confirmations, go to F9 ML Access → RCE and enter this path in the action field.
What is “5/5/1”?
300
Clients may impose these on their SPA accounts, but must communicate them directly to their investment manager.
What are investment restrictions?
300
Resolution required for EMA/WCMA corporations and unincorporated organizations.
What is the Advisory Services Resolution (1101)?
300
This SPA tool generates the Portfolio Information Form and calculates fees based on asset values and manager selections.
What is the SPA Fee Calculator?
300
This type of security cannot be purchased in MAS accounts.
What are open‑end mutual funds?
300
This operational step ensures that investment managers can reconcile accounts by receiving monthly statements through a duplicate address added in KDC.
What is setting up duplicate statements?
400
This SPA rule prohibits certain retirement accounts from enrolling effective June 9, 2017.
What is the Stop Sell rule?
400
POAs cannot sign SPA/MAS documents unless this group approves (coordinate via Account Maintenance Special Fiduciaries).
Who is Legal Advisory Services?
400
This team must be emailed along with an SRP to SPA‑Priority1 when updating fee rates so billing changes can be applied.
Question: What is ISG Client Billing?
400
This MAS group adds the MAS trait once documentation is scanned and verified, and sends the trading authorization memo to the investment manager and branch; they also process terminations and certain fee election changes.
What is MAS New Accounts?
400
Branch staff use this primary client‑data system to set and verify operational flags—such as duplicate statement addresses—and to view certain manager contact details tied to SPA/MAS accounts.
What is KDI?
500
DAILY DOUBLE: Use this short code in KDI to view duplicate statement settings when a manager requests monthly statements
What is “DU” in KDI?
500
This SPA/MAS rule requires that all enrollment documents be scanned within this timeframe after account opening to avoid compliance exceptions.
What is 30 days?
500
Alternate debit for fees can be set up with this document and team; pledge to LMA accounts are ineligible.
What is an LOA + ISG Client Billing manual setup?
500
DAILY DOUBLE: This document shows Merrill and Manager fee rates and trade confirmation election; for MAS it requires client + branch manager signatures
What is “Attachment A (Part 1)” in MAS?
500
When requesting electronic trade confirmations, this five‑digit institutional identifier must be included in the message instructions so confirms route correctly to the investment manager.
What is the DTC ID?
600
This SPA document confirms the FA discussed platform options with the client and must be signed on page 30.
What is the FA Attestation?
600
This questionnaire is required for non‑resident client enrollments and must be pre‑approved by Business Governance.
What is the ISG International Questionnaire?
600
To enable macros that print the PIF, save the fee calculator here and click “Enable Content.”
What is a trusted location (H drive/SharePoint) with “Enable Content”?
600
This MAS rule requires that the client agreement be signed within this number of days from the client’s signature date to remain valid.
What is 90 days?
600
To verify duplicate statements were added or removed, use this KDI action code.
What is “DU”?