CIP/RISK
The 4 pieces of identifying information that can cause an account to receive a CIP/RISK Restriction.
Legal Name
Date of Birth
Address
Social Security Number
The form message used to remove a POA from an account.
WEB628071
This department would answer questions regarding issuing a check and closing an account.
Cash Services - #61, prompt 2, sub prompt 1
This department would assist a client with questions regarding their account when they do not know what branch to call.
Client Relations
True or False: A Birth Certificate can be used in place of an unexpired government issued photo ID (Driver's License, State ID, Passport or Military ID) to prove a client's legal name or DOB are correct in our system.
False. A client must provide an unexpired government issued photo ID (Driver's License, State ID, Passport or Military ID) unless the CIP team (via Service Request) approves the use of a different identifying document. See WEB143737
True
This department would answer questions regarding closing a Select Traditional IRA
Retirement Services - #83, prompt 2, sub prompt 3
True/False: A single account cannot be changed to a joint account.
True - Additional owners can never been added to an account. A new account must be established with all desired owners and the assets transferred into it.
After a branch has scanned in the identity documents provided by the client, this must be done to alert the CIP team to review the documents and lift the restrition.
IDVERIFY on a green screen.
This department would answer questions regarding inherited IRA paperwork
Retirement Services - #83, prompt 2, sub prompt 2
True/False: A joint account can be changed to a single account when a client gets divorced.
False: A joint account cannot be changed to a single account unless it's due to the death of one of the joint account owners. There is no other scenario in which a joint account can be changed to a single account.
True or False: If a client's SSN came back as a mismatch and they cannot locate their Social Security Card, have the branch send a Service Request to the CIP team to request approval to use a different document to lift the CIP/RISK restriction.
False - a Social Security card is the only identity document that can be used to prove the validity of a client's Social Security Number. They must work with the Social Security Administration to obtain a new card.
This department would assist a branch in opening an Estate account.
Account Services - #25, prompt 1, sub prompt 3
False - a minor can only be the owner of a custodial account (custodian account, custodial 529 or custodial IRA). For any other account type, the owners must all be 18 years of age or older.
A client's account is CIPR restricted. Do they need to provide identity documents and complete IDVERIFY to get the restriction lifted?
No. CIPR is a restriction indicating the client's information on the Listholder screen (LHLD,<account number>) is either incomplete or needs to be verified. OMA assists with removing this restriction. See WEB560119
This department would assist a branch with assets transferring from one Edward Jones account to another Edward Jones account.
Transfer Services - #88, prompt 2