Processing
The Advisor Relationships that will be affected by the new DOL processing rules.
What is IAR’s and Co-Advisors
This is the form required with all new Applications opened under AEWM
What is Addendum III (Suitability & Risk)
This is the date the new DOL rules go into effect
When is Feb 1, 2022
This is the additional form required when doing a rollover as of February 1:
What is Addendum IV?
This movement of money from an IRA to a Roth will require an addendum IV
What is a Roth Conversion?
Placeholder cases are:
What is no longer needed
I am opening u 3 new accounts all with the same suitability, so I can:
What is put them all on 1 Suitability form
The form advisor needs to fill out for insurance transactions
What is the PTE 84-24?
This is the only new requirement when an account is being opened but no funds are being rolled over
What is account level suitability?
Where the Advisors can find Training videos and other resources on DOL
What is the AEWM website or Business Resource site
If the AEWM paperwork is NIGO’d but the Custodial paperwork is IGO.
What is we NIGO them both until the AEWM is IGO
This is where you can find a blank copy of the Addendum III
What is the AEWM Website
This is what an advisor needs to do with the PTE 84-24 once its filled out
What is store the document?
This is the number of times a advisor will have to fill out addendum 4 if he does 3 rollovers to the same account on three successive years.
What is Three?
Webinar happening this afternoon that we can direct Advisors to register for if they have questions.
What is the DOL Live Q&A?
Done whenever you pick up a New Application or Qualified Transfer Case
What is search AEC and Orion for the DOL requirements
This is what you do if you receive an old version of the Suitability ppwk signed Feb 1st.
What is NIGO for the new paperwork?
In addition to Client level suitability, advisors are now required to gather information at this level
What is Account level suitability
This is what you do if you receive an addendum IV with a portion not filled out.
What is NIGO?
What I do if I have the AEWM ppwk Case for Jane Smith and another processor has the Custodial case for Jane Smith.
What is assign the Custodial case for Jane Smith to myself
This is what you do if you receive an Application for a Qualified account with no Transfer form
What is NIGO to ask for clarification on Funding
The document off SharePoint I use if we receive a New Application without an Addendum III
What is the DOL NIGO SOP and/or AEC Notes Template
This is where you list any questions you receive from Advisors concerning the new DOL updates
What is the DOL Questions Tracker on Sharepoint?
This is what you do if you do not receive an addendum 4, but the paperwork is signed before Feb 1.
What is process the thing.
This is the number of accounts you can put on the same account suitability form