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 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 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 clients? What is the SW we use?
COO BPM
COO and Gifting for Advised Clients
Give me an example of Investment Guidance. How is this different than advice?
Varied Answers. Must be fact based.
What resource do we use to decide what type of adjustments are needed in a clients IRA account? What are the scenarios?
RMD Service Adjustment for Advised Clients (SW)
Pending Distribution/QCD and RMD Service set to Calculate AND Distribute
Settled Distributions/QCDs Not Included in RMD Service Calculation
Incoming Transfer of Assets in an Account Opened This Year
Missed Previous Year’s RMD and a Distribution Transaction is Pending
Missed Previous Year’s RMD and Distribution(s) Completed in Current Year
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
Give me the navigation to help a client do research on Vanguard Mutual funds. Where would they find the fee structure? You can screen share.
Products and services > mutual funds > shop all VG mutual funds > select a fund > performance and fees.
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 is Abby's due date?
12/28
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:
Esther has decided she wants to assume the inherited IRA. What would she need to do to move the inherited assets into her own name? (ASG Contains this)
Election by Surviving Spouse to Assume Inherited IRA Form