Prevail RIA Elevation Jeopardy 2024

Platforms

100

Prevail's Custodial Platform used to manage client's investment accounts

Schwab 

200

Schwab closed its $26 billion acquisition of this custodian in late 2020, then spent more than three years moving millions of those clients onto its platform.

TD Ameritrade

300

Prevail's CRM used to house client data, keep up with client tasks, and aide in all client relationship needs

Practifi

400

This platform is used for household billing and to run quarterly performance reports for client meetings

Orion

500

This platform is used to send client documents electronically

DocuSign

Client Accounts

100

This account type is opened when a husband and wife want a Schwab account in both of their names

Joint Account

200

A ______ account is considered an entity account and requires Trust documents to be opened

Trust

300

An IRA account can have up to _____ account owner(s).

One

400

This account type is used for charitable giving managed by an outside entity.

Donor Advised Fund

500

This account type is a custodial account that allows adults to manage and protect assets for a minor.

UTMA

Various Forms

100

This is Prevail's internal form used to open an account at Schwab

CIF

200

This form is used to collect client's risk tolerance

Risk Tolerance Questionnaire 

300

This Schwab form is used to move funds from a client's IRA to a Roth IRA

Roth Conversion Form

400

This Schwab form is used to set up recurring check requests from standard client accounts.

Check Request Form

500

This Schwab form is used to move funds out of an IRA account.

Distribution Withholding Form

Processes

100

This must be included with the CIF to link a client's bank account to their non-corporate Schwab account

Voided Check

200

This must be provided to trades to move funds from a client's Schwab account 

Verbal Confirmation

300

Send your CIFs to this Prevail person to get accounts opened/transferred/updated

Randee Davis

400

Send verbal confirmation to this team to get funds traded/moved from client Schwab accounts

Trades 

500

Wire instructions must be provided in this format when verbal confirmation is sent to trades

copy/paste

Year End

100

You must start taking this when you reach age 72, or 73 if you reach age 72 after December 31, 2022

RMD

200

This is the final date you can complete distributions from IRA accounts (as long as a bank account is linked & its not a weekend)

December 31

300

The process of moving all or part of a traditional IRA, SEP IRA, or SIMPLE IRA into a Roth IRA is called what?

Roth Conversion

400

This is a federal tax document used to report the income, losses, and dividends for a business' or financial entity's partners or an S corporation's shareholders. (Clients in SI1/SI2/SO receive these)

K1

500

This Annual Prevail Event is happening tomorrow, December 6th.

Prevail Christmas Party