C.R.E.A.M.
Cash Rules Everything Around Me
Cash Rules Everything Around Me
How can funds be journaled if there are 2 different rep id's?
Unable to process via MM tool, will need to submit request on behalf of advisor.
DEMO
This platform has a minimum exception of $25k
SAM
What dept can give guidance on the recently departed and those freed from the bondage of marriage?
The Estate Team
How many LPL locations do we have listed?
7
TX, MA, Carolina, OH, KS, CA, DC, NY
What form allows a beneficiary to disclaim their portion of assets?
CM107
This screen allows you to make changes or updates to the spelling of a name or address on the ACCT screen
ACTU
This platform has a $1k minimum balance
OMP
Trying to expedite a TPW(third party wire)
Third party Wires Mailbox(thirdpartywireteam.mailbox@lplfinancial.com)
What does LPL stand for?
Linsco Private Ledger
When can checks be mailed to a Reps office?
When checks are being made payable to an institution fbo the client
This screen shows you transaction history of contributions, distributions and fees for IRA accounts
IHIS
DAILY DOUBLE!!! What is the difference between a SAM I and SAM II account?
Client pays all ticket charges in a SAM I. SAM II the rep is responsible for paying all ticket charges
What dept can help with depositing stock certificates?
Custody
Do we expeidte new OA/SPA requests?
NO!!!!!
Can IRA's have check writing privileges?
Yes, if the client is over the age of 59.5
This screen displays manually requested checks
RCHK
March, June, Sept, Dec is what billing cycle?
Cycle 3
Rep needs help with a Tender Offering
Corporate Actions
What are you afraid of if you suffer from arachnophobia?
Spiders
DAILY DOUBLE!!! What is a Source of Funds credit?
The credit a client receives on their newly established advisory account, for trades that were placed in the brokerage account recently before the acct was moved to advisory.
This screen displays the status of an ACH transaction in process
MACH
What is the Advisory Fee based off of?
Value of assets in the account, including cash holdings and is billable quarterly in advance.
Rep needs assistance with setting up an asset allocation or help communicating about the market to their client?
Research Team
ASK.Research@lplfinancial.com
617-897-4755
DAILY DOUBLE!!! When did LPL go public?
November 18, 2010
What is needed to make a distribution from a Collateral Account?
Letter from the bank authorizing the distribution.
This screen shows what the IRA transactions codes mean.
PECO
Which platform has a $250k minimum?
PWP
Rep has a new admin and she needs to be set up with CW access?
Client Technology Management(CTM)
What are the two major acquisitions LPL recently closed on?
Atria and Prudential
How can 3rd party ACH's be processed?
In MM 2.0 only
This screen displays all check writing activity include paper checks, debit card purchases or checks submitted electronically as an ACH
VEST
What is the difference between SAM/SAM II and Managed accounts?
With SAM/SAM II the rep makes the trades on Managed Accounts the Money Manager places trades.
Rep is trying to get his website approved by LPL
Marketing Regulatory Review(a part of Compliance)
Who is service's SVP?
Mary Kate Van Sickle
Outside of an Advisory Fee, name 2 fees that cannot be written off via the MM tool
This screen shows mutual fund periodic purchases and sells
PIPS
To get a minimum exception on this account it has to be approved by LPL and the Money Manager
Manager Select
DAILY DOUBLE!!! Who can help the reps process a share class conversion and how?
There is a form on the resource center, once completed it is sent via email to LPLFinancialMFShareClassConversionRequests@lplfinancial.com
What report will show payouts for interest and dividends coming into an account?
Estimated income report
What is Freeriding?
Freeriding is the act of buying shares of a security (creates a debit balance in an account), not paying for the shares, and then selling those same shares.
DAILY DOUBLE!!! This screen displays wiring instructions for retirement accounts and status of transactions(requested, approved or voided)
ROCK
When can a managed account not be reactivated and it has not been deactivated over a year?
If terminated for Compliance Reasons
Who processes DWAC Transfers?
Corporate Actions (it is to transfer employee stock options)
What Service EVP left leaving in December?
Amy Philbrooke
What documentation is needed when wiring out funds for a non lpl investment?
Form CM203A “Non-Solicitation/Non-compensation acknowledgement” (WTP), which must be attested to by the account holder and financial professional.
This screen will show you the name and department for a person that edited a file, left a SPAD or processed a transaction
INIT
What are the 2 things all managed accounts have in common?
Margin and check writing are not allowed
If a transfer is rejected due to a penny stock (unlisted and low-priced security) coming over. What department can you reach out to for an exception?
MarketSurveillance@lpl.com
What are the 4 Executive Leadership Roles after VP
SVP, EVP, President, CFO