General
What does VBA stand for?
Vanguard Brokerage Account
Which account type requires extra documents to transition?
Trust account
How many days will it take for the client to see everything transitioned over into the upgraded account?
1-2 days
Which of the accounts listed below are not eligible for the VBA transition?
Simple IRA
529
Individual 401k
All of the above
Why are we asking clients to transition from TA to VBA?
We believe that the VBA platform is the best long-term platform for all of our Retail clients
In Crave, where do you go to see if an account is eligible for an upgrade?
Profile and Account settings, Services, Upgrade Accounts
OR
Open an account "eligible accounts"
How many checkbooks are allowed per VBA account?
1
If Joe and Tina have a joint account and Tina is the primary joint owner; who's profile must the transition be completed on?
Tina
Which clients do we target, and why?
We target mutual-fund only clients.
T/F can a full agent process the transition for another client?
True via paper form
T/F : Client must delete AES (Automatic Exchange Service) after transitioning to the VBA platform
False (Has to be done before transition/ after transition only similar functions like AIP/AWP are available)
If the client cannot complete the transition due to an automatic exchange on their account which department should you transfer them to?
Investments
How does the experience work for clients with RMDs?
For clients who have RMDs associated with their accounts, we carry over their RMDs to the new platform.
Why does the client need to provide employment information?
Knowing employment status helps Vanguard and its regulators protect all investors from the potential for illegal activity.
If full agent loses access after the transition and their transaction link does not work what steps do you have to take to restore their access?
Locate original form sent in, reach out to JSS, and submit CMS case.
This client cannot transition because they have a ______ a_________s.
Foreign Address
If the client is an associated person, can they have a brokerage account?
Yes, however, associated persons may be subject to requirements under FINRA rules.
How many ways are there to transition to a VBA and what are they?
3 : Merge, Merge to Existing, and Expand
Which restrictions are carried over after transition?
- Address change hold
- Frequent trading policy freeze
- Uncollectible balances
If a client calls in and they have this a COO case worker will have to review the designation before ineligibility can be overridden.
Customized Beneficiary