1: Account Registration Types
A custodial account used to gift assets to a minor.
What is UTMA/UGMA?
The participant who manages and controls the trust account's assets.
Who is the Trustee?
The account registration type for group retirement plans.
What is Corporate Pension/Profit Sharing (CPPS)?
Client Profile & Investment Objectives, Recommendation Rationale, Alternatives Considered, Cost & Conflict Disclosures, and Ongoing Updates
What are Reg BI requirements?
The step in COB where agents can add asset movement instructions, annuity orders, or initiate account transfers.
What is Add Related Requests?
A non-retirement individual or joint account that allows the assets to pass to beneficiaries and bypass the estate or probate process.
What is Transfer on Death?
The primary participant on an UTMA/UGMA.
Who is the Minor?
The account type to be used when Ascensus is the TPA.
What is Individual 401(k) Participant?
The location of additional notes for Reg BI for client onboarding or annuity orders.
What is Activity Capture Tool?
The step in which agents must enter authorized signers on the account.
What is Step 1: Getting started?
The type of trust that cannot be altered while the grantor is still alive.
True or False: In COB, IRAs can have more than one beneficiary.
What is True?
The option in step 2 of COB to select under Third Party Provider if Ascensus is doing record keeping.
What is Ascensus?
(answer will be yes or no): A client is rolling over funds from an IRA to an IRA internally at PAS. Is the rollover comparison form needed?
No
The button agents must click to enter additional information on forms generated during COB.
What is Forms Edit/Review?
The IRA type with no Required Minimum Distributions (RMD).
What is a Roth IRA?
The name entered for the custodian on Third Party accounts.
What is Third Party?
The role designation for authorized signers on plan documents for Off-Platform Third Party Accounts during step 1 of COB.
What is a trustee? *must add as additional participant in step 1 of COB
An outside business activity or marketing allowance that may incentivize the rep to recommend a particular product or advisory program
What is a conflict of interest?
The box that must be checked in order to add additional documents, such retirement plan or trust documents, to the signature package in COB.
What is the "Add Additional Documents & Customize eSignature Envelope" checkbox?
The account type that is typically opened for a short period of time to facilitate the asset movement and then closed once the affairs of the account are handled and complete.
What is an Estate?
The step in COB where agents can add and designate a trusted contact.
What are steps 1 & 2?
The SIMPLE IRA account type opened at the plan level.
What is SIMPLE IRA Plus?
The GOL page that houses Rollover Comparison information
What is the Department of Labor Prohibited Transaction Exemption?
What is clicking the "Follow this Request" button?