Staying in Your Lane
The client has questions regarding RMD. How should this be handled?
Redirect to Retirement Services
An alert was sent for NIGO items three weeks ago. The service team is reaching out for status. There are clear notes in the case with NIGO items needed to move forward (Page 3 of AAA needs to be completed).
How should you respond?
Advise that the case has been noted with the information needed to move forward. Also, an alert has been sent to IA. Feel free to reach out with any questions.
What is the pend process for NIGO cases?
Pend 30 days after phone call, email or an alert has been sent. If there are no updates, or associated cases with new docs, terminate the case due to non-response.
JTWROS account being opened. Agent is DPOA for AK1 and will also be a joint tenant. What are we looking for in the DPOA?
What the DPOA Chart says we need. In general, express language for commingling assets & being a joint on accounts with principal.
Retail forms were provided for an AS account. What should the next steps be?
Send an alert to the IA for correct form and pend case 30 days.
->Do not contact client or cancel case
What is the largest desert in the world?
Antarctica
Agent is wanting someone to walk through setting up online. What should the next steps be?
Redirect client to the 4000 line
Before requesting a 9/10 exception, what steps should we be taken first?
Request the missing information from the IA/client. There should be a reason for the exception.
Case was created without an account number. When should the account number be updated in MyQ.
Immediately
AS NADPOA case: Agent signed new account application and delegation powers were not granted.
What two alternatives should we be providing?
1) If the Account Holder/Principal is capable of signing, they will need to execute (sign) the application; or,
2) The firm may be added in an NDFA (non-discretionary Financial Advisor) role only.
ASDPOA request for a trust account. How should this be handled?
Send an alert informing the IA the account type is not eligible and terminate the case.
Which ancient culture is credited with developing the first toothpaste, using crushed ox hooves?
Ancient Egypt
An agent is asking for statements. What is the correct response?
Let the agent know that they can access statements online, or they call the 4000 line for paper statements.
You're unable to get through all the cases you pulled for the day. What should the next steps be?
Reach out to your TL/Manager to ensure the cases get processed same day.
Retail DPOA and unable to locate tax powers. What should the next steps be?
a) Seek a second eye
b) Send for Risk review
C) Mark NO
C) Mark NO -No additional review needed
New account application was signed 9 days after execution date provided on AAA. DPOA was added to a separate account utilizing the same AAA last week.
Next steps should be?
a) Request a new AAA
b) Nothing -Ok to move forward
c) Request an exception
b) Nothing -Ok to move forward since AAA is within 30-daytimeframe.
First two items to verify with Trustee/Grantor reviews?
Who signed:
1) The new account application; and,
2) Trust Docs
Name Brett's favorite Starbucks order
Chocolate Mocha Crunch
You're on the phone with a client and they have questions regarding an associated case that is not DPOA related.
What should your response be?
Let the agent know that you primarily review and approve DPOA. Redirect to 4000 line.
You're unsure of the DPOA process for entity appointments. After researching you're still somewhat confused and would like a second opinion to what is exactly needed.
Who should you reach out to?
Reach out to your buddy, or a SME for Entity Appointments on the team. If buddy & SME are both unavailable, reach out to DPOA chat
Before sending a case for Risk review, what needs to happen first?
Have a 9/10 or TL/manger review first to confirm whether the case is needing Risk review
NADPOA case: All documentation, including the new account application is signed by the principal. Tax powers are not granted. What should the next steps be?
a) Escalate for CST review
b) Nothing
c) Get a second opinion
b) Nothing since the forms are signed by the account holder/principal. If everything provided for DPOA is IGO, ok to move forward.
Situations where it would be appropriate to have CST review?
1) Power review for an associated/existing request, and,
2) To ensure external document requirements are sufficient.
What is the only bird known to fly backward?
The Hummingbird
DP case created from an AM case. The existing DPOA agent signed the Beneficiary Designation form. The AM case is pending for beneficiary review in the DP case.
How should this be reviewed?
By the EstateSupportOps box
Note the associated AM case: "For DPOA power review/clarification, please route case to the EstateSupportOps box."
Note DP case: Not a DPOA opportunity since DPOA is on account, noted AM-XXXX" >Cancel DP case.
Who is our current SME for Commingling Assets/JTWROS for joint accounts?
Brett!
Situations where it would be appropriate to route case to EstateSupportOps for 9/10 review?
1) There are elements where a certain power is unclear and needed for an associated request, or to ensure document, internal/external document requirements are sufficient.
2) Exceptions; and,
3) Q/A
Note: Reach out to 9/10 or Manager for an exception first
NADPOA case: You notice the new account application is missing a page and/or required information.
What should the next steps be?
Nothing, the missing information is for the Account Solutions team to address.
Only items pertaining to DPOA need to be addressed.
AS DPOA case:There's an associated AM case with a beneficiary form completed by the agent. The AM case is pending review in your DP case and you're unable to locate express beneficiary powers.
What should the next steps be?
Since there is an associated case pending review of certain power needed, escalate for CST to review/confirm beneficiary powers.
In which country is it illegal to own just one guinea pig?
Switzerland
Who should you reach out to before reaching out to the DPOA chat, or TL/manager and why?
Your buddy. For consistency - Your buddy can identify trends and provide coaching where needed.
Flow of communication when needing help with a case
Reach out to assigned buddy. If buddy is unavailable or unsure, reach out to the Denver DPOA chat.
What's considered an international DPOA case? What three reps process international DPOA?
Agent resides internationally
Norm, Mina and Brenda
Grantor/Trustee review: DPOA signed Trustee Change form, trust document signed by grantor/principal.
What should the next steps be?
Note you case that this is not a DPOA opportunity and for account solutions to refer to their procedures for signature requirements > Send to Data Remediation
Name 3 items CST does not review:
1) Cases with international elements
2) Document requirements/procedures; and,
3) Exceptions Request
Which animal is known for having up to 2,500 teeth
The snail
DPOA has been requested for a trust account. After communicating that trusts are not eligible for DPOA and providing appropriate options, client is asking for documentation needed for a trustee change. What should the next steps be?
Communicate that you primarily review and approve durable powers of attorney. Any questions outside of DPOA, they need to contact their FC, Advisor or 4000 line for assistance.
You notice there are notes placed by SVI in CC.
What should the next steps be?
Email the assigned SVI rep who placed the note and confirm whether or not it's ok to move forward with the DPOA process.
First two things we should always do when pulling a case
Update account number, then look for associated cases
AS NADPOA case: New account application has been signed by the agent. Unable to locate delegation powers.
What should the next steps be?
a) Email Risk
b) Get a second eye
C) Escalate for CST review
C) Escalate for CST review
When should we escalate a case to the Service Team
For Fischer Investments & Family Office for NIGO
Which war was fought between the years 1618 and 1648?
The Thirty Years' War
Notary seal required for validity of execution. Only a small portion of the notary seal is evident on the external DPOA. Can we accept?
Yes
Service team is providing inaccurate information to an IA. What should the next steps be?
Escalate case to service team or email the rep with the manager CC'd to reach back out.
Reach out to the IA directly if case/NIGO items are complex or extensive.
ASDPOA case: Unable to determine beneficiary powers. No associated cases. What should the next steps be?
1) Mark NO
2) Get a second look by someone on the team
3) Escalate for CST review
a) Mark NO, no additional review needed
NADPOA case: Agent signed new account application naming beneficiaries. The external DPOA does not allow the agent to designate beneficiates.
Name three alternatives we should be providing the IA/Client.
1) Open the account without the addition of beneficiaries. The current default succession in this order is: Spouse, Children and lastly to the estate.
2) Have Principal/Account Holder sign the application/beneficiary form; or
3) Mirror beneficiaries from contra firm
Can an IA be added utilizing a Schwab DPOA form?
No
Name two countries that are wider than the moon?
Australia & Russia
Notary's middle initial is provided in their signature, and middle initial was not included on the seal. Is this acceptable?
Yes
External DPOA uploaded with no clear instructions and no other documents provided. There's an FC on the client's account.
Next steps should be?
Reach out to the FC to confirm if DPOA was provided for archiving purposes, or if the client(s) are requesting the addition of DPOA to their account.
- If requesting DPOA, confirm if FC is working directly with client; or,
- If provide for archiving purposes, note case:
"Confirmed with FC DPOA was provided for archiving purposes. Terminating case as this is not a DPOA opportunity."
DPOA has expiration Date. Explain the process (3 steps)
1) Add expiration date to DPOA note template
2) If everything in IGO, complete case
3) Email Risk to add to their ticker.
NADPOA case has an associated Estates case. The agent is opening a new account on the beneficiary's behalf. AAA is missing the agent's phone number and page 3 of the external DPOA was not provided.
Who should we reach out to?
Note the ES case with the NIGO items needed to move forward. RS should be in direct communication with agent.
AS DPOA case: Unable to locate express delegation power. There are no associated cases.
What should the next steps be?
Mark delegation as NO and move on to next case.
What is the longest movie ever made
The Cure for Insomnia (clocking in at 85 hours)
When reviewing a DP case or NADPOA case, what items are NOT for our team to review and/or address with the IA/client?
Any items outside the scope of DPOA
Required information on AAA is missing. There's an FC on the account, and you notice the notary is also a CRS.
Who should you contact?
The CRS to correct/confirm information needed.
DPOA was added to an account utilizing a Schwab DPOA form 2 years ago.
New docs were submitted last week: AAA form and external DPOA, executed 4 years ago naming the same agent.
What should the next steps be?
Get clarification from the IA/client to why a Schwab DPOA form was used if there was an external DPOA.
EXCEPTION PROCESS FOR MIRRORING OVER BENEFICIARIES FROM CONTRA FIRM
1) Principal MUST be incapacitated as proven with a Physician's Letter.
2) Account registrations at Schwab and contra-firm MUST be the same.
3) Copy of contra firm beneficiary form signed by PRINCIPAL/ACCOUNT OWNER (electronic designations will not be accepted)
5) Schwab beneficiary form completed by agent MUST match contra-firm EXACTLY.
6) Schwab Transfer paperwork matching contra firm bene forms for the account to be transferred.
7) Exception process conducted by the Account Solutions team.
When would it be appropriate to have CST review a DPOA request for a Trust?
When you have already communicated with the IA that trust accounts are not eligible for DPOA. Depending on scenario or explanation, we may then submit for CST review.
*Should not be an automatic process to escalate to CST for DPOA being added to a trust account.
Name 3 out of 10 TOP Gallup traits someone has on our team
1.
2.
3.
After communicating with the client that conservatorship accounts are not eligible for DPOA, the branch reaches out with questions for next steps.
How should we respond?
"Reach out to the Account Solutions team for next steps. Specialty Estates primarily reviews and approves durable powers of attorney."
Retail DPOA case has several NIGO items.
1) A trust account number was provided on AAA
2) External DPOA is springing and LOI wasn't provided.
3) Two agents completed an Agreement and Affidavit form. However, one agent was named primary, the second agent named successor.
What would the best form of communication be?
Reach out to the agent(s) by phone. Too extensive for an email. Scenarios similar to this, clients tend to have questions and need detailed explanations.
You're helping a colleague with their basket while they're OOO.
What should you be reviewing if there is already a completed DPOA note template completed by your colleague?
The entire case start to finish. You are responsible for the review once completed
Reviewing a NADPOA case, you notice that the account was already opened prior to DPOA review.
What are next steps?
1) If DPOA is NIGO, send NADPOA case to account solutions to restrict account(s); or,
2) If DPOA is IGO, ok to process.
AS NADPOA case: Agent named beneficiaries and beneficiary powers were not granted. What three alternatives should we be providing?
1) Open the account without the addition of beneficiaries. The current default succession in this order is: Spouse, Children and lastly to the estate.
2) Have Principal/Account Holder sign the application/beneficiary form; or
3) Mirror beneficiaries from contra firm
Nearly all fossils are preserved in what type of rock
Sedimentary