Term Process
What does "E Code" mean?
What does NAER stand for?
New Account Existing Relationship
Name two reasons why we would need to re-register accounts.
Death Re-Reg, new custodian request, re-registering an account (joint to trust).
What is the 4th rule of portfolio management?
We could always be wrong!
What states does our GVP & AVP reside in?
WA & FL
What LOI do we need to have signed if the client wants to liquidate and terminate?
LOI to Liquidate - Termination
What is the account minimum we can manage?
$5,000
We are managing Michael Scott's IRA. Michael, unfortunately, passes away. His wife, Holly, wants us to continue to manage it in an IRA for her. She does not have any other active accounts with us. Do we need a full recommendation?
Yes.
HAPPY BIRTHDAY BULL MAREKT! How old are you?
3!
Name 3 animals Jordan own or has owned on his farm.
Pigs, chickens, dogs, bunnies.
If the client ACATs out and the IC saves the termination, what letter do we need to move the assets back and in what time frame?
Rescind Letter within 24 hours.
What is the West Coast cut off for submitting clearance?
9am PST
Who do you need approval from and who do you elevate to for a custodian change?
ICTL & COPTL, ~Custodian Change Request
What is our largest sector overweight?
Financials!
Alex & Kennadie both got married this year, ironically enough, in the same town! What was that town?
Hood River
If the client goes through the custodian to "de-link" us from the account, in what time frame can we pull our final fees?
We do not have access to pull fees. We will be sending the client an invoice.
Name the client facing person(s) that can take verbal instruction to initiate transfers.
ICs ONLY.
Name a re-registration situation that does not require a suitability submission.
Trick Q! They all do.
The government is shut down! Due to this, there haven't been any job reports or CPI data. Does this matter? Why or why not?
No, it doesn't necessarily matter. Those data points are past indicators. Stocks only care about the future!
Spell Amy's last name!
Devereux
What is an FI Resignation? Please provide at least one example.
Ex: Client gets a senior leadership role at a company that requires extensive trading clearance and restrictions.
Clients decided to bring on a joint account. They want to fund it with $1M in cash and 50k in securities. Currently, we only manage an IRA for them. What conversations need to happen before we can submit for clearance?
Recommendation with BOTH parties and a tax conversation about potential realized gains.
A client recently became incapacitated, and they have a POA stepping in. What FI documents does the POA need to sign?
All FI paperwork with the exception of the CCP.
Q3 Earnings were released, and it was indicating an 8% year over year growth. How many consecutive positive quarters have we seen for earnings growth?
9! :)
Spell Emily's last name!
Duerfeldt