Financial Planning
What is the name of the new tool that ICs have access to and can present to clients?
Money Guide Pro!
For one off withdrawals, what is the amount that triggers a CTV?
$25,000
Who do you elevate to if you believe that a client is participating in fraud or getting scammed?
CRT & ICTL
What sector are people fearing is a "bubble"?
Tech
Both Monte and Jordan have twins! Are they boy/boy, girl/girl, or boy/girl?
girl/girl!
A client has a trust they would like to update; how can our team help? What can they do vs what can they not do?
They can cover how they work, discuss considerations that align with client wishes, provide 3rd party referrals.
They cannot draft, review or provide templates.
How far in advance is cash raised for a periodic distribution? Does this need to be verified?
10 days and yes! It will populate on a CTV for verificaiton.
What are common scams that clients are falling for? Name 2.
Crypto, Romance, Investment, Lottery, Identity Theft, Elder Abuse, AI
If we anticipate that non-US is going to outperform, why don't we have a heavier weight to Europe?
We can always be wrong. We do not want to introduce risk of overconfidence.
How many WBTLs are from WA?
2
Please provide 3 examples of how ODC can assist our clients.
Tax-reduction strategies, Roth conversion analysis, estimating tax burdens, account sequencing, business tax planning, evaluation of capital gains impact, ESOP, RSUs, ISOs, 72t calculations
UBS has a default cash sweep money market fund (RMGXX) with an interest rate of 3.50% (subject to fluctuate). If the client wants to hold $50,000 IN CSUP with this default fund, do you need to submit an LOI to buy?
No. Because this is our default cash fund, you just simply need to move the cash into the cash sleeve.
What are the 3 characteristics of fraudulent communications?
Unexpected, Unsolicited, Asking you to do something (urgent)
Oh boy, tariffs! Are they going to increase inflation? Why or why not?
No. Inflation is impacted by the increase of money supply.
What office(s) did Amy pioneer?
WA
Who did we partner with to provide our clients with a complete Medicare guidance?
Chapter
What is the process for a full liquidation & termination with a distribution?
1. Verbal
2. LOI
3. Submit COP request for distribution
4. Submit termination for full liquidation
5. Submit cash and trade request for full liquidation
What platforms are most common for scams?
Facebook, Instagram, Snapchat, Whatsapp, eBay, Craigslist
Next year is Trump's second year in term. What percent of the time is the second year of a presidential cycle negative? Do you know the latest example of this?
40%. 2022.
What office(s) did Emily pioneer?
WA & FL
Clients can change their mind and stop taking social security. In what time frame do they have to inform the Social Security office? What are the consequences?
12 months of receiving benefits. You have to return the full amount you have already received.
If a client has $100k in long term margin and adds $30k to sell down the margin, what action needs to be taken?
The IC would be a CTV, verify the transaction and select "Yes" Under the Margin column. No additional actions required.
After a client confirms that they have been a victim of fraud, what resources do we provide them?
New account numbers and other custodial information, local authority contacts, FBI contact, Better Business Bureau contact, credit reporting and credit monitoring sites.
What is the relationship between a strong/weak dollar and the market?
None. The market is up either way.
How many total dogs do the TLs have? How many total cats?
10 dogs, 12 cats. Totaling 22!