Scavenger Hunt
005-280811- If the client call in to withdraw 2k what are your steps
Confirm IBP instructions; reason; FA; check for any red flags; get to trader
What is a qualified account vs. a non-qualified account?
Qualified accounts meet IRS rules for tax benefits (e.g., 401(k)), while non-qualified accounts do not.
The first place to search when you're unsure
OneNote
If a family member calls in to report clients passing what information/docs should you request?
Death cert., ask if there are court documents they've obtained, full name and phone number of the best point of contact. Sent in a service request to add a U1 and send information to appropriate party
005-711734- What are the YTD distributions (withdraws) in this account
$50,897.42
Define a dividend vs interest
Dividend is a portion of company earnings paid to shareholders (equity/ownership)
Interest is the cost of borrowing money or the rate paid on a deposit to an investor (debt/"lending" return)
If a client mentions that they are unhappy with their account performance, who should you reach out to?
The clients financial advisor. If the account is M7V (no specific FA assigned), offer to have an FA reach out for an account review and send a referral to ISC
If a joint holder passes away, can the other joint holder withdraw funds? Can you provide them any account information?
We cannot process withdraws on an account with a deceased owner. You can provide any information as you normally would to the surviving joint owner
005-575207- Client is wding 3k and you ask if she would like to w/h taxes. She replied "oh, I'm not sure how much is required?" What should you respond with?
Define a beneficiary vs estate
A beneficiary is the recipient of financial assets (more individualized per account)
An estate is the total property, both real and personal, that a person owns. (More broad and includes all assets)
How many times can you put a client on hold
As many times as you need, to provide an accurate answer :)
Who handles decedent processing/ is the point of contact for an M7V account?
The estate team PNCIISGEstateServicing@pnc.com.
005-548843- Client is calling requesting a statement for their annuity. What should you tell them?
What is a fiduciary account?
A fiduciary account is managed by someone legally obligated to act in the best interest of the account holder. (i.e Trust, UTMA, Estate)
If a client calls in referencing a previous conversation with an ISG rep or their FA what should you do/ say?
You should get a much detail as you can, place client on hold and check edge notes to see what was previously discussed. Or reach out to FA if it was a convo had with them
Who handles estate processing for an account with a listed FA?
The FA
005-233363- Client received her October statement showing a decrease in her account value and is concerned she's losing money. What should you tell her?
This is a structured product which is linked to the performance of an underlying asset. If they still dont understand (or you dont) call over to advanced trade to either explain to you or to the client. Also recommend speaking with FA
Define Yield
The annual return generated by an investment, such as interest or dividends.
What should be included in a question sent in big chat?
account number or ssn, who you're on the phone with, relevant conversation you've had so far and your question. If you dont understand the answer ask for clarification
What is a date of death valuation?
A full listing of the assets held in the PNCI Brokerage Account on the date of death and the value on that day.