Maintenance
To name a person as a beneficiary on a Pershing or NFS account, what information is required for that person?
Beneficiary name, relationship, date of birth, and allocation
This type of retail account allows beneficiaries to overtake the assets upon the account owner's death, bypassing probate.
TOD (Transfer on Death)
The form used when a client needs to take a one-time withdrawal from their Pershing IRA.
IRA/ESA Distribution Request Form
A client forgot his password for NetXInvestor. Which team will help the client?
Tech Access Passwords
What is needed to change an NFS JTWROS account to JTIC?
Letter of Instruction (LOI) signed by all authorized signers
This type of individual retirement account allows an individual to deposit after-tax income. Individual tax payers are allowed to contribute up to a specified maximum dollar amount.
Roth IRA
How many sets of periodic contribution instructions can be active at one time on a Pershing IRA?
A client's SSN was entered wrong in CLIC, but the SSN is correct on the signed paperwork. No paperwork has been submitted yet for this client. Which department can fix this?
Data Integrity - New Account Maintenance
What paperwork is required to add a Power of Attorney to an existing Pershing Individual account?
1) Client Information and Suitability Form Additional Signers (NAFADD)
2) POA legal paperwork stating the Agent is authorized to act on behalf of the Principal
3) Pershing Affidavit of Power of Attorney (if court paperwork is older than 2 years)
This account type provides tax advantages when saving and paying for higher education. The account is set up under the adult custodian's SSN.
529 account
A client has an NFS Individual TOD account, and they are receiving monthly EFT withdrawals of $200. Is the client's signature required to increase the amount to $300 per month?
No
Which department reviews Annuity Disclosure forms?
Account Supervision
A client has passed away. What paperwork is required to transfer the assets in his NFS IRA to his wife's existing NFS IRA? She is his 100% primary beneficiary.
1) NFS IRA Transfer Request for Spouse Beneficiary (DRSP)
2) Copy of Certified Death Certificate
3) Best Interest Analysis (BIA)
What paperwork is required to change a commission account to a CAAP account?
Prefix Change Form, Wealthport WRAP Application, and IPS
This type of trust cannot be changed until the terms or purposes of the trust have been completed. The trust may not be changed by the trustee or the beneficiaries of the trust.
Irrevocable trust
A client wants to link her personal bank account to her Pershing Trust account. She is the only trustee, but she shares the bank account with her spouse. The link needs to work in both directions.
1) What paperwork is required to link the bank account?
2) Who needs to sign the paperwork?
1) ACH Authorization Agreement form and Bank Documentation
2) Signature of All Bank and Brokerage account owners
This team can help you with paperwork questions on a transfer task for NFS.
A client wants to consolidate all of his family's statements into one envelope each month because they are tired of getting so much mail every month from Pershing. What form do we need?
Pershing SelectLink/Combined Statement Mailing Form
This type of account is opened for groups of people who come together to perform some social good. Tax deductions are not provided to those who make donations or gifts to these groups.
Unincorporated Organization
On an NFS account, how many days in advance does a standing EFT link need to be established before a periodic investment plan begins?
7 days
Which department should an FP call if she has a question regarding direct deposit of her commission payments?
Accounting Compensation (Compensation Support)