ONB Intro
What is Onboarding?
Onboarding is the process of assisting new or existing Vanguard clients with opening accounts and moving assets to Vanguard.
What are at least 5 account types you can open through modernized OAA.
Individual
Joint (2 owner)
UTMA/UGMA
IRA (Trad / Roth / Rollover)
Cash Plus
If a client transfers funds from their employer plan to an IRA, what is this process called?
A direct rollover
What information about the client do you think you need to gather for a TOA?
Type of account, account registration, account number, account holdings, name of contra-firm
Can we consolidate Inherited IRA accounts?
Why might a client want to open an account and move assets to Vanguard?
List all the different ways that a client can open an account.
OAA Internal, OAA external, Intelledox, or paper forms
A rollover can also be considered indirect. What is the difference between a direct and indirect rollover?
An indirect rollover is processed as a distribution from the employer plan, so the check is payable to the client and not the other financial firm. The client has 60 calendar days to deposit the funds into their IRA (or another employer plan). An indirect rollover can also be processed from IRA to IRA (another or the same IRA) or from an IRA to an employer plan. (Please Note: The client can do only one indirect rollover from IRA to IRA in a rolling 365-day period.)
Transfer of Assets (TOA) for Advised Clients Revised
Bonus points
woot
What does SSO Stand for?
“SSO” stands “Specialty Services and Operations”.
What is CIP information? What are some of the things we need to require?
Client Identification Program. We need client identifying information, investment objectives, employment status, if they are an associated person or a control person.
What is the ASG resource should we use for Rollovers? What is the correct template for Rollovers.
External Rollover ASG Job Aid
What are the four types of transfers we contain in ASG?
ACAT, Non-ACAT, PTF, and DRS.
Will all institutions allow asset transfers between inherited IRAs?
Not all institutions may allow for inherited IRAs to be transferred because these asset transfers have only been allowed through Private Letter Rulings (as opposed to an IRS regulation).
List the tools we use in ONB calls.
CRAVE, BPM, FundAccess Tool, and FISD
What do we need if someone who is associated wants to open a new account?
Blanket Letter
What is the resource we can send to clients to ensure they ask all the right questions when they initiate a rollover with their employer firm?
Employer Plan Rollover Guide
Send the links to the two tools we use for TOAs.
FundAccess Tool
FISD
How many weeks pregnant is Abby?
34 Weeks
What is the name of the chatbot that can be used to help with ONB topics? Drop the link to download it. Quick you only have 30 seconds.
What account types need opened through Intelledox? Name at least 3.
Inherited IRA, Trust Account, Estate Account, Organizational Account.
What are additional considerations we need to take when we process rollovers? There are 4.
Name differences, Stock Holdings, Mid-Air Conversions, Direct Rollover by Wire.
DRS: Electronic transfer of book entry stock.
PTF: Electronic system used to only transfer mutual funds in kind.
What is Abby's pet peeve?
People not doing their job to the best of their ability!