Account and Client Restriction Codes
What is PAV restriction?
Patriot Act Verification (PAV)
Status Incomplete. Account is in process to verify customer's identity/background (anti-money laundering).
Schwab One account established by an adult for the benefit of a minor
Custodial account
It can be used to save money for a child's future in a flexible and self-directed manner, for passing gifts to a minor, and for teaching a minor about investing. Account contributions to Custodial Accounts are the irrevocable property of the minor.
Client comes in with a failed Voice ID, trusted phone, how do you verify them?
KBQs
Client has reached the termination age of their custodial account. What form do they fill out to acquire the account?
Schwab One Custodial Beneficiary Conversion Account Application
Client calls in wants to talk about their gains/loss on their account.
Broker
Client has undeliverable mail, what restriction is on the account?
M restriction
Account is manually restricted when mail is undeliverable or account has an out-of-date or incorrect address in the National Change of Address (NCOA) database.
Established for two or more persons. Each account holder can independently transact business account.
Joint Tenant
Client calls in with all confidential on their account, The account's transition date is May '24, Who do you transfer to
Green Core, TDA
Client wants to give full trading authority to their son-in-law. What form do they fill out?
Trading and Withdrawl Authorization
Client calls about charges on their Debit Card
Client Banking Services
What is a L restriction
Liquidations only
an easy and low-cost way to set up a retirement program for self-employed individuals and small businesses with 100 or fewer employees. Eligible employees can fund their own ------ accounts through regular salary deferrals and employers make additional contributions.
Simple IRA
Client has failed out of wallet, the closest branch is 200 miles away. What can they do to get back into their account?
LOA
Client has an IRA account, wants to pull some money, Age:58 years
Request an IRA distribution
Client calls inquiring about an outgoing wire
Move Money
What is legacy code: X
Account is closed manually. Reasons include:
a practical and flexible legal device established by one of more people or entities who transfer control of those assets to one or more people or entities who administer the _____ for the benefit of others
Trust
Client has 4 accounts and 2 different verbal passwords. How do you verify the client?
If the account has a verbal password, and the client has multiple accounts with verbal passwords, only the verbal password on the initial account is needed to be verified.
Use to open a new Trust account account or convert an existing managed account to a trust registration
Managed Account Services Account Application for Trusts Domiciled in the United States
Department in charge of adding or lifting Patriot Act restrictions
CVRC
Legacy Code: P
Account is restricted from real-time quotes, trading, transfers, and funding cash and securities.
Pending Docs
an independent 501(c)(3) public charity with a mission to increase giving in the U.S. by providing a simple, efficient and tax-smart giving solution to donors and their investment advisors. Our giving solution is a donor-advised fund account.
Schwab Charitable
An International Meta client calls in, how are you verifying them?
You can't, call SPS
Client calls looking to speak about their small businesses 401k
RS Small Business Warm Transfer