New Accounts
Approximately 3 business days
What is the entity account opening timeframe?
Trade date plus one business day (i.e. T + 1)
What is the settlement time for and Equity/ETF or Mutual Fund?
Used to calculate the RMD for age based distributions?
What is the Fair Market Value?
When you move a prior year or current year contribution from your Traditional IRA or Roth IRA to an alternate IRA type
What is a recharacterization?
ROLL(direct) ROLLD(Indirect) TFRR (Journal/ACAT)
What is the correct coding for Direct Rollovers, 60 day rollovers and Transfers?
Search for ECI of client, select new account, input the ITK-GBL number minus the .1 ect and type of account.
What is: How to log a New Account call in Service Desktop?
FSWM R01125A / SDI R01767A
What is Order Exceeds ADV?
$7,000 or $8,000 Additional Catch up for 50+
What are Contribution limits for IRAs?
A contribution that was over the allowed amount or deposited other ineligible funds that need to be removed from the IRA
What is a return of excess?
A movement of money/assets from a Brokerage to Managed account is considered this.
What is a Transfer?
To add a POA to a trust at onboarding we will add the Durable POA and Certification of agent within the documents.
What is the process for adding POA to a Trust Account?
They must be entered as limit or stop-limit orders and will queue until next market open
What are all Stock and ETF market and stop purchase orders submitted between 4 p.m. ET and 6:15 a.m. ET ?
Does not require the Tax ID of the Charity
What is not required to process a QCD?
Convert a Traditional IRA to a Roth IRA
What is a Roth Conversion?
Initiate Request >> Check Inquiries >> DOL/BIC Restriction
What is the pathway to let Cashiers know that a Attestation has been completed for a check deposit.
Advisor should select ERISA
What is the type of retirement option that must be selected in the proposal for a QPIA?
A program offered by mutual fund companies that enables shareholders to receive a discount on the purchase of Class A shares
What are Rights of Accumulation (ROA)?
Can request trades and obtain account information
What is limited Trading Authority?
When you need to change a current year to prior year contribution
What is recoding a contribution?
1 Rollover or Transfer Attestation per account
What is the amount of attestations an advisor will need when when opening a managed and brokerage IRA?
ECI of the QPIA
ECI of the existing business
ECI of the person acting as trustee
What are the ECIS are required to create a QPIA?
What are permissible commission/transaction fee adjustment reasons?
DOUBLE JEOPARDY
Check is re-issued for the net amount only
What is the Stopped Check Process for an IRA?
Client provided a letter from a contra firm stating that the client was overpaid, client submits via SMC,
Digital Service Center will enter payment in Money Transfer coding it as
What is the process to reclaim funds?
A client can process a Direct Rollover to move a 401k to a Trad. IRA.
Can a client Roll a Traditional IRA into a 401-K?