Account Transfers Beginners

ACAT vs NON-ACAT ACAT: Automated Client Account Transfer No one touches them NON-ACAT: non-automated transfers Delivering firm receives the paperwork and processes them by hand

Understanding what is being transferred Review client’s statement to determine what is being transferred and how it should be transferred. Look at: Delivering firm Type of holding How is it being transferred In-kind Liquidating Partial

How to Complete Account Transfer form One you understand what is being transferred and how it should be transferred, it is time to complete the Account Transfer form. Refer to Account Transfers Packet for step by step instructions on completing the form and initiating the transfer in Netx360.

Following up on Transfers There are two places to check the status of transfers: IFA Screen in Client’s account Work Status screen Common Transfer Status levels Pending Paperwork: The paperwork has not been received and/or linked to the transfer request Released/Request: Pershing has reviewed the transfer paperwork and released the request to the delivering company Settling: Pershing has received the assets and they are being posted to the account Completed: the assets have been received and posted to the account. Rejected: The transfer won’t happen.

Transfer Approval Process When an account transfer is entered in Netx360, it enters our work basket in Work Corner. The transfer request is opened and reviewed along with the paperwork that was submitted for the transfer. If there are any issues, the rep’s office is contacted to discuss what is needed to get the request in good order. If there aren’t any issues, the paperwork is ‘attached’ to the request in the system and approved. It then goes to Pershing’s transfer department for review.