1. Account Transfers
Beginners

2. 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

3. 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

4. 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.

5. 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.

6. 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.