Default Request: Client Withdrawal

Oct 17, 2023

The Client Withdrawal workflow is a four task process that is resolved once the withdrawal that was requested by the client has been confirmed, and all four tasks have been tagged as completed.

Team Roles required in Workflow: Advisor

Step 1:

First task is created, called "Evaluate Client Portfolio", and it is assigned to the Team Role: Advisor. It is expected the Advisor checks client's portfolio to ready the accounts for the withdrawal. This could include confirmation of withdrawal account and amount, decisions on possible trades, and confirmation of distribution method.

Task one is due one day after the Client Withdrawal request is created.

Step 2:

Second task is created, called "Initiate Raise Cash Activity", and is assigned to the Team Role: Advisor. Based on the request, the Advisor is expected to follow the needed steps to make sure the needed amount of cash is available to withdraw from the correct account(s).

Task two is due three days after the "Initiate Raise Cash Activity" task is created.

Step 3:

Third task is created, called "Initiate Withdrawal Request from Custodian", and it is assigned to the Team Role: Advisor. As needed, submit request to the Custodian for the withdrawal activity.

Task three is due three days after the "Initiate Withdrawal Request from Custodian" task is created.

Step 4:

Fourth task is created, called "Confirm Completion of the Client's Withdrawal Request", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to confirm the distribution has been completed. Once confirmed that all four tasks are completed, the Request status will update to Complete.

Task four is due five days after the "Confirm Completion of the Client's Withdrawal Request" task is created.

Here is a list of the default fields that are included in the Request, as well as they type of information that is needed in each field. It is possible, as a System Administrator, to customize these fields within all Requests, including updating the existing names, removing fields, or adding different fields.