Default Request: New Account Open

Oct 17, 2023

The New Account Open workflow is a five task process that is resolved once the account has been opened, your internal systems have been updated, and all five tasks have been tagged as completed.

Team Roles required in Workflow: Advisor

Step 1:

First task is created, called "Complete New Account Open Form", and it is assigned to the Team Role: Advisor. It is expected the Advisor fills out and completes the required new account forms based on the requested account and custodian. It is possible a client signature is required.

Task one is due one day after the New Account Open request is created.

Step 2:

Second task is created, called "Verify How Account will be Funded", and is assigned to the Team Role: Advisor. Since most accounts aren't fully opened until the account is funded, this task reminds advisors to confirm the type of funding, cash, check, transfer, etc.

Task two is due one day after the "Verify How Account will be Funded" task is created.

Step 3:

Third task is created, called "Review Forms and Submit for Internal Approval", and it is assigned to the Team Role: Advisor. This task is a double-check to make sure the needed forms and approvals have been completed.

Task three is due two days after the "Review Forms and Submit for Internal Approval" task is created.

Step 4:

Fourth task is created, called "Submit Forms to Custodian", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to send the completed paperwork to the custodian.

Task four is due three days after the "Submit Forms to Custodian" task is created.

Step 5:

Fifth task is created, called "Verify Account Has Been Opened and Update Internal Systems", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to confirm the account has been opened and funded, as well as update the CRM with the account information. Once confirmed that all five tasks are completed, the Request status will update to Complete.

Task five is due five days after the "Verify Account Has Been Opened and Update Internal Systems" 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.