The RMD Distribution workflow is a six task process that is resolved once the needed cash is raised, distribution is confirmed, and all six tasks have been tagged as completed.

Team Roles required in Workflow: Advisor

Step 1: 

First task is created, called "Confirm RMD Details", and it is assigned to the Team Role: Advisor. It is expected the Advisor checks client's request and distribution requirements to make sure all the needed information is included in the request.

• Task one is due one day after the RMD Distribution 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 need, the Advisor is expected to confirm whether there is enough cash for the distribution or begin the steps for liquidation of assets to raise enough cash for the distribution.

• Task two is due one day after the "Initiate Raise Cash Activity" task is created.

Step 3:

Third task is created, called "Send Trades For Approval", and it is assigned to the Team Role: Advisor. Based on internal processes, confirm needed approval for required liquidation trades.

• Task three is due one day after the "Send Trades For Approval" task is created.

Step 4:

Fourth task is created, called "Submit Trades for Execution", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to send the trades to the custodian and confirm settlement of the trades.

• Task four is due three days after the "Submit Trades for Execution" task is created.

Step 5:

Fifth task is created, called "Initiate Cash Distribution", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to distribute the funds based on the client's request.

• Task five is due seven days after the "Initiate Cash Distribution" task is created.

Step 6:

Sixth task is created, called "Confirm RMD is Complete", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to confirm the distribution has been completed and all needed systems are updated. Once confirmed that all five tasks are completed, the Request status will update to Complete.

• Task six is due ten days after the "Confirm RMD is Complete" 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.