Answer: By virtue of the fact that an Advisor is no longer a registered representative, they are no longer able to directly service the accounts. Either the end investor would need to contact the product company directly or the Advisors can submit a request through the Evolve Client Portal and the Mutual Evolve team can assist the advisor by providing the appropriate paperwork.
Answer: Clients can call the product companies directly or they can go to their Advisor. If it requires action by the Mutual Evolve team, the Advisor can submit a request through Evolve Client Portal. We encourage Advisors to become interested parties where possible in order to receive copies of account statements without needing to come to Mutual.
Answer: By virtue of the fact that an Advisor is no longer a registered representative, that Advisor is not authorized to transact on behalf of the client without the client’s permission. In order to obtain the client’s permission, Mutual has made a Limited Power of Attorney (“LPOA”) form available which clients can sign and that would authorize an Advisor to trade/rebalance the holdings within a client account. The LPOA is provided for each new client account. Additionally, a blank copy of the LPOA form can be located in the Knowledge Base (“KB”) section of the Evolve Client Portal.
Without the LPOA, the client would need to contact the company directly or with the Advisor on the phone with the client.
Answer: Contributions to an existing account need to be made by the client, leveraging company-specific forms. All contribution checks should be made payable to the product company and sent directly to the product company by the client.
The preferred method is for distributions to be made directly by the client through the company. Alternatively, for clients who have granted LPOA authorization to an Advisor, Advisors can submit certain first-party disbursement requests on behalf of clients directly to the Mutual Evolve team through the Evolve Client Portal for processing.
Answer: Clients should be encouraged to contact the product
company directly to initiate the withdrawal of their monies from a variable
policy since these are typically more complex transactions. Alternatively, a
client may contact their Advisor, who in turn can submit a request to the Evolve
Client Portal to obtain the appropriate forms necessary for the client to
complete and submit. Please do not direct the client to contact Mutual
directly. Should a client decide to contact the Mutual Evolve team, we won’t
provide financial advice or guidance and we will direct them to speak with
their Advisor or with a representative at the product company for more detailed
assistance.
Within Service Scope
§ Evolve-Related Paperwork Processing
§ Evolve Client Portal Service Requests
§ Evolve Hotline Service Requests
§ Information Related to RMDs and Annuitization (By Request)
Outside Service Scope
§ Large Volume Data Requests
o All Statements for All Accounts
o RMD Values for All Eligible Accounts1
§ Providing Advice to End Investors
§ Ensuring End Investors Take or Satisfy their RMDs
§ Ensuring End Investors Respond to Annuitization Notices2
1Mutual will still attempt to have these completed by October 1st for all groups as a separate project.
2End
investors are receiving correspondence directly from the product companies.
When possible, advisors should be established as interested parties on their
end investors accounts.
Answer: The below timeframes are
estimates based on a typical caseload on an average day but are designed to set
appropriate expectations regarding response times. Mutual makes every attempt
to triage cases based on a number of factors. However, if a case is taking
longer than the ideal timeframe estimated below, please work with the Evolve service
team to help prioritize a solution.
Category | Timeframe for Resolution |
Statement or Information Request | 2-3 business days for 1-5 statements in a single request 7-10 business days for more than 5 statements (based on one request per product company |
Account Maintenance | 2-3 business days |
Transaction or Money Movement Request | Same day if received by 11am PT, otherwise, next business day |
Orion Inquiry | Response within 2-3 business days but resolution depends on the issue |
Orion Account Linking- Existing Product Company | 5-7 business days |
Orion Account Linking – New Product Company | 4-6 weeks |
DST Vision Inquiries | 4-5 business days |
Evolve Portal Inquiries | 24-48 hours |