When completing a client packet, remember these below
tips:
* The client should be the one completing the
documents and you can advise them on how to complete.
* If using DocuSign, we will only accept authentication using Knowledge Base (KBA).
* Most sections if missed or entered incorrectly on the client packet will require the client's initial and date. Will specify below, if the section DOES NOT require an initial and date.
RELEASE OF INFORMATION PAGE (ROI):
The ROI provides authorization for Mutual to share investor account information with the RIA. The ROI must include all the information to be in good order. Any missing or incorrect information will require the client to amend the form. See checklist attached.
Non-Brokerage Account Application (NBA):
The NBA collects Know Your Customer and client suitability information for Mutual Securities. The NBA must include ALL information to be considered in good order. Some missing or incomplete information will require the client to amend the section with initials and dates. See below for tips when completing the NBA and the attached checklist.
* Enter the CRS Delivery Date (pages added into the client packet). This is the date the client received the Client Packet with the CRS Forms explaining the agreement between Mutual and the Client. This date is either on or before the client signature date. If missing, we can take as a response in the case. If the CRS date is AFTER the client signature date, we will need new signature and dates on the application. If the CRS date was entered incorrectly, this can be a response in the case with the update.
* Client SS# and DOB must be completed. If these
sections are not filled in, they will need to be initialed and dated by the client when
they are added.
- If the SSN is entered incorrectly, a W9 will need to be completed by the client.
- If the SSN is entered correctly, but comes up unverifiable on a CIP, a copy of the client's SS Card will be required.
- If the DOB/address comes up unverifiable on a CIP report, a copy of the client's current DL is required.
* Client physical address cannot be a PO. Box address. If the address is missing or incorrect, we will require a copy of the client's current DL or an initial and date on the application with the correction.
* UTMA/UGMA Accounts - Minor physical address is needed.
* 529 account, enter the beneficiaries name, SSN and DOB.
* Joint account, the entire secondary portion needs to be completed.
* Remember to enter the TIN # if applicable for the registration type.
* # of Dependents is required.
* Employment Status:
- Retired or Unemployed, we need
to know the former occupation of the client. Cannot be too broad. If a manager or owner. List where they worked. I.e. Manager of Deli Department. Associate at Fidelity.
· - Page
2 (Financial Profile) Current Source of Income, do not mark Salary if retired, homemaker or unemployed.
· - Homemaker, do not mark
salary. They can mark Spouse/Partner Salary or any other options that apply.
· * Every section on page 2 (suitability
information) needs to be completed. If there is a missing item, the client will
need to initial and date the change/update. However, the Trusted contact
section can be added without initials.
· - On Page 2, for the Investment Objective Ranking,
make sure there is only one #1 listed.
· * 529 plan: Owner needs to initial all four boxes on the Acknowledgements page.
The COBD provides authorization for Mutual and an employee of Mutual to become the BD and RR for the investor account. Some product
companies will not accept electronically signed Change of Broker Dealer forms;
those who do accept electronically signed documents from DocuSign require the
Knowledge Based Authentication (KBA) summary page to be submitted for
verification. Any missing or incorrect information will require the client to amend the form. The client signature date must be within 60 days of sending us the paperwork as the carriers will reject the signature date after that period. See attached checklist and KB article. https://evolve.mutual.group/portal/en/kb/articles/change-of-broker-dealer-and-or-representative-authorization
Limited Power of Attorney (LPOA):
The Limited Power of Attorney, often referred to as the
LPOA, is a form that authorizes Mutual Securities to receive instruction from
the Registered Investment Advisor (RIA) on behalf of the end investor. This form is optional, but if not completed
in good order, Mutual is not permitted to take instruction from the RIA. The LPOA must include all information below to be considered in good order. Any missing or information will require the client to amend the form with their initials and date. Mutual will not be able to accept instruction from the RIA until the form is received
in good order. See attached checklist and KB article. https://evolve.mutual.group/portal/en/kb/articles/lpoa-for-non-brokerage-accounts-form ·
When submitting the completed client packet via the Evolve Portal:
* Save the client packet as: Client Packet - Last Name, First Name – Registration Type
* Send the entire packet as one file - ROI, NBA, COBD, and the LPOA. If there are other supporting documents needed, please attach as well to the packet. Please see the below articles if you need additional information.
- If this is a 401K, please submit the 401k executed documents. 401K Account Paperwork Requirements
- If this is a Trust account, please complete all sections the Trustee Certification Form and attach the legal trust documents. Trust Account Documentation
- If this is a business account (Corporation, LLC, Partnership, Sole Proprietorship, and Non-Profit), please complete the Corporate/Non-Corporate Resolution Authorization Form. Corporate/Non-Corporate Resolution Authorization Form
- If the client has a POA on the account, please provide the POA’s signature with POA. I.e. John Doe POA. As well as adding the Durable Power of Attorney Affidavit and Indemnification Form, the supporting POA Legal Documents and a letter stating why there is a POA on the account.
*Power of Attorney – The Durable Power of Attorney Affidavit and Indemnification Form (DPOA), the supporting POA Legal Documents and a letter stating why the POA is in effect.
- The DPOA Form is needed to show that the POA is in effect and valid for the account.
- We need the Supporting Legal Documents to ensure that the POA can indeed act on behalf of the client and the specific roles they play in making decisions for the client.
- The letter is to state the reasoning why the client needs the POA. For example, the client may be incompetent, disabled, in the military or in any other state that they are unable to make their own decisions. Durable Power of Attorney Affidavit and Indemnification Form