The team has been hard at work configuring the platform to welcome our two newest members of the Broker-Dealer network, Securities America and Triad Advisors. There have been opportunities for system enhancements as we make progress on the Securities America implementation that we felt should go out sooner rather than later. We hope these updates create positive value for you and your practice.
Previously, this question read “Employee Account?” The question was confusing because people didn’t understand what it meant or the effect of the question if answered “Yes”. To make it clearer, the question and Help Text have been updated to more accurately reflect what it means and who is eligible to own an affiliated employee account.
You can find the updated question on the Account Details page under Other Account Details. NOTE: The Affiliated Employee Account question does not apply to Non-Brokerage/Direct Sponsor business.
Update: Employee Account Question
When a recommendation involves an investment that requires pre-approval there is new help text under ”Other Account Details. If the answer to the question is “Yes,” then additional steps are required outside of eQuipt to fully complete the new business in good order.
Update: Pre-Approval Help Text
To stay current with the latest and greatest Anti-Money Laundering best practices, we have added a new question to the Client Details module, under the Know Your Client question group, which asks if the client plans to send or receive third party funds or foreign funds for any account that the customer owns under your advisement. This applies to both brokerage and non-brokerage accounts and is only asked and collected once for new clients who are opening their first account using eQuipt.
The question and response are one of many inputs that factor into the customer’s overall risk score that the anti-money laundering department monitors. For most clients, the risk score will always be within acceptable ranges, and should a client’s risk score exceed the threshold, additional follow-ups may be made by the home office for clarification.
We are halfway through January and we’re just warming up! Stay tuned for new upgrades coming to eQuipt Client Portal and eQuipt for New Accounts.
The eQuipt Team
All the best,
Happy New Year!
Updates for 01.14.2022
eQuipt for New Accounts
With 2021 in the rearview mirror, we are now focused on the work we have ahead of us in 2022. This time last year, we began to create a solid foundation for eQuipt, which we continue to build on with this first release for eQuipt for New Accounts. These updates should create positive value for you and your business and help push the Securities America integration forward.
Account Details Enhancements
New! Anticipatory Activity
Anti-Money Laundering Support
When a fee-based proposal is created in eQuipt for New Accounts, the answers to the risk tolerance questionnaire are now viewable directly in the Wealth Management Platform. This is the first step to mirror the Statement of Investment Selection (SIS) generated in eQuipt to match the one generated in WMP, which will be delivered in a future release.
Risk Profile Answers in WMP
Wealth Management Platform (WMP) Integration
The team has been hard at work configuring the platform to welcome our two newest members of the Broker-Dealer network, Securities America and Triad Advisors. There have been opportunities for system enhancements as we make progress on the Securities America implementation that we felt should go out sooner rather than later. We hope these updates create positive value for you and your practice.
Previously, this question read “Employee Account?” The question was confusing because people didn’t understand what it meant or the effect of the question if answered “Yes”. To make it clearer, the question and Help Text have been updated to more accurately reflect what it means and who is eligible to own an affiliated employee account.
You can find the updated question on the Account Details page under Other Account Details. NOTE: The Affiliated Employee Account question does not apply to Non-Brokerage/Direct Sponsor business.
Update: Employee Account Question
When a recommendation involves an investment that requires pre-approval there is new help text under ”Other Account Details. If the answer to the question is “Yes,” then additional steps are required outside of eQuipt to fully complete the new business in good order.
Update: Pre-Approval Help Text
To stay current with the latest and greatest Anti-Money Laundering best practices, we have added a new question to the Client Details module, under the Know Your Client question group, which asks if the client plans to send or receive third party funds or foreign funds for any account that the customer owns under your advisement. This applies to both brokerage and non-brokerage accounts and is only asked and collected once for new clients who are opening their first account using eQuipt.
The question and response are one of many inputs that factor into the customer’s overall risk score that the anti-money laundering department monitors. For most clients, the risk score will always be within acceptable ranges, and should a client’s risk score exceed the threshold, additional follow-ups may be made by the home office for clarification.
Updates for 01.14.2022
eQuipt for New Accounts
With 2021 in the rearview mirror, we are now focused on the work we have ahead of us in 2022. This time last year, we began to create a solid foundation for eQuipt, which we continue to build on with this first release for eQuipt for New Accounts. These updates should create positive value for you and your business and help push the Securities America integration forward.
Account Details Enhancements
New! Anticipatory Activity
Anti-Money Laundering Support
When a fee-based proposal is created in eQuipt for New Accounts, the answers to the risk tolerance questionnaire are now viewable directly in the Wealth Management Platform. This is the first step to mirror the Statement of Investment Selection (SIS) generated in eQuipt to match the one generated in WMP, which will be delivered in a future release.
Risk Profile Answers in WMP
Wealth Management Platform (WMP) Integration
We are halfway through January and we’re just warming up! Stay tuned for new upgrades coming to eQuipt Client Portal and eQuipt for New Accounts.
The eQuipt Team
All the best,
Happy New Year!