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Introduction. This document provides information about the process of the New Account Opening (NAO) from Docupace Start. |
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Change Log:
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February 2021 | Comprehensive documentation about the process of New Account Opening (NAO). |
Audience: Financial Professionals and Account Managers.
Prerequisites for New Account Opening
Core 23.4 and Connect 4.59.
Completed Pershing Specific Registration Types configuration.
Completed Mappings/Validations setup.
Pershing Registrations
After selecting Pershing as the vendor on the Account Setup screen, you can select one of the following registration types:
Corporation - C Corp
Corporation - S Corp
Investment Club
Limited Liability Corporation / Individual Single Member LLC
Noncorporate / Noncorporate (Unincorporated) Association
Nonprofit Organization
Partnership
SP- Sole Proprietorship
Estate – Administrator
Estate – Executor
Estate – Executrix
Estate - Personal Representative
Estate - Special Administrator
Estate - Temporary Administrator
Custodial – UGMA
Custodial – UTMA
Roth Conversion IRA – Guardian
Roth Conversion IRA – Participant
Roth Conversion IRA – Spousal
Conservatorship
Guardianship
Note: Some sites use variations for these registration types. For example:
“Custodial – UGMA” and “UMGA”
“Nonprofit Organization” and “Nonprofit Corporation”
“Corporation - C Corp” and “C Corporation”
Setting up a new account
Filling Out Forms
The Pershing NAO widget fills in the Pershing New Account Agreement form for the registration types listed above. For some types of IRA (depending on the customer), the widget also fills in the Traditional IRA Adoption Agreement form.
After the Final Review Process, the widget automatically adds required forms to the created work item.
After work item creation user must add optional forms manually.
Note: app adds required forms to a work itemWork Item, depending on the Forms Matrix configuration.
The form validates information that Pershing requires. After you complete the new account opening form for Pershing, the work item follows the same workflow path as other work items related to client activity.
This includes:
Checking for recommended internal form validations
Checking for internal validations required to complete transactions
Printing and wet signing
Sending for eSign (if eligible)
Workflow queues
Work item review process
New Account Agreement