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Introduction: This guide provides instructions on using the Direct app for Account opening.

Table of Contents


Table of Contents
excludeTable of Contents

 

Change Log:

Date

Changes

June 2021

Initial version.

Audience: Financial Professionals.

Functionality: This feature allows users to open a new Direct account using the Direct app.

Prerequisites

 

  • Core 23.4 and Connect 4.59.

  • Completed Mappings/Validations setup.

  • Forms

  • Configured Forms Matrix

 

Overview

 

The Direct app allows users to open a new Direct account to create a Work Item. It automates the process of creating a new account. This makes it faster and easier to complete the task. The Work Item contains a set of forms, for example:

  • Client Profile

  • Source of Funds

  • Entity Profile, etc.

 

Each site might have different required forms based on the configuration in Forms Matrix.

The RedTail and SmartOffice integrations can populate the Direct app.


Each page contains a set of predefined fields. The flow of the pages is configured based on the new account opening requirements accordingly. Both pages and fields can change dynamically, depending on the values selected – fields can be hidden, pages can be omitted or added, sequence of the pages can be different.

 

Creating a New Direct Account

Fill out the required fields of the pages. There is the example with the Registration type: DB-JOINT

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Open the app:

New > Starting Point (Figure 1) > Select Rep (Figure 2) > New Direct Account (or New Direct Advisory Account) (Figure 3)

 Note: If New Direct Advisory Account is selected, the Account Setup form contains the following predefined values:

  • Request type: New Direct Advisory Account

  • Product type: Advisory - Direct

Figure 1

Figure 2

Figure 3

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In the Account Setup page (Figure 4) fill out all fields and click NEXT.

Note: Vendor, Product Types, and Registration Types affect the selection of the forms and initiates different appearance of the pages.

Info

Info: Example below shows the page flow for the Registration type DB-401(K).

Page flow defined for the Registration type: DB-401(K):

  • Step 1: Account Setup.

  • Step 2: Entity Account Holder. Client Selection > Main Info > Legal Address > Mailing Address > Financial Information – Entity > Trusted Contacts Information

  • Step 3: Authorized Persons. Client Search > Authorized Person’s Info > Government ID > Legal Address > Mailing Address > Affiliations > Control Persons or Beneficial Owners

  • Step: Entity Account Characteristics. Account Investment Strategy > Investment Knowledge >

  • Step: Source of Funds.Main Info > Qualified Plan Distribution > Mutual Funds Families > Additional Information >

  • Step:Final Review

Figure 4

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The menu on the top shows the pages related to the Primary Account Holder in sequential order.

In the Primary AccountHolder’s page two options are available:

  • To find an existing client

  • Create a new one.

You can search for an existing client by the Last name (1) or by Social security number/taxpayer ID number (SSN/TIN) (2) (Figure 5).

 

Figure 5

A list with the search results is displayed in the Results section. Click the required client (1) (Figure 6). If you are not satisfied with the result, search again using the different search criteria (click SEARCH AGAIN) (2).

To create a new client, click CREATE NEW CLIENT (3).

To start again from the beginning click START OVER (4). The app displays the Account Setup page.

Note: In this case, all entered data are lost.

Figure 6

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The app displays the Main Info page. Fields with the selected client information are filled out. Make corrections and fill out the empty fields. In the Primary Account Holder’s Main Info page (Figure 7) fill out all fields and click NEXT.

Figure 7

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In the Primary Account Holder’s Government Issued ID page (Figure 8) fill out all fields and click NEXT.

Figure 8

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In the Primary Account Holder’s Legal Address page (Figure 9) fill out all fields and click NEXT.

 Note: If option Yes for Use the legal address for a mailing address? is selected, app displays the Authorized Persons’ page is.

 

Figure 9

If option No for Use the legal address for a mailing address? is selected, app displays the Primary Account Holder’s Mailing Address page (Figure 10).

Figure 10

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In the Primary Account Holder’s Employer Information and Affiliations page (Figure 11) fill out all fields and click NEXT.

 Note: Depending on the selection, app can show additional fields.

Figure 11

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 In the Primary Account Holder’s Financial Information page (Figure 12) fill out all fields and click NEXT.

 

Figure 12

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In the Primary Account Holder’s Trusted Contacts Information page (Figures 13 and 14) fill out all fields and click NEXT.

Note: If the No option for Add a Trusted Contact? is selected (Figure 13), click NEXT.

Figure 13

If the Yes option for Add a Trusted Contact? is selected (Figure 14), app displays additional fields for contact information.

Figure 14

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In the Authorized Person’s Client Search page (Figure 15) search for the client by the Last name or by Social security number/taxpayer ID number (SSN/TIN). A list with the search results is displayed in the Results section.

Click the required client or search again (click SEARCH AGAIN).

 To create a new client, click CREATE NEW CLIENT.

Figure 15

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In the Additional Account Holder page (Figure 16) fill out all fields and click NEXT.

 

Figure 16

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In the Additional Account Holder’s Government ID page (Figure 17) fill out all fields and click NEXT.

Figure 17

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In the Additional Account Holder’s Legal Address page (Figure 18) fill out all fields and click NEXT.

Notes: If Yes option for Use the legal address for a mailing address? is selected, app displays the Authorized Persons Affiliations page.

If No option for Use the legal address for a mailing address? is selected, app displays the Additional Account Holder’s Mailing Address page.

 

Figure 18

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In the Additional Account Holder’s Employer Information and Affiliations page (Figure 19) fill out all fields and click NEXT.

 Note: Depending on the selection, app can show additional fields.

Figure 19

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In the Financial Position - Additional Account Holder page (Figure 20) fill out all fields and click NEXT.

Figure 20

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In the Account Characteristics’ Account Investment Strategy page (Figure 21) fill out all fields and click NEXT.

Figure 21

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In the Account Characteristics’ Investment Knowledge page (Figure 22) fill out all fields and click NEXT.

Figure 22

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In the Source of Funds’ Main Info page (Figure 23) fill out all fields and click NEXT.

Info

Note: Reason for Transaction is required and must be less than 625 characters.

Figure 23

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In the Source of Funds’ Qualified Plan Distribution page (Figure 24) fill out all fields and click NEXT.

Info

Note: If Load Funds option is selected, app displays the Complete Mutual Funds Families page.

Figure 24

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In the Source of Funds’ Mutual Funds Families page (Figure 25) fill out all fields and click NEXT.

Figure 25

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In the Source of Funds’ Additional Information page (Figure 26) add the additional information if necessary and click NEXT.

Figure 26

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In the Final Review page (Figure 27) you can make the final changes to the displayed fields if necessary, then click I’M DONE.

Figure 27

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The app creates a Work Item (Figure 28).

Figure 28

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 app populates the information from Direct app to the forms (Figure 29).

Figure 29

Menu

There are two-level menus available – first-level and second-level menus.

  • First level menu

The first level menu shows the main steps of the Direct app. Completed steps are marked with the checkmark. The current step is emphasized with the green color.

 

  • Second level menu

The second level menu shows the pages related to the main step. Depending on the selections, different steps and pages are available.

If required fields in current or previous steps and pages are not filled out or contain wrong values, the menu shows the red marks with the number of incorrect field values at the appropriate steps and pages.

You must open all marked pages and make corrections.