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How to Submit a Add or Change RESP Beneficiary Request

Learn the process of designating beneficiaries for RESP accounts

Applies To: 

  • All Portfolio Managers, Advisors, Wealth Planners, and support staff.
  • Eligible account types: RESP

You can submit a Add or Change RESP Beneficiary request from a client’s CRM Contact Record. Use the instructions below to ensure the correct designation changes are made, any associated transactions are considered, and necessary authorizations are in place.

When to Submit a Add or Change RESP Beneficiary request:

  • A client wants to add or remove a beneficiary for their RESP.

  • A client wishes to change the allocation of RESP contributions among existing beneficiaries.

  • A client has experienced a life event that requires an update to their RESP beneficiary designation (e.g., birth of a child, change in family status, etc.).

How to Submit a Add or Change RESP Beneficiary Request

To submit a RESP Beneficiary Designation request, you'll use the Service Extension on the client's CRM Contact Record. When submitting the request, there are two distinct submission methods and workflows: Manual Submission, which involves upload a scanned or physically signed document, and Straight-Through Processing (STP), which automatically generates the required forms and sends it to the client through DocuSign.

Although both methods are valid, we strongly recommend using Straight Through Processing whenever possible for real-time tracking, reduced errors, and faster turnaround times.

Learn more about Straight-Through Processing.

How to Submit a Add or Change RESP Beneficiary Request using Manual Submission

Choose this method if your client has already completed and signed the required banking authorization forms.

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select Account Administration → Beneficiaries 

  4. Select "Add or Change RESP Beneficiary" as your request type.  
  5. Select the Target Account
  6. Select Manual Submission
  7. Upload Required Documents:
    • You'll need to attach a signed RESP Beneficiary Designation Form. To add an attachment, click +Add file and upload the file from your computer.

  8. Review & Submit 

    • Once you confirm the details, click Submit to create the service request ticket.

Tip: Ensure that the RESP Beneficiary Designation Form is signed and properly filled out to avoid processing delays or rejections.

Learn more about completing an RESP Beneficiary Designation Form.

How to Submit a Add or Change RESP Beneficiary using STP

With STP, Optimize automatically generates and emails the necessary forms to your client for electronic signing through DocuSign.

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select Account Administration → Beneficiaries

  4. Select "Add or Change RESP Beneficiary" as your request type
  5. Select the Target Account
  6. Select Straight-Through Processing
  7. Select the Designate Beneficiary (RESP) 
  8. Select "Add New Beneficiary" and enter the details: 
    • Beneficiary Change Type (Addition / Withdrawal)*
    • Subscriber Relationship with Beneficiary *
    • First Name* / Middle Name / Last Name*
    • Date of Birth / SIN / Gender*
    • Beneficiary Address
    • Request Grants* (Yes / No)
    • Is subscriber parent or legal guardian of beneficiary*
    • Is the subscriber the primary caregiver of beneficiary or their spouse*
  9. Review and Submit
  • Once you confirm the details, click Submit to create the service request ticket.

Please note: Once you submit the request, the ticket will be created and the client will be automatically sent the paperwork by DocuSign. The ticket cannot progress further until the client reviews the paperwork and electronically signs through DocuSign.

After Submitting the Request

Once the request has been submitted, a ticket will be created and associated with the client's contact record. You can view the associated ticket on the contact record's right sidebar under the ticket association card, and in the Account Administration ticket pipeline, where you can track the progress and confirm the request is complete.

Processing Times

  • Manual Submission: Processed within 1–2 business days.
  • Straight-Through Processing: Typically completed within 1 business day of receiving signed documents.