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How to Modify a Systematic Withdrawal Plan (SWP)

Learn how to modify a Systematic Withdrawal Plan (SWP) to adjust withdrawal amounts, frequencies, or bank details for a client's Optimize Account.

Applies To: 

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

You can submit a Modify Plan request from a client’s CRM Contact Record to adjust the details of a recurring electronic withdrawal from a client's Optimize Account. Use the instructions below to ensure the SWP modification is processed correctly, the account remains eligible, the correct banking details are on file, and that you’ve accounted for any withdraw limits or special account-type requirements.

When to Submit a Modify Plan Request 

  • A client wants to change the withdrawal amount or frequency of their existing SWP.

  • A client needs to update the bank account associated with their SWP.

  • A client’s financial needs have changed, requiring an adjustment to their withdrawal schedule.

How to Submit a Systematic Withdrawal Plan Modification Request

To submit a systematic withdrawal plan request, you'll use the Service Extension on the client's CRM Contact Record. 

How to Submit a Modify Plan Request 

  1. Navigate to the Client's CRM Contact Record
  2. Go to the Servicing Tab
  3. Select Plans → Manage Plans

  4. Select "SWP" as your request type. 

  5. Select the Target Plan
    • (Only active plans will be displayed)

  6. Choose the modifications you want to make and update the details using the corresponding drop-down menus:
    • Frequency (Monthly / Quarterly / Semi - Annually / Annually)
    • Banking Details (All available banking details on file will be displayed for selection)   
    • Amount

     7. Review & Submit

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

Important: 

  • Payment modifications can only be submitted after the most recent withdrawal has been processed.
  • For example, if withdrawals are scheduled for the 1st of each month (e.g., October 1st, November 1st), you must wait until October 2nd to modify the November 1st payment - after the October payment has been processed.

After Submitting the Request

A new service request ticket will be created. You can locate it:

  • In the Right-Side Panel of the client's CRM Contact Record under Tickets.
  • In the Plans Pipeline, where you can track the progress and confirm when the request is completed.

Processing Times

  • Typically 3 business days after the ticket has been submitted and completed any applicable review.