After submitting an Joint Account Application, a ticket is created in the New Accounts pipeline. Use this guide to effectively track each stage, understand the workflow, and quickly address deficiencies.
How to Find an Joint Account Application Ticket:
You can find your submitted account application tickets in two places:
- The right-side panel under Tickets on Client's CRM Contact Record
- In the New Accounts Pipeline (CRM → Tickets → New Accounts Pipeline)
Joint Account Workflow and Pipeline Stages
Below is the typical workflow an Joint New Account Application ticket follows, outlining various stages of the process.
Stage: In Review
Action Item: Initial Draft
- Assigned to: Portfolio Manager
- What's happening: The APM and PM collect critical information required for a new account application such as KYC information, logging meeting notes, and assigning the portfolio model for the accounts.
- SLA: Same-day
- Next step: Moves to Initial Compliance Review action item upon confirmation
Action Item: Initial Compliance Review
- Assigned to: Compliance Team
- What's happening: In this action item, the Compliance team reviews all data entry on the ticket, ensuring information is valid.
- SLA: Same-day
- Next step: Moves to Pending AML and ID Verification Review action item upon verification
Action Item: Pending AML and ID Verification Review
- Assigned to: Compliance Team
- What's happening: With this action item, the Compliance analysts are reviewing and confirming that the ID verification and AML procedures has been completed for the client.
- SLA: Same-day
- Next step: Moves to Pending PM Review action item upon verification
Action Item: Pending PM Review
- Assigned to: Portfolio Manager
- What's happening: The PM performs a suitability review of the account and recommended model, logs supplementary notes if needed, and approves or updates the model before moving the ticket to the next action item.
- SLA: Same-day
- Next step: Moves to Pending Compliance Review action item upon verification
Action Item: Pending Compliance Review
- Assigned to: Compliance Team
- What's happening: In this action item, the Compliance team is responsible for performing their review of the KYC and suitability notes before onboarding documents can be sent to the client. If no deficiencies are noted the ticket moves to the "In Process" stage.
- SLA: Same-day
- Next step: Moves to In Process stage upon verification
Action Item: Deficient (Conditional)
- Assigned to: Wealth Planner or Portfolio Manager
- What's happening: In this action item, the Portfolio Manager or Wealth Planner will review the notes provided by the compliance department and the reasons for the deficiency and remedy the deficiency before the account can be reviewed by compliance and approved.
- SLA: Deficiency dependent
- Next step: Moves to Pending Paperwork action item upon amendment
Stage: In Process
Action Item: Pending Paperwork
- Assigned to: Onboarding Team
- What's happening: In this action item, the Onboarding Team is responsible for preparing the client’s onboarding package with the information provided on the ticket and sending the package to the client.
- SLA: 1 business day
- Next step: Moves to Sent To Client stage upon being sent
Action Item: Sent To Client
- Assigned to: Onboarding Team
- What's happening: In this action item, the Onboarding Team is responsible for monitoring the package that was sent for signature by the required parties. This action item is awaiting all parties signatures before moving forward.
- SLA: 2 business days
- Next step: Moves to Opening Account action item upon being signed
Action Item: Account Opening/Opening Account
- Assigned to: Onboarding Team
- What's happening: In this action item, the account opening paperwork is being reviewed by our custodial bank to ensure all documentation required is provided and documentation is in good standing and awaiting for the account to be opened. If "Opening account" action item, the account is being processed through NBIN's automatic account opening service. If "Account Opening" action item the account is being manually opened by NBIN.
- SLA: 1 business day
- Next step: Moves to Pending Compliance Review action item upon being opened
Action Item: Pending Compliance Review
- Assigned to: Compliance Team
- What's happening: In this action item, the Compliance Team is responsible for reviewing and storing the completed client Onboarding Documents. Review includes cross checking against internal documents and confirming appropriateness of model. Once complete the ticket moves forward to the complete stage.
- SLA: Same-day
- Next step: Moves to Complete stage upon verification
Action Item: Enhanced Compliance Review (Conditional)
- Assigned to: Compliance Team
- What's happening: To ensure strong compliance standards our team has in place are met, a certain percentage of tickets are marked for an enhanced compliance review.
- SLA: Same-day
- Next step: Moves to Complete stage upon verification
Action Item: Deficient (Conditional)
- Assigned to: Portfolio Manager/Associate Portfolio Manager
- What's happening: In this action item, the Portfolio Manager/Associate Portfolio Manager and the Onboarding Team will review the notes provided by the compliance department and the reasons for the deficiency and remedy the deficiency before the account can be reviewed by compliance and approved.
- SLA: Deficiency dependent
- Next-step: Moves back to Initial Compliance Review to be reviewed again
Action Item: Pending Signature (Conditional)
- Assigned to: Onboarding Team
- What's happening: This action item is specific for wet signed applications. During this, the onboarding team sends the client signed new account application documentation to the supervising Investment Advisor and Branch Manager for review and signatures. After signatures are received the ticket will have the "Account Opening" action item.
- SLA: 1 business day
- Next step: Moves to Account Opening stage upon being signed
Action Item: Amendments Required (Conditional)
- Assigned to: Onboarding Team
- What's happening: If this action item occurs, it will occur after the "Opening Account" action item. In this action item, the onboarding team will review any amendments noted by our custodial bank regarding our account opening documentation. The onboarding team will then determine if any amendments to the documentation are needed. If amendments are required the ticket will be tagged "Deficient", if not the ticket will be placed back in "Account Opening" action item waiting for the custodian to open the accounts.
- SLA: 1 business day
- Next steps: Moves to either Account Opening or Deficient stage upon amendment
Stage: Completed
- What's happening: Ticket is closed and finalized. No further action required.
Handling Deficient Joint New Account Application Requests
If the request is marked deficient, the ticket will clearly indicate why and how this deficiency can be addressed. Common deficiency reasons include:
- Information provided is incomplete (required panels are not complete)
- Banking panel does not match Void Cheque provided (inconsistency in information)
- Beneficiary panel is incomplete/inaccurate (missing beneficiary fields in panel)
- Identification provided is invalid (identification is expired or blurry)
- Requested by Wealth Planner (client information needs to be amended)
If the request was marked deficient, resolve the noted issue, then action the ticket forwards once resolved.