How to Submit a Update RESP Beneficiary Information Request

Applies To:

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

You can submit a RESP beneficiary information update 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 RESP Beneficiary Information Update request:

A client needs to update the personal details of an existing RESP beneficiary (e.g., name, date of birth, Social Insurance Number (SIN), or address).
A client has experienced a life event requiring an update to the beneficiary’s details (e.g., name change due to marriage or legal changes).
There is a discrepancy in the beneficiary’s information that needs correction.

How to Submit a RESP Beneficiary Information Update Request

To submit a RESP Beneficiary Information Update 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 Update RESP Beneficiary Information Request using Manual Submission

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

Navigate to the Client's CRM Contact Record
Go to the Servicing Tab
Select Account Administration → Beneficiaries
Select "Update RESP Beneficiary Information" as your request type
Select the Target Account
Select Manual Submission
Upload Required Documents:
- You'll need to attach a signed RESP Beneficiary Information Update Form. To add an attachment, click +Add file and upload the file from your computer.
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 Information Update Form.

How to Submit a Update RESP Beneficiary Information Request using STP

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

Navigate to the Client's CRM Contact Record
Go to the Servicing Tab
Select Account Administration → Beneficiaries
Select "Update RESP Beneficiary Information" as your request type
Select the Target Account
Select Straight-Through Processing
Enter the beneficiary details:
- If "Yes" is selected, no additional questions apply
- If "No" is selected enter the following details:
  - Do you want to change only the beneficiary address? Yes/No
  - Select the beneficiaries
  - Enter in the updated beneficiary(ies) address(es)
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 5 business days.
Straight-Through Processing: Typically completed within 1 business day of receiving signed documents.