Applies To:
- All Portfolio Managers, Wealth Planners/Advisors, and support staff.
- Eligible account types: RESP
You can submit a Update RESP Beneficiary Information request from a client's CRM Contact Record. Follow the instructions below to ensure the request is submitted correctly with all required documentation.
When to Submit a RESP Beneficiary Information Update request:
Submit a Update RESP Beneficiary Information request when you are looking to update existing beneficiaries information. Information that would be suitable to update using this request would be any name, SIN, gender, DOB, address, grant contribution distribution etc changes.How to Submit a RESP Beneficiary Information Update Request
To submit an Update RESP Beneficiary Information request, use the Service Tab on the client's CRM Contact Record. When submitting the request it will be done through two workflows: Wet Signature, which involves downloading the pre-populated document and getting it physically signed. Electronic Signature, which automatically generates the required forms and sends them to the client through DocuSign.Although both methods are valid, we strongly recommend using Electronic Signature whenever possible for real-time tracking, reduced errors, and faster turnaround times.
Learn more about Wet Signature Flexibility
How to Submit a Update RESP Beneficiary Information Request Through STP
- Navigate to the Client’s CRM Contact Record.
- Go to the Servicing Tab.
- Select Account Administration → Select Beneficiaries
- Choose Update RESP Beneficiary Information as the request type
- Select the RESP account for which the Update RESP Beneficiary Information applies to
- Select the appropriate submission option, either Wet Signature or Electronic Signature.
- Select the modify toggle for which existing beneficiary the desired beneficiary information change applies to
- Update the information as desired in the panel then select the next button once all information desired has been updated
- Review & Submit - Confirm all the details of the beneficiaries information and click Submit to create the service request ticket
Please note: After submitting your request, the system will automatically create a ticket and send the paperwork directly to your client via DocuSign for electronic signatures.
If you select the wet signature option, you'll need to download the pre-populated forms for your client to sign manually.
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 Account Administration Pipeline, where you can track the progress and confirm when the request is completed.
Processing Times
- Electronic Signature Submission: Typically 4 business days after the ticket has been submitted and completed any applicable review.
- Wet Signature Submission: Typically 10 business days after the ticket has been submitted and completed any applicable review.