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Opening New Accounts

Learn about the different account ownership structures at Optimize, and how each structure impacts the requirements for submitting and completing new account applications.

Opening a new client account at Optimize begins by submitting a New Account Application directly from the client’s CRM Contact Record. The application leverages existing information stored in the CRM to streamline the onboarding experience, dynamically generating forms based on the account’s ownership structure, account types, and client-specific details.

Once the application details are completed, required paperwork is automatically generated and sent to clients through DocuSign, with all key information pre-filled based on the inputs provided during the application. This automated workflow significantly reduces manual effort, decreases the potential for error, and ensures documents reflect the specific requirements based on ownership structure and account types.


Account Ownership Structures

The ownership structure selected for an account determines the specific requirements and steps involved in completing the application process. Each structure supports different account types, with unique documentation and information requirements. The three main ownership structures are:

  • Individually Held Personal Accounts: Single-person accounts such as RRSP, TFSA, FHSA, and non-registered Cash accounts.
  • Jointly Held Accounts: Personal accounts owned jointly by two or more individuals. Typical examples include Joint Cash accounts, RESPs, and RDSPs.
  • Entity Accounts: Accounts held by legal entities such as corporations, partnerships, trusts, and charitable organizations. These accounts typically involve more detailed documentation related to entity structure, beneficial ownership, and tax reporting requirements.

How to Submit a New Account Application

To begin opening a new account, you will submit a service request directly from the client's CRM Contact Record. The detailed submission and completion steps depend on the ownership structure of the account:

  • Opening Individually Held Personal Accounts
  • Opening Jointly Held Accounts
  • Opening Entity-Held Accounts

These articles provide step-by-step instructions tailored to the specific ownership structure, including required documentation, information panels, and any unique application components.

Understanding the Application Process

After submitting an application, the CRM creates a ticket associated with the client. Each application must be fully completed and reviewed, with statuses updated throughout various pipeline stages. Learn more about the New Account Application Process, including who reviews and actions applications, processing timelines, and how to track your submissions.