Overview of Add Funds
Learn about the different types of add fund requests and how they support client contributions and investment activity.
What Are Add Funds Requests?
Add funds requests allow Advisors and Portfolio Managers to initiate contributions into client accounts from a variety of sources. These requests are essential for helping clients fund their investment accounts, take advantage of market opportunities, and stay on track with their financial goals. Each method provides a streamlined way to contribute based on client preferences and account setup.
To access and track add funds requests, navigate to the ticket index page in the CRM by selecting CRM > Tickets, then click the pipeline dropdown menu and select Add Funds.
Types of Add Funds Requests
- EFT In: Used to initiate an electronic funds transfer (EFT) from a client’s bank account on file. This is one of the most common methods for funding accounts and supports flexible contribution timing without requiring manual deposits.
- Contribute from Investment Account: This request moves funds from a related investment account into a registered or other eligible account. It is typically used to process internal contributions between client-owned accounts, such as contributing from a non-registered account into an RRSP or TFSA.
- Initiate a Transfer: Used to request the transfer of funds from an outside brokerage account. This can include transferring cash or securities and may involve submitting documentation to the relinquishing institution. This method is common when clients are moving assets from another firm into their current investment accounts.
Why Are Add Funds Requests Important?
These requests support the seamless and secure movement of funds into client accounts. Whether for regular contributions, one-time investments, or full account transfers, properly managing these requests ensures the client's intent is executed promptly and in line with regulatory and operational requirements.
Key Benefits of Managing Add Funds Requests:
Flexible Contribution Methods: Offers clients multiple ways to fund their accounts based on what works best for them.
Operational Efficiency: Streamlined processing through secure systems reduces manual work and delays.
Client Goal Support: Helps clients stay on track with investment, retirement, and savings goals.
Accurate Record-Keeping: Ensures each contribution is tracked and recorded correctly for tax and performance reporting.