Overview of Transfers
Learn about the different types of transfer requests and how they support the movement of cash and securities between investment accounts.
What Are Transfer Requests?
Transfer requests allow Advisors and Portfolio Managers to move cash or securities between investment accounts, either within a client’s household or to a third party. These requests are essential for account restructuring, rebalancing, estate planning, or fulfilling distribution instructions. Transfers can be processed in-cash or in-kind depending on the account type, client preferences, and the nature of the assets.
To access and track transfer requests, navigate to the ticket index page in the CRM by selecting CRM > Tickets, then click the pipeline dropdown menu and select Transfers
Types of Transfer Requests
- Cash Transfer: Used to transfer funds between related investment accounts in-cash. This is commonly used for rebalancing, funding registered accounts, or consolidating cash into a single account for investment purposes.
- Securities Transfer: This request moves securities between related investment accounts in-kind. It preserves the investment’s position, cost base, and market exposure without liquidating the asset.
- Cash Transfer (Third Party): Used to transfer funds in-cash between unrelated client accounts, such as for estate distributions, gifts, or legal settlements. Proper authorization is required before processing.
- Security Transfer (Third Party): This request transfers securities in-kind to a third party account. It is typically used when clients are distributing securities to beneficiaries, gifting assets, or moving holdings out of a personal account under special circumstances.
Why Are Transfer Requests Important?
Transfers support client goals such as tax planning, reallocation, gifting, and account simplification. Managing these requests properly ensures compliance with client instructions, regulatory standards, and firm-level controls.
Key Benefits of Managing Transfer Requests:
Flexibility in Account Management: Allows clients to adjust their investment structure without needing to redeem assets.
Tax and Estate Planning Support: Enables in-kind movements to preserve cost base and support gifting or beneficiary transfers.
Efficient Asset Allocation: Simplifies the rebalancing process and ensures timely realignment of portfolios.
Accurate Record-Keeping: Maintains consistent transaction history across all accounts involved.