Transfer remaining residual amounts to a client account from an outside broker
What is a Residual Transfer-In Sweep?
A residual sweep is the process of transferring any cash that remains in an account after the completion of the initial ACATS transfer. Residual sweeps are common when you have unsettled trades or dividend payments at the time the ACATS transfer request is received.
How to submit this Request:
First, find the client's CRM Contact Record page by searching contact name in the search bar.
From the client's contact record, start by navigating into the Servicing (Service Request) tab, which is found in the middle panel of the contact record. Select Account Administration.
From there, you can select Special Handling and proceed to specify the details of the request via the right sidebar pop-up.
Step 1.
- Select Residual Transfer-In Sweep
Step 2.
- Select the Receiving account.
Step 3.
- Enter the details:
- Relinquishing Institution
- Relinquishing account number
- Submit the Request
