Straight-Through Processing (STP)

Watch the video below to hear our team discuss how STP works behind the scenes and the many ways it will simplify your day-to-day servicing needs.

What is STP?

Straight-Through Processing (STP) is our end-to-end automation solution for service requests that traditionally require extra paperwork or wet signatures. The primary goal of STP is to reduce manual effort, minimize errors, and speed up processing times—ultimately providing advisors and clients with a smoother, faster experience.

By tapping into existing CRM data and dynamically selecting the right forms for each request, STP ensures you’re always using up-to-date templates and collecting the information you need at the right moment. This prevents rework or deficiencies caused by outdated forms or missing fields and lets you focus on serving your clients rather than chasing paperwork.

Different Methods of Providing Additional Paperwork

For every STP-compatible request, there are two distinct workflows. Manual Upload involves uploading a scanned or physically signed document, while Straight-Through Processingautomates form generation and e-signatures through DocuSign.

Manual Upload Workflow

• Attach a paper- or PDF-based form that’s been physically signed.
• Ideal if a client is uncomfortable with e-signatures or if you already have a wet-signed document in hand.
• Follows the same steps you’re used to—no changes have been made here.

Straight-Through Processing Workflow

• The CRM automatically fills in known client data.
• You supply any additional details or prompts specific to that request.
• The system dynamically chooses the correct forms and routes them via DocuSign for electronic signing.
• Real-time status updates let you see exactly who has signed and who’s pending, all within the CRM ticket.

Both workflows remain available—so you can pick the method that best suits each client’s needs. However, STP is generally faster, more accurate, and reduces back-and-forth.

Which Service Requests are Compatible with STP?

Below is a list of STP-compatible service requests, with links to individual articles containing step-by-step instructions. Each bullet point is accompanied by a link to a detailed article that provides instructions on how to submit a ticket through either the STP or manual process.

Cash and Security Management Requests

• Add Funds
  • Initiate a Transfer: Transfer funds from a relinquishing institution to a client's Optimize account.
• Third Party Transfer
  • Cash Transfer (Third Party): Move money in-cash between two third-party Optimize accounts.
  • Security Transfer (Third Party): Move money in-kind between two third-party Optimize accounts.

Account Administration Requests

• Banking
  • Add Banking: Authorize EFT deposits (in) or withdrawals (out) to and from a client’s bank account.
  • Modify Banking: Change details or authorization for an existing bank account associated with one or more Optimize accounts.
  • Delete Banking: Remove authorization for a previously linked bank account.
• Beneficiary
  • Designation and Change of Beneficiary: Add or modify beneficiary details for a registered account.
  • RESP Beneficiary Designation: Add or modify beneficiary details specifically for a RESP account.
  • RESP Beneficiary Information Update: Update the personal or contact information of an existing RESP beneficiary.
• Document Delivery
  • Third Party Online Access: Grant a designated third party the ability to view the client’s account information, statements, and tax slips through an online portal.
• Special Account Requests
  • Charitable Donation of Securities In-Kind: Donate securities in-kind to a designated charity.
  • Estate Processing: Formally transition a client's accounts into estate status, ensuring all necessary steps and documentation are completed for proper settlement.
  • Home Buyers' Plan: Allows clients to withdraw eligible funds from a RRSP or Spousal RSP to purchase or build a home, subject to repayment rules.
  • Lifelong Learning Plan: Withdraw funds from specific registered accounts to pay for full-time education or training, with required repayment terms.
  • Update Account Legislation: Applies changes to the legislative status or registration type of a Locked-In account.
  • 50% Unlocking (Alberta): Lets eligible Alberta-based clients unlock up to 50% of certain locked-in retirement accounts, under provincial guidelines.
  • 50% Unlocking (Non-Alberta): Permits clients in other regions to unlock up to 50% of applicable locked-in retirement accounts, following their respective jurisdiction’s rules.
    
    

• Updated Account Documentation
  • NBIN-261: Update the LOB Treaty Statement to ensure compliance with Canadian tax treaty provisions and to claim any applicable treaty benefits for non-individual Canadian residents.
  • W-8BEN: Update a W-8BEN to ensure compliance with U.S. tax withholding rules and to claim any applicable treaty benefits as a non-U.S. individual.
  • W-8BEN-E: Update a W-8BEN-E to ensure compliance with U.S. tax withholding regulations for non-U.S. entities, and to claim any applicable treaty benefits.
  • NR301: Update an NR301 to ensure that your Canadian non-resident withholding tax rate is correctly adjusted under a relevant tax treaty.
• Client Information Updates
  • Add/Update POA: Add or update a Power of Attorney so the authorized individual can act on the client's behalf with respect to their investment accounts.
  • Information Sharing Authorization: Grant or revoke permission for designated parties to receive account-related information for a client's investment account(s).
  • Marital Breakdown: Reflect changes to account ownership or beneficiary details following a marital breakdown.
  • Update Address: Update a client's residential and/or mailing address across all of their investment accounts on the custodian's book of record.
  • Update DOB: Update a client's date of birth across all of their investment accounts on the custodian's book of record.
  • Update Email: Update a client's email address across all of their investment accounts on the custodian's book of record.
  • Update Name: Update a client's legal name across all of their investment accounts on the custodian's book of record.
  • Update Phone Number: Update a client's phone number(s) across all of their investment accounts on the custodian's book of record.
  • Update SIN: Update a client's social insurance number across all of their investment accounts on the custodian's book of record.