Learn about In-Cash transfers and how to submit the request.
A Cash Transfer will move the funds in cash. If there is not enough cash to cover the transfer, the trading team will sell funds to cover the transfer amount. You will be able to specify the source of the funds in the request.
All In-Cash transfers that require a trade will be sold on Fridays, and processed after the trades have settled. For Optimize Private Opportunities (OPO) Funds, the settlement date is T+3
It is important to note that the receiving account may have a different model than the "from account". The funds will be reinvested according to the model assigned to the receiving account.
How to Submit the request for In-Cash transfers
Search for client contact in the HubSpot Search bar, open the client contact card, and find the client’s CRM Contact record page.
Start by navigating into the Servicing (Service Request) tab from the client's contact record, which is found in the middle panel of the contact record.
Then click on Cash and Security Management.
Step 1:
- Select Transfer or Third Party Transfer.
Step 2:
- Choose Cash Transfer.
Step 3:
- Select the from account
If a From Account is denoted as "cannot be processed" this means that there is no valid account that could receive funds that are transferred from that account.
Step 4:
- Select the To account
Step 5:
- Specify the Amount Type and Source of funds.
- Amount types: Full or Partial?
- Source of funds: Model or All?
Step 6:
- Review the request and confirm all the details.
- Enter the Dollar Amount to be transferred
- Press submit
If the request is a contribution from the client's non-registered account to a registered account. The contribution type (In-Kind or In-Cash) will automatically be calculated by our system which analyzes the accounts holdings, model, and cash balance to decide the most optimal contribution type.
- For more account-specific requests please read these articles.
Service Standards
Upon submission, the assets will be sold on the next available Friday, with settlement occurring four business days later. Then the transfer will be processed which takes 2 days
For transfers from relinquishing institutions, the processing time is usually 4-8 weeks.