Cash and Security Management
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      1. Optimize Help Center
      2. Service Requests
      3. Cash and Security Management

      Withdraw Funds - Submitting

      Submit a request to Withdraw Funds from a client's investment accounts via EFT to a bank account on file, directly from their CRM contact record.

      From the client's contact record, start by navigating into the Servicing tab, which is found in the middle panel of the contact record. Select Cash and Security Management.

      From there, you can select Withdraw Funds and proceed to specify the details of the request via the right sidebar pop-up. 

      Step 1:

      The first property you will be asked to specify is the Request Type. The four request types are:

      • Eft-Out
      • Withdraw to Investment Account 
      • Send Cheque to Address
      • Send Cheque to Third party

      Step 2:

      The second property you will be asked to specify is the From Account. 

      For Registered account withdrawals, you will be asked to select an Offset account

      Step 3:

      • If you select the request type EFT-Out in step 1, you will now be asked to specify the banking details. 
      • If you selected the request type Withdraw to Investment account in step 1, you will now be asked to select the to account. 

      Step 4:

      You will be prompted to specify: 

      • Amount Type: Is the withdrawal Full or Partial?
      • Source of funds: Are the funds from the assigned Optimize Model, or All?
      • If you selected Withdrawal to Investment Account In step 1, you will be asked to specify if you would like the transfer to be done In-Kind or In-Cash

      Step 5:

      The final step is to specify the amount. Once finished, press submit in the bottom right corner to submit your request. 

      Step 5 will look different If you are withdrawing from a registered account. Please refer to the appendices below that illustrate Step 5, for each registered account. 

      Step 5 (Registered Accounts):

      RRSP

      For RRSP withdrawals, you will be asked to specify Whether the Administrative fee will be included or excluded. 

      • Included: This will deduct the Admin fee from the Gross amount. Reducing the taxable amount.
      • Excluded: This will charge the Admin Fee to the account's cash balance, and will not affect the gross amount.

      RIF/LIF

      For RIF/LIF withdrawals you will be asked to specify the:

      • Gross Amount
      • Amount From Minimum
      • Whether the Minimum is Taxable or Non Taxable
      • You will also be able to add additional withholding tax if desired. 

      When making an ad hoc payment from a RIF/LIF account that is outside of the regular payments, the regular payments will be automatically paused. To re-initiate the payment, a 'Modify Plan' request must be submitted to re-initiate the plan.

      RESP

      For RESP withdrawals, you will be asked to specify:

      • The Beneficiary
      • Details about the school/institution
      • EAP and PSE amount
      • Proof of Enrollment attachment.

      Once you have completed and submitted the servicing request, you can click on the Ticket ID directly from the Confirmation Reference section to view and confirm the details of the new service request ticket.

      To learn how to monitor the tickets once they are submitted, please read Withdraw Funds - Pipeline and Actioning