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title: Onboarding Clients description: [AFW S.13] They said "Yes". Now what do I do? From paperwork to procedures to compliance. published: true date: 2026-06-30T08:08:07.223Z tags: editor: markdown dateCreated: 2021-04-20T07:56:01.024Z

Notes on Onboarding Your Clients

Read Nick's ATY 274 October 01 - Onboarding PDF

Read Nick's ATY 286 October 13 - Onboarding As Inoculation PDF


Compliance: Do's and Don't's


Tabs

DO

  • Ensure that client/s review all forms and understands the information provided.

  • When opening trust accounts a complete copy of the trust agreement or a trustee certification form are required. Declaration of trust is not acceptable.

  • New accounts should only be submitted once investment allocation is determined and must be accompanied with sponsor/carrier paperwork.  

  • Client must be allowed to review forms unencumbered and without amendments by representatives (i.e. clients must review all IPLLC and Third Party Documents in its original form).

  • Clients must complete forms with accurate information.

  • Enter all identifying information required for the account opening on the IPLLC account form and respective third party account forms. Ensure that the client signs and initial the required sections.

  • Complete the IPLLC Suitability form for all new business (This does not include change of Agent/BD). Ensure that the client signs, initials and dates the required sections.

  • Provide third party client materials (ie. insurance companies, mutual fund companies and financial institutions)  to your client. This includes all account forms/applications, customer disclosures,  and brochures, prospectus etc.  to your client. Representatives are required to prepare all documents required for a sale before meeting with a client.

  • Use only approved third party (insurance companies, mutual fund companies, custodian and financial institutions) applications and other documents for each client. Do not copy previously signed blank documents for re-use with clients.

  • IPLLC must have a dually signed agreement with third parties before representatives are allowed to conduct business with any third party. Representatives are prohibited from soliciting and selling products without the proper broker Dealer RIA agreements in place. Please check with the compliance department for any state, federal or other exemptions if applicable for the conduct of business.

  • Deliver product information to client as stipulated by the product provider.

  • Disclose all surrender charges, fees, or related costs to the transaction/s.

  • Contact the IPLLC new business department regarding allowances by third party providers, where correction or changes to existing documents are concerned.

  • Liquidation: do request the required paperwork from third party insurance companies for liquidations requested by customers and request an email for support of the request. This is critical in preventing any miscommunication where customer investment liquidations are concerned.


DON'T

  • Don't amend the static information on IPLLC forms or approved third-party forms. Do not strike through the hard coded information or change any information on any IPLLC or approved third party documents.

  • Don’t send client account applications directly to any insurance carrier, mutual fund company or other institution. Please remember principal review/approval is required for change of B/D’s, new business, liquidations, address changes, etc.

  • Don’t alter third party or firm documents for use with clients.

  • Don’t overstate or understate the clients income, net worth, liquid assets, tax bracket, investment experience or risk tolerance.

  • Don’t copy and paste client signature to any document. The client must complete and sign a new and current copy of any required document.

  • Don’t send only signature pages to clients for the processing of business documents. Ensure that the client receives all pages pertaining to the product, application, third party disclosures, prospectuses etc.  for full disclosure regarding the information requiring signature.

  • Don’t add information to any document after the client has signed and dated the document. The client must be made aware of any additional requirements. The client must be provided with a new form for completion (as required). The client must then make the changes then sign and date accordingly.

  • Don’t sign for or on behalf of any client (affix client signatures).

  • Don’t guarantee returns, tell clients that investment are risk free, exaggerate the benefits of any product nor provide any misleading information in the delivery of services. 

  • Don’t allow customers to sign blank forms (do not send blank documents to customers for signature).


Processing Paperwork & Applications

Watch the video Client Onboarding Pt 2 - Docusign (2023-09) VIDEO

Watch AF MKOM 1660 - Gathering Client Data VIDEO

Here is a folder of mock-up / sample applications provided by IP for you reference. Google Drive Folder

Here is the IP Paperwork Matrix that lists the required IP forms for each type of applicaiton. PDF

  • AFG's IP branch #: 24231
  • AFG's IP branch/home address: 5950 FAIRVIEW ROAD, SUITE 140, CHARLOTTE, NC 28210


Step-by-Step Outline

All B/D accounts require that you provide your client with three documents at the time of sale, or prior: 1) Form CRS; 2) Reg BI Brochure; 3) the prospectus of the investment.

  1. Use your Client Worksheet (CDC) to capture your client's data.

  2. Create your Envelope in DocuSign using our templates. Add any additional documents you need, such as copy of driver license.

    1. Go to Home. Click the drop-down on the Start Now yellow button. Click Upload and select use a template.

    2. Always select the [S-IP0] Base App template FIRST.

    3. Then select all the other templates you want buy clicking the checkboxes.

    4. Click Next then you can see the order the documents are in and make any changes if needed. Click Next again.

    5. On this screen you can verify that the signing order is set-up correctly:

      1. You (the Data Entry Person) are the 1st "signee", though you won't be signing at this stage.

      2. Your client is the 2nd signer, and if there is second client on the app then they are the 3rd signer. If there isn't a 2nd client then delete this signor.

      3. The 3rd (or 4th) signer is the Advisor (you), and all of the Advisor signature fields are assigned to you here. The reason for this sequence is that you have to sign after the client does.

      4. The 4th (or 5th) signer is IP New Business, but they don't sign the app, they just get the completed envelope in order to process it.

  3. Send the Docusign envelope. It will immediately come back to you, since you are the first signer (the Data Entry Person).

  4. Now, copy-n-paste the data from your Client's Worksheet into DocuSign. Master the keyboard shortcuts copy (ctrl+c), paste (ctrl+v) and window switching (alt+tab).

  5. Click Finish and the envelope will be sent to your client.

  6. After your client signs it, it will be sent back to you and now you sign it (acting as the Advisor).

  7. It will then automatically sent to IP New Business. They will review it and if it is in-good-order (IGO) they will forward it to the fund family. If it is not in good order (NIGO) they will send an email detailing the issues.

  8. To make sure IP New Business recieved your DocuSign you can:

    1. Check the history of the completed DocuSign document.

    2. Check IP CRM Portal.


The ICAS system and our internal team maintains the blotter for you and your team. We can automatically generate your blotter on request if any audits arise. Thus, you can use the system as is as a quasi-blotter and you don't need to do anything else at this point. -IP Management


Tips on Paperwork

You must process two sets of forms: 1) IP Securities application, and 2) Fund family forms. But they will be combined into one DocuSign agreement.

Use the Forms Calculator to get the list of the custom Docusign templates you need for your client's situation.

For more tips on Urgency, How to Be Swift & Efficient visit Epiphany #21: Follow the Money Like a Pitbull.

  • If the client's address is different than on his/her driver's license then you need to include two proofs-of-address, such as an electric bill, phone bill, internet bill, gas bill, mortgage invoice, rent etc.

  • Never leave any fields blank. Type N/A if the field is not applicable.

  • Thorough answers on the annuity disclosure and switch investments are very important. A compliance officer or regulator needs to be able to read what is specifically written on the form and make a determination on whether adequate disclosure was given to the client. it's about us understanding why the transaction is suitable.

  • Surrender Charges: this is one of the absolute most important pieces of information when exchanging an annuity. Surrender charges need to be correctly evaluated and properly listed in every question relating to this information 100% of the time.


Client, Or Family, Wants to Add Money Later

  • Make cashier's check out to Capital Group
  • Add the account number on the memo line

  • Add the following note:

    • Enclosed is a cashier's check for $15,000:
    • Account #: xxxxx
    • Type: 529 Plan
    • Owner (parent): Paul Oakenfeld
    • Beneficiary (child): Johnny Oakenfeld
    • Please invest in the existing allocation.

  • Mail to: COLLEGEAMERICA, P.O. Box 6273, Indianapolis, IN 46206-6273


Client, Or Family, Wants to Add Money Later

  • Make cashier's check out to Capital Group
  • Add the account number on the memo line

  • Add the following note:

    • Enclosed is a cashier's check for $15,000:
    • Account #: xxxxx
    • Type: 529 Plan
    • Owner (child): Johnnie Oakenfeld
    • Custodian (parent): Paul Oakenfeld
    • Please invest in the existing allocation.

  • Mail to: AMERICAN FUNDS SERVICE COMPANY, P.O. Box 6007, Indianapolis, IN 46206-60073


Setting-Up 401k Plans

401(k) plans are relatively easy to set-up and administer. Visit our Forms Calculator.


TPA Basic Info & Data


Steps

  1. Step 1 is to have FuturePlan set-up the TPA agreement with the client. You do not sign any forms. Make sure your Agent information is included on the paperwork - American Funds will need this to connect you to the 401k.

  2. Then the TPA will do a onboading phone with you and the client. Once this has been completed, the TPA will post the documents to the Capital Group Retirement Planmanager Portal. Once the 401k plan shows up there you can continue to the next step.

  3. You will fill out your section and then American Funds will send a Docusign to your client for final signatures.

  4. You will get a copy of the signed Docusign. Download it as a PDF, as you will need it in the next step.

  5. Next, you will fill out the IP paperwork for the 401k. Documents you need:

    • IP Base Application (you don't need any of the other forms you normally need).
    • Attach the Docusign PDF from the step above.
    • Make a note that IP does not need to send the Docusign to American Funds. They already have all they need from step 3.

  6. The client needs to get a Surety Bond to cover the 401k. A small 401k may only cost ~$100 per year. Here is a good link: https://www.colonialsurety.com/fidelity-bonds/

  7. American Funds will reach out to the client to do a Employee Census, which the client will do online.

  8. Finally is the enrollment meeting, which you will do with all of the employees.



Rollover Traditional IRA/401k into a Roth IRA ("backdoor Roth")

  1. Account Opening Related Disclosures.
  2. New Account Profile form.
  3. Mutual Fund Suitability form.
  4. AMF IRA application (import from Google Drive into DocuSign)
  5. Mark both "Roth IRA" and "Traditional IRA" on the form. This will create two accounts with one application.
  6. AMF Roth IRA Request for Conversion Form (AMF). This instructs AMF to convert the "traditional" monies coming in, into a Roth after the monies arrive at AMF.
  7. Include a Letter of Instruction detailing what you are trying to accomplish.
  8. Once you have the AMF account number, you and/or your client call the releasing company to initiate the transfer to AMF.


Converting Roth IRA Contributions to Traditional IRA

This is needed when the client has made contributions to a Roth IRA during the current year and realizes their increased income will disqualify them from a Roth IRA. Thus, they need to move those contributions into a Traditional IRA.

  1. Account Opening Related Disclosures.
  2. New Account Profile form.
  3. Mutual Fund Suitability form.
  4. AMF IRA application (import from Google Drive into DocuSign)
  5. AMF Traditional and Roth IRA Recharacterization Request form (in Google Drive for Docusign).
  6. Add a Letter of Instruction detailing what you are trying to do. If there is a PAC on the Roth you can ask AMF to move that PAC over to the new Traditional IRA.


Change of Agent


Watch Mass agent-change on your clients accounts after switching BD VIDEO

Watch Change-of-agent on client accounts, coming from another BD VIDEO

  1. If the client is already at IP B/D then all you need is: [S-IP-03] Broker Dealer Change at IP]

  2. If the client is at another broker/dealer, then you need:

    1. [S-IP-04] Broker Dealer Change at External B/D]
    2. A copy of the client's current statement.
    3. Any accoount forms you have from your previous B/D, especially if you were the agent.

If the former B/D's paperwork is less than 3 years old you can submit those instead of the IP New Account Forms!


Change of Address

  • We just need a Email from you stating the client has moved to the new address. We will send out Change of Address letters.
  • DocuSign. Please only use DocuSign for vendors that accept it. Use "real" paper for vendors that do not accept DocuSign.


Name Change

Such as in marriage.

  1. [S-IP-10] IP Advisory Client Agreement DocuSign template.
  2. Include the legal "Name Change Docuemrnt" or "Mariiage Certificate"/

Advisory

You must process two sets of forms: 1) IP Advisory application, and 2) Advisory Platform forms. (But they will be combined into one DocuSign envelope.)


Roth/Traditional/SEP IRA


IP Form(s)

  1. [S-IP-10] IP Advisory Client Agreement DocuSign template.


AXOS Advisory Platform

  1. [S-AXOS-01] RIA Account Application DocuSign template. (Note: MoneyLink form is included.)
  2. IRA Form (select one):
    1. Traditional/SEP IRA: [S-AXOS-02] Traditional/SEP IRA
    2. Roth IRA: [S-AXOS-03] Roth IRA
  3. If doing a rollover/transfer: [S-AXOS-04] Transfer Form


Rollover & Transfers

Most 401k transfers require their own transfer request paperwork. Three way-call with client and they will fax or mail the forms to the client. Make sure you give them your fax or email.

Also, some 401k administrators will accept the request for transfer to be faxed to the employer for approval. Make sure you ask for that fax number and contact information to verify the fax was received. Use the client social as the receiving company's account number. Send in the application through the broker Dealer with no request for transfer so the shell account is open and waiting for the funds.


Go to our Directory of Fund Familieis where we have rollover/transfer instructions for many firms.


This IRS Rollover Chart showins the type of accounts can be rolled to matching account types. PDF

Watch Tips to Handling Rollovers VIDEO

Visit Epiphany #21 - Follow the Money Like a Pitbull WIKI PAGE

  • You can never be the bottleneck. You must be like a pit-bull tracking down what is causing the delay and fix it.
  • Find the easiest method of transfer that all parties will accept. Electronic, phone, email attachments, fax.
  • Use DocuSign whenever possible. It's up to you to determine which vendors accept DocuSign.
  • Call the releasing fund company and ask what special forms they need and what transfer methods they accept.
  • The day you estimate the receiving company will receive your application, CALL THEM get the account number and ask what the status of the transfer is.
  • You must be relentless. It would not be going too far to follow-up every two days.
  • Always make the call with them, always ask for overnight (and you'll pay for it), always get a tracking number. Remember, no one cares about the rollover as much as you do.


Special Requirements


Medallion Stamp/Signature

IP can complete a Medallion stamp. - The client has to be a current client through IP. - IP has to have their IDs on file. I would include the client's Driver's License anyway in the email. - The account has to stay with IP. - The client has to sign the paperwork and either mail, email or fax it to IP. - IP cannot give the paperwork back to you or the client, they will forward the paperwork directly to the company that require the Medallion stamp. - email the reques to: newbusiness@innovationpartnersllc.com


Investing the Proceeds of Selling Real Estate / Land