New Form: Client Annual Review Checklist
Many of you have requested a checklist to use for annual reviews with your clients. Dynamic has created one and it’s attached here. It’s not mandatory, but available as a helpful tool to document your client reviews. The completed document should be uploaded into the client’s household record. Please contact Cherie Jolly if you have any questions.
Custody Policy Reminders
• Having access to a client’s User ID and password to accounts may fall under having Custody and therefore, maintaining or using clients’ User IDs and Passwords is prohibited under any circumstances.
• Being named as the Power of Attorney or Trustee on a client’s account is viewed as having custody. You are not permitted to serve as a Trustee or have Power of Attorney for Dynamic clients. The only exception to this is if the client is an immediate family member and approval has been granted by Cherie Jolly.
• Receiving and taking possession of a client’s checks and/or stock certificates could be viewed as having custody unless the item(s) is immediately forwarded to the approved custodian. As best practice, you should remind the client they should be sending deposits directly to custodians.
Procedures for address or “doing business as” (dba) name changes
It’s important that you notify Dynamic at least two weeks in advance if your office address changes, your residential address changes or you decide to change the dba name used to conduct your investment advisory business. There are regulatory disclosures, custodian information, Orion reports, Dynamic internal documents, etc. that require updating when you make these types of changes.
Please complete a General Service Request and supply all pertinent information regarding the change and the effective date. This will start the process to get all required documents updated.