Catching a paperwork rejection before the custodian does
The application goes to the custodian and comes back not in good order over a missing initial on page four, a trust registration without its certification, a corporate account opened without the resolution behind it. Each rejection costs days and one more signature from a client who has already signed twice. Checking the application against the actual requirements for that registration type before it leaves, and pre-filling from records the firm already holds rather than retyping them, moves the rejection upstream of the client. The rules have to come from the custodian itself, because each one enforces its own version.
The account application comes back not in good order because of a missing initial, and the whole signature cycle runs again.
The custodian holds the assets and is the record. The advisory firm runs a relationship system alongside it, plus a portfolio and reporting system, plus a planning tool, and the same client identity is entered into each because there is no shared key between them.
- Wealthbox
- Redtail
- DocuSign
When this is the wrong thing to build
Pick something else if you open few accounts. This earns its place on repetition of the same registration types.
The constraint that shapes it
Books and records rules require preservation of communications relating to advice and recommendations, and to the movement of funds, in an accessible place, for a defined period with the earliest portion held locally. More on how this sector works.
Run the rules of the other side first, so the submission does not come back. Read what this shape is, or start from one of these.
- Counting the clock that public marketing starts on a listing
- Checking for a signed buyer agreement before a tour is confirmed
- Catching a filing rejection before the clerk does
- Catching the invoice lines an e-billing gate will reject
- Checking that a technician may legally take the call
- Filing a backflow test report the purveyor will accept
- Why does a custodian keep returning my account application not in good order?
- What documents does a custodian need to open a trust account?
- Can an application be checked against custodian rules before it is sent?
- Which account registration types need a corporate resolution to open?
- How do I stop a signature cycle restarting over a missing initial?
Back to wealth management, or see how this is priced and scoped.