Moving 4 managed accounts from Smith Barney, anyone know if they will acat or do we have to liquidate and move? (alliance bern, anchor, tcw)
You must be a rookie. You surely don't have to liquidate. ACAT
You may have to have the client sign a letter (I prefer to not ask the client to contact the losing firm any other way) to cease active management first, then ACAT.
Client needs to request SB to send a wire to terminate the mgmt agreement, but NOT liquidate. Then when the accounts move over, you reinstate the new contract thru the new firm, assuming the mgrs are on the new firms platform. The model will be the same, so there will be continuity of mgmt, without disruption of the portfolio.
By clicking below, I acknowledge and agree to Penton's Terms of Service
and to Penton's use of my contact information to communicate with me about Penton's or its third-party
partners' products, services, events and research opportunities. Penton's use of the information I
Sponsored Introduction Continue on to (or wait seconds) ×