FAQS

The time it takes to fully implement your personal plan with us will depend on the number and types of accounts you own, and your cooperation in providing us with requested information. Generally, it takes one week for our team to gather all of your new client information from the time you sign and mail the requested documents back to Cassaday. After we receive your information, it typically takes around 2-3 weeks to initial transfers, but could be longer depending on your specific circumstances. 

That is totally normal, the account likely received dividends from positions that were previously held there. If a full transfer was requested, those residual balances will automatically sweep over to your new accounts. The delivering firm will initiate residual transfers at regular intervals for six months after transfer to move any additional dividends received.

Transfer time depends on the delivering firm and the account type. Brokerage accounts held at common custodians typically transfer in 1-2 weeks through the Automated Customer Account Transfer Service (ACATS) system. Firms that do not participate in ACATS, like local banks or company sponsored retirement plans, are less consistent and typically take between 3 and 6 weeks.

Our goal to make your transition as easy as possible; anything that we can take off your plate, we will. However, your participation may be required to authorize transfers. There are a couple of common tasks that may require your involvement:

• Incoming Wire: If you plan to fund an account with a wire transfer, your bank will require that you to make the request with them directly. We will of course provide instructions for initiating the transfer.
• Company Sponsored Retirement Plans: Most firms require verbal request from the plan participate to initiate transfer, we will schedule a time to call the institution together to transfer the account. The delivering firm may also require additional paperwork, we will complete and submit the forms for you but will need you to sign off.
• ACH Transfer: Once your bank link is approved, we can input electronic transfer requests of up to 100k per day to or from your brokerage account. However, your verbal confirmation is required, give us a call if you want to complete this type of transfer.

Yes, if a full transfer was requested the account will automatically close once the account is empty. If you would like to keep the account open, let us know and we can request a partial transfer. Most institutions leave your online login active, providing access to tax documents and statements.

We will not make any changes to your accounts without your approval. Once all incoming transfers are received and cost basis for taxable accounts has been provided, we will review your accounts and prepare investment recommendations. Once prepared, we will reach out to set up a time to review them with you.

There are two ways for you to view your account information online. Our Broker-Dealer, Royal Alliance, supplies clients with an online portal that is useful for enrolling in e-delivery, accessing account statements, and viewing check information related to their Corestone check writing accessory. I recommend using this site to enroll in prospectus and notification e-delivery, as those communications can be frequent or lengthy. In addition, the Cassaday client portal provides performance and reporting information, a secure document lockbox for exchanging files, and robust reporting features. Once you are enrolled in e-delivery, we recommend using the Cassaday Client portal over Royal Alliance’s because of the added features and user-friendly site navigation.