ACAT Transfer SOP

graph TD
  A[Client Request] --> B[Review Paperwork]
  B --> C[Submit ACAT]
  C --> D[Notify Vendors]
  D --> E[Monitor Status]
  E --> F[Archive + Close]

1 Purpose

Ensure every ACAT transfer request is processed accurately, meets custody timelines, and records all compliance artifacts.

2 Triggers

• Client signs discretionary management agreement and requests ACAT.
• Advisor flags a held-away account for consolidation.

3 Inputs

• Signed ACAT form (DocuSign envelope).
• Most recent statement from relinquishing custodian.
• CRM record in LACRM tagged acat-in-flight.

4 Steps

1. Validate DocuSign package contains a wet signature and mandatory identification.
2. Submit ACAT via Schwab Advisor Center; capture confirmation number in LACRM.
3. Notify Altruist to expect inbound assets when relevant using vendor template.
4. Monitor status daily; update CRM and client email via Buttondown automation.
5. On completion, archive statements and confirmations to S3 audit bucket.

5 Exceptions

• Reject incomplete forms and escalate to advisor for correction.
• If positions are non-transferable, coordinate liquidation with compliance approval.

6 Owner Handoffs

• Custody team → Advisor: when client contact required.
• Custody team → Compliance: if timeline breaches SLA.

7 SLAs

• Submission within 1 business day of receipt.
• Daily status updates logged until completion.

8 Controls

• Dual review of paperwork before submission.
• Automated log export to S3 on completion.

9 Audit Artifacts

• DocuSign envelope ID.
• Schwab confirmation PDF.
• CRM activity log entry.

10 Vendor Nuances

• Schwab: ACAT reference numbers are required for support escalation.
• Altruist: Notify via partner Slack channel using template.

11 FAQs

What if the relinquishing custodian rejects? Reopen the case, document the reason in LACRM, and reissue forms within 1 business day.

How do we handle partial transfers? Update asset list in Schwab before submission and confirm residual balance plan with advisor.