There will be times when you as an advisor will need to change or add a rep code associated with an account at TD Ameritrade. This will happen most often when you are taking over management on an account for a client who was working with a different advisor or taking over management on an account that is currently at the retail side of TD. You will need to change the rep code to your own so you are authorized to trade and bill on it as well as have it download to the XYIS platform.
* Follow this process when moving a client's existing account over to your shared rep code with XYIS and Orion. Please remember - you will submit two Limited Power of Attorneys (LPOAs) to get an account to your shared rep code - one LPOA for XYIS and one for CLS.
You will use the Limited Power of Attorney (Advisor Authorization) form to change an account's rep code for both accounts that are coming from the retail side of TD as well accounts that are already on the institutional side of TD.
Below are the areas you will need to fill out on the to add your rep code to an account along with an example form for each.
1. Account Number - If the account whose rep code you are updating is on the institutional side, enter the account number here. If the account is on the retail side, leave this blank.
2. Advisor Code - Enter the advisor code you are adding here. This is the shared code with XYIS and Orion.
3. Case # - Leave this field blank.
4. Account Registration - Enter the account owner's name here.
5. Social Security Number - Enter the account owner's social security number here.
6. Firm Name - Enter either XY Investment Solutions or CLS Investments, depending on who this form is for.
7. Primary Contact - Enter Advisor Technology Team here.
8. Prior IA Firm Name - * Use this box only if the account is on the institutional side of TD already* If this account is currently managed by a different investment advisor, check the box at the top of this section to remove the existing advisor from the account. Then enter the prior firm's name in the Prior IA Firm Name line.
9. TDAI Retail Brokerage Account Number - * Use this box only if the account is currently on the retail side of TD * Check the box in this section if the account is currently on the retail side of TD. Then enter the retail account number on the TDAI Retail Brokerage Account Number line.
10. Directed Trading Authorization - Be sure to have the client initial this line as trading authorization is required on accounts with XYIS.
11. Fee Deduction and Payment Authorization - Be sure your client also initials this section. This will allow you to bill your client's account directly for your management fees.
12. Signature of Account Owner - Have your client sign here and you're all set!
Now you know how to fill out the LPOA form to move a client account to your individual rep code! As always, if you have any questions, please call us at (360) 301-7579 or email us at firstname.lastname@example.org.