You will often have accounts that are brought onto the XYIS platform on your individual rep code. In order to use the automatic rebalancing features of XYIS, we will need to switch the rep code to the three-way shared rep code between yourself, XYIS, and RobustWealth. The good news is that accounts on your individual rep code can be easily transitioned to your shared rep code through the XYIS platform!
Moving an account to your shared rep code will require the client to sign two Limited Power of Attorneys (also referred to as LPOAs or advisor authorization forms) to add XYIS and RobustWealth as advisors to this account. That may sound like you're going to be pushing out a lot of paperwork, but don't worry! All you have to do is assign a model portfolio to the account and turn robo on. The platform will do the rest!
1. The first step of this process will be to assign a goal to the account that needs its rep code changed. To review how to assign a goal and turn robo on for an account, check this user guide out.
* Pro-Tip - Make sure that Robo is on for all goals so that the auto-rebalancing can start immediately! *
Once an account is assigned a goal and robo is turned on, the system will move the account to your shared rep code and prepare the two required LPOAs. These LPOAs will need to be sent to and signed by the account owner(s) before robo can be activated. The platform will automatically fill out the LPOAs and you'll just need to make sure they get sent to the right email!
2. After you save the goal for an account that is on your individual rep code, you will be prompted to enter the names and emails of the account owners who need to sign the LPOAs. Please confirm that the name(s) and email(s) are correct, then follow the prompts to send the documents!
* Pro-Tip - If there are multiple account owners for the account (such as in a joint account) make sure that all owners' names and emails are entered to receive the paperwork! *
3. Your client(s) will receive the two LPOAs in DocuSign form via email. Once signed, the forms will be sent to TD for processing. Once TD processes the forms, the account will officially be moved over to your shared rep code! Robo will also be fully activated and auto-rebalancing will begin.
We hope you found this info helpful, but if you do have any questions around this or other topics, the XYIS service team is here to help. They can be reached at (360) 301-7579 or by email at email@example.com.