Wealth Management Account Closing
This workflow template illustrates the customer-initiated closure of private wealth management accounts, including the collection of all information required to close the account, the disbursement of any remaining funds and any required post-closure reporting. Purchase and download this template in PDF, PowerPoint (PPT) and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand Wealth Management Account Closing processes.
Related KPIs : Retail Investment Account Attrition Rate, Clients per Registered Investment Advisor, Average Account Balance: Private Banking
What is Wealth Management Account Closing?
The Wealth Management Account Closing process involves coordination between existing private wealth management customers, financial advisors, and client services (accounting and reporting) staff members to terminate customer accounts and produce all required post-closing documentation. When an account closure request is received from a customer, financial advisors and client services staff members work to ensure that the account closure is approved, and that any remaining funds are transferred to the correct location.
Download a Sample Wealth Management Account Closing
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