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Withdrawal - Standard Workflow Template
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The Withdrawal - Standard workflow is a four-task process that is resolved once the withdrawal that was requested by the client has been confirmed, and all four tasks have been tagged as completed.

Relationship Team members required in this workflow: Relationship Manager & Client Service Associate 

Step 1: 

First task is created, called "Evaluate Client Portfolio", and it is assigned to the Relationship Manager. It is expected the relationship manager checks client's portfolio to ready the accounts for the withdrawal. This could include confirmation of withdrawal account and amount, decisions on possible trades, and confirmation of distribution method.

  • Description: Review client's portfolio to determine whether sufficient cash exists to fulfill the request or raise cash activity is needed
  • Due Date: 1 business day
  • Duration: 15 minutes
  • Task Type: Paperwork

Step 2: 

Second task is created, called "Initiate Raise Cash Activity", and is assigned to the Relationship Manager. Based on the workflow, the relationship manager is expected to follow the needed steps to make sure the needed amount of cash is available to withdraw from the correct account(s).

  • Description: Initiate raise cash activity if sufficient cash is not available
  • Due Date: 2 business days
  • Duration: 30 minutes
  • Task Type: Update Custodian

Step 3:

Third task is created, called "Initiate Withdrawal Request from Custodian", and it is assigned to the Relationship Manager. As needed, submit request to the Custodian for the withdrawal activity.

  • Description: Once sufficient cash is available, the withdrawal/transfer of cash to the client's bank account can be requested with the custodian. Includes completion of paperwork if necessary.
  • Due Date: 3 business days
  • Duration: 45 minutes
  • Task Type: Update Custodian

Step 4:

Fourth task is created, called "Confirm Completion of the Client's Withdrawal Request", and it is assigned to the Client Service Associate. This task reminds the client service team to confirm the distribution has been completed. Once confirmed that all four tasks are completed, the workflow status will update to Complete.

  • Description: Confirm with custodian that the transfer activity has been completed and update CRM to reflect completion of the request
  • Due Date: 3 business days
  • Duration: 15 minutes
  • Task Type: Client Services
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