This process will review and approve new plan lineups where the client is requesting fiduciary services. This overview will guide you through the process of manging the updates via investGrade.
Navigate to the Fiduciary Requests page
Once there, you can see all of the requests made to your organization to manage. Each line item reflects a single plan lineup. Here you can see the status of the request, requested date, the requested 3(38) Fiduciary Organization, the Plan Name, the fiduciary service type [3(38) and 3(21)], and the available actions the you can take for each plan.
You can click on the plan's name to see the details for that plan.
How to update the Fiduciary Requests:
When updates to the requests are needed, each individual request could be updated or you can update multiple requests at once.
Plan Lineup Status:
Requested - All new requests will show a status of "Requested".
In Progress - The 3(38) Fiduciary organization has started the onboarding process to start Fiduciary services
Approved - The Fiduciary has accepted the plan's responsibility, the 3(38) user will update the status to Approved. This will allow the 3(38) organization to take over management for the plan and make updates to Plan lineup.
Rejected - The 3(38) Fiduciary does not want to accept the responsibility for a plan
Each status update will also reflect on the Advisor's Fiduciary Request page to inform them on where they are at in the process.
Update on Individual Fiduciary Request
If you have a long list of requests, you can apply filters to find a specific plan you need to update
Each request will have individual status updates
Requests with the Requested status can update to In Progress, Approved, or Rejected
Requests with In Progress can be updated to either Approved or Rejected
Update Multiple Fiduciary Request at once
Optionally, you can apply filters to find a specific plan you need to update.
Select the rows you would like to make a bulk update.
Next, you can update the state of each request
Requests with the Requested status can update to In Progress, Approved, or Rejected
Requests with In Progress can be updated to either Approved or Rejected
The final states for each request are Approved and Rejected. The Advisor also can Cancel the request if the status of the request is either Requested or In Progress.