Once client relationships have been placed in his or her hands, the Replacement Representative should take into account a few guidelines laying out the mechanics of account administration. As short-term absences are not immune from problematic issues, an effective operational plan should be put in place before they manifest themselves.
Throughout the duration of the absence, client accounts will remain under the name and code of the Servicing Representative. The name of the Servicing Representative will continue to appear on statements issued by the Insurance companies and/or Alliance Financial Group.
The Replacement Representative ensures service to existing clients for all trading activity by processing business under the code of the Servicing Representative. It is important to note that the Replacement Representative becomes responsible for all business processed during the absence of the Representative initially named on the account. For the protection of both Representatives, only unsolicited inquires (i.e. orders for which no advice is provided by the Representative) should be performed by the Replacement Representative. To obtain additional information regarding unsolicited trades, please refer to the Alliance Compliance Policy and Procedure Manual.
The Replacement Representative ensures service to existing clients for all business activity by processing business under the code of the Servicing representative.
The Replacement Representative must sign his or her own Forms under the code of the Servicing Representative. In order to avoid rejected paperwork from insurance companies, it is recommended to specify "In replacement of Mr. or Ms. X" next to your signature. As added protection, it is recommended to indicate that the trade was unsolicited on the Order Instruction Form.
Access to Alliance Back Office
Since the absence is short-term and only unsolicited business is authorized the Replacement Representative is not granted access to client files in the Alliance back office or any information, the Representative must contact the staff at Alliance Financial Group.
Trade Processing and Suitability
Since clients will remain under the name and code of the Servicing Representative throughout the entire duration of the absence, all document must be forwarded to the office to be processed. However, before processing any trade for a client, even unsolicited, the Representative should ensure that any trades are in line with the client's profile and verify information with the office.
Existing clients may have their portfolios realigned before the return of the Servicing Representative. However, this type of transaction must always be unsolicited and the Replacement Representative must ensure that all trading activity is in line with the client's profile by verifying the client's risk tolerance information with the of office and keeping a record to that effect on file.