Draft a client instruction, review it independently, submit it, verify the evidence, confirm it and reconcile the portfolio.
Wealth Advisor records the subject, requested amount, instrument and counterparty and attaches the client mandate. The instruction is Draft.
Wealth Advisor submits it for review. Compliance Reviewer approves, returns or rejects the submitted version with a reason. Approval authorizes the instruction only for an eligible counterparty.
Operations Analyst sends the authorized instruction through the approved provider connection. The instruction is Submitted, then Pending once the provider acknowledges it.
Operations Analyst checks each evidence line's quantity, price and fees against the instruction and marks it Verified or Rejected.
With its evidence verified, the instruction is Confirmed with the confirmation date and provider reference.
Portfolio Accountant submits the household snapshot after the change, and Operations Analyst approves or rejects it.
And how to keep it from happening.
Start free, then use Proto to change fields, steps and approvals before your team goes live.