2020 Wealth Management Platform: Frequently Asked …

1 The VISION2020 Wealth Management platform is an integrated delivery of the research, invest-ment products and business tools you need to efficiently accomplish the critical tasks associ-ated with building your fee-based an effort to provide you with the guidance you need to make an informed assessment of the platform s benefits, we ve compiled this list of Frequently Asked Questions. This piece, along with other marketing materials and information contained on the Advisor Portal, offers a comprehensive overview of the Questions1 Q: What is the Wealth Management platform? A: The VISION2020 Wealth Management platform provides advisors consolidated access to Model Portfolios by Third-Party Strategists, Separately Managed Accounts (SMA), Unified Managed Accounts (UMA) and Advisor Managed Portfolios (Rep as Advisor/Portfolio Manager).

2 2 Q: What does an Independent Registered Investment Advisor have to do to update their ADV Part 2A? A: Investment Advisory Compliance will provide template language for advisors to update their ADV Part Q: Will information entered into the platform during the new account opening process be transferred to Client Central or Salesforce? A: Q: When creating proposals, does the platform allow us to show current holdings versus proposed portfolios even for individual securities? A: Wealth Management Platform: Frequently Asked QuestionsFor Internal Use Only May 2016 General Questions.

3 1 Model Portfolio Questions ..4 SMA Questions ..5 UMA Questions ..6 Advisor Managed Portfolios Questions ..8 Billing Questions ..8 Marketing Support ..10 How to Get Started ..10 2 VISION2020 Wealth Management Platform | Frequently Asked Questions5 Q: If non-model positions are transferred into a Model Portfolio or UMA account, is there a charge for those positions to be sold? A: Q: When are managed accounts (SMA/UMA/Model Portfolios) invested after an account has been funded? A: When the funding of the account reaches 90% to 110% of the expected amount (as stated in the proposal) the account will be invested.

4 If the account is funded with an amount greater than or less than the 90% to 110%, it will be reviewed by the IA Support team. The RIA service team will contact the Advisor for instructions on whether to have the account invested or not. 7 Q: What performance calculation is used on the Quarterly Performance Report (QPR)? A: The QPRs use the Time Weighted Daily Valuation Q: Can systematic contributions be set up for Wealth Management accounts? A: Yes. Systematic contributions can be set up following the standard procedure and paperwork requirements. If you have any questions, contact Mutual Fund Q: How many days do I have to transfer money out of an account after a liquidation request is initiated?

5 A: If it is a partial liquidation (Raise Cash Service Request), the account is monitored for distributions and a cash restriction is in place until funds are withdrawn. We recommend distributing funds as soon as possible. 10 Q: How long does it take for a systematic contribution to be allocated into an existing Model Strategist? A: When a systematic contribution is deposited into a Model Portfolio or UMA account, the cash contribution will be picked up by our traders the following day and will be invested if it pushes the cash percentage higher than the allowable cash drift. 11 Q: How do I set up one-time or systematic withdrawals?

6 A: There is a difference between establishing a one-time and a systematic withdrawal. Systematic withdrawals require custodial paperwork as well as a Monthly/Quarterly/Yearly Systematic Withdrawal Service Request (SR). Once this request is entered, the platform will auto-generate a systematic withdrawal request 15 days prior to the sched-uled distribution date. This request will make the cash available for the distribution that has been set up at the custodian. Once the cash is distributed, the cash restriction on the account (preventing liquidated funds from being reinvested) will be lifted. One-time withdrawals require a Raise Cash Service Request (SR) and may also require paperwork depending on the type of distribution.

7 VISION2020 Wealth Management Platform | Frequently Asked Questions 312 Q: Can fed-funds wires be initiated from Wealth Management accounts? A: Yes, as long as the cash is made available for the Q: Can accounts have checkwriting capabilities? A: Checkwriting is not available for Model Portfolios, SMA, or UMA accounts. Checkwriting is available for Advisor Managed Portfolios Q: Can I have one account for multiple Model Portfolios and SMA Managers?

8 A: No. Each product available through the platform requires its own account number. The UMA, does however allow the use of ETFS, Model Portfolios, Mutual Funds, and SMAs to be combined in one model with a single account number. Clients with multiple products/accounts will have their account performance integrated on the performance Q: How can I access fixed-income managers on the platform? A: Fixed-income mutual funds are available in UMA, SMA and ETF manager models and through Model Portfolios. 16 Q: How do I change or terminate an existing client s model, program, client fee, Risk Tolerance, or manager selection?

9 A: You would place a Service Request through the Wealth Management platform. If the request is to change the target allocations of an investment, a manager selection change or if a new investment is being added to the registration, then a Goal Modification Service Request is required. If the request is to terminate the investment Management , then a Terminate: (Liq/Hold) Request is completed on the system. This request will terminate the investment Management of ALL ACCOUNTS in the registration. If any account(s) in the registration needs to be liquidated, please select the liquidation option for those accounts.

10 If you wish to close some accounts, but not all accounts in a registration, you will have to perform a Modify Goal Service Q: For taxable accounts, how many 1099s are generated by the various investment programs? A: Model Portfolios One per strategist SMAs One per manager UMAs One per account Advisor Managed Portfolios One per account18 Q: Are there minimum account fees for Model Portfolios, Separately Managed Accounts (SMA), Unified Managed Accounts (UMA) and Advisor Managed Portfolios? A: No. However, all accounts under $40K will incur a $35 small account fee payable quarterly.