In the Funds Status section of Account Management, client accounts who are logged in and have requested a withdrawal, will see the status as 'Pending Advisor'.
In the advisor structure, client accounts can request withdrawals by logging into Account Management just as any individual account would. Once a withdrawal request is made by a client account, the advisor must approve the request. If the Advisor does not approve the request, the withdrawal request will still be processed, but there will be a 3 business day delay.
Advisor Steps to Confirm:
Once a withdrawal request has been submitted by a client account, the advisor will receive an email notification, stating that a client has requested a withdrawal. In order to approve, the advisor must log into Account Management. The advisor will select the appropriate client account number on the Welcome page of Account Management. A list of all Pending Items will appear for the selected account. The advisor clicks the 'Consent' button in order to expedite the processing.
Note about hold periods:
In order to ensure the timely processing of client initiated withdrawal requests, the hold period for withdrawals where the amount of the request is greater than 80% of the amount available for withdrawal, will be held until consented to by the advisor or 3 calendar days, whichever comes first. For amounts representing less than 80% will be held until consented to by the advisor or the next business day.