Final Ops Newsletter June 16

June 2016
Inside This Issue:
What’s new in Desktop Integration
Did You Know?
Registration Changes
Money Market Reform
American Funds Fees
New Branch Openings
Trust Certifications
eQuest Improvements
T+1 Update
Address Changes and Households
New Stifel EMV Chip Cards
Mutual Fund 529 Updates
Have You Met?
Advisory Account Info
Traveling this summer?
Don’t forget to let
Money Funds know so
they can code
your account!
A Message from Miranda Miller…
“Alone we can do so little; together we can do so much” (Helen
Keller) is one of my favorite quotes. Through my last 18 years at
Stifel, this quote has proven time and time again to be true. As
Stifel continues to grow, teamwork is one of the most important
secrets to the sauce that makes us the “Firm of
Choice”. Continuously working to improve the platforms our
branch personnel and clients utilize is one of our top priorities, but
we realize this is not something that one can do alone. It takes
the coordination, communication, and teamwork of many to
accomplish. When working towards an enhancement, we focus
on communicating closely with branch personnel to review, pilot,
and provide important feedback. We also talk to many different
advisors, support personnel, friends, and clients that have diverse
backgrounds to stay competitive and knowledgeable. This best
practice has allowed Stifel to deliver great platforms and
enhancements. As you scan through the Ops newsletter, look for
some helpful guides on how to utilize our current platforms as well
as announcements of new features coming your way soon.
Miranda Miller
Director
Stifel Desktop Integration
and Entitlements &
Access Control
Operations Newsletter – Issue 9

Hot on the heels of the new Thomson One Advisor Workstation rollout which was recently
completed, Desktop Integration has already begun to rollout the next new version of Thomson
One. No need to be concerned. The changes are not as significant as the previous upgrade.
This upgrade’s new features include a heat map “Winners/Losers” button which will organize your
flex monitor into the 10 highest winners and losers so that you can very quickly see your securities
with the most significant change.
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In addition to this upgrade, there are minor usability improvements and additional compatibility
which will allow the firm to upgrade to Internet Explorer 11. The upgrade is going very smoothly
with over 1500 users upgraded and should be completed by mid-June.
The Stifel Access team is also working on several new projects to enhance usability to Stifel clients.
In addition to features such as group level holdings views, we are also working on projects to
increase the number of accounts visible to clients and also the ability to “tag” multiple Client IDs
on the same machine. We look forward to rolling these new features out over the next several
months.
You can find an associate’s email address from their first or last name? When you open a
new email, just type the name into the ‘To…’ field. On your keyboard press (Ctrl and K at the
same time) and the email addresses associated with that name will come up. If the first or last
name is not unique, all names matching that criteria will be displayed to choose from.
Volume 2, Issue 1 ● Operations Newsletter
Volume 1, Issue 4 ● Operations Newsletter
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What does the term “Registration Change” mean in the advisory world? Advisory Operations uses the
term when ownership has continued from one account to another, but the account number needed to
change. A Registration Change, in our world, is offered for the sole purpose of continuing
performance. Below are a few examples. These examples are for illustration purposes only and are not
an exhaustive list of possible scenarios!
· Single-name account moves to a single-name trust
· IRA is re-characterized to a Roth IRA
When it has been determined that a Registration Change can be processed, Advisory Account
Processing will:
· Look for the Registration Form: Portal > Operations > Advisory Operations > Forms > Changes and
Maintenance > Registration Change Form OR by clicking:
http://portal.stifel.com/Operations/advisoryoperations/Pages/Changes-and-Maintenance.aspx
· Watch for ALL assets to move from the old account to the new account – Note that performance
can only be continued if all assets move from the old account into the one new account
· Verify that no changes have taken place, i.e., program change, manager change or portfolio
change – the features must be identical from the old account to the new account
· Apply the paperwork from the old account to the new account, assuming all of the same
signatories are in place OR new paperwork is not needed
. If new paperwork is needed (which may be the case, depending on the scenario), the FA and
Branch Manager will need to approve, as the paperwork will come directly into Advisory Account
Processing with the Registration Form, and be processed outside of eQuest
· Continue performance – historical performance from the old account will be carried over to the
new account
· Terminate management in the old account, and set up the new account in the same program,
notifying the third-party, if applicable
· IMPORTANT: All of the above needs to be ready to go for the registration change to be processed,
i.e., within 24 hours. If not ready, then regular processes will be followed – terminate old account,
set up new account upon receipt of applicable forms/paperwork through eQuest, performance
will not continue
Here are a few examples of changes that would NOT qualify as a Registration Change:
· Deceased IRA moving to the beneficiary IRA
· Business account moving to a single-name account
If a Registration Change cannot take place, Advisory Account Processing will:
· Terminate the old advisory account immediately. If the client wishes the new account to become
advisory, an eQuest work request will need to be processed. The new account’s performance will
have a new performance start date.
For questions, contact Advisory Account Processing at CSAccountProcessing@stifel.com, or by phone at
extension 8456.
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In our last Operations Newsletter,
we outlined the recent regulatory
changes that could impact
money market funds. If you
missed it, please see page 11 of
the March newsletter found here.
We are working diligently to
ensure our money market
offerings are compliant with
these regulations and to minimize
the impact to you and your
clients. Be on the lookout over
the next few months for
important announcements and
client communications explaining
these changes.
Please call the Cash
Management Products team at
(314)342-7443 if you have any
questions regarding money
market reform, money market
funds, or industry news.
The last quarterly cycle will end in May payable in
June. For FA’s still interested in receiving the
American Funds Advisor Asset Statements they will
be available on DST Vision by clicking the 12b-1
Advisor Statement link on the Management
Company Assets page. The statements provide
on-going compensation details for eligible assets
held directly with the American Funds.
WELCOME TO STIFEL:
Sioux Falls, SD – March 30 th
Stockton, CA – May 12 th
Jacksonville, FL – May 19 th
Operations would like to give special recognition to two associates
celebrating a milestone anniversary with Stifel.
Please join us in congratulating
Vicki Brinker, Managing Director of Operations, and
Kim Ray, Director of Margins, Money Funds and Risk Management
on their 40 th anniversary with Stifel Operations.
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Why is this document so
important for Advisory
Accounts?
Advisory paperwork needs to be signed by the applicable authority, i.e., account owners, appointed
corporate officer(s), ERISA plan representative(s) and trust Trustees. For Trusts, Advisory Account Processors will
be looking for the Trust Certification (TRCT) on OnBase. This document shows not only who is authorized to sign
for the Trust (and if the Trustees may or may not act alone), but also shows IF the Trust allows for third-party
management. That is important! If the account is giving discretion to a third-party manager (either internal or
external), the Trust Certification must indicate that the trust allows a third-party to act. The reason for rejection
will be in the AUDIT field, stating that the Trust Certification indicated that third-party management is not
allowed.
Many of you have come to Stifel’s shores from other firms, and the accounts were “grandfathered” into
advisory without Trust Certifications. Your former firm may have only required the Trust to be on file, but NOT a
Trust Certification. However, Stifel Advisory Operations requires Trust Certifications to be on file! Going forward,
if this “grandfathered” account now needs to go through a change, i.e., portfolio, manager or program
change, the Trust Certification will need to be on file. If no Trust Certification is on file, the work request will be
rejected. The reason for rejection will be in the AUDIT field, indicating that no Trust Certification is on file.
Points to remember:
Advisory trust accounts should have a Trust Certification on file – DOCA code, TRCT
The Trust Certification shows a summary of the powers of the trust, including the important issue of
whether or not the Trust allows third-party management.
The Trust Certification shows WHO is authorized to sign paperwork, and if the Trustees may or may not
act alone.
For those advisory trust accounts that do not have a Trust Certification on file, please obtain one to
prevent the account from being rejected for advisory set-up!
For questions, contact Advisory Account Processing by phone at 314-342-8456, or by e-mail at
CSAccountProcessing@stifel.com.
Watch for important email announcements coming this summer
eQuest
Enhanced Look and Feel, coming soon! (ETA July 2016)
• Significant improvements are being made to the
look, feel and responsiveness of the application.
o
o
o
Grid display and
buttons have been
redesigned
Warnings, errors,
messages will be
easier to read.
Audit, document, and
workflow information
is being repositioned
to the top of the
page.
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Mutual Funds have moved to a standard T+1 settlement. For almost 2 months over 250
Mutual Fund companies’ transactions have been processed with an automatic T+1
settlement and the results have been fantastic. The process of having to mark trades with T+1
notes and Special Instructions has all but vanished.
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Unfortunately there are still a small number of Mutual Fund transactions which will require the
override if T+1 is needed. These will include all transactions for First Investors and some
Alliance Bernstein, Invesco, and Janus Funds. There are also a few Funds that will not allow T
+1 and will always settle T+3. These include CGM and some of the Integrity Funds. See the
Trading Exceptions List on Stifelnet at http://portal.stifel.com/Operations/MutualFundOps/
Pages/Funds-Family-Trade-Settlements.aspx for continued exceptions.
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Mutual Fund Ops 529 Plan Account Opening Reminders
If Stifel is broker dealer on the 529 plan and a shell account is needed to network,
please choose yes to “Does this Plan Exist at the Fund?”
The yes choice also determines which required Stifel documents are generated
through eQuest.
Once the account is approved by the FA and Branch Manager and the client has
signed where applicable, submit all paperwork including the original 529 plan
application (or applicable fund paperwork) to the MF Ops 529 Team.
Always choose “held away” for Account Type.
Retain the original Stifel documents in the branch client file along with a copy of the
529 Plan application and check (remember, the originals should be sent to 529 Ops).
Step by Step eQuest Instructions can also be found on Stifel Portal at http://
portal.stifel.com/Operations/MutualFundOps/Pages/Step-by-Step-eQuest-Instructions.aspx
Mutual Fund Ops 529 Plan Changes Reminders
The Missouri MOST 529 Advisor College Savings Plan no longer exists as of May 6, 2016. If you
had the MOST Advisor 529 Plan and did not roll it to another Advisor 529 plan prior to May 6,
2016, the accounts are now direct only. Clients should have received packets from MOST
with their new direct account number(s) and new account information.
Alliance Bernstein will no longer manage and administer the Rhode Island College Bound
Fund 529 Advisor Plan and the plan will no longer be using the DST Vision platform. Invesco
will be taking over as plan manager in July and Ascensus will be the record keeper on the
529 Quickview platform.
The Dashboard Reports offer the ability to include Goal Based Return for a client? To include this
you will need to set up a Custom Benchmark. For help setting up a custom benchmark you can
get step by step instructions here:
http://portal.stifel.com/Operations/clientservices/Pages/Dashboard.aspx and select Dashboard
How To – Set a Custom Benchmark.
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Carl Wessling, Security Transfer Sr. Team Lead, will be celebrating
his 10 year anniversary with Stifel this year. The Security Transfer
department transfers certificates into street name, makes them
eligible for sale, corrects registrations and removes
restrictions. For TODs, they process the paperwork completed by
the client to convert an account into a TOD account and
ultimately process distribution paperwork upon the TOD account
holder’s death.
Although Carl likes the unique aspects and opportunities of his
day to day job, what he likes the most is the work
environment because the people are friendly and helpful. If
asked, he would share with a new employee that they should
be willing to learn as many new things as possible.
Carl Wessling
Senior Team Lead
Security Transfer
Carl is a huge Cardinals fan and enjoys attending their
games. He has attended each Cardinal home opener since
1997. He also enjoys traveling and says that Key West is his
favorite destination as he has vacationed there every
November for the last 10 years.
Have you met…
Shelley Kertz, New Accounts Sr. Team Lead, joined the Stifel
team almost 8 years ago. The New Accounts department
assists the branches in account opening, account changes,
customer verification, document review, returned mail issues,
new recruit account processing, and ensuring that accounts
are set up accurately to comply with the various regulatory
rules and Stifel policies.
Although Shelley likes the variety of functions and challenges
her job brings daily, what she likes best is the camaraderie. She
feels that the people she works with are not just co-workers but
friends as well. The advice she would give to a new associate is
to always understand what you are doing and why it’s needed.
The more you expand your knowledge base, the further you
can go.
During Shelley’s time away from Stifel, she enjoys spending time
with her husband and 3 kids. They spend a lot of time outdoors
attending sporting events, such as soccer, cheer, and t-ball, as
well as taking hikes or relaxing on the beach. They also serve in
their community doing outreach and special projects with their
church.
Shelley Kertz
Senior Team Lead
New Accounts
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ERISA accounts, Profit Sharing Plans (PSP), 401(k) accounts now need more
documentation on file before the account may be coded as advisory!
These account types must have the QPCT, Qualified Plan Certification, document on file:
To indicate who the Plan’s Trustees are, and how many signatures are needed for
authorizations on the plan’s behalf
To indicate if a plan participant (for segregated FBO accounts only) is able to direct
the investments within the account
Submit this form to New Accounts for imaging to the account, under DOCA code,
QPCT
These account types must also have the ERAD, FA Application to Conduct ERISA Advisory
Business, on file:
ERISA standards say that FAs must provide advisory clients comprehensive, continuous
and prudent investment advice
FAs must meet certain requirements prior to conducting fee-based advisory business
This form shows what qualifications the FA has in place in order to conduct ERISA
advisory business
Submit this form to Tina Morales, Consulting Services Marketing. Tina will then obtain
the sign-offs by Consulting Services, Retirement Plans and Compliance, and then she
will image to the account, under DOCA code, ERAD
If BOTH of these forms are not on file at the time the advisory work request comes through,
Advisory Account Processing must reject the work request back to the branch. The request
can then be resubmitted for processing once both forms are in good order, and on file.
For questions regarding these two forms and what they mean for advisory business can be
directed to the Advisory Product Groups!
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