Regal Operations Newsletter June 2019

As we begin a new month, the Regal Investment Advisors / Regulus Advisors Service team has gathered a new set of useful tips. These tips cover areas that we feel answer commonly asked questions or can help advisors and/or assistants.

Client Investment Advisory Agreement Updated

The Client Investment Advisory Agreement (CIAA) has been updated! The CIAA has been updated with the following improvements:

  • Removal of duplicated trusted contact information
  • Removal of e-delivery option; this is now a negative consent to use the email on the custodian paperwork if available
  • Ability to write in custom breakpoints to fee schedule
  • Addition of the Fee Schedule Worksheet
    • Required with any CIAA
    • Outlines what is included in the total fee
    • Advisory signed only

Below is an example of the updated fee schedule and how to correctly input fees reflecting account balances.

The cutoff date for use of old forms is Monday, July 8th, 2019.

Updating Addresses During Travel Periods

With many households traveling during the winter and summer months, it’s important to update the mailing address on their accounts. If addresses are not updated on the accounts and the client is away for an extended period, mail is returned to the custodian which can lead to further complications within the account. If a household will be gone for a month or more an address change will be required.

Addresses can be updated with a Letter of Instruction (LOI) signed by the client specifying what their new address will be. Once the client returns, another signed LOI will need to be submitted updating the address to their residence. Each LOI can be submitted as an AM – Address Change work item.

Please note, we cannot accept instructions to have an address temporarily changed for a certain amount of time. One LOI is required per address change.

Making Funds Available Within Advisor Managed Accounts

The process in which cash is made available for distributions or fees is contingent upon the account’s money management strategy. Accounts under any of the Regal Boutique Managers will have funds made available by the money manager. However, advisor managed strategies, or accounts invested in North Star Investment Management Mutual Funds, will require the advisor to dictate the cash in the account.

Making cash available in a North Star Mutual Fund account is accomplished by submitting a C – Liquidation Only work item through COMET. Within that work item attach the Regal Cashiering form to specify the amount to be liquidated.

Upcoming Technology Training

Each month Regal hosts a technology webinar that covers basic navigation and use of Tamarac, COMET, custodial websites and Xtiva. We encourage all new advisors and/or assistants to attend, as well as those that need a quick refresher.

The next webinar is Wednesday, June 12th 2019, at 1:30 PM – 3:30PM EDT.

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