Tuesday, July 7, 2009

1) We did not know this, but HK or I are suppose to write down exactly what is on her White Board after each meetings. Comment: She can't recall what she's writing? It's very possible she would deny that she wrote something too.
2) Client BS wanted to do a 401k rollover. When HK went to process the paperwork, she noticed there was no 401k statement. HK asked Boss if the client provided an estimation, and Boss said he never said. HK calls client and he says he told Boss several times it was $30k.
3) Boss told HK to do some asset reallocations. The number total was 90% when it should have been 100%.
4) Boss says it's a case by case situation when notarizations are required. Sometimes Boss can do notarizations with the client present and sometimes Boss can do notarizations without the client present. Comments: I believe the law requires both parties to be present for notary services.




Monday, July 6, 2009

1) Per the client statements we prepare, we were originally told to put the date the funds or assets acquired on the consolidated statement (we prepare) when FNIC took over. She now changed her mind based on Ross/Walters to put the cost basis of the fund or asset. We had originally told her this months ago, but she did not want it. Comment: This is a huge flaw, because around tax season in April, many clients were calling for cost basis on assets sold which HK and I had to allocate time to research.
2) Researched 8 Variable Annuity Transfer errors that I did. We executed them today as of 6-July-2009.