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Showing results for tags 'client authorization'.
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I'm requesting input from the daily plan administration community. We are trying to minimize risk and not tak on too much fiduciary responsibility in our actions. In our practice as a daily record keeper we direct the trade orders. Some in our firm would like a client affirmation prior to processing ADP corrective returns. Others know practically, involving the client or participants in this process is a frustrating process that only creates anxiety and has its own monetary risks and service problems. What are others doing? Processing without approval? Explaining the process upfront and not asking approval at the time of processing? Asking for approval and processing after a # of days regardless? Asking for approval and not processing until approval is received even at the risk at missing the corrective distribution deadline?
