Cetera recently updated their procedures on how to request a client be removed from your book of business. Previously, you had to send several letters via certified or trackable mail, wait a period of 60 days, and request that the accounts be made into house accounts. Now, you are only required to send one letter (with proof of delivery) to make the request for Cetera’s Investor Center to take the clients off your hands! In addition, instead of sending a copy of the letter and proof of delivery to the OSJ, you can now send it directly to Cetera supervision. Email to supervision@ceteraadvisors.com.
It is possible that some accounts may not be accepted by the Cetera Investor Center team. For example, an account that consists solely of REITs may not be accepted
In our updated job aid, we outline the steps to proceed compliantly through this process. The job aid also includes three template examples of letters that you may send to your clients, such as client not accepting advice, growth of practice, and regulatory changes. Please note that there are ad review requirements for use of these templates, and those directions are described in the job aid as well.
If you have any questions, please contact us at 913-529-5500, option 2 for compliance or at compliance@prosperityadvisors.com
Internal Use Only
Attachment: Fire the Client Procedures
Megan Reed
Sr. Service 1st Administrator