SII Investments – Company Standards

When you’re changing broker/dealers, understanding the company standards of the firm you’re considering is important. At SII Investments, we’re committed to providing practical solutions to the financial professionals we work with. Outlined below, please find the standards we maintain to help our registered representatives grow and build the best practice possible.

Brokerage Firm Standards
Process Standard
Phone calls and email responses 24 Hours
Advertising Review
Process Standard
Review 5 pages or less 48 Hours
Review 5-10 pages 5 Business days
Review massive documentation Timely Fashion (negotiable)
Financial Advisory Services
Process Standard
WealthONE® Accounts opened – In Good Order (IGO) 1-2 Business days
Not in Good Order (NIGO) Paperwork contact to Rep Within 24 hours of Receipt
Quarterly performance reports issued 15 Business days after quarter end
Quarterly fee verification – Billing summary 2 Business days after quarter end
Advisory fees paid to Rep 1st Month-end commission close after quarter end
TPAM Accounts opened – In Good Order (IGO) 1 Week
Brokerage
Process Standard
ACH services (includes Pershing processing time) 2-3 Business days
Check requests initiated by Rep By 12 PM CT for same day processing
Check requests initiated by brokerage services By 12 PM CT for same day processing
3rd Party check requests initiated by Rep By 12 PM CT for same day processing
3rd Party check requests initiated by brokerage services By 12 PM CT for same day processing
Fed Fund wires By 12 PM CT for same day processing
Journals 24-48 Hours
IRA distributions 24-48 Hours
Asset movements 24-48 Hours
Cost basis 24 Hours
NetX360TM Enrollment for Rep 4-5 Business days
Commissions
Process Standard
Commissions processed for payment (IGO) 24-48 Hours
Commissions processed for payment (INGO) 24-48 Hours
Commissions monthly cut off 4 Business days before the end of the month
Commissions research 24-48 Hours
Financial Business – Compliance
Process Standard
Account/Trade review and approval (EOE) Within 2 Business days
Account/Trade review and approval (Non-EOE) Within 3 Business days
Letter of Indemnity 24-48 Hours
Signature guarantee 24 Hours
Branch examination letter 4 Weeks
Rep response to branch examination 3 Weeks
U4 Amendment disclosures 20 Days
Registration
Process Standard
Pre-hire 48 Hours
New state registration 24-72 Hours (can be up to 30 days at state level)
Enrollment Kit Processing 24-72 Hours
Exam window opening 24-72 Hours
New Accounts
Process Standard
New Clearing Firm account number established 24-48 Hours
New Clearing Firm account number established (EOE) 24-48 Hours
New Clearing Firm account number established trade pending 20 Minutes
Account updates 24-48 Hours
Transfer on death 24-48 Hours
Corestone services 10 Business days
Margin services 24-48 Hours
Option services 24-48 Hours
ACAT transfer complete Up to 7 Business days
Non-ACAT transfers complete Approx. 6-8 weeks
Internal transfers complete 48-72 Hours
Mutual Fund transfers complete Up to 30 days
Select link® 2 Business days
Transfer rejects 24 Hours
Products
Process Standard
Due diligence reviews – High priority 3-4 Weeks
Due diligence reviews – Medium priority 1-2 Months
Due diligence reviews – Low Priority 2-3 Months
Legal review of selling agreements 3-5 Weeks
Trading
Process Standard
Trade corrections 24 Hours
Bond corrections 24 Hours
Subscribe (Purchases) 24 Hours
Limited partnerships/REITs (purchasing) 72 Hours
Limited partnerships/ REITs (transferring) 2-4 Weeks
DTC transfers 48 Hours
DWAC 24 Hours
Accommodation transfers Up to 6 weeks
De-networking mutual funds (processed) 3-4 Weeks
Transfers & ships (delivery to customer) Up to 6 weeks
Account liquidations (outgoing transfer request) 24 Hours
Cashless stock options 24-48 Hours