With the increased adoption of StartingPoint, we are excited to introduce two updates to the EFA Planning process that will streamline the workflow and increase ease of doing business.
- The EFA Plan Delivery Acknowledgement (PDA) page is now a stand-alone form
- StartingPoint has helped make the process of forms gathering and obtaining signatures easier, however in the past, it auto applied a signature and date to this part of the agreement in all cases, even when the plan was not actually delivered. By removing this page out the planning agreement, it can be completed and signed only when applicable.
- To simplify, there will be two account options in StartingPoint for EFA Financial Planning:
- ESI Financial Planning with Planning Work. This will be used when the complete work product is being submitted simultaneously with the agreement. This will include the PDA as a mandatory form.
- ESI Financial Planning without Planning Work. This will be used when the submission of complete work product will follow later. The PDA will be an optional form in this case.
- The PDA will also be available in StartingPoint as a maintenance item
- The EFA Planning process can now be completed 100% electronically
- Previously, the vendor’s disclosure page contained within the MoneyGuide Pro, eMoney, etc. needed to be wet signed since it was not eligible for e-signature
- We have added disclosure language to the PDA so that when the client e-signs it to acknowledge receipt of the plan, they are also acknowledging the disclosures, etc. contained in the plan which removes the need to get wet signatures
These changes will be effective 03/08/2021 and the new stand-alone PDA form # is ES0728. Paperwork assembled manually though Merrill should only include the PDA at the time the full plan is submitted to ESI for review. As a reminder, ESI cannot accept full payment of the planning fee without also receiving the PDA and a copy of the completed plan
Please contact ESI Operations at 800-344-7437 with questions.
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