New Capability in FMAX
Advisors can now establish DCA and Protect Cash instructions directly within the FMAX proposal workflow, creating a more streamlined and accurate setup experience for clients.
Avoid Trade Errors: Follow the Approved FMAX Cash Management Process
As a reminder, cash management instructions for managed accounts on the FMAX platform must be submitted using the firm’s approved process. Following the correct workflow helps avoid trade errors, processing delays, and unintended client outcomes—especially during volatile market conditions. It’s important that advisors follow the firm’s specific trade instruction procedures, including when setting up new accounts.
Required Process (Reinforced)
As outlined in Field Notice 2023-31, the Illuminations 3rd Party Managed Account Cash Management Form remains the only approved method for submitting the following requests for ESI Operations processing:
- Dollar Cost Average (“DCA”)
- Trade Hold
- Protect Cash
Instructions submitted through suitability remarks, transaction disclosures, emails, or Docupace notes are not considered operationally actionable and may not be reviewed or processed in time. Any trade errors or corrective actions are the responsibility of the advisor if the Managed Account Cash Management Form is not used.
Key Reminders for Advisors
- Do not include trading or cash management instructions in remarks fields on suitability forms or other documents
- Always use the Illuminations 3rd Party Managed Account Cash Management Form or enter instructions directly within the proposal process for applicable requests
- Submit the form via Docupace for proper routing and prioritization
- Provide the form at least 5 business days in advance of funding or trade activity when possible
Bottom Line
To help prevent trade errors and ensure timely processing, always use the approved cash management workflow—either through the Managed Account Cash Management Form or directly within the FMAX proposal process when available.
TC8936945(0526)1
