Dear Valued Advisor,
We thank you for your business. This email is to clarify guidelines to advisors for packaging their emailed documents before submission to Global Pacific.
The majority of business transactions are received by Global Pacific via email in scanned documents. We require the documents to be ready for Global to send to the carrier. Our back-office time reviewing investment and insurance transactions and applications is too often consumed readying advisors’ paperwork before it can be sent to the carrier. When scanning from your phone, ensure you ‘keep scanning’ so the pages form one document. See link below.
Going forward we ask advisors to follow the below guidelines. Transactions received otherwise, will be returned to the advisor for reason of ‘not in good order’. The advisor will be asked to fix their transaction document and resubmit to Global with correct, complete documents.
Please send your email with cover note of instruction for handling. Indicate in the email if the attached account/policy documents are copies for transmission to carrier or if the documents were sent to the carrier electronically already. Global also requires advisors to email copies of each e-app transmissions with illustration and client file documents.
1. Send the Investment Transaction request document before 9:30am to process current date. Global does not hold post-dated transactions. Transactions are submitted to the carrier for handling.
2. Send 1 email per account/policy: Attach one combined PDF document containing all pages per 1 account/policy intended for submission the carrier. These pages will be reviewed and transmitted to the carrier. Example: Application, Illustration, One-time Pre-Authorized Debit, Replacement Form (insurance), Transfer Instructions (investments), Authority to Represent or Limited Authorization (investments), Switch Instructions, Redemption instructions, Letter of Direction signed and dated by client.
3. Attach 1 combined PDF document containing pages for your Client File documents. Example: Disclosure Statement, KYC, Needs Analysis, Acknowledgement of Receipt. N.B. We encourage advisors to post Client File documents directly to the client’s account for record keeping on the account.
4. Please do not send client’s ‘paper’ cheque with documents to Global. Use One Time PAC/PAD instead of a client cheque, and attach the VOID cheque with bank authorization section signed and dated. Scan the documents as described in #1 and email to Global for processing.
5. Paper Cheques – Important Change effective July 1, 2021
All insurance and investment partners continue to accept paper ‘cheques’, we prefer advisors utilize One-Time pre-authorized debits (PAD) authorization for initial &/or additional deposits and always attach a VOID specimen cheque or bank’s direct deposit form matching account holder’s name. Accepting a cheque for deposit is no longer the preferred method. Financial institutions allow for electronic fund transactions with the correct documentation to replace paper cheques.
Effective July 1, 2021, where cheques are accepted causing a requirement to courier for delivery of paper cheques and documents for investment transactions, the advisor will be assessed the delivery service charge. The delivery service charge will be waived for deposit amounts greater than $100,000.
6. Delay in Processing - Items not accepted or considered ‘not in good order’ - No photographs or images of documents. Pages are to be scanned as PDF file type.
- No single page sheet submissions. Combine / assemble your document. Make certain your application pages are assembled into one document per account, in page # order.
- If we receive multiple separate pages that require re-sorting and assembly or combined with various account numbers, the documents will be emailed back to the advisor to fix (as per instructions in 2 & 3 above).
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