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Client Account Migration Form

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CLIENT ACCOUNT MIGRATION FORM

RECITALS

WHEREAS, Client Name: is the owner of the accounts and data identified below; and

WHEREAS, Service Provider: possesses the technical capability and services required to migrate Client accounts and associated data in accordance with the terms set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows.

EFFECTIVE DATE & PARTIES

Effective Date:

SCOPE OF WORK

Service Provider shall perform account migration services as set forth below. The services include extraction, transformation, secure transfer, verification, and validation of account data and related assets from the Source Account(s) to the Destination Account(s).

ACCOUNT & DATA DETAILS

Source Platform / Provider:    Source Account ID:

Destination Platform / Provider:    Destination Account ID:

Account records    Transaction history    User profiles    Attached documents

MIGRATION SCHEDULE & MILESTONES

Estimated Start Date:    Estimated Completion Date:

PAYMENT TERMS

Total Migration Fee: $

Deposit Required: $    Final Payment Due:

Late Payment Fee: % per month on overdue balances or a minimum of $, plus collection costs.

TERM AND TERMINATION

Term Commencement Date:    Term Expiration Date:

Either party may terminate this Agreement for material breach if the breach remains uncured for days following written notice. Termination for convenience requires days' prior written notice and payment for work performed through the termination date.

CONFIDENTIALITY

Each party acknowledges that in connection with the migration it may receive Confidential Information of the other party. "Confidential Information" means nonpublic business, technical, customer or financial information disclosed in any form. The recipient shall: (a) hold such Confidential Information in strict confidence; (b) use it solely to perform obligations under this Agreement; and (c) not disclose it to third parties except to those employees, contractors, or affiliates with a need to know who are bound by equivalent confidentiality obligations. Confidential Information does not include information that is or becomes publicly available other than by breach of this Agreement, is rightfully received from a third party without restriction, or is independently developed without use of the disclosing party's Confidential Information.

DATA SECURITY & COMPLIANCE

Service Provider shall implement commercially reasonable and appropriate technical and organizational measures to protect data during extraction, transfer and storage, including encryption in transit and at rest where applicable, access controls, and secure deletion of temporary data. Any security incidents affecting Client data must be reported to Client within days of discovery.

AUTHORIZATION

Client hereby authorizes Service Provider to access and use Client credentials and data as necessary to perform the migration. Client represents that it has the authority to grant such access and that the data transfer will not violate third-party rights or applicable law.

Access to Credentials: Client grants access    Limited Access (describe):

REPRESENTATIONS & WARRANTIES

Each party represents and warrants that it has full power and authority to enter into this Agreement and to perform its obligations. Service Provider warrants that services will be performed in a professional and workmanlike manner consistent with industry standards. Except as expressly provided, no party makes any other warranty, express or implied, and liabilities are limited as set forth herein.

GOVERNING LAW; ENTIRE AGREEMENT

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to conflicts of law principles. This Agreement, together with any attached exhibits or statements of work executed by the parties, constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, and communications, whether oral or written.

MISCELLANEOUS PROVISIONS

Notices under this Agreement shall be in writing and delivered to the contact details provided above. Neither party may assign this Agreement without the prior written consent of the other, except to a successor by merger or sale of substantially all assets. If any provision is held invalid, the remainder of the Agreement shall remain in effect.

Client:

By:

Date:

Service Provider:

By:

Date:

Enter text✕

What the Client Account Migration Form Is

A Client Account Migration Form documents a client's authorization to transfer assets, account records, or custodial relationships from one financial provider to another. It typically lists account numbers, asset details, transfer instructions, and signatures from the account owner and any required representatives. The form creates an auditable record of consent and instructions used by broker-dealers, custodians, banks, and advisory firms to execute transfers while meeting regulatory and internal control requirements.

Why a Clear Migration Form Matters

A complete, accurate form reduces transfer delays, supports compliance, and produces an auditable authorization trail. Standardized fields cut manual follow-up and help custodians reconcile assets and tax information efficiently.

Why a Clear Migration Form Matters

Typical Users and Stakeholders

Financial institutions and client-facing teams complete or request this form when moving accounts between custodians or advisors.

  • Registered investment advisors and wealth managers handling client-initiated transfers and consolidations.
  • Broker-dealers and clearing firms coordinating ACAT or broker-to-broker transfers.
  • CPA firms and family offices preparing transfers tied to tax planning or estate administration.

Multiple parties may sign or authorize the form; routing and authentication depend on custodian policy and regulatory requirements.

Step-by-Step: Completing the Migration Form

Follow these core steps to prepare and send a client account migration form with minimal rework.

  • 01
    Gather Documents: Collect account statements and IDs before populating the form.
  • 02
    Complete Fields: Enter legal names, account numbers, and transfer type accurately.
  • 03
    Obtain Authorizations: Get client signature and any required guarantees or notarization.
  • 04
    Submit to Custodian: Send to the losing custodian and receiving custodian per their routing rules.

Configure an Online Migration Workflow

Map document fields and routing to match custodial requirements and your internal approval flow.

Field Mapping PDF fillable fields | Match to CRM account attributes
Authentication Email plus SMS code | Two-factor signer verification
Routing Rules Custodian then advisor | Sequential signer order
Retention Settings 7 years | Secure archival and export options
Notifications Sender and recipients | Status emails on each event

How Electronic Submission Typically Flows

A concise view of the typical digital submission path for a completed migration form.

  • Upload Document: Sender uploads the completed PDF or template.
  • Place Fields: Add signature, initial, and date fields for each signer.
  • Invite Signers: Send secure links or email invites to client and reps.
  • Deliver to Custodian: Transmit signed packet to both losing and receiving custodians.

Technical Considerations for eSubmission

Confirm integrations, accepted file formats, and authentication methods before sending the form to custodians.

  • File Formats: PDF, DOCX and scanned images are widely accepted.
  • Integrations: CRM and custodial integrations reduce manual uploads.
  • Authentication: Email, SMS code, or stronger identity proofing per custodian.

Ensure the platform you use supports audit trails, secure storage, and export of signed PDF/A records so custodians can accept electronic packets without rekeying.

Typical Timelines and Processing Expectations

Timing depends on custodian policies, asset types, and whether additional guarantees or notarization are required.

Form Submission Timing:

Provide the completed form immediately upon request to avoid processing delays.

Custodial Processing Window:

Many custodians process ACAT transfers in approximately 3–10 business days; exceptions depend on assets and holds.

Partial Asset Transfers:

Partial transfers may take longer when in-kind assets require manual reconciliation.

Medallion Guarantee:

Obtain promptly when required; wait times vary by bank and branch.

Follow-up Period:

Expect custodial confirmation or exception notices within two weeks.

Key Milestones During a Migration

A sequential view of major events from preparation through closure that project teams should track.

01

Preparation

Assemble statements, IDs, and beneficiary information before initiating transfer.

02

Client Authorization

Obtain signed authorization and any required guarantees or notarization.

03

Submission

Send the signed packet to losing and receiving custodians with required attachments.

04

Reconciliation

Monitor for exceptions, confirm final account balances, and close the migration request.

Security and Compliance Features to Include

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Audit Trail: Timestamped events and signer attribution
Authentication: Email, SMS code, or advanced KBA options
Certifications: SOC 2 Type II; ISO 27001; PCI DSS
HIPAA Handling: BAA required for PHI workflows
ESIGN / UETA: Complies with ESIGN and UETA standards

Essential Sections of a Professional Migration Form

A structured form reduces exceptions. The following sections represent information custodians commonly require for authorization and reconciliation.

Account Authorization

Clear client consent language specifying transfer type and authorization authority. Include printed name, signature, and date to validate intent and attribution for ESIGN/UETA compliance.

Account Details

Include full legal account title, current account number, and receiving account identification to prevent misrouting and simplify custodian reconciliation.

Transfer Instructions

List full instructions: full vs partial transfer, in-kind or liquidate, and any asset-specific handling requirements to guide custodial processing accurately.

Asset Inventory

Provide a detailed asset list with CUSIPs, quantities, and currency where applicable. Ambiguous descriptions increase exception handling and delay settlement.

Tax and Compliance

Indicate taxpayer identification, backup withholding status, and any required forms to prevent hold or withholding on transferred funds.

Supporting Evidence

Attach recent account statements, power of attorney documentation, medallion guarantee if required, and any corporate resolution for entity accounts.

Supporting Documents Commonly Attached

Custodians often require specific documents to verify ownership and authority; include these with the submission to avoid exceptions.

Recent Statement

Most custodians want a current account statement showing the owner and holdings for verification.

Government ID

Copy of a government-issued ID helps confirm client identity during entitlement checks.

Power of Attorney

If an agent signs, attach a valid, signed durable POA or corporate resolution authorizing the signatory.

Medallion Guarantee

Provide a medallion guarantee when the losing or receiving firm requires it to protect against forgery.

Practical Tips to Reduce Processing Time

Adopt consistent preparation and verification practices to lower exception rates and speed custodial acceptance.

Verify identity, names, and account numbers before submission
Confirm legal names match government ID and account records; ensure account numbers and CUSIPs are exact to avoid routing errors, re-submissions, and hold periods that lengthen the migration timeline.
Attach recent statements and authorizing documents every time
Provide the most recent account statement plus any POA or corporate resolutions to preempt custodian requests for proof of ownership and authority, reducing back-and-forth communications.
Use electronic workflows with audit trails
Send signed forms electronically with a complete audit trail showing timestamps, IP addresses, and signer authentication to support acceptance and reduce manual scanning or rekeying by custodians.
Confirm medallion and notarization requirements early
Check both losing and receiving custodians for medallion guarantee or notarization requirements prior to obtaining signatures to avoid rework and additional branch visits.

Common Mistakes That Cause Rejections

  • Entering an incorrect or truncated account number that routes funds to the wrong account and requires manual correction by custodians.
  • Mismatched legal names between ID and account registration leading to verification holds or requests for additional documentation.
  • Forgetting a medallion guarantee or notarization when the custodian requires it, causing the transfer to be placed on hold until the guarantee is obtained.
  • Failing to include updated tax or TIN information, which can trigger backup withholding or delay fund releases during the migration.

Consequences of Inaccurate or Incomplete Forms

Transfer Delays: Processing holds and exceptions
Return of Assets: Assets routed back to origin
Operational Cost: Additional staff time and fees
Tax Exposure: Backup withholding 24%
Regulatory Scrutiny: Increased custodian oversight
Reputational Harm: Client dissatisfaction and attrition

eSignature Pricing and Feature Comparison for Migration Forms

Comparison of common eSignature vendors on starting price, trial availability, bulk send, audit trail, HIPAA compliance, and envelope limits to inform platform selection for migrations.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes Varies
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No envelope cap 100 envelopes/user/year Varies Varies Varies

Real-World Examples of Migration Workflows

Two concise examples show how organizations handle client account migrations and the outcomes they reported after implementing structured, auditable workflows.

Optica Ventures — Brian Fitzgibbons, COO

Optica standardized migration templates and electronic signing to reduce manual input and inquiries.

  • "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."
  • As a result, client-facing teams reported fewer corrections and faster acknowledgements from custodians when complete packets were submitted.

Martin Properties — Tim Martin, Founder

Martin Properties moved to online forms for account transfers tied to property escrow and trust distributions.

  • "I can process and execute all of these documents online with 100% compliance and built-in security."
  • The firm reduced in-person visits and accelerated settlement steps by providing complete signed packets to counterparties and escrow agents.

Who Signs and Approves the Form

Client / Account Owner

The client or account owner provides primary authorization. For individual accounts this is the natural person; for entity accounts it is the authorized officer or representative listed on corporate records and any attached resolution.

Authorized Representative or Custodial Officer

A broker-dealer or custodian officer may need to sign, attest, or stamp the form; third-party agents require a valid power of attorney or medallion guarantee based on the receiving institution's policies.

Frequently Asked Questions and Troubleshooting

Answers to common questions about acceptability, authentication, exceptions, and revocation related to client account migration forms.


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