Service Level Updates

Suitability Update: 

Suitability is nearly back to normal! If your advisors use e-App that app skips New Business and goes right to suit. Our suitability team is confident that by the early part of next week that suit review will be back to within “normal” timeframes. It’s been a while so for those wondering – 3-5 business days for suit review. We may still have a couple of those very complex cases that will be outliers, but the bulk of the business will be back within standard. The best part of this is that once suit is approved, we can begin the process of requesting the funds so we can get that business moving again.

New Business Update:

If your advisors are using paper, they are still taking about 11 business days to key that in and get it to suit. Suit would still be within standard once there but if you want to avoid those 11 BD’s, e-App will be the way to go. A lot of the backlog here is about the NIGO requirements coming in on all these paper apps. This is where we’re still seeing the most delays – getting requirements in and reviewed. Keep in mind we process in the order it was received so it comes in and hops on the virtual conveyor belt and it’s looked at that item comes up. Another reason we are so fond of e-App. New Business has a new class of reviewers that are processing right now and working their way up to full efficiency. We have another group that will start processing within the next two weeks, and we have a large group starting in early October. When we said we’ve been hiring monthly, we really have been!