Opening New Accounts I

Patrice Konarik


Patrice M. Konarik, CFP®, is president and founder of Sunwest Training Corp. located near San Antonio, Texas. With over 25 years experience in the financial industry, Patrice has focused her expertise on the retirement and new account areas. In over 20 states, Patrice is considered the top resource for live IRA training seminars and Webinars for thousands of bank and credit union employees each year. She has a BS from New York’s Binghamton University and earned her Certified Financial Planner™ designation in 1990. Patrice has a "down-to-earth", humorous training style and encourages interaction during the training sessions.
Thursday, September 3rd, 2009
10:00 am - 12:00 pm CT
"It's just a little new account job, right?" If that's the case, why do we feel like we are acting as "estate planners" instead of "account opening professionals"? The main reason is, in many states, the signature card and account agreement could possibly override formal documents created outside of the financial institution - for example, wills and trusts. It is imperative that we understand the consequences of "choosing" the correct ownership box to be consistent with the accountholder's wishes - especially at death. In this session, we cover the definition of the ownership boxes for consumer and trust accounts including: titles, ownership, TIN and authorized signers for that ownership and death payouts.

It is highly recommended you have a copy of your financial institution's account agreement nearby to follow along during the session.

This is Part 1 of a two part series. The second session is being held on October 1st. You can attend both sessions or just one.

What You Will Learn:

Understanding Signature Card Contracts and Proper Account Opening Procedures for:

  • Individual and Single Party Accounts
  • Joint and Multiple Party Accounts with and without Right of Survivorship
  • Authorized Signers or Agents on Personal Accounts
  • Power of Attorneys - In House Form and Out of House Form
  • Death of the Account Owner
  • Trust accounts - Informal vs. Formal
  • Minor accounts - including the Uniform Transfer to Minors Act

Plus live question and answer sessions during this presentation.

Who Should Attend?

All customer contact personnel, supervisors and officers whose responsibilities include opening or managing the new account area. Excellent for supervisors or officers who have authority to "waive" documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
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