Opening Accounts and Building the Customer Profile

The second Series 22 chapter covers what happens before the recommendation is approved. The representative has to explain account types, gather required documents, collect a usable customer profile, and obtain supervisory approval to open the account. This chapter matters because DPP recommendations are especially weak when the customer’s profile is thin or outdated.

Read this chapter as the account-setup and customer-understanding layer of the DPP workflow. Start with account-type and disclosure issues, then move through documentation, customer-profile analysis, and approval requirements.

In this section

• Account Types and Required Disclosures
  Review account-type selection and the disclosure obligations that accompany DPP account opening on Series 22.
• Customer Information, Documentation, and Legal Forms
  Learn how Series 22 tests the collection and maintenance of customer facts, legal documents, and required account records.
• Investment Profile, Sophistication, and Eligibility
  Review the customer-profile analysis that Series 22 uses to test DPP suitability and eligibility judgment.
• Supervisory Approval To Open Accounts
  Learn the approval logic that Series 22 expects before DPP account opening and sales activity can move forward.