Closing a client

The 'Close Client Account' feature enables you to effortlessly close a client account along with all underlying accounts, provided specific criteria are met.

Criteria for Closing a Client Account:

1. No open positions
2. No cash balance
3. No pending accruals
4.  Not linked to a model in Model Manager (if applicable)

How It Works:

To close a client account, follow these steps:

1. Close any open positions across all accounts.
2. Book and transfer out any pending accruals, such as corporate actions and financing, to the client's account. Remove the fee profile linked to the account(s).
3. Transfer out any cash balance from all accounts.

Once these actions are completed, accounts eligible for closure can be easily identified by the 'Close Account' link.

This process includes an option to download required reports before closing the account, ensuring you have all necessary documentation for record-keeping or compliance needs.

At the end of the closure process, a case ID is generated for reference, allowing you to track and access additional details through case management. Please note that account closure can take up to three to four business days.

For any questions or further information regarding the close account functionality, feel free to contact us via Case Management.