The Hidden Dangers of Custodian Account Alerts: Why Timely Action Matters
While our clients are always eager to unload a variety of tasks to us here at TOI, one of the most common tasks that advisors are happy to get off their plates is checking the custodian account alerts.
We get it! Logging in to find a page full of alerts can be overwhelming. Heck, just the definition of “alert” is alarming on its own: a state of careful watching and readiness especially for danger or opportunity; an urgent notice.
In the above definition, “danger” may seem like a dramatic word to describe account alerts. While we like to keep things lighthearted, there’s nothing funny about the potential risks lurking in those account alerts, and “danger” is a perfect description. When it comes to keeping your clients’ accounts secure, every alert should be treated as a potential red flag.