ACATS/IPS (Automated Customer Account Transfer Service/ Insurance Processing Service) automates the changes in distributors of record for an annuity when clients transfer their accounts from one brokerage firm to another.
ACATS/IPS enables distributors to include annuity assets, along with other securities, when transferring accounts and gives them automated, timely access to important information about their customers’ portfolios. The service also facilitates representative of record and broker-identification number changes within a contract.
Standard Usage