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Financial Account Transfers

* Page referenced in this article: financial account transfers page .

Use Transfer money to move production dollars from an issued AUM or annuity account to a pending or forecasted account on the same contact. This is useful when a client replaces an annuity, moves funds into AUM, or allocates production to a planning account.

Supported Transfer Types

• AUM → AUM
• AUM → annuity
• AUM → FPO
• Annuity → annuity
• Annuity → AUM
• Annuity → FPO

How to Transfer Money

1. Open an issued AUM or annuity account with an issued amount greater than zero.
2. Click Actions → Transfer money.
3. Select the pending or forecasted AUM, annuity, or FPO account that should receive the transfer.
4. Enter the transfer amount.
5. Click Transfer.

What Happens After a Transfer

• The issued amount is reduced on the source account.
• The transferred amount is added to the destination account.
• A transfer record is added under Financial Accounts → Transfers.
• Transfer alerts appear on both accounts showing money sent or received.
• Company and advisor commissions are recalculated for the affected accounts.

You can view transfer history from the financial account transfers page or from the Transfer List button on the Financial Accounts page.

Reverse a Transfer

To reverse a transfer, go to Financial Accounts → Transfers, find the transfer, and delete it. This moves the amount back to the source account when reversal is allowed.

A transfer can be reversed only when the destination account is still pending or forecasted and the source account is not canceled.

Rules and Limitations

• The source account must be an issued AUM or annuity account.
• The source account must have an issued amount greater than zero.
• The destination account must be a pending or forecasted AUM, annuity, or FPO account.
• The source and destination accounts must be on the same contact.
• FPO accounts can receive transfers, but they cannot be used as the source account.
• The transfer amount cannot be greater than the source account's current issued amount.
• Accounts with active transfers cannot be deleted until the transfer is reversed.

Permissions

Users need the Transfer amounts between accounts permission to transfer money between accounts. Users also need the View account transfers permission to view the transfers list.