IAA Form Tutorial

Welcome. In this tutorial, we'll walk through each section of the Allspring Investment Advisory Agreement (IAA) and Information packet. This guide helps ensure every detail is completed accurately prior to collecting the client's signature. Page 1 of the IAA form are the instructions. Refer to this page at any point during your form completion for clarifying information. Page 2 is intentionally left blank. Page 3 of the IAA form are the agreement details. The first section requires identifying the account number and qualifying parties of the agreement. Enter the account number assigned by the custodian. Next, enter the legal name of the managed account owner. For individual or joint accounts, provide the individual’s full legal name. For IRAs, the client name should be the individual's legal name, not the account name. For example, you would enter John Smith, not John Smith IRA. For entities, provide the official legal name of the entity as it appears on governing documents. Important: Trustees or authorized signers are not the owner of the entity account—the entity itself is. Below the client name, you'll find that the sponsor name and custodian have been pre-populated. Below the agreement fields on page 3, you'll see the full terms of the Investment Advisory Agreement, which continue through page 7. These pages are for informational purposes only and do not require any input, so they won't be covered in this tutorial. Page 8 starts the client acceptance section. This is where the client is identified and officially accepts the terms of the Allspring Investment Advisory Agreement through signature. The only fields requiring input are located under the client section, as highlighted here. Although they are self-explanatory, we’ll briefly cover them. The name field should be the name of the entity owners or authorized signers. The title of the client or clients is only applicable to entities, not individual accounts. For example, sufficient titles would be trustee, manager, or owner. The signature should be that of the corresponding entity, owner, or authorized signer. Then, input the date of the client signature. This completes the client acceptance fields requiring input on this page. The fields appearing directly below the Allspring Funds Management, LLC header are intended solely for use by our review team and should remain blank. Page 9 contains a selected strategy and schedule of fees. The selected strategy and the fee are pre-populated based on your prior strategy selection. Please review the fee structure with your client and ensure that the correct investment strategy and the applicable fee rate are listed. Page 10 begins the schedule B. We’ll cover sections 1A and 1B first. Section 1A and 1B make up the managed account registration information. Section A requires you to select the type of managed account to be registered. Only one account type should be selected. For a trust, ERISA plan, corporation, LLC, partnership or tax-exempt organization, documentation will be required. You will need to submit a copy of the documents that identify the legal entity and indicate individuals authorized to act on behalf of the managed account. Make sure to gather the required documents prior to submission. Section B requires the details for account registration. The managed account registration field would be the account’s legal name. For an individual account, you would enter the client's legal name. For an IRA account, the format would be client name, comma, IRA. For a trust, the registration must match the trust name exactly as it appears on legal documents. For other entities, it would also be required to match the entity name exactly on legal documents. The date of birth field would only be required for personal accounts and IRAs. It would not be required for entities. The residential address would be the physical street address for personal accounts, IRAs, and trust. For other entities such as an LLC or corporation, you'd enter the street address where the physical place of business resides. Please note the residential address cannot contain a P.O. box. Page 11 continues schedule B with sections 1C and 1D that we’ll cover now. The requirements of this section vary based on the type of managed account. Section 1C is requesting the details of the sole primary owner or trustee, as well as the secondary owner or trustee, if applicable. The details of the primary owner start with providing the full legal name, which includes the first name, middle initial, and last name. The social security number and date of birth are required as well. The residential address should only be provided if it is different from the managed account registration address provided in section 1B on page 10. The occupation field is one of the most common reasons registrations are delayed, so it's important to be as specific as possible. Please enter a detailed description of the occupation. For example, manager is too vague while manager of sales and acquisitions for Company Name, Inc. provides the necessary clarity. If the client is retired, do not enter retired as the occupation. Instead, it is required to list the client's occupation prior to retirement. Avoid using entries such as not applicable, N/A, or none as these will surely cause delays. Lastly, be sure to choose the appropriate citizenship from the dropdown menu. Options include United States and other. This field is required. The secondary owner fields are only required if it's a joint account or if the account has multiple trustees. Follow the same instructions for the secondary owner or trustee as used for the primary. For additional owners or trustees, include the details on a separate sheet and submit it with this form. Section D is used to add authorized signers for entity accounts. The section does not apply to individual, IRA, joint, or trust accounts. However, it is required for publicly traded companies, corporations, LLCs, partnerships, and tax-exempt organizations. Page 12 finalizes schedule B with sections 2 and 3. This page begins with section two of schedule B, the custodian and financial advisor information. The custodian name will be pre-populated. You'll then provide the financial advisors full name, firm name, address, phone number, and email. If the advisor has an assistant, please provide their name and email address as well. The second half of page 12 is section 3. The client investment profile must be fully completed as these fields are required. Missing information will cause delays in processing. Section 3A of schedule B is the investment strategy and initial funding amount details. The name of the strategy will be pre-populated. Next, specify the initial funding amount. If funding received is not within 5% of the initial funding amount, additional financial advisor confirmation is required and could cause investment delays. Next, indicate if the account will be funded with all cash. This is especially important for direct indexing strategies. For tax status, choose the appropriate tax status from the dropdown menu. The options are taxable or nontaxable. Sections C, D, and E are required for all Allspring suitability reviews. For the investment objective, choose the most appropriate option to describe the client's investment objective from the dropdown menu. Options include income, short-term growth, and long-term growth. The time horizon indicates the expected time horizon for investments from the dropdown menu. Options include less than 3 years, 3-to-5 years, 6-to-10 years, and more than 10 years. For risk tolerance, choose the client's risk tolerance level from the dropdown menu. Options are conservative, moderately conservative, moderate, moderately aggressive, and aggressive. Section 3F is where the client's financial information will be recorded. This section is required for KYC/AML submission. Section 3G should only be completed if there are any notable account restrictions, such as prohibitions on holding shares of companies where the client is a director. With the form complete, we'll now review the information entered and walk through the final submission steps. Review the agreement and fee schedule with your client. Confirm accuracy and correct any errors. Obtain all required client signatures. Return the signed form and supporting documents including the IAA form, the client questionnaire, and any legal documents required. Please send a single email to our Managed Accounts Onboarding team at MAOnboarding@allspringglobal.com and keep the applicable documents as separate attachments in the email. Please note Allspring will not accept third party forms in lieu of required legal documents. There are no exceptions. Once the account is approved and the countersigned agreement is received, you may initiate the setup with your sponsor. Once the account is approved and established at Allspring and the sponsor, and funding is received via our custodial feed, trading will begin. Note: Initiating and incepting the account at the sponsor before Allspring approval can cause significant delays. That concludes this tutorial. For any questions or assistance on this form, please reach out to the Allspring SMA team at smacustomization@allspringglobal.com. Thank you.