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The Transition Timeline

June 6 - June 23, 2022

Your accounts will transition during this time frame, but we’re unable to provide you the exact date of transition.RBC Transition Timeline

The timeline outlined above is based on industry standards. Your account(s) may transfer faster or slower based on a number of factors. Timing is subject to change.

Key Transition Details

  • We will initiate account transfers each business day during the transition timeframe. 
  • Your account(s) could transfer at any point during this timeframe. 
  • Your account(s) should transfer within the industry standard of 7-9 business days.
  • During this process, you will still have access to view your account(s) via our website, Wealth Management & Trust. Contact your JFG advisor if you don’t have access.

 

How To Tell When Your Account(s) Has/Have Transitioned

  • Pre-transition, your account numbers are reflected as 923xxxxxxG (reporting group) and 923xxxxxx (accounts) in Wealth Management & Trust website.
  • Once your account number(s) is/are updated to RGxxxxxxx (reporting group) and YAVxxxxxx (accounts) on the website, your account(s) is/are live with BNY Mellon | Pershing.

 

June Distributions

  • If you have scheduled distributions during in the month of June, you should have received payment the first week in June
  • If you have any cash needs or questions on distributions, please contact your Johnson Financial Group Advisor.

How To Read Your New Investment Account Statement

Starting in July, you will receive your new, award-winning investment account statement for June. With an enhanced, modern design, you will be able to easily understand and manage your investments. You can access your statements online through Wealth Management & Trust anytime, anywhere. Click on the link below to download a how to read your new statement guide.

If you don’t have access to Wealth Management & Trust, contact your Johnson Financial Group Advisor to enroll today.

 

Accessing Historical Documents

If you currently have access to RBC Clearing and Custody’s online portal, you will continue to be able to access your historical documents as long as you maintain your User ID and Password.

If you have any issues with your access to RBC’s portal, please contact the RBC Client Service Team at 612.607.8903 or by email clientservice@rbc.com.

Automated Communications

As we’ve communicated previously, you may receive automated communications from time to time from BNY Mellon | Pershing under the email address: donotreply@digital.johnsonfinancialgroup.com.

Click here to view examples of these automated communications, like the availability of statements and other account-related activities.

While no action is required with these automated communications, if you want to review them during the transition period, you will need to set up access to BNY Mellon | Pershing’s website.

Click here to view instructions on how to set up access.

Once your assets are live at BNY Mellon | Pershing, you will be able to view all account related information in our Wealth Management & Trust portal.

What This Means To You

After a thorough and rigorous vetting process, we are confident BNY Mellon | Pershing will help us continue delivering the highest level of service and expertise to you. Key benefits of this transition include:

Key Benefits

  • The relationship with your Johnson Financial Group team will not change

  • A more personalized experience that will help empower you to make informed financial decisions

  • Greater ability to support complex planning needs with expanded investment options

  • Award winning, easy to understand statements and transaction reports

  • Streamlined proxy process

  • Ability to move funds intraday between bank and wealth accounts

  • No transaction fees

  • Industry leading platform that safeguards your personal financial information

  • View iCapital Holdings

Description

  • Please know that your relationship with Johnson Financial Group will not change. You will continue to work with the advisors you know and trust.

  • A more personalized experience that will help empower you to make informed financial decisions With the transition to BNY Mellon | Pershing, we will be able to provide a more personalized experience that will help empower you to make informed financial decisions by:

    1. Enhancing the online experience for you, including access to real-time holdings and transaction information. You will be able to view various documents such as statements, trade confirms, tax documents and account notifications.
    2. Providing more consistent, modern reporting of our investment recommendations crafted based on your goals.
    3. Putting your money to work faster by simplifying the process to open your account(s) and quickly address any issues that may arise with your account(s) over time.
  • We will be able to better support more complex planning needs with an expanded offering of Mutual Funds, ETFs and Donor Advised Funds (DAFs). A DAF is a simple, tax-smart solution for charitable giving.

  • BNY Mellon | Pershing's award-winning statements and transaction reports will assist you in better understanding and managing investments. Key benefits, include:

    1. The ability to access all your statements and reports through our Wealth Management & Trust portal
    2. Statements will more clearly define taxable and non-taxable investments to assist with annual tax planning
    3.  An enhanced, modern design to make it easy to understand and manage your investments.
  • Johnson Financial Group will assume voting on your behalf for all managed investments effective with the transition of your assets to BNY Mellon | Pershing. Our team of professionals will thoroughly review shareholder materials and vote with your best interests in mind. This will enable you to concentrate on what's most important to you.

  • With the transition to Pershing, you will have the ability to move funds intraday between your Johnson Financial Group bank accounts and wealth checking accounts.

  • You will no longer be charged transaction fees.

  • Access to BNY Mellon | Pershing’s leading-edge technology will help safeguard your personal financial information by staying ahead of latest cybercriminals.

  • If you have complements (alternative investments) with our partner iCapital as part of your portfolio, you will now be able to view these positions on monthly investment statements. You will also be able to access these statements online through our Wealth Management & Trust portal.

Please know that your relationship with Johnson Financial Group will not change. You will continue to work with the advisors you know and trust.

As part of our ongoing commitment to exceptional customer service, we regularly evaluate our relationships with our third-party vendors and service providers. Firms like ours work with custodians to ensure the safekeeping of client assets, along with administrative services such as processing transactions. Because of the significance of custodial relationships, we believe working with the best custodians is paramount.

RBC Clearing and Custody has provided custodial services to a majority of our client accounts, including yours, for a number of years. While RBC Clearing and Custody has served our clients well, we are excited to announce a new partnership with BNY Mellon | Pershing whom we believe is the best qualified custodian for you going forward.

After a thorough and rigorous vetting process, we are confident BNY Mellon | Pershing will help us continue delivering the highest level of service and expertise to you.

BNY Mellon | Pershing will help us transform our business, maximize efficiency, and manage risk and regulation. They will provide our firm with the scale needed to grow our business through innovative solutions and technology as well as provide more efficient, high-touch customer service.

Key benefits of this transition for you, include:

  • The relationship with your Johnson Financial Group team will not change 
  • A more personalized experience that will help empower you to make informed financial decisions 
  • Greater ability to support complex planning needs with expanded investment options
  • Award winning, easy to understand statements and transaction reports · Streamlined proxy process
  • Ability to move funds intraday between bank and wealth accounts o No transaction fees 
  • Industry leading platform that safeguards your personal financial information 
  • iCapital Holdings

See the What This Means To You section to learn more about the above benefits.

For most of our clients there will not be any tax consequences associated with the transition. There may be certain instances that we need to adjust some aspects of client portfolios due to the transition that may result in tax consequences. For those clients, our team will work to minimize those consequences as best we can.

Yes. We are transitioning client assets from RBC Clearing and Custody to BNY Mellon | Pershing beginning June 6, 2022.

We will begin to transition client assets from RBC Clearing and Custody to BNY Mellon | Pershing on June 6, 2022. Please view specific details around the timing of the transition of account assets within the page above.