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What will happen to transfer requests of Series D units directly from PH&N or a discount broker dealer to an advisor, given that this type of transfer is no longer allowed?

April 26, 2017broker directly discount requests SERIES transfer units

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What will happen to transfer requests of Series D units directly from PH&N or a discount broker dealer to an advisor, given that this type of transfer is no longer allowed?

1 Answer

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These transfers will be rejected back to the dealer. You should discuss with your client the requirement to convert the Series D units to either Series C or Series F units and modify and re-submit the transfer form accordingly. The client needs to agree to the conversion.