A Broker Transfer allows an existing group to move from one book of business to another within the FormFire system. The requesting broker initiates the transfer. The HR Manager then confirms the transfer request. Remember, this automated process takes up to five business days to complete, unless expedited by the outgoing broker. You can initiate the transfer by following these steps.
First, the broker logs into FormFire and selects Initiate Client Transfer from the top of the Client Dashboard.
Next, enter the client's Tax ID number or Employer Code. Once entered, click Initiate Client Transfer.
Confirm the client, contact name and email are correct. If so, click Yes to proceed.
NOTE: If the contact information shown is not correct, or you receive a message that there are no employees in the group, then you must complete a broker transfer by having the client fill out the online broker transfer form.
An automated notification is then sent to the group's human resources (HR) contact, the outgoing broker and the new broker. Please note that the account will not transfer unless the HR contact acknowledges the confirmation link in the email notification.
Once approved, the transfer will be completed in five business days. This mandatory waiting period is a courtesy to allow the former broker time to finish any outstanding business with the group before the transfer takes place. Although we understand requesting brokers may want immediate action, this waiting period cannot be bypassed unless the outgoing broker expedites the transfer by clicking the associated link in the email notification as shown below.
If the outgoing broker doesn't need time to tie up any loose ends, they can click Expedite Link which gives the option to expedite or decline. If expedited, the transfer is effective immediately.
- Related article: How to do a Broker Transfer using the Online Broker Transfer Form