Where NIGO happens
NIGO is most familiar in wealth management and annuities, where advisory firms and brokers send applications, transfer forms and money movement requests to a custodian or carrier. Common causes include a missing signature, a mismatched name and an outdated form.
Why it matters
A rejection restarts the paperwork, delaying the account opening or transfer and costing staff time. It also shapes the client's first experience of a new advisor, so firms track their NIGO rate.
Where the work is
Preventing NIGO means checking each form against requirements that differ by custodian, account type and transaction. Service teams carry much of that knowledge in their heads and checklists, which works until volume rises or experienced staff leave.
Where automation helps
A system can prepare forms from the client's records and check each against the receiving institution's requirements before submission, catching the common causes of NIGO and leaving unusual cases to a person.