Hello,
I have a client looking to implement roth conversion.
The new roth IRA will be held at a different institution than his current custodian.
What’s the process of the actual conversion.
Does the client open a Roth IRA with a new institution, complete a transfer request, then the new institution sends LOA and request over to the old custodian, money gets transferred, and the new custodian records it as roth conversion?

Or does anything have to be done at the current custodian?

Thank you so much!