Bookends Financial Planning

FAQ

Account & Terminology Services

How do I access my accounts?

Clients have the option to receive paper or online statements. Client Access allows clients online access to view accounts, access statements and tax documents, view financial planning and more.

How do I add/withdraw funds from my account?

For a distribution, you can request a check or we can link your bank account for easy movement of funds. In some cases, a form may be required for a distribution. For deposits, a check can be issued to Raymond James or we can request funds from a linked account. You can also set up automatic withdrawals or deposits. We will always have someone available to answer the phone and handle requests. For your security, we cannot accept financial transaction requests via email or voicemail.

What is a RMD?

Required Minimum Distributions (RMDs) are withdrawals that the federal government requires an IRA participant to take annually from his/her Traditional IRAs after he/she reaches age 72. A participant can withdraw more than the required minimum from the IRA in any year if he/she wishes, but if he/she withdraws less than required, a penalty tax will apply to the remaining required amount not withdrawn. RMDs are calculated to dispose of the entire interest in the IRA over a specified period of time. In addition to Traditional IRAs, most employer-sponsored retirement plans are subject to the RMD rules. Roth IRAs, however, are not subject to this rule. A participant is not required to take any distributions from a Roth IRA during his/her lifetime.

What is a TOD?

A Transfer on Death (TOD) is a legal agreement to facilitate the transfer of assets to his or her heirs upon death. TOD allows assets to be divided equally among beneficiaries or according to percentages determined by you. Investment assets will bypass probate and be transferred directly to specified heirs. Ask your adviser if this option is right for your estate.

Can I add a checking account/VISA to my brokerage account?

For added convenience, a checking account and/or VISA debit card can be added to a brokerage account. Fees may apply, discuss details with your adviser.

What is being done to protect my information?

We take protecting your confidential information very seriously. Our Privacy Policy can be found here and a paper copy is available upon request. Our Custodian, Raymond James has a robust program designed to reduce your risk of a compromise including encryption solutions, secure remote access, antivirus protection and a cyber threat response team. We take additional steps in the office by having updated security on internet services, server backup services, secure document disposal and a security alarm system.

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