The first step to establishing a brokerage account is to determine which account best suits your investment choices and goals. Once you have chosen which type of account you wish to open, simply download the application, complete it and return it by mail or drop it off at any UMB banking center near you.
All of UMB Financial Services' documents and forms are available to view on this site or by using Adobe Acrobat Reader (for .pdf files). If you do not have Acrobat Reader, you can download a free copy of it now.
Standard Accounts
Individual Retirement Accounts
Specialty Accounts
There is no minimum, initial deposit to open any of the following accounts.
Individual
A standard brokerage account in the name of one owner. Upon the death of the owner, all property is passed to the account owner's estate.
Joint Tenants
A brokerage account in the name of two or more account holders. There can be as many as six joint tenants on each brokerage account. The two most common joint accounts are Rights of Survivorship and Tenants in Common.
- Rights of Survivorship - Upon the death of one account holder, the entire interest in the joint account will be vested in the survivor(s).
- Tenants in Common - Upon the death of one account holder, their interest will go to their estate.
Uniform Transfer to Minors Act (UTMA)
A brokerage account for the benefit of a minor with a person over the age of 18 as custodian.
Transfer on Death (TOD)
A brokerage account in the name of one or two account holders where the account holder may designate up to four beneficiaries. Upon the death of the account holder, or the death of the last surviving account owner in the case of a joint account, all assets are transferred to the beneficiaries. In the case of a joint TOD, if one account holder dies then all assets are transferred to the remaining joint account holder. If the beneficiary predeceases the account holder then all assets are transferred to the remaining beneficiaries. If there are no beneficiaries remaining, then all assets go to the account holders' estate.
Trust
A brokerage account where account holders are given fiduciary power via a trust agreement.
Corporate
A brokerage account in the name of a corporation with certain officers having authority to act on behalf of the company.
Non-Incorporated Organization
A brokerage account in the name of a nonprofit organization such as a school, church, foundation or association.
Partnership
A brokerage account for two or more account owners who have an established partnership agreement.
Investment Club
A brokerage account where a group of individual investors pool their money and make joint investment decisions.
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The minimum initial deposit is $100 in cash/securities. Before you establish an IRA account, please read the IRA Agreement and Disclosure Statement (.doc).
Traditional IRA
A Traditional IRA allows an individual to contribute up to $4,000 and if the individual is over the age of 50 they may contribute $4,000 plus an additional $500. The individual can contribute to their IRA account until the account owner reaches the age of 70 1/2. Taxable distributions from an IRA can be taken without penalty starting at age 59 1/2 and must be started by April 1 after the individual has reached 70 1/2.
Rollover IRA
A Rollover IRA is used to reinvest eligible distributions from an employer-sponsored retirement plan. Moving funds into a Rollover IRA allows the account owner to return the funds to another qualified retirement plan in the future.
Roth IRA
Roth IRA contributions are not tax deductible. However, earnings accumulate tax-free and remain tax-free upon distribution. You cannot withdraw your funds within the first five years after the establishment of the Roth without a penalty.
Simplified Employee Pension (SEP)
A SEP is a simple, low cost retirement plan that is easy to set up and administer. A SEP IRA is established and funded by the employer and the employer can put up to 15 percent of your compensation into a special IRA account. Sole proprietors may establish these plans for their own benefit.
For more information please contact your registered representative or visit one of our convenient locations.
Savings Incentive Match Plan for Employees (SIMPLE)
The Small Business Job Protection Act of 1996 created a new simplified retirement plan for small employers called the SIMPLE plan. A SIMPLE plan offers many of the same benefits as a 401K, such as the ability for employees to build their own tax-deferred retirement accounts through payroll deductions.
For more information please contact your registered representative or visit one of our convenient locations.
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A minimum initial deposit of $10,000 in cash/securities is required.
UMB Asset Mangement Account
Imagine all of your financial relationships brought together in one easy-to-manage account - mutual funds, stocks, bonds, check writing and loans. What if you could keep track of it on one easy-to-read monthly statement? Introducing the UMB Asset Management Account from UMB Financial Services Inc., a comprehensive management account bringing together the best features of banking and investment.
The UMB Asset Management Account offers you convenience, control and borrowing power. The daily sweep of available funds into your choice of money market mutual funds means your money is always working harder for you, earning competitive rates. It also streamlines your paperwork and makes it easier to monitor and manage your assets, making the most of your time and your money.
All trade settlements are done automatically through the account. Dividend and Interest payments are immediately credited to the account to ensure your money is constantly working for you.
The consolidated statement details brokerage activity, checking and check card activity. All of your financial details are on one easy-to-read statement.
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Account Types & Online Applications
