Deposit/Withdrawal
Update Your Account
Personal Information
Account Authorization
Account Enhancements
Legal Documentation
How To Read Your Statement
UMB Financial Corporation Privacy Statement
National Financial Services LLC Privacy Policy
Fidelity Funds Privacy Policy
SIPC Protection
Frequently Asked Questions
- Transfer Assets
- From Another Financial Institution
You can transfer cash and most securities from another financial institution to UMB Financial Services, Inc. by completing the Transfer of Assets (.pdf) form and including a copy of your most recent statement from the financial institution you are transferring from. When transferring assets from another financial institution, the account registrations must match. If the account registrations do not match, you must establish a new account with the same registration as the account being transferred to UMB Financial Services, Inc. Your completed form must be signed and mailed to us before your transfer can be initiated.
- Send A Check
- Non-retirement account
When adding funds to your non-retirement account by check, please make the check payable to UMB Financial Services, Inc. and write your account number in the memo portion and mail the check to:
UMB Financial Services, Inc.
928 Grand Boulevard
Kansas City, MO 64106
- Retirement account
When adding funds to your retirement account by check, please make the check payable to UMB Financial Services, Inc. and write your account number in the memo portion, as well as the contribution year for the funds you are depositing. You can mail the check to:
UMB Financial Services, Inc.
928 Grand Boulevard
Kansas City, MO 64106
Back to Top
From time to time you may want to update your personal information or make changes to the features on your brokerage account. All changes must be made in writing in order to meet industry regulations and to prevent unauthorized changes from being made to your account.
Please note that written changes may require signatures of all account holders.
When you download the forms below, you will receive a file containing the latest version of the form in Adobe Acrobat file format (PDF). To view and download the forms, you must have Adobe Acrobat Reader. It is free and easy to download.
Back to Top
- Change of Address/Telephone Number
If you need to update your address or telephone number, please download, print, complete and sign the form and send it back to UMB Financial Services, Inc.
- SSN/TIN Certification
If you need to update or add a Social Security or Tax Identification Number*, please download, print, complete and sign the form and send it back to UMB Financial Services, Inc.
* Please note, when you provide your SSN/TIN and sign your original application with UMB Financial Services, Inc., your SSN/TIN are certified. Redemptions made without a certified SSN/TIN are subject to a 31 percent withholding, as per The Tax and Equity Fiscal Responsibility Act of 1982.
- Foreign Status Certification
If you are not a citizen or resident of the United States, UMB Financial Services, Inc. must have a Certificate of Foreign Status on file for your account. This information is required for U.S. tax withholding purposes on income earned in your UMB Financial Services account. Please download, print, complete and sign the form and send it back to UMB Financial Services, Inc.
- Beneficiary Update
If you need to update the beneficiary information on your non-retirement or retirement account, download, print, complete and sign the form and send it back to UMB Financial Services, Inc.
Back to Top
If you want someone else to have trading authority on your brokerage account, you may establish full trading authorization or limited trading authorization.
- Full Trading Authorization
If you want to give someone authority to buy and sell securities as well as withdraw money from your brokerage account, download, print, complete and sign the form and send it back to UMB Financial Services, Inc.
- Limited Trading Authorization
If you want to give someone authority only to buy or sell securities in your brokerage account, download, print, complete and sign the form and send it back to UMB Financial Services, Inc.
Back to Top
- Electronic Investing Acknowledgement
If you would like to have Internet access on your existing brokerage account, please download, print, complete and sign the form and send it back to UMB Financial Services, Inc. Once we receive the information, we will notify you by email regarding your ID number and instruct you to call us back for the release of your PIN number.
- Option Agreement
Subject to approval, UMB Financial Services, Inc. offers its brokerage account holders options trading ability. The Options Account Request Form (.pdf) discloses the terms and conditions that govern options trading. You should also read, "Characteristics and Risks of Standardized Options" (.doc) before you begin trading options.
Based on financial information, investment experience and investment objectives, customers are approved for different levels of options trading. The available option levels at UMB Financial Services, Inc. include:
| |
Option Level 1 |
Option Level 2 |
Option Level 3 |
Option Level 4 |
Option Level 5 |
| Covered equity call writing |
X |
X |
X |
X |
X |
| Purchase of equity and index calls and puts |
|
X |
X |
X |
X |
| Purchase of equity and index straddles or combinations |
|
X |
X |
X |
X |
| Covered put writing |
|
|
X |
X |
X |
| Equity Spreads |
|
|
X |
X |
X |
| Uncovered writing of equity options |
|
|
|
X |
X |
| Uncovered writing of equity straddles or combinations |
|
|
|
X |
X |
| Index spreads |
|
|
|
|
X |
| Uncovered writing of index options |
|
|
|
|
X |
| Uncovered writing of index straddles or combinations |
|
|
|
|
X |
Please note that if you choose Level 3, 4 or 5, a Margin Agreement is also required.
- Margin Disclosure Statement
UMB Financial Services, Inc., is furnishing this document to you to provide some basic facts about purchasing securities on margin, and to alert you to the risks involved with trading securities in a margin account. Before trading stocks in a margin account, you should carefully review the margin agreement. Please contact UMB Financial Services, Inc. regarding any questions or concerns you may have about margin accounts.
When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from your brokerage firm. If you choose to borrow funds from your firm, you will open a margin account with the firm. The securities purchased are the firm's collateral for the loan to you. If the securities in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account.
It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:
- You can lose more funds than you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities or assets in your account(s).
- The firm can force the sale of securities or other assets in your account(s). If the equity in your account falls below the maintenance margin requirements or the firm's higher "house" requirements, the firm can sell the securities or other assets in any of your accounts held at the firm to cover the margin deficiency. You also will be responsible for any short fall in the account after such a sale.
- The firm can sell your securities or other assets without contacting you. Some investors mistakenly believe that a firm must contact them for a margin call to be valid, and that the firm cannot liquidate securities or other assets in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin call, the firm can still take necessary steps to protect its financial interests, including immediately selling the securities without notice to the customer.
- You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. Because the securities are collateral for the margin loan, the firm has the right to decide which security to sell in order to protect its interests.
- The firm can increase its "house" maintenance margin requirements at any time and is not required to provide you advance written notice. These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the member to liquidate or sell securities in your account(s).
- You are not entitled to an extension of time on a margin call. While an extension of time to meet margin requirements may be available to customers under certain conditions, a customer does not have a right to the extension.
Subject to approval, UMB Financial Services, Inc. offers its brokerage account holders margin trading ability. The Margin Agreement discloses the terms and conditions that govern margin trading.
- Equity Dividend Reinvestment
If you would like to have your stock dividends reinvested, please download, print, complete, and sign the form and send it back to UMB Financial Services, Inc.
- Money Market Attachment
If you would like to add a money market mutual fund to your existing brokerage account, please download, print, complete, and sign the form and send it back to UMB Financial Services, Inc. When a money market mutual fund is added to your account, you will start earning dividends on the monies held in your account. Money market mutual fund dividends are paid on the first business day of the following month on the monies held in your account.
Back to Top
- Stock Power
Please download, print, complete and sign and send the form to UMB Financial Services, Inc. with your stock certificates.
- Use of Certificate
The Use of Certificate is used when your brokerage account is set up individually and your stock certificate is registered jointly, or when your brokerage account is set up joint tenants and your stock is registered individually. Please download, print, complete, sign and send the form to UMB Financial Services, Inc. along with your stock certificates.
- Corporate Resolution
A Corporate Resolution is needed when the stock you are depositing is registered in the name of a corporation and is being deposited into a corporate account. Please download, print, complete, sign and send the form back to UMB Financial Services, Inc.
- Non-Corporate Resolution
A Non-Corporate Resolution is needed when the stock you are depositing is registered in the name of a nonprofit organization. Please download, print, complete, sign and send the form back to UMB Financial Services, Inc.
Back to Top
A single consolidated statement gives you the convenience of having all of your investment activities in one place, and helps you save time and manage your money more efficiently. For easy budgeting, expense planning, and simplified tax preparation, your new statement will provide you with:
- Current period transaction activity
- Cost basis and gain/loss information for open-end mutual funds
- Positions in your account grouped by investment type
- Detailed information about your investments
View the special features to see how much easier your personal money management can be.
Back to Top
We believe that you, the investor, are entitled to have complete confidence in the safety and security of your accounts. That's why we have provided you with this description of the various ways in which your securities and cash are protected while held at National Financial Services LLC through your broker.
Supported by an Industry Leader
Your brokerage firm has entered into a securities clearing relationship with an industry leader, National Financial Services LLC (NFS), one of the industry's leading clearing firms. Established in 1982 to process securities transactions and hold securities for brokerage customer accounts, NFS is a Fidelity Investments company. Fidelity is one of the country's leading providers of financial services, with managed assets as of September 30, 1999, totaling over $833.8 billion.
Asset Protection from the Securities Investor Protection Corporation
SIPC was created by Congress in 1970 to protect customers of member broker/dealer firms. SIPC is a non-profit membership corporation which is funded by broker/dealers who are required by law to be members. The SIPC Fund has a $1 billion line of credit with a bank consortium, and can borrow up to $1 billion more from the U.S. Treasury, through the SEC.
Customers of a SIPC covered firm are afforded special benefits under the Securities Investor Protection Act of 1970 (as amended). Since National Financial is a member of SIPC, assets in your brokerage account are protected by SIPC.
Within certain limits, SIPC protection covers both investor securities held by National Financial and cash on deposit for the purpose of purchasing securities or as a result of the sale of securities. Of course, SIPC does not protect against a decline in the market value of securities.
The maximum SIPC protection is $500,000 for covered accounts. Cash balances awaiting re-investment are protected up to $100,000 which is included in the $500,000. These limits are on a per customer basis as defined in the Securities Investor Protection Act (SIPA). Most types of securities held in a brokerage account at NFS are protected, including stocks, bonds, notes, debentures, certificates of deposit (CD's) and mutual funds held with the SIPC member.
Unlimited Protection for your assets
In addition to the SIPC coverage of $500,000 (cash claims limited to $100,000), your assets held at NFS enjoy unlimited coverage from supplemental account protection through the Asset Guaranty Insurance Company.
Asset Guaranty Insurance Company has an AAA rating (the highest) from Duff & Phelps and an AA rating from Standard & Poor's. Asset Guaranty was chosen to provide coverage in excess of SIPC protection because NFS believes it offers the best combination of service and value. Remember, this account proctection does not cover declines in market value of securities.
Insurance Coverage
Additionally, National Financial maintains Financial Institution Bond coverage in the amount of $100 million. The Bond covers losses resulting from employee dishonesty, robbery, and mysterious disappearance of securities. National Financial also maintains Electronic and Computer Crime Insurance coverage to protect against losses resulting from certain fraudulent acts committed by a third party.
Back to Top
|
Customer Service
