Purpose Wealth Management

To officially hire Purpose Wealth as your advisor, we ask you to sign a Client Service Agreement. This Agreement spells out the services provided, authority to manage and supervise your account assets, compensation, and other general provisions of our relationship with you.

We will ask you for copies of your current account statements and other pertinent financial documents. We use information from these documents along with answers to questions we ask you directly to complete an account application on your behalf.

We will send you a copy of the completed application for your review and ask you to provide your signature and return it to us by mail, e-mail, or fax.

We then send the signed application to the custodian. Once approved, the account goes "live," ready to receive deposits or securities, and will be accessible online.

This process can occur within 24 hours if necessary.

As part of the new account application process, we will also complete a Transfer of Assets form on your behalf and ask for your review and signature.

Once you return this form to us by mail, email, or fax, we submit it to the custodian along with a copy of your most recent statement from the account you wish to transfer.

Whenever possible, our preference is for you to transfer your existing positions "in-kind" to avoid unnecessary transactions, taxes, time out of the market, etc., allowing us to transition to your new allocation more efficiently.

The transfer process is typically complete within 5 business days.

No. All accounts are opened with custodian paperwork we send to you. Having a Fidelity, Schwab, or TD Ameritrade office nearby, however, does provide a convenient way to to deposit money or securities to your account(s).

Your account can be funded by check made payable to Fidelity, Schwab, or TD Ameritrade, and referencing your account number. A check can be mailed directly to the custodian, or dropped off at a local branch office.

A more convenient method, however, is to establish an electronic link (EFT) between your local checking account and the custodian. This set of "standing instructions" allows you to move money to or from you local checking account via an online money movement feature.

An EFT is complete by the next day.

You can establish bank wire instructions if you need to fund your accounts on a same-day basis.

If you prefer to fund your account on a regular schedule (monthly, quarterly, etc), you have the option to set up direct deposits taken automatically from your local checking or other accounts.

You can withdraw cash from your account by requesting a check payable to you at your address of record, or by electronic transfer or wire to your local checking account if you have "standing instructions" on file with the custodian.

You also have the option to set up a regular series of withdrawals (monthly, quarterly, etc.).