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Account Features

Electronic Investing Acknowledgement
If you would like to have Internet access on your existing brokerage account, please download, print, complete and sign the Electronic Investing Acknowledgement 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 discloses the terms and conditions that govern options trading. You should also read "Characteristics and Risks of Standardized Options" 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 Service Agreement
If you would like to have your stock dividends reinvested, please download, print, complete, and sign the Equity Dividend Reinvestment Service Agreement form and send it back to UMB Financial Services, Inc.

Householding Agreement
Statement householding is a process that will automatically link your brokerage accounts together and send your statements all in one envelope. The consolidated envelope will contain a statement for each account in the Household relationship as well as the Consolidated Summary of Accounts page.

Brokerage Account Earnings Distribution
The Brokerage Account Earnings Distribution form is used to request distributions of dividends, interest and/or capital gains (“earnings”) from your non-retirement brokerage account. The “earnings” from your non-retirement brokerage account will be deposited via EFT into the bank account that you choose.

Transfer of Assets, with Instructions 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 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 should match. If the account registrations do not match, please fill out Section 5 – Registration Differences. The owners of the delivering account must sign this section. Please refer to the Transfer of Assets Instructions page and the section titled “Receiving Account Information and Account Being Transferred” for further instructions. Your completed form must be signed and mailed to us before your transfer can be initiated.

 
Investment Products Offered Through UMB Financial Services, Inc.
Member FINRA, SIPC
 
  NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE  

 

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