EJ Account Types Flashcards
learning what each account allows and doesn't allow.
What type of account includes Individual, Joint, and Individual 529?
Non- Retirement Select
Is Trade authority Allowed in Select Accounts?
Yes
In which account type is trade authority not allowed and requires authorization?
Advisory Solutions Fund & UMA
Do guided Solutions Flex accounts allow trades?
yes, limited and full
What type of accounts can be guided solution flex accounts?(7)
IND.
JOINT
TRAD IRA
ROTH IRA
SEP IRA
SIMPLE IRA
Inh. IRA
What is a flex account?
a cash account, with check-writing functionality, designed for your short-term savings goal
what is a fund account?
you’ll be able to choose from an extensive list of eligible mutual funds and exchange-traded funds (ETFs). Mutual funds and ETFs hold many investments inside of them, providing diversification within your portfolio.
What is the minimum for a fund account?
$5000
What is the minimum initial investment for a flex account?
$25000
What are the types of Retirement accounts?(5)
401K,
Roth IRA (pre taxed),
Trad. IRA (taxed when withdrawn), 403 b (tax advantaged 401k for non profit org employees)
457 plans (tax-advantaged retirement plans similar to 401(k)s, offered by state/ local public employers and certain tax-exempt employers)
What is a custodial account?
an account for a minor that can hold gifts of cash or investments
What does Dollar cost averaging or DCA mean?
means investing a fixed dollar amount at regular intervals.
What is a 529?
investment account that offers tax benefits when used toward qualified education expenses for the account beneficiary.
what is a select account?
Hands-on approach
can include Stocks, bonds,(CDs), mutual funds, exchange-traded funds (ETFs) and annuities
has Flexibility and a $0 minimum
what type of accounts can be a Guided Solutions Fund account?(7)
Ind
Joint
Trad IRA
Roth IRA
SEP IRA
SIMPLE IRA
Inh. IRA
