FAQs

Financial Planning

Q. Do your advisors have flexibility on what they charge for planning?
Reps do have flexibility on what they charge for a plan with certain limitations based on regulatory requirements.

Q. What planning software do Presidential reps use?
The Envision program is available on each smartstation to reps through FCC based on asset allocation, although some reps have chosen to purchase their own software programs, which is based more on tactical allocation methods.

What your Clients need to know

Q. Can you consolidate statements, with a summary, for a collection of accounts in the same household?
House holding of monthly statements is available for accounts held at FCC. For Clients that also holds assets away from FCC such as Mutual Funds, REITs and Annuities, consolidated statements can be produced through Investigo, an aggregator program that draws information from multiple custodians.

Q. Do annuities show up on the client’s FCC statement? 
All annuities are purchased “application way” and some can be “networked” back into the account, but in general they will not appear on brokerage statement – can be accomplished through Investigo [see Brad for more info]

Q. Do your brokerage accounts offer check writing, ATM or Visa?
Accounts held at FCC can be set to include basic brokerage services, or as an Advantage Account. The costs vary from free to $135/year, depending on the program chosen

Q. What are you annual fees for non-advisory accounts?
The annual maintenance fee for IRA accounts is $35 per year with a $95 termination. In some cases an account may be subject to a $50 inactivity fee if there are less than 2 trades in a year [does not apply to IRA accounts, other exemptions available].

Q. Does the broker have discretion to waive account fees – for instance, if the client has a large wrap (fee based) investment account can we waive fees for a connected checking account?
Brokers get a percentage of fees charged back as “discretionary” funds that they can use to waive these fees. In other cases reps can waive fees at their own expense.

Q. Can clients access their accounts online?
Yes – although it is currently a “read-only” site. Clients can access their balances, account history and other information, but online trading is not currently supported.