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Understanding Your First Clearing Statements

Understanding Your First Clearing Statements. Presented by: Matthew J. Curfman, CFP® Senior Vice President of Investment Services Richmond Brothers Financial Management Specialists, Inc. Disclosures.

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Understanding Your First Clearing Statements

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  1. Understanding Your First Clearing Statements Presented by: Matthew J. Curfman, CFP® Senior Vice President of Investment Services Richmond Brothers Financial Management Specialists, Inc.

  2. Disclosures • Matt Curfman is a Registered Representative in the states of MI, AZ, CA, FL, GA, IA, IN, KS, KY, CO, MN, NC, NY, OH, TX • Licensed to sell securities, annuities, & insurance • Affiliated with Sammons Securities Co.®, LLC, member FINRA/SIPC & Midland National • Richmond Brothers Financial Management Specialists, Inc. offers securities through Sammons Securities Co.®, LLC, member FINRA/SIPC

  3. Disclosures • Richmond Brothers offers securities through Sammons Securities Co.®, LLC, member FINRA/SIPC. The broker/dealer for Midland National’s variable products is Sammons Securities Co. Sammons Securities Co. is a registered broker/dealer under the Securities Exchange Act of 1934. Sammons Securities Co. is an indirect wholly owned subsidiary of Sammons Enterprises, Inc., of Dallas, Texas, the ultimate parent company of Midland National.

  4. Disclosures • This material is provided for general and educational purposes only and is not intended as tax, legal or investment advice • There will be an opportunity to schedule an appointment for an individual consultation at the end of this Webinar which may result in a recommendation of specific financial products that may help you achieve your financial goals • There is no obligation to schedule an appointment or purchase a product • First Clearing, LLC, is a Member of NYSE/SIPC. Investment and Insurance Products: NOT FDIC Insured, NO Bank Guarantee, MAY Lose Value Accounts

  5. Agenda • Online access • Linking Accounts • Snapshot View • Detailed View

  6. Online Access • FCC Account Access available through Richmond Brothers’ website: www.richmondbrothers.com • offers real-time account data • downloads into Quicken® and Microsoft® Money • call FCC toll-free at 1-877-488-3748 for step by step directions to set up online accounts

  7. Linking Accounts • Combined snapshot for a more holistic view of accounts • Contact Cindy at cindy@richmondbrothers.com or 517-536-5000 ext. 32 to link accounts

  8. Snapshot View • Summary of activity during previous month • If accounts linked, you will have a combined snapshot Note: sample statements shown may include more information than what you have on your statement, depending on the types of investments in your portfolio

  9. Snapshot View

  10. Snapshot View Explanations Section #1 • Progress summary • provides values for all of the cash flowing into and out of the account along with the change-in-value for the period • Value over time • illustrates your progress during the current year Section #2 • Portfolio summary • categorizes your investments by asset type for the last two periods • shows both dollar values and portfolio percentages • current month’s allocation percentage displayed in the pie chart

  11. Snapshot View

  12. Snapshot View Explanations Section #3 • Cash flow summary • displays all of your cash additions and subtractions, which lets you easily see your current-period and year-to-date cash flow Section #4 • Income summary • provides an overview of the various types of income your account has earned during the current period and for the full year • broken down into taxable and federally tax-exempt categories based on the type of securities you hold • breakout does not occur for IRA accounts Section #5 • Gain/loss summary • displays total realized and unrealized gains and losses • section is included only if your account provides cost basis information on your statement

  13. Snapshot View

  14. Snapshot View Explanations Section #6 • Account profile • overviews important account information, including your Investment objective/Risk tolerance • Contact Richmond Brothers if this section needs to be updated Section #7 • Document delivery status • Shows if you’ve elected to receive electronic or paper statements Section #8 • Market indices • current month end and previous year end are available if this feature has been set to display

  15. Detailed View • Want to know more about your account’s activity and positions • Noticed something in the Snapshot that you would like to know more about

  16. Detailed View

  17. Detailed View Explanations Section #1 • Bond maturity schedule • graph and table summarize the maturity datesand maturing amounts for your account’s fixed-income securities (if set to display) Section #2 • Additional information • appears only if one or more of the categories applies to your account. • can be useful when working with your tax advisor Section #3 • Expense tracking summary • If you code expenses on your checks, you will see exactly where your money goes every month

  18. Detailed View

  19. Detailed View Explanations Section #4 • Portfolio detail • lists cash and sweep balances, stocks and options, fixed-income securities, mutual funds, unit investment trusts, and other assets based on your account’s holdings • all asset classes itemized with a total value, by category, for the current month Section #5 • of Account column • percent held of each individual position in comparison to your entire account value Section #6 • Adj Price/Orig Price, Adj Cost/Orig Cost • identify potentialtax-related opportunities • For securities that include cost basis adjustments, FCC provides the original unit price and original total cost • Please note: this section is included only if your account provides cost basis information on your statement

  20. Detailed View Explanations Section #7 • Estimated Annual Income & Estimated Annual Yield • provided to give you an idea of how muchincome the account will receive Section #8 • Held in Margin • indicates whether any portion of that position is held in your margin account • ticker symbol appears under the description for applicable securities

  21. Detailed View

  22. Detailed View Explanations Section #9 • Reinvestment • indicates that you’ve elected to usedividends and capital gains (mutual funds only) to purchase additional shares Section #10 • S and L indicators • displayed for each tax lot • securities held fewer than 12 months are short-term (S) • securities held longer than one year are long-term (L) • show only if your account provides cost basis information on your statement Section #11 • Annuities/Insurance • provide data received directly from the insurance companies • include variable and fixed annuities

  23. Detailed View

  24. Detailed View Explanations Section #12 • Cash Activity detail • shows the cash flowing into andout of your account since your last statement • Advantage accounts can be listed by date, type or a combination of the two (default is by type) • contact Richmond Brothers to change your display Section #13 • Activity • each type is totaled Section #14 • Amount • displays total transaction value

  25. Detailed View

  26. Detailed View Explanations Section #15 • ATM and CheckCard activity • lists transactions by activity date Section #16 • Withdrawals by check • listed sequentially • include the date paid, check number and payee Section #17 • Expense Code • description, as well as number, is included to help track expenses for budgeting purposes • five standard categories and up to five customized categories to track any expenses chosen Section #18 • Account Type • indicates whether the transaction took place in the cash or margin portion of the account

  27. Detailed View

  28. Detailed View Explanations Section #19 • Non cash activity detail • shows all transfers of positions into and out of the account and provides each position’s value on the transfer day • positions’ valuations help provide an accurate picture of account’s progress Section #20 • Cash sweep activity • shows the sweep that occurs between your account and the cash sweep option, including reinvested dividends and interest Section #21 • Open orders • unfulfilled ordersat month’s end are displayed • help keep track of those orders FCC received but did not yet execute

  29. Detailed View

  30. Detailed View Explanations Section #22 • Realized gain/loss • provides the current-period and year-to-date net gain or loss on securities closing transactions in account • monthly statement will include details of closing transactions only for the statement period • year-end package will contain a recap of detail information for the entire year Section #23 • Adj Price/Orig Price and Adj Cost/Orig Cost • for accounts that show cost basis adjustments, the following items are displayed: the original unit price, original total cost, adjusted unit price and adjusted total cost • is compared to the Proceeds to calculate your realized Gain/Loss Section #24 • Index options • if any were closed during the period

  31. Thank You For more information: www.richmondbrothers.com

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