Wednesday, April 19, 2017
Thank you for being a LOYAL3 customer. We have important news: we've entered into a transaction that will provide LOYAL3 customers with a new, larger platform and more services.
Effective May 22, 2017, LOYAL3 will transfer your brokerage account to FolioFirst, a new online brokerage platform being built for LOYAL3 customers.
The transfer to this new platform will happen automatically – there is nothing you need to do to have your account transferred – and there is no charge for the transfer. Your account, including securities and cash, will be available at FolioFirst starting on May 22, 2017. Following the transfer of all accounts, the LOYAL3 platform will close. Review the Important Deadlines section below for key dates before this transition.
We hope you'll want to continue investing – and grow your account at FolioFirst. You'll be offered significant enhanced services at FolioFirst compared to your LOYAL3 brokerage account including: commission-free trading in over 200 stocks, multiple account types (individual, IRA, and joint), performance reporting, and much more. However, commencing August 1, 2017, there will also be a fee for services – but it will be just $5 per month.
If you do not want your account transferred to FolioFirst, you have 2 choices:
Transfer your account to another brokerage firm. You will need to instruct your new broker to send us a Transfer Instruction Form (TIF). Per industry standard, fractional shares cannot be transferred. By submitting a request to transfer your account to a brokerage firm other than FolioFirst, you are also authorizing us to sell any fractional shares remaining in your account that cannot be transferred to your specified brokerage firm, return the proceeds to you and close your account. By submitting this request, you also authorize LOYAL3 to liquidate any cash equivalents that are part of LOYAL3's money market sweep program for purposes of returning your funds to you.
Please instruct your new broker to send us this form by May 15, 2017.
For more information about transferring your account, please see the information described below under the caption Information on Transferring Your Account.
Or, sell all your shares held at LOYAL3 and transfer the cash to your bank account. You can do this on the LOYAL3 website using your current login username and password. You will need to enter your sell order by 1:45 PM ET on May 16, 2017. By submitting a request to sell all of your shares, you are authorizing LOYAL3 to return the proceeds (including any other cash or proceeds from cash equivalents held in your account) to you if you have not done so by May 19, 2017. By submitting this request, you also authorize LOYAL3 to liquidate any cash equivalents that are part of LOYAL3's money market sweep program for purposes of returning your funds to you. For more information about transferring your account, please see the information described below under the caption Sell Your Shares, Withdraw the Proceeds and Close Your Account.
FolioFirst is a brand new web site currently being built just for LOYAL3 customers. FolioFirst is part of an online stock brokerage and financial technology firm that has been serving investors for over 17 years. From its beginning, Folio has been dedicated to helping individual investors achieve their long-term financial goals.
With FolioFirst, you'll have access to many additional features including:
Commission-free trading (up to 2,000 trades per month in twice-daily windows) in over 200 publicly traded stocks and ETFs, and with the ability to
buy and sell in any dollar amount1, and
trade with fractional shares
IRA and Joint Accounts, in addition to Individual Accounts (available by August 1, 2017, and included in the one monthly fee)
An FDIC-insured cash sweep
An easy-to-use website with tools and displays to help make you a smarter investor
The ability to upgrade to other brokerage offerings
No account minimums
1 A minimum purchase amount of $25 per security applies; if you are purchasing ten or more securities at once, the minimum purchase amount is just $5 per security.
Your New Pricing Plan
The FolioFirst pricing is simple and straightforward – you receive all of these great brokerage features, including commission-free security trading (up to 2,000 per month in twice-daily trading windows), for one flat fee of just $5 per month. And that one fee covers trading and all these features in as many accounts as you need – individual, joint and retirement (there is a separate $25 annual IRA reporting fee).
To give you a chance to experience all that FolioFirst has to offer, the monthly fee will be waived until August 1, 2017. Other fees may apply - see Special Services and Fees below.
Information about how to login to FolioFirst, set up cash transfers, and more will be sent to you by email before May 22, 2017.
Your existing bank link will be set up at FolioFirst. However, any automatic purchases of stock will need to be set up on the FolioFirst site after May 22, 2017.
Please check to confirm that the contact information (both email and physical address) in your LOYAL3 account profile is correct so we can continue to communicate important information to you during this transition.
We appreciate the opportunity we've had to serve you, and we are confident that you will be well served by FolioFirst.
If you have questions about this transfer, or your account at LOYAL3, please feel free to call LOYAL3 Customer Service, Monday - Friday 9-5 PST at 855-256-9253.