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For ease of account opening, you may need to reference the information or documentation listed below.  Be sure to have access to your email account during the enrollment process for verification purposes.

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Account Opening Checklist

  • 1. Social security number
  • 2. Driver’s license
  • 3. Funding account information:
    • Bank name and routing number
    • Investment account statement with account name and number
    • Names of beneficiaries that may be associated with the account

Employer-Sponsored Retirement Plan Rollovers:

Are you opening a rollover account from a previous employer-sponsored retirement plan (401k, 403b, 457, etc.)?  If so, please follow these additional instructions:

  • 1. If you have ROTH or after-tax options in your retirement plan account, you will also need to open a ROTH IRA account.
  • 2. Call the provider’s toll-free number listed on the statement or website for plan specific instructions.
  • Have the following information ready prior to the call:
    • New TD Ameritrade account number
    • Check payable instructions: TD Ameritrade Clearing, Inc. FBO “Your Name”
    • Mailing instructions (Some providers will only send the rollover check(s) to the employee. You will need to mail the check to this address within 60 days to avoid a potential penalty.
      Fragasso Financial Advisors
      Attn: Digital Investment Solutions
      610 Smithfield Street, Suite 400
      Pittsburgh, PA 15222

FAQs

What is the cost/fee for investing with Digital Investment Solutions by Fragasso?

The annual advisory fee is 0.55% of the account value, calculated as the average daily balance for the previous quarter. Subject to Internal ETF costs. Transaction fees may apply.

Keep in mind that if you transfer holdings (mutual funds, ETF’s or stocks) these will be liquidated upon receipt.

Is there a minimum investment amount?

Yes, $5,000.00.

How does the investment process work?

After you complete the risk tolerance profile, we will make a recommendation of the appropriate investment strategy. You may select this strategy or choose a strategy that is more or less aggressive depending on your specific wants/goals for the account. As you go through the account opening process, you will be asked for account transfer information. Using your existing account statement or bank account information (please have this handy as you open your account) you can transfer cash or existing holdings. Once the funds/holdings are received in your new account, your account will be invested according to your selected investment strategy.

Keep in mind that if you transfer holdings (mutual funds, ETF’s, or stocks) these will be liquidated upon receipt.

Where are my funds held?

Your funds are custodied at TD Ameritrade Institutional.

Can I invest if I’m located outside of the United States.

No, our services are available to the United States only.

What type of accounts can I open with the Digital Investment Solutions service?

The most common account types include individual, joint, IRA and Roth. However, we can open almost any type of account. If the account you are trying to open isn’t in the dropdown menu, please send us an email, and we will get back to you within the next business day.

How can I make changes to my account?

You can request changes to your investment strategy through Digital Investment Solutions platform. You can also request funds, raise cash and plan investment goals through your portal.

Can I change my investment model at any time?

Yes, you can request a change through the Digital Investment Solutions platform.

What are the tax implications of my investment?

If holdings are transferred and liquidated, taxable accounts may face tax consequences.  Please consult with your tax professional. We utilize ETF’s because they are low cost, tax efficient vehicles.

Is there a cancellation fee if I wish to terminate my account?

No.  You can cancel your account at any time.

What kind of updates will I receive from Digital Investment Solutions by Fragasso?

You can visit your account as often as you wish. In addition, you may receive periodic updates on the market and on general wealth building/financial life topics.

What is an ETF?

An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold.  ETF’s typically have a lower cost and are more tax efficient than Mutual Funds.

What is an expense ratio?

The expense ratio is the annual fee that all funds or ETFs charge their shareholders. It expresses the percentage of assets deducted each fiscal year for fund expenses, including 12b-1 fees, management fees, administrative fees, operating costs and all other asset-based costs incurred by the fund.

Who is Fragasso?

Fragasso Financial Advisors is an independent, employee-owned and primarily fee-based investment management and financial planning firm headquartered in Pittsburgh, PA.  We provide holistic financial planning guidance and investment management that is free from proprietary products and the conflict of investment commissions. Our structure enables us to concentrate on what truly matters – helping clients pursue their financial goals.  Learn more.

Who should I contact if I have more questions?

Please email digitaladvisor@fragassoadvisors.com.  Your question will be answered by the next business day.