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5 Questions You May Have When Opening an Investment Account

Opening a new investment account is a big step in continuing to plan your financial future, and helping you achieve your goals is our top priority. No matter where you want to go, we can help you make sure you're on the right track.

This brief article contains frequently asked questions that sometimes come up during the account opening process. We hope it provides answers today, so that you can continue on your path for tomorrow.

1. “How long will the account opening process take and what will I need?”

You can complete the account opening process in about 10 minutes. To make the process easier, before you start, make sure you have your:

  • Social Security Number or Individual Taxpayer Identification Number
  • Employer’s name, address and phone number
  • Account beneficiary’s Social Security Number, address and date of birth (for IRAs only)

Start your application today and apply online, or feel free to contact us for assistance with the application process.

2. “Why is all this information necessary?”

In short, we’re legally required to make sure you are who you say you are. We take safeguarding your financial information seriously. Therefore, we want to make sure it is really you opening your account for legal and legitimate purposes.

3.  “Where can I find investing news and education?”

Maybe you’re looking for in-depth breakdowns of complex strategies. Or perhaps you’ve just started investing and want to learn the basics. Whatever your investment needs, our Knowledge Center has an extensive library of educational articles that can complement your investing style.

We also offer independent, third-party research from firms like S&P, Reuters, Market Edge® and Morningstar®. If you prefer in-person support, just stop by your local branch office and speak with our professionally trained Investment Consultants, who can help you form a plan to execute your financial strategy.

4.  “What investment approach is right for me?”

If you’re uncertain about your next move, our Investment Consultants can help you figure it out during a personal review of your entire portfolio. We’ll evaluate your current asset allocation, discuss your financial situation and collaborate on a plan to help you reach your goals.

If you’d rather determine your own approach, the Scottrade Portfolio Review tool is available to walk you through the process.

No matter which approach you choose to take, there are a few things to keep in mind:

  • Your portfolio’s overall asset allocation can have a greater influence on your returns than your skill at picking individual securities.
  • Diversifying across sectors is also important when building a portfolio that correctly reflects your risk tolerance.
  • Volatility in the market can alter your asset allocation, sometimes without you noticing. If you require professional guidance, ask our Investment Consultants about managed account solutions.

5.  How do I implement my strategy?”

Whether you’re confident in handling your portfolio all on your own, want professional guidance or seek a combination of the two, we offer a range of solutions to help you accomplish your goals.

Our intuitive platforms help you build your asset allocation, choose investments, stay updated on the latest market news and easily manage your account from your phone, tablet or desktop. You can always launch the Portfolio Review Tool to complete a comprehensive analysis of your current holdings.

We’re here to help. Our client-focused support teams are available online and over the phone to provide tailored assistance that meets your needs.

Scottrade, S&P, Reuters, Market Edge® and Morningstar® are not affiliated. The information provided is for educational purposes only and Scottrade is not responsible for statements, offers, or products issued by S&P, Reuters, Market Edge® or Morningstar®. Scottrade assumes no responsibility for the accuracy, completeness, or timeliness of the data. No information presented constitutes a recommendation by Scottrade or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. Please research any product or service carefully before investing.

Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market.