Frequently Asked Questions

MY ACCOUNT

What is the difference between MACC and MATC?

MACC:
Mid Atlantic Capital Corporation is the broker dealer.
Brokerage accounts are carried by NFS (National Financial Services)
“MyStreetScape”
MATC:
Mid Atlantic Trust Company is a non-depository trust company.
“ActiveView” accounts are transacted through MATC’s TNS
(Transaction Network Services) system.

Who holds the assets?

The choice of where the assets are held depends upon the investment process we employ for our clients.

Mid Atlantic Capital Corporation, a broker dealer, has arranged for accounts to be carried by National Financial Services, LLC (NFS), a Fidelity Investment Company.

Mid Atlantic Trust Corporation (MATC) is the custodian who holds our clients’ ActiveView Portfolios. MATC is a non-depository trust company.

Are the assets in my account insured?

Safety of our clients’ assets is one of the most important benefits we provide.

Securities in Accounts Held by National Financial Services
Securities in accounts carried by National Financial Services, LLC (NFS) are protected in accordance with the Securities Investor Protection Corporation (SIPC) up to $500,000. The $500,000 total amount of SIPC protection is inclusive of up to $250,000 protection for claims for cash, subject to periodic adjustments for inflation in accordance with terms of the SIPC statute and approval by SIPC's Board of Directors. NFS has also arranged for additional protection for cash and covered securities called "excess of SIPC" coverage, from Lloyd’s of London together with other insurers1. This additional protection would only be used when SIPC coverage is exhausted. Total aggregate excess of SIPC coverage available through NFS's excess of SIPC policy is $1 billion. Within NFS's excess of SIPC coverage, there is no per account dollar limit on coverage of securities, but there is a per account limit of $1.9 million on coverage of cash awaiting investment. This is the maximum excess of SIPC protection currently available in the brokerage industry. Neither coverage protects against a decline in the market value of securities, nor do they cover other claims for losses incurred while broker-dealers remain in business. Certain securities are not eligible for SIPC or excess of SIPC coverage2. For more details on SIPC, or to request a SIPC brochure, visit www.sipc.org or call (202) 371-8300. For ratings and more information about Lloyd's please go to http://www.lloyds.com/Lloyds_Market/Ratings/.

1 Fidelity's excess of SIPC insurance is provided by Lloyd's of London together with Axis Specialty Europe Ltd. and Munich Reinsurance Co.
2 Among the assets typically not eligible for SIPC or excess of SIPC protection are commodity futures contracts, currency, and precious metals, as well as investment contracts (such as limited partnerships) and fixed annuity contracts that are not registered with the U.S. Securities and Exchange Commission under the Securities Act of 1933.

Mutual Funds Held in Activeview Portfolios
Mid Atlantic Trust Corporation acts as Trustee, not as Custodian, for mutual fund assets held in our ActiveView Portfolios. Mutual funds held in our ActiveView Portfolios are provided custodial services directly through the mutual fund company.

How do I determine what the amount is for my Required Minimum Distribution?

Once you reach the age of 70 ½, you are required to withdraw an annual Required Minimum Distribution (RMD) from your retirement account(s). The RMD amount is determined according to a standardized IRS table that takes into consideration your age and the December 31st account value for the previous year. To fulfill this requirement, you may elect to take monthly distributions or receive it in one lump sum. Your distribution may be taken at any time throughout the year, but it must be processed before December 31st. Federal and State income taxes can be withheld at the time of distribution. Please contact your tax advisor for tax recommendations.

How do I report a lost or stolen brokerage access credit card?

Call (877) 506-2399 or (215) 749-3678. Indicate that you have a Brokerage Access Account with National Financial Services. You will need to have your account number ready when you call. During regular business hours our staff is available to assist you with this process.

What are the account fees that I can expect to pay?

Through National Financial Services:

  • IRA accounts $35/yr.
  • Brokerage accounts $100/yr.
  • VISA Platinum Debit Card $100/yr.
  • Check reorder (quantity of 50) $5
  • Wire Transfer – IRA $15
  • Wire Transfer – non-IRA $20
  • Overnight check delivery $18
  • Check stop payment $25
  • Third party statements $2.95/statement/mo.
  • Electronic funds transfer (EFT) No charge

 

How do I set up e-delivery of statements?

You may elect to receive electronic statement delivery at any time. Our staff is available to assist you with this service request.

Download: Setting Up e-Delivery of Statements

CHECKS

Where do I send my checks for deposit?

Longbridge Wealth Advisors, LLC
5399 Lauby Road, Suite 115
North Canton, Ohio 44720

To whom do I make my checks payable?

MACC Accounts: Make checks payable to NFS or National Financial Services, LLC.
MATC Accounts: Make checks payable to Mid Atlantic Trust Company.

For Deposits to Individual Accounts

If the check is made payable to you, sign the check on the back, write “for deposit only” below your signature and include the account number that these funds will be deposited into.

How long does it take for my deposit check(s) to clear?

Typically you should expect deposits to be available for withdrawal within 5 to 7 business days after receipt of funds in our office. You may track your cash balances and deposits into NFS and MATC accounts via the Longbridge website. Unfortunately, we do not accept cash deposits.

How do I enter a reorder a new supply of checks?

During regular business hours, call or email our staff with your check reorder request.

DEPOSITS & DISTRIBUTIONS

Wire Transactions
  • To make a deposit into your NFS Account or MATC Account, please phone or email Amy or Lindsay for specific instructions.
Electronic Fund Transfers (EFTs) For NFS Accounts

An EFT takes 10 to 14 days to set up and requires the following information to be established:

  • A voided check of the banking institution that funds are to be sent to
  • A signed EFT form from NFS (available through our office)
  • A signed NFS Mutual Funds periodic distribution form (available through our office)

Download: Setting Up My Streetscape Online Account Access

Checks To Third Parties Or To Parties Named On The Account
  • Checks may be processed with a verbal request from the account holder of a non-retirement account if funds are available. Unless instructed in writing, checks will be delivered to the address of record within 5 to 7 business days.
  • If sending a check to a third party, a signed letter of authorization is required.
  • All retirement distributions require a signed Distribution Form before processing.
Journal Transfers Between Longbridge Accounts
  • Transferring funds between accounts with the same name can be processed with a verbal request.
  • Transferring funds between accounts with different names requires a Letter of Authorization signed by all account holders.
 

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Longbridge Retirement Plan Services