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Topics: Common Questions
Our clearing partner, Pershing LLC expects their tax documents to be released in four distinct phases.
January 31, 2018 Form 1099 will be available online for accounts with holdings and income that typically do not require reclassification or additional information from issuers. Generally, this includes accounts holding fixed income (debt), equity-only investments and options.
February 15, 2018 Generally, this document includes mutual funds, certain unit investment trusts (UITs), real estate investment trusts (REITs) and certain equities that were not included in the phase one. If you hold positions for which issuers have not provided final 2016 tax information, you will receive a Pending 1099 Notice. This will identify the holdings impacting the mailing date of your Form 1099 and provide the anticipated mail date. If you received your Form 1099, you will not be sent this notice.
February 28, 2018 Form 1099 will be available for accounts for which income reclassifications were received after the February 15 mailing was prepared. Generally, this includes remaining mutual funds, REITs and certain equities.
March 15, 2018 Form 1099 will be available for all remaining accounts regardless of whether pending income reclassifications have been received from issuers. Generally, this includes certain complex, non-equity securities, such as real estate mortgage investment conduits (REMICs), widely held fixed investment trusts (WHFITs) and some UITs.
Please keep in mind you will not receive a Form 1099 if you did not have any reportable sales activity and the interest or dividend payments do not exceed $10 in 2016.
1099s can be found on your Motif dashboard under “Account”, “Documents & Confirms”, and within the “Tax Documents” tab.
For your convenience 1099 data can be downloaded to the latest version of TurboTax within two weeks after distribution.
- From TurboTax, select “Motif Investing, Inc.” as your brokerage and click the continue button.
- Enter your Motif Investing username and password.
With an Impact Account you get a fully-automated portfolio that aligns to your financial goals with your values.
A Trading Account allows you to choose from our catalog of professional and community-built motifs, build your own custom 30-stock portfolios, trade individual securities, and participate in IPOs.
Absolutely! You just need to submit separate brokerage applications for each account type. Just submit your application for the first account type, and then open another account from your Motif dashboard by scrolling over your name at the top of the page and select “Settings” from the drop-down.
A motif is a basket of up to 30 stocks or ETFs intelligently weighted to reflect an investment theme, market insight or innovative trend. Choose from one of our professionally built motifs, customize, or design your own. Then buy your motif in just one click.
To build your own motif, from your Motif dashboard go to “Build” and click “Build a Motif”.
When placing a market order, you will have the option to execute it in real-time or at the “next market open”. When selecting “Next market open” or if the trade is placed after market hours, it will be scheduled to be executed when the market opens on the next trading day (9:30am ET).
The benefit for selecting this option is that these trades carry no or reduced commission fees. All automated trades (e.g. auto-invest, auto-rebalance) are also executed at the next market open.
Keep in mind, placing market orders at market open can be considered risky because a lot can change from market close one day to market open the next. For example, company’s earnings announcement with significant news, world events, and activity in international markets can all create volatility in overnight stock prices.
IPOs and Secondary Offerings can be purchased commission free.
For a detailed breakdown, please check our Pricing Page here.
Commission-free trades are motif or single stock trades that carry no commission fees when executed.
In a Motif Impact account, all trades are commission free.
In a Motif trading account, all professional motif and single stock trades are commission-free when you select the option to trade at next market open. All auto-invest and auto-rebalance trades are also commission free.
With an optional Motif BLUE subscription, you get three commission-free real-time trades per month. Unused commission-free trades do not roll over to subsequent months.
For details on how we built a particular motif, go to the Overview page of the motif and click the “How We Built This Motif” link.
The fee structure for a Motif Impact account, that provides a fully automated portfolio aligning your financial goals with your values, is 0.25%, expressed as an annual fee rate. This fee is based on the total amount of invested assets and will be deducted from your account balance on a monthly basis.
Check deposits can be withdrawn by check or ACH 10 business days from the date of deposit or via a Fed funds wire 30 business days from the date of deposit. Wire deposits can only be withdrawn via a wire after the funds have been held for one business day.
ACH deposits must remain in your account for a minimum of seven business days prior to withdrawal for clearance purposes and may only be withdrawn via ACH to the bank account of origin. These holds apply to both non-retirement accounts and IRAs. In addition, if your deposits to an IRA are made via account transfers (ACATs), the funds are available for distribution 30 business days from the date of deposit. Other conditions may apply.
Enrolled motifs with an available update are automatically rebalanced on Mondays at 9:30am ET. Note, if the auto-rebalance falls on a market holiday, your motif will be updated the following day.
You stay in control by selecting which of your professional motifs will be auto-rebalanced, and you’ll always be notified before a rebalance occurs. If you need to make a change, you may cancel an upcoming rebalance transaction at any time before 9:20am ET on the scheduled rebalance date.
After you buy or sell securities, settlement occurs when the security or cash proceeds is transferred to your account. This is commonly referred to as “T+2″ which stands for “trade date plus two days.” It can take up two days after the order executes for the transaction to settle and is the industry standard.
Motif Impact accounts have a minimum balance of $1,000 so that you can buy enough shares of stocks for each asset class. This minimum balance must be maintained over the lifetime of the account.
Trading accounts do not have an account minimum. To invest in a motif, you can start investing for as little as $300. To trade on margin, you’ll need a minimum balance of $2,000.
Click here for general information on how motifs in our catalog are built and how securities are selected. For details on how we built a particular motif, go to the Overview page of the motif and click the “How We Built This Motif” link.
Definitely! When placing a motif trade, you may have the option to execute it in real-time or at the next market open. Choose the real-time option if you want your trade to be executed immediately during market hours.
With this option selected, your order will be immediately placed for each individual security contained in the motif. And, if you decide to sell a motif, or selected individual securities it contains, those orders will be sent to the market for execution in real-time. A commission fee may apply — see Fee & Commission Schedule for details.
Clearing firms handle the back-office detail and processing for brokerage firms. They process and settle trades, process fund movements, and are responsible for holding customer shares and other assets. Motif Investing’s clearing partner, Pershing LLC, is one of the industry’s leading firms with a strong track record in expertly handling the needs of online brokerages.
You can add stocks, ADRs or ETFs listed on major US exchanges.
Motif Investing is a Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org .
Our clearing firm Pershing LLC has purchased an additional insurance policy through a group of London Underwriters (with Lloyd’s of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $150 million. This is provided to pay amounts in addition to those returned in a SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $37.5 million, including cash of up to $900,000. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.