Standard accounts are our most common and flexible account types. Learn about the different standard accounts below, then open your account today.
An individual account is a standard brokerage account with only one owner.
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The account owner can assign a beneficiary, and upon death all assets in the brokerage account are passed to the beneficiary.
A JTWROS account has two or more account owners, with each person having an undivided interest in the entire property.
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Upon the death of one account owner, remaining account holder(s) retain(s) the rights to the entire account.
A Tenants in Common account has two or more account owners with each person owning a specified percentage of the entire property.
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Upon the death of one of the account owners, that person’s estate holds the right to their percentage of the account. Non-resident aliens are not eligible for this account type.
A Community Property account is owned by two married people who acquired property during the marriage (with exceptions). Community Property is based on the theory that each spouse has equal interest in the property acquired by the efforts of either of them during the marriage.
Nine states allow Community Property accounts: AZ, CA, ID, LA, NM, NV, TX, WA, and WI. Puerto Rican citizens are also allowed to open this account type. Non-resident aliens are not eligible for this account type.
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Upon divorce or death, the property is treated as belonging half to each spouse.
A Tenants by the Entireties account is owned by two married people.
The following states allow this account type: AK, AR, DE, FL, DC, HI, KY, MD, MA, MI, MS, MO, NJ, OK, PA, RI, TN, VT, VA, and WY. Non-resident aliens are not eligible for this account type.
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This account type is different from Community Property in that upon the death of one account holder, the other retains the right to the whole account. However, property cannot be sold to satisfy the debts of one owner.
With this account, the account holder’s assets – usually those of a minor or a person who can no longer manage his or her own property or financial matters – are managed by a guardian or conservator. Investment decisions are made solely by the court-appointed guardian or conservator.
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Carefully consider the investment objectives, risks, charges and expenses before investing. A prospectus, obtained by calling 800-669-3900, contains this and other important information about an investment company. Read carefully before investing.
Market volatility, volume and system availability may delay account access and trade executions.
Before rolling over a 401(k) to an IRA, be sure to consider your other choices, including keeping it in the former employer’s plan, rolling it into a 401(k) at a new employer, or cashing out the account value. Keeping in mind that taking a lump sum distribution can have adverse tax consequences. Be sure to consult with your tax advisor.
All investments involve risks, including the loss of principal invested. Past performance of a security does not guarantee future results or success.
Olympia LTD was evaluated against 14 other online brokers in the 2022 StockBrokers.com Online Broker Review. The firm was rated #1 in the categories “Platforms & Tools” (11 years in a row), “Desktop Trading Platform: thinkorswim®” (10 years in a row), “Active Trading” (2 years in a row), “Options Trading,” “Customer Service,” and “Phone Support.” Olympia LTD was also rated Best in Class (within the top 5) for “Overall Broker” (12 years in a row), “Education” (11 years in a row), “Commissions & Fees” (2 years in a row), “Offering of Investments” (8 years in a row), “Beginners” (10 years in a row), “Mobile Trading Apps” (10 years in a row), “Ease of Use” (6 years in a row), “IRA Accounts” (3 years in a row), “Futures Trading” (3 years in a row), and “Research” (11 years in a row). Read the full article.
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