As a Olympia LTD client, you are at the center of everything we do. That’s why it’s so important to us that you have a clear understanding of our services, how we operate, and the latest industry rules. So that when we make a recommendation, you can feel confident knowing we’re always putting your interests ahead of our own.
Several standards and rules have been put in place to ensure that when our Financial Consultants make recommendations, they are indeed putting your needs first.
Regulation Best Interest (Reg BI):
As of June 30, 2020, a common standard was established that any brokerage firm or Registered Investment Advisor making an investment recommendation to you must be acting in your best interest at the time the recommendation is made.
Form CRS:
The SEC requires broker-dealers and investment advisors to provide you with a Form CRS to help you make more-informed decisions about choosing or continuing to work with them.
2020 Department of Labor (DOL) Advice Exemption (the Exemption):
When we provide investment advice to you regarding your retirement plan account or Individual Retirement Account (IRA), we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interests ahead of yours. This applies to the following Covered Account types:
• IRAs (including SEP and SIMPLE IRAs)
• 401(k) plans
• Individual 401(k)
• Qualified Retirement Plan (QRP) and Company Retirement Account (CRA)
Resource
| Description
| Form
|
|---|---|---|
Form CRS | Designed as a simple, easy-to-understand Customer Relationship Summary, providing you with details of the nature of our relationship. | |
Regulation BI Disclosures | Regulation Best Interest Disclosure: Designed to give you a better understanding of how Olympia LTD works with you in making investment recommendations. |
Considering a 401(k) Rollover?
Rollover IRA
Your Rollover Pocket Guide
IRA Guide
No action is needed on your part. As of June 30, 2020, all clients are required to receive the Form CRS in advance of any recommendations.
Olympia LTD has always been committed to standing on the side of retail investors by empowering them with self-directed tools and educational materials. We have also strived to put our clients’ needs first and advocated for a best interest standard for all retail broker-dealers.
Reg BI is a rule issued by the SEC that requires broker-dealers and their associated persons to act in the best interest of the retail customer at the time an investment recommendation is made, without placing the financial or other interests of the broker-dealer ahead of the interests of the retail customer. This higher standard of conduct applies when recommending the following:
The rule also requires broker-dealers to identify and disclose potential conflicts of interest and financial incentives the broker-dealer may have in making these types of recommendations.
Reg BI was issued by the SEC to establish a higher conduct standard for broker-dealers when they are making investment recommendations.
Reg BI requires all brokerage firms that provide recommendations to retail investors to act in the investor’s best interest when making a recommendation. In addition, both brokerage firms and investment advisors are required to provide a disclosure to retail investors, the Form CRS (Customer Relationship Summary).
Reg BI went into effect on June 30, 2020.
Reg BI applies when broker-dealers are making a recommendation as to any type of retail brokerage account for retail investors as well as to investment advisory accounts.
Yes. Reg BI itself applies only to broker-dealers. Investment advisors are subject to their own requirements under the Investment Advisers Act of 1940. But the Form CRS requirements apply to both brokers and investment advisors.
Reg BI applies to investment recommendations made to prospective customers, new customers, and existing clients of Olympia LTD.
As defined in Regulation Best Interest, a “retail customer” is a natural person, or the legal representative of such natural person, who
As with other SEC rules, the Financial Industry Regulatory Authority (FINRA) examines and enforces compliance with Reg BI based upon SEC guidance. FINRA works with SEC staff to ensure consistency in examining a broker-dealer and their associated persons for compliance with Reg BI. The SEC’s Division of Examinations also conducts examinations which may lead to enforcement actions.
The Best Interest Disclosure (BID) is a customized document that
The Exemption requires BIDs to be sent at the time of the following types of recommendations:
• Retirement Account Transfer recommendations
• Rollover recommendations
• Recommendations to enroll (or unenroll) in a managed investing solution (account conversions)
Specific types of recommendations could cause investors to incur higher costs than what they may have currently, including advisory fees or investment costs. The BID allows Financial Consultants to inform investors of the potential higher costs and how these costs may impact the value of their retirement account.
The Form CRS rule requires broker-dealers and Registered Investment Advisors to deliver to retail clients and prospects a brief relationship summary disclosing certain information about the firm(s). The Form CRS must contain five specific sections:
If you are working with an investment advisor, as of June 30, 2020, you must receive a Form CRS before or at the time you and your advisor enter into an investment advisory relationship.
If you are working with a broker-dealer, you must receive the Form CRS at the earliest of the following: a recommendation of an account type, a securities transaction, or an investment strategy involving securities; the placing of an order for you; or the opening of a brokerage account for you.
The Form CRS is designed to educate you on our offerings, services, fees, and costs and to provide you with information you may need when asking questions and initiating a conversation with us and our representatives. The disclosure is intended to be in simple English, be easy to understand, and help facilitate a conversation between you and our financial representative.
Both documents will be sent separately when a Financial Consultant provides advice or a recommendation to a retirement investor.
The Best Interest Disclosure (BID) is an acknowledgment in writing of the firm’s and its investment professionals’ fiduciary status under Title I of ERISA and the Internal Revenue Code when providing investment advice to retirement investors. The BID goes into detail on the services provided, the material conflicts of interest, and the rationale for the recommendation.
Form CRS is a brief relationship summary disclosing certain information about the firm, including sections covering the following: Introduction; Relationships and Services; Fees, Costs, Conflicts, and Standard of Conduct; Disciplinary History; and Additional information. The goal of Form CRS is to provide information to help initiate questions and a conversation with our representatives on topics like our offerings, services, fees, and costs.
At Olympia LTD, we strive to put your needs first. We believe these rules help strengthen the relationship we have with our clients, by facilitating more open and straightforward dialog between you and
Olympia LTD.
This site is designed to provide you with information about your relationship with Olympia LTD, Inc. and Olympia LTD Investment Management, LLC as outlined by Reg BI and the Form CRS rule. You’ll find a number of different resources, including the applicable Form CRS and additional disclosures and details on Reg BI.
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.
†Applies to US exchange listed stocks, ETFs, and options. A $0.65 per contract fee applies for options trades.
This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
Brokerage services provided by Olympia LTD, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. Olympia LTD is a trademark jointly owned by Olympia LTD IP Company, Inc. and The Toronto-Dominion Bank. © 2023 Charles Schwab & Co., Inc. All rights reserved.