Frequently asked questions - Client accounts (2023)

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Why should I sign up?

Using our co-trading technology, Client Accounts allow you to replicate in real time the trades that Portfolio Managers selected by Interactive Advisors are making with their own money. It gives you the benefit of active management by experts, with the safety and security of a managed account.

A wide range of portfolios are available on Interactive Advisors, from sector specialists to large professional investors’ portfolios. Contact Client Relations if you would like to learn more.

How it works

Interactive Advisors only charges fees on investments you make in your account. There are no fees on uninvested cash in your account or fees to redeem your investments. Many of the portfolios on our platform invest in ETFs. For these portfolios, in addition to the management fees (Interactive Advisors charges you), the issuer or sponsor of the ETF will also charge you fees and expenses (expense ratio). Neither we nor our affiliated broker-dealer benefit from the fees and expenses charged by the ETF issuer, and for the in-house Interactive Advisors portfolios that we select the ETFs for we try to invest in ETFs with lower fees. Information on ETF fees are disclosed in the prospectus for each ETF. Learn more about Interactive Advisors fees.

No. Interactive Advisors does not charge you to redeem from portfolios.

To open an Interactive Brokers LLC brokerage account for your Interactive Advisors investments, you need to fund it with a minimum of $100. If you plan to invest in a number of portfolios, or in portfolios that trade heavily, we recommend that you fund the account with a minimum of $25,000 to prevent your account being locked under SEC pattern day trading rules. Otherwise your instructions to us to invest in a portfolio, or divest from a portfolio, may be subject to a delay of up to two trading days after they are received in order to avoid your account being locked under pattern day trading rules.

Interactive Advisors does not act as a custodian. We have a custodial arrangement with Interactive Brokers LLC to provide these services to you. Unlike a mutual fund investor, you continue to be the direct owner of the underlying securities that are held in your own brokerage account. Your assets are held in an Interactive Brokers LLC brokerage account in your own name.

Interactive Brokers LLC is a member of the Securities Investor Protection Corporation (SIPC). As a result, our clients’ assets are protected up to $500,000 in value (including $250,000 in cash awaiting reinvestment) by SIPC. SIPC membership also provides protection for broker firms against losses should a SIPC member firm fail financially and become unable to meet obligations of its securities clients. For a more detailed discussion of these client account protections at Interactive Brokers LLC, please review this page.

Yes. You can invest in as many portfolios as you want in a single account. When you sign in to Interactive Advisors you can see your positions, both in aggregate and broken out by investment.

Our licensed and registered Client Services representatives are available to assist clients in selecting portfolios.

All portfolios must meet certain criteria for participation before they are made available through Interactive Advisors, and all Portfolio Managers must comply with our trading rules. Learn more about how Interactive Advisors works.

Typically trades are replicated within one minute. Actual times may vary.

To ensure that you invest only in portfolios that are suitable for your investment objectives, risk tolerance and financial wherewithal, Interactive Advisors assigns you (and all Interactive Advisors clients) a risk score. Learn more about risk scores here »

Yes, in the Investment Management Agreement with its clients, Interactive Advisors obtains authority to vote proxies for client securities based on recommendations provided by an independent third-party proxy voting service, Institutional Shareholder Services.

Clients may request copies of our proxy voting policies and information on how we voted on matters related to the holdings in their account. Clients also delegate to Interactive Advisors the authority to vote on other corporate actions, like tender offers, but are solely responsible for all legal proceedings or other types of events relating to the assets in the account, including but not limited to class action lawsuits.

Opening an account

Currently only US residents can open Interactive Advisors accounts. Your country of legal residence is the country where you maintain your permanent home or the country you plan to return to if you live abroad for a short period of time. Advisors registered with the US Securities Commission or a state regulator can establish accounts for clients that are US residents.

We support a wide variety of broker account structures such as Individual, Joint, and IRA (Individual Retirement Account). Please note that, due to bonding requirements, we do not support Simplified Employee Pension plan accounts. Also, by virtue of our affiliation with the broker-dealer for all our clients’ trades (Interactive Brokers LLC), IRA accounts are required to sign an additional authorization when opening an account with us. All accounts are cash accounts with the ability to use the proceeds from stock sales immediately for new purchases instead of waiting for the usual 2 days settlement. With this capability, you can invest in all those portfolios available on our platform that are suitable for the your risk profile. And you can even invest in one portfolio by using the cash made available by redeeming another portfolio. Please be aware that our accounts

  1. cannot borrow cash or short stocks,
  2. are subject to margin interest if unsettled cash is used for investments and
  3. cash from redemptions can be withdrawn only once it is settled.

Yes, Interactive Advisors allows clients to open multiple client accounts., However, you do not need to open multiple accounts to invest in multiple portfolios. Please contact our Client Services team for more information.

Not at this time. To enable us to mirror trades in your brokerage account you must open a managed account with Interactive Brokers and authorize us to trade in it on your behalf. Once you sign up for an account with us, we send you all information needed to open an Interactive Brokers account linked to Interactive Advisors.

You can invest in Interactive Advisors portfolios for as little as $100. Clients should invest an amount appropriate for their personal circumstances. We also advise that you set aside enough cash to cover at least six months of expenses.

Interactive Brokers LLC offers a number of ways to fund your account, including wire transfer and payment by check. Further details on options and necessary instructions are provided when you sign up with us.

No. You will have to create a new account. There will be no transfer of history or data from the old account to the new one.

Using the service

You can set your risk score by logging into your Interactive Advisors account and providing responses to a set of risk assessment questions. Using an internally-developed risk scoring formula, you are assigned a risk score number between one and five based on your willingness and ability to take risk. You may only invest in portfolios with a risk score less than or equal to your risk score.

On the IBKR sign in page click the ‘Forgot Password?’ link at the bottom, then follow the instructions.

Absolutely! You simply sign in to your account and click on the ‘Exclusions by stock’ link on your dashboard menu to go to that section in your account. There you will be able to specify individual stocks that you do not want your Interactive Advisors account to invest in. The portfolio that you invest in may trade these individual stocks, but once you specify a restriction, the stock you specify will not be purchased in your account.

"limited" means that a portfolio is currently closed to new investors. Existing investors are only able to redeem their investments. If you are interested in investing in a portfolio that currently has no vacancy please contact us and we will let you know when spaces become available.

Your account is updated continuously throughout the day. This excludes corporate actions (e.g. dividends, stock splits etc.) which can only be reconciled overnight.

We call this drift. There are a number of causes of drift including risk score, stock exclusions, and cashflow behavior. Drift is typically caused by Portfolio Managers trading outside of the trading rules, or in securities that are not replicated for clients due to stock restrictions specified by clients. Learn more about performance drift.

During market hours, instructions are processed in the order they are received. However, please note that to avoid price swings around market open and close, client instructions to invest in or redeem any investments in the portfolios will be processed in the order in which they are received between 9:35am and 3:55pm ET. After market hours, instructions will be processed upon the next market open.

Interactive Advisors management fees are calculated and accrued daily but charged on a monthly basis.

Interactive Advisors offers a large selection of portfolios to its clients. To ensure clients pick suitable investments for their risk profile, Interactive Advisors limits clients’ selection of portfolios using the following four criteria:

  • Clients need to have a client account risk score that is greater than or equal to the portfolio they want to invest in.
  • Clients need to have enough funds available in their Interactive Advisors-linked brokerage account to invest at least the minimum investment amount, which varies by portfolio and is specified on each portfolio page.

Some Portfolio Managers have opted for accounts with extended trading capabilities (e.g. immediate settlement of trades etc.). If your account does not possess the same abilities, Interactive Advisors would not be able to replicate the Portfolio Manager’s trades in your account. This is why some portfolios could be unavailable to you. For further details on account types, please contact us.

Any questions about the portfolios you are invested in can be directed to our client services department. In addition, most Portfolio Managers describe their strategies on their portfolio page.

Managing my account

As you complete your account application with Interactive Brokers LLC, you will notice that their website outlines the various funding options, including Wire Transfer, Electronic Bank ACH Transfer and Check. Instructions are provided for each method of deposit.

Your account can be funded once you have been given a brokerage account number. Let us know when your funds have been sent and by what method - we will monitor your account to confirm the funds have cleared and activate your Interactive Advisors account.

Interactive Brokers LLC requires you to tell them when you have made a deposit to match incoming payments to your account. To do this fill in a Deposit Notification by signing in to Interactive Brokers LLC, select Funds Management and then Deposits and Inbound Transfers. Alternatively, click this link to be automatically re-directed to the correct page when you have logged in.

Sign in to your Interactive Brokers LLC Account, select Funds Management and then Withdrawals and Outbound Transfers. Please notify us if you withdraw money. Please note that it usually takes two business days to transfer money out if it includes the proceeds of any investments you have sold. This is so that trades are settled.

You can use the ‘Transfer funds’ button at the top of the Overview in your dashboard to move funds from or to your IB brokerage account. Please note that you can only transfer cleared funds. That means unsettled cash from trades and margin cannot be used.

You may review your prior answers to and retake Interactive Advisors risk questionnaire by logging into your account whenever there is a change in your financial situation or investment objectives. You should review your answers to the risk questionnaire at least once a year to ensure that your investments with us remain suitable for your particular circumstances. Interactive Advisors will periodically prompt you to review your risk questionnaire responses in order to ensure we have the most accurate and up to date information about your financial situation and/or investment objectives. Depending on the question and our weighting of that question, revising your answers may or may not lead to a modified risk score.

Generally, you cannot cancel single instructions once they are placed. However, it may be possible to cancel such instructions if placed after market hours. You are welcome to contact Client Relations to help in this regard.

We carefully monitor all our accounts for any such suspensions and will contact both you and Interactive Brokers LLC to resolve the situation. If your account has been suspended, we will be able to close existing positions but not take new positions in your account.

In order to prevent your account being locked under SEC pattern day trading rules, we recommend you fund the account with a minimum of US$25,000 if you plan to invest in either several portfolios or portfolios that trade heavily. Otherwise your instructions to us to invest in a portfolio, or divest from a portfolio, may be subject to a delay of up to two trading days after they are received in order to avoid your account being locked under pattern day trading rules.

Once you sign in to your account, click on the portfolios you are invested in. Next click to redeem your investments from each portfolio. Once the orders are filled, the cash proceeds will be placed in your account. You can request to have the funds transferred to you via check, wire or ACH. Finally, to delete or disable your account, contact us.


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