Account Minimums, Funding and Dollar Cost Averaging Sample Clauses

Account Minimums, Funding and Dollar Cost Averaging a) The account minimums in the Program depend upon the Model Portfolio(s) and generally start at $15,000. Higher minimums are associated with Model Portfolios following more sophisticated strategies. MFWM will establish the minimum investment amount for each Account, which is determined by: (i) the recommended asset allocation; (ii) applicable Model Portfolio holdings and strategies; and (iii) the Custodian at which your assets are held. If you fail to transfer, deposit or maintain the minimum for the Model Portfolios you are following, your Account may deviate significantly from the model as we will not be able to make all the trades as dictated by the applicable Model Portfolios. We reserve the right to cease management of your Account if we deem there are insufficient funds. b) Unless we are instructed otherwise, we generally refrain from trading securities in your Account until you transfer or deposit at least 95% of your indicated funding amount (the “Anticipated Funding Amount”). This delay in trading is intended to minimize the transaction and tax costs associated with configuring your Personal Portfolio account to our Model Portfolios. Upon receiving the required percentage of the Anticipated Funding Amount (and assuming that your account has been properly configured by you for trading at your Custodian and your Custodian has released all funds for investing), we will generally begin placing trades for your Account within five (5) business days. c) After the initial investment period, additional investments are subject to a $500 minimum. Additional investment amounts will be invested weekly according to our cash sweep schedule. As such, these additional amounts may remain un- invested (in cash) for a period of up to five (5) business days. If you want to have additional amounts invested prior to our cash sweep schedule, you may contact us to request expedited investment. d) If you transfer an existing portfolio into your Account, MFWM will sell the holdings that are not part of the Model Portfolios being followed in your Account (or are not applicable Replacement ETFs) and the proceeds will be reallocated accordingly. Similarly, MFWM may at times be required to sell or reduce positions in your Account in order to maintain allocations that are similar to those of the Model Portfolios. You acknowledge that these transactions may generate unwanted tax consequences, and we recommend that you consult with your personal tax advisor regarding the possible...
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