Examples of ICA in a sentence
LPL receives a fee equal to a percentage of the average daily deposit balance in the ICA.
If you do not want to have your cash balance automatically invested in an ICA, you may speak to your IAR to have your cash balance automatically invested in a tax exempt money market fund if you meet the account minimum, or purchase a money market fund as an investment and not automatically as a sweep investment.
It is agreed by Client and LPL that the Account Fee will be payable, first, from free credit balances, if any, in the Account, second, from the liquidation or withdrawal (which the Client hereby authorizes) by LPL of the Client’s shares of any money market fund or balances in the ICA, as applicable.
For each statement period, account statements will reflect deposits to and withdrawals from the ICA, the closing balance of the ICA at each bank at which funds are held, and the interest earned on ICA balances.
Activity with respect to the ICA will appear on account statements.