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Tony Novak, CPA, MBA, MT
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How to open a Scottrade Individual Retirement Account (IRA)
by Tony Novak, CPA, MBA, MT
, revised 11/28/2011
This procedure applies to all of the following types of Individual Retirement Accounts using Scottrade as the custodian and Tony Novak as the Registered Investment Advisor. The process is the same for all of the following types of IRA accounts:
Rollover SEP / IRA
Complete a Brokerage Account Application (link is no longer valid) online. The process usually takes about five minutes. During the application process, you indicate that this is an IRA account. Complete the corresponding IRA application, including the Beneficiary information. All IRA accounts must include all IRA beneficiary information. (Completion of both the regular application and IRA form pages is required to avoid prolonged processing time. Complete all sections of both forms. Failure to do so will cause prolonged processing time).
Send a signed copy of the Trading and Fee Authorization (link is no longer valid) to the Registered Investment Advisor. Everyone authorized on the account must sign this form (including me as the account advisor).
Include a signed copy of the Signature Page (link is no longer valid) that is required for certain transactions that you may request in the future such as funds distribution requests and online account linking. (This step is optional but may save time in the future).
The account number will be provided online when the application process is complete.
If you are transferring money from a 401(k) plan or other employee-sponsored retirement plan, then the plan administrator usually initiates the transfer of funds at your request or under a court order. The plan administrator will need the following information on an account transfer form that they provide.
Scotttrade account number: (as assigned to you online)
Receiving firm name and address: Scottrade, 12800 Corporate Hill Drive 5th Floor, P.O. Box 31759, St. Louis MO 63131-0759
Contact Phone Number: (314) 965-1555
Scottrade.com – information about the investment broker and account custodian, including legal disclosures and fees. See the “IRA Accounts” section of the “Forms” page.
Wealthmanagement.us.com – information about the investment advisor, including legal disclosures and fees
We no longer use Scottrade as IRA investment custodian simply because better options are now available. ContactOnlineAdviser for updated information.
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