Account Deposits and Withdrawals. Client may make additions to the Account as cash or Legacy Securities at any time and may withdraw Account assets through accessing the Investor Portal, subject to Section 10 below. Client acknowledges that liquidation requests in connection with withdrawals, and changes to the Model Portfolio or Investment Objective selected may take up to 5 business days to process, and, in certain circumstances, may take longer to allocate assets, for example, depending on the ability of LPL to liquidate the Legacy Securities transferred into the Account. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client cannot pledge assets held in the Account.
Account Deposits and Withdrawals. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IAR, subject to Section 9 below. Additional deposits will be invested in securities consistent with the current target allocations of the Model Portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests from Client or IAR for all or a portion of the assets in the Account to remain allocated to cash for a period of up to 45 days. After the expiration of that time period, LPL will reinvest the Account according to the Model Portfolio. Such customized requests, liquidation requests in connection with withdrawals and changes to the Model Portfolio or Investment Allocation Track selected may take up to 5 business days to process, and, in certain circumstances, may take longer to allocate assets. Client may fund the account with previously purchased, non-model securities. Client authorizes LPL to liquidate previously purchased, non-model securities as soon as reasonably practicable. In some circumstances, LPL will take into consideration realized gain and loss exposure of liquidating previously purchased, non-model securities when effecting liquidations, however in no circumstance will it be required to do so. The proceeds of the liquidation of previously purchased, non-model securities will be invested in the same manner as cash used to fund the Account. Client may not impose any restrictions on the liquidation of previously purchased securities. The tax loss harvesting or short-term gain avoidance implemented in connection with the Program is not intended to be tax advice and LPL and IAR do not represent that any particular tax consequences will be obtained. You should consult with your personal tax advisors regarding the tax consequences of investing. Tax loss harvesting or short-term gain avoidance could result in greater deviation from the Model Portfolio In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands this Agreement may be subject to immediate termination under the provisions of Section 9. Client understands that the Program is designed as a long-term investment program and that asset withdrawals (or requests to allocate all or a portion of Account assets into cash) will affect the performance of the Account. Client cannot pledge assets held i...
Account Deposits and Withdrawals
