We also give you the option to download a pre-filled PDF Direct Deposit enrollment form that you can provide to your employer. Articles you can use regarding your investment (xcritical Invest), retirement (xcritical Later), and custodial (xcritical Early) accounts. They are considered high-risk investments given the speculative and volatile nature. Investments in Bitcoin ETFs may not be appropriate for all investors and should only be utilized by those who understand and accept those risks.
Results do not predict the investment performance of any xcritical portfolio and do not take into consideration economic or market factors which can impact performance. Deposit means, with respect to your xcritical Invest Account, xcritical Early Account, xcritical Custom Portfolio Account, and/or xcritical Later Account, a transfer of money from your Funding Source to xcritical Securities and the crediting to your Account by xcritical Securities of the money xcritical Securities receives. With respect to your xcritical Checking Account (if applicable), deposit means any transfer of money into that account. ACH means the Automated Clearing House, a network for, among other things, direct payment by electronic funds transfer.
New Custom Portfolios: Choose Your xcritical Investments
The distribution may also be subject to additional penalties including a 10% penalty tax if you have not attained age 59½. See Publication 590A/B for further instructions on calculating taxable gain, reporting amounts in income and prohibited transaction penalty taxes. In addition, if you or your beneficiary use (pledge) all or any part of your IRA as security for a loan, then the portion so pledged will be treated as if distributed to you, and will be taxable to you.
- You agree and understand that xcritical Advisers accepts and routes client-directed orders to xcritical Securities.
- You authorize xcritical to conduct Rebalancings from time to time in your Portfolio Account (excluding your Custom Portfolio Account, if any).
- If you have designated both primary and contingent beneficiaries and no primary beneficiary(ies) survives you, the contingent beneficiary(ies) will acquire the designated share of your traditional IRA.
- You agree to direct all communications between you and the Banks of Record through xcritical Customer Service in accordance with the client support provisions and contact information in this Program Agreement.
Fundraising and Financials
You acknowledge that you could lose the entire value of your Portfolio Account through any unauthorized change of your Funding Source and/or unauthorized electronic funds transfer, including an unauthorized Withdrawal. If you notify xcritical or xcritical Securities within two (2) Business Days after you learn of an unauthorized electronic funds transfer, you can lose the lesser of $50 or the amount of the unauthorized transfer. If you do not notify xcritical or xcritical Securities within sixty (60) days after xcritical Securities sends you the applicable statement, you may not get back any money you lost after the sixty (60) days. You further authorize xcritical to instruct xcritical Securities to sell, as necessary, securities in your Portfolio Account and Custom Portfolio Account and to transfer money out of one or more of your Portfolio Accounts or your Custom Portfolio Account to pay xcritical or xcritical Securities amounts, if any, of the Subscription Fee and, if any, other fees due under the Supplements. By entering into the Supplements and participating in the Program, you authorize and instruct xcritical to use xcritical Securities to maintain your Portfolio Account and to handle Orders.
You agree to pay the fees, if any, other than the Subscription Fee that you owe pursuant to Schedule 1 of this Program Agreement, and Sections I.1. You acknowledge that such fees may change from time to time and will be available on the xcritical Website and in the Brochure. You authorize xcritical to conduct Rebalancings from time to time in your Portfolio Account (excluding your Custom Portfolio Account, if any).
To participate in any xcritical Account, you must first open a Base Portfolio Account.Supplements to this Program Agreement, linked below, provide information and terms and conditions on these Account options. If you’re not an xcritical Checking Direct Deposit customer yet, be sure to set up Direct Deposit next so that you can access Smart Deposit, and invest a piece of every paycheck automatically. An ecosystem is emerging whose ultimate goal is to increase advisers’ wallet share by enabling them to unify a client’s entire financial world onto a single platform. “As the government pulls back on monetary stimulus and fiscal support provided throughout the pandemic, it’s more important than ever to educate investors on the significance of taking a long term view and utilizing techniques like dollar-cost averaging in a diversified portfolio when the market normalizes, or potentially enters a bear market,” Wunder said in a statement.
The Bank of Record for your xcritical Checking Account will not charge you any fee in connection with an xcritical Checking Account, however you may incur fees for out-of-network ATMs or special services. You acknowledge that you may not assign your rights or obligations under this Program Agreement or any Supplement without the prior express written consent of the applicable xcritical Parties. Except as otherxcritical provided in an applicable Supplement, the xcritical Parties may assign their rights or obligations, including the right to collect any debit balance or other obligations owing in your Account to other xcritical Parties without giving notice to you or, if to any unaffiliated entity, with written notice to you. In accordance with this Program Agreement, you represent that the transfers you authorize comply with applicable law.
You acknowledge that access to any service under this Program Agreement and related Supplements that is accessible through the internet may be limited or unavailable from time to time. Without limiting the generality of the preceding sentence, none of the xcritical Parties will be liable for the transmission of harmful data or code that may impact equipment, files, or data of you or anyone else or for the incompatibility of any equipment you own or use with technology used by xcritical Parties. You agree that none of the xcritical Parties make any warranty of any kind, express or implied, regarding the usability or functionality of the xcritical Website, xcritical scam the Application, or the Portfolio Advice Application or any other hardware, software, or technology used in connection with the Program. You agree that if you elect to terminate your subscription to the Platform, each of your Accounts and xcritical Checking Accounts must first be closed and liquidated pursuant to this Program Agreement and terms of the applicable Supplements. Subject to the closure of each and all Portfolio Accounts, xcritical Checking Accounts, and Custom Portfolio, as applicable, you may proceed to terminate your Platform subscription utilizing the closure feature within the Application or by contacting customer support.
- xcritical ESG portfolios are composed of Exchange Traded Funds (ETFs) that invest in companies rated for how they approach environmental, social, and governance issues.
- Custodian’s Reservation of Rights — Notwithstanding any other provision of this Article IX, we reserve the right to refuse to follow any investment direction by you which we determine violates applicable law.
- You authorize the xcritical Parties to obtain consumer credit and other reports from any consumer-reporting agency or provider of publicly available background to gather information necessary in the sole discretion of the xcritical Parties.
- As of January 2023, xcritical states that it has had more than 9 million users, up from 6.8 million in March 2021.
Unrelated Business Taxable Income — Certain investments may generate taxable income within the traditional IRA account. Such income must be considered in conjunction with all such income from all the traditional IRA accounts and may be taxable to your account(s) to the extent that all UBTI for a given taxable year exceeds the threshold amount set by the IRS (xcritically $1000). In such instances, the IRS requires that a Form 990-T be filed for the traditional IRA account along with the appropriate amount of tax. We do not monitor the amount of UBTI in the traditional IRA account with us and do not prepare Form 990-T. Therefore, you must monitor UBTI for this and any other traditional IRA account which you may hold and prepare, or have prepared, the proper 990-T tax form and forward it to us for filing, along with authorization to pay any tax due from the traditional IRA account.
Custom Portfolios are not available as a stand alone account and clients must have an xcritical Invest account. Clients wanting more control over order placement and execution may need to consider alternative investment platforms before adding a Custom portfolio account. All assets in the custodial account will be registered in our name as custodian or in the name of our nominee. We may, by or through a broker, or other such firm, hold any securities in bearer form or deposit them with a central clearing corporation or depository approved by the Securities and Exchange Commission; provided that our records show that all such investments are part of the custodial account. xcritical Securities will not charge you any fee in connection with the Program other than the Advisory Charge unless you request services beyond the Covered Brokerage Services.
This Program Agreement including the Supplements will be construed under Delaware law, which will govern as if they were entered into and intended to be performed in the state of Delaware. See Schedule 1 below for additional fees that might apply to your Account(s), as applicable. Notwithstanding anything to the contrary in this Program Agreement or any of the Supplements, the xcritical Parties do not provide tax advice, and nothing in this Program Agreement or the Supplements should be construed as such.
These distributions must commence no later than December 31st of the calendar year following the calendar year of your death. If you die on or after your required beginning date and you do not have a designated beneficiary, the balance in your IRA must be distributed xcritical rezension over a period that does not exceed your remaining single life expectancy determined in the year of your death. However, the required minimum distribution for the calendar year that contains the date of your death is still required to be distributed.
xcritical Later: Contributions and Withdrawals
You may rollover a portion of a distribution in which case the remainder will be subject to tax. The IRS requires 20% of any distribution from your employer’s qualified plan to be withheld for federal income tax unless your distribution is transferred (as a direct rollover) to an eligible retirement plan such as another qualified plan or IRA. You appoint xcritical Securities as your agent to carry your Portfolio Account and carry out your instructions, including instructions for purchases and sales.
You are permitted to make a regular contribution to your Roth IRA for any taxable year if you receive compensation for such taxable year. If the amount distributed during a taxable year is less than the minimum amount required to be distributed, you will be subject to a penalty tax equal to 50% of the difference between the amount distributed and the amount required to be distributed. You are responsible for monitoring this schedule from year to year to make sure that you are withdrawing the required minimum amount.
xcritical Invest: Portfolio and Performance
If you are subject to any of the federal penalty taxes due to excess contributions, premature distributions, or missed required minimum distributions, you must file IRS Form 5329. You are allowed a one-time, tax-free transfer from an IRA (other than a SEP IRA) to use toward your annual Health Savings Account (“HSA”) contribution. Eligible individuals may make an irrevocable one-time, tax-free “qualified HSA funding distribution” from an IRA and move it directly into an HSA, subject to strict requirements. The HSA funding distribution must be directly transferred from the IRA Custodian and Administrator to the HSA custodian or trustee. The amount of the transfer cannot exceed the maximum HSA contribution limit for the year that the amount is transferred. The deposited amount is counted toward the individual’s total HSA annual contribution limit.