How to Open an Account

There are two ways to open an account. One is establishing a new account, and the other is transferring an account from another advisor or from the retail platforms of TD Ameritrade and Charles Schwab & Co., Inc, or any other custodian.

Opening a New Account

Client may open an account at the brokerage firm of his/her choice, such as Charles Schwab & Co., Inc. or TD Ameritrade. Once the account is established and the client is issued an account number, the client may fund the account by depositing a check, wiring money into the account, or transferring assets from another advisor.

If the client is mailing a check, the client may mail the check directly to the custodian or us. When we receive the check, we will forward the check to the custodian to be deposited in the client account.

If you are depositing a check, please make the check payable to the account holder or to the respective custodian (Charles Schwab & Co., Inc. or TD Ameritrade). DO NOT make the check payable to FPL Capital Management.

If you are transferring assets into your newly established account, you will need to fill out an asset transfer form (commonly referred to as an ACAT form) from the respective custodian. This form will be provided by FPL Capital Management. The asset transfer process takes up to 7 to 10 business days (certain types of accounts may experience longer process times).

Converting Retail Accounts to Institutional Accounts

The client will need to complete and sign a Limited Power of Attorney for Advisors Form from the respective custodian. The process normally takes up to 5 business days.

If the retail account is a Charles Schwab & Co., Inc. retail account, the account number will remain the same.

If the retail account is a TD Ameritrade retail account, the account number will be changed once the account becomes an institutional account.

Transferring Accounts from Another Advisor from the Same Brokerage Firm

The client will need to complete and sign a Limited Power of Attorney for Advisors Form from the respective custodian. If the account is already an institutional account, your account number will remain the same. The process normally takes up to 5 business days.

Transferring Accounts from Another Advisor from a Different Brokerage Firm

The client will need to establish a new account at the new brokerage firm. Once an account number is assigned, client will fill out a Transfer of Assets or an ACAT form to transfer the assets from the previous advisor’s brokerage firm into the new account at the new brokerage firm. The process normally takes 7 to 10 business days (certain types of accounts may experience longer process times).

Please Contact Us for Account Forms and Applications.