Q: Why do each of my clients have to provide a valid, government issued photo ID before you will open their account?
A: In the wake of the September 11 attacks, President Bush signed into law the USA PATRIOT Act, which is designed to thwart money laundering and terrorist financing. All financial institutions, including Broker Dealers, are required to comply with the provisions of the Act as well as with rules set forth by the entities that regulate the financial industry. In order to be in compliance, we must obtain several pieces of identifying information, including a copy of a valid, government issued identification. For more information, please visit FINRA’s web site at: http://www.finra.org/web/groups/corp_comm/documents/rules_regs/p011398.pdf
Q: What paperwork is necessary for my client to open an account?
A: All accounts require a First American New Account Application along with a copy of a valid, government issued ID. Additionally, each different account type needs different forms and paperwork required by Ridge Clearing and Outsourcing. You can find a list of Ridge required documents here:
Required documents for new accounts ( MS Excel)
To obtain copies of these documents please refer to our forms library.
Q: How do I know who I should speak with if I have any questions?
A: When you begin working with First American you will be introduced to your designated Relationship Manager, this is the person you should go to with all questions, comments, and concerns.
Q: Can I access my clients’ accounts online?
A: You can gain access to your clients’ account information online through this site, simple click client login on our home page and use the username and password provided to you by your designated relationship manager.
Q: What are some fees charged in my clients accounts at First American?
A: For a schedule of fees, please visit the disclosures section of this website by clicking http://www.factc.com/ADPDisclosure.pdf . Please note that statement and confirmation fees can be eliminated if your client enrolls in electric document service.
Give us a call to see how First American may be able to help you and your end clients.
First American Capital and Trading Corp.
1499 West Palmetto Park Road, Suite 250
Boca Raton, FL 33486
Tel. (561) 948-7470 Fax. (561) 948-7471
Email: info@factc.com
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