CONNECT

Address:

16935 W. Bernardo Dr., Suite 223
San Diego, CA 92127

Phone:

858-676-3300

Fax/Other:

858-676-3308

FAQ - Frequently Asked Questions

Why is SagePoint on my statements and correspondence?

SagePoint is an independent broker-dealer that provides Shusterman Wealth with back office, technology, regulatory and operational support. SagePoint works with approximately 1,800 independent-minded financial advisors with offices all across the United States. SagePoint is part of one of the largest networks of independent broker dealers in the country — Advisor Group— and provides stability and financial strength that has been maintained through various market cycles. Advisor Group has more than 4,900 licensed financial advisors and is a wholly-owned subsidiary of SunAmerica Financial Group.

 

Why do I make my checks payable to Pershing, SPTC or an investment management company (REIT, annuity or mutual fund)?

Pershing LLC (member FINRA, NYSE, and SIPC) — a trusted, established, and financially stable financial services firm — provides clearing services for Shusterman Wealth. A clearing firm works with various financial exchanges to handle confirmation, delivery and settlement of your financial transactions. Such firms employ technology and procedures designed to ensure that transactions are processed in a timely and efficient manner. Additionally, clearing firms prepare and send periodic account statements and transaction confirmations to investors. Pershing LLC has been a leading global provider of financial business solutions for over 70 years and serves many of the world's most respected financial organizations. The SEC and FINRA, the regulatory bodies that oversee broker-dealers, also oversee clearing firms.

SPTC is for those of you who have accounts with SEI. SPTC is short for "SEI Private Trust Company." SEI is a leading global provider of institutional and private client wealth management solutions including asset management, investment processing and investment operations. We help professional wealth managers, institutional investors and private investors create and manage wealth -- and enable their long-term success by providing solutions that are both comprehensive and innovative.

Investment management companies such as Real Estate Investment Trusts (REITs), annuity companies and some mutual fund companies require that the investment amount be provided to them directly.

 

How can I request money from my account?

You can request money from your account in person or by speaking with Peter, Brett or Ericka in our office and we will give you the appropriate paperwork (if needed.) We cannot take transaction requests via email or voicemail message.

 

Where does the money I request from my account come from?

Pershing - Money gets sent from either Pershing's Los Angeles, CA or Jersey City, NJ location, whichever is closer to you. Your assets are not held at Shusterman Wealth, nor are they held at SagePoint. Pershing is a separate and independent entity, and a subsidiary of The Bank of New York Mellon Corporation, a leading provider of financial services for institutions, corporations and high-net-worth individuals.

Pershing is a member of SIPC (Securities Investor Protection Corporation) which protects the securities of its members up to $500,000 (including $250,000 for claims for cash.) An explanatory brochure is available upon request or at www.sipc.org.

 

What is an ACH?

You may choose to send funds electronically between Pershing or SEI and another financial institution through the Automated Clearing House (ACH) system.

There is no charge to set up ACH requests. We just need a form signed along with voided check from the receiving bank. Funds are generally credited to the receiving account within 3-4 business days after the request is initiated.

 

How long does it take to get my money once requested?

It can take up to a week to receive your money. Before we can send money, it must be available in your money market account. All Pershing customer accounts have a money market (savings) account associated with them where a small portion of the money you invest with us is kept. The majority of the money we manage will be invested in mutual funds, stocks or bonds. If the money you need to withdraw is greater than the amount available in your money market account, we must sell a portion of whichever fund is most beneficial. Then, the money must be sent to your money market account which can take 1-5 business days.

Another option is to request a checkbook that will be linked to your money market account. Before writing a check, please verify your money market balance either online or by calling our office.

If requesting a wire, the fee is $25 and you can get your money sent the same day as long as the money is available and the paperwork is received in good order by 2:00 p.m. ET.

If requesting that a check be sent via overnight delivery. The delivery fee is $12.

 

Why do you need a copy of my driver's license?

Protection of financial and personal customer information is a key responsibility and obligation of FINRA member firms. Under the SEC's Regulation S-P, firms are required to have policies and procedures addressing the protection of customer information and records. This includes protecting against any anticipated threats or hazards to the security or integrity of customer records and information and against unauthorized access to or use of customer records or information.

 

How can I transfer money to Shusterman Wealth to manage?

You can invest via a check or if you bring in a current statement we can request the funds from your current custodian. If you have an IRA with us and you have money invested in a 401(k), you must contact your Human Resources department and request a rollover packet or ask if they can process it over the phone. Call our office to find out whether the check should be made payable to Pershing, SPTC or another entity. When you receive the distribution check, please mail it to our office and we will process it.

 

 

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