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SMA - Types of Accounts

To become a client of Marketocracy Capital Management or open an any account at FOLIOfn, a client must meet the following general requirements:


  • $100,000 account minimum
  • 18 years of age or older
  • U.S. Citizen or Resident Alien (U.S. Permanent Resident)
  • Valid Social Security Number or Individual Tax Identification Number
  • Valid U.S. address


Retirement Accounts1


Roth IRA


Retirement savings with taxable contributions. Providing certain requirements are met, all earnings are tax free upon withdrawal. You also have penalty-free access to your contributions at any time. To be eligible to contribute, you must have compensation and meet Adjusted Gross Income limits.


Traditional IRA


Retirement savings with tax-deferred contributions and investment growth. Savings may compound more quickly than those in a comparable taxable account but are taxable upon withdrawal. To be eligible to contribute, you must have compensation and meet Adjusted Gross Income limits.


Rollover IRA


Move your money directly from one retirement investment, such as a 401(k) or Traditional IRA, to another without incurring taxes or penalties.


SEP-IRA


Use a SEP-IRA if you are a self-employed individual, business owner, or individual who earns any self-employed income to save for retirement.


SIMPLE IRA


Use a SIMPLE IRA if you work for a company who offers a 5304 SIMPLE IRA Plan which allows accounts to be opened at any brokerage firm. Please note: you will need to download a packet of forms for you and your employer to sign and return to us.


 


Non-Retirement Accounts


Individual


Owned and used by one person. Non-US residents cannot open accounts with us.


Joint


Owned by more than one person for the benefit of all account owners. When opening a joint account, you must provide information for both account owners, but only the primary customer will be charged a membership fee, unless the joint holder opens an account of their own. There are several types of joint accounts—choose the one that is best for you.


  • Joint: Rights of Survivorship
    Each account owner owns the entire account. If an account owner dies, their share is equally distributed among the remaining account holders.
  • Joint: Tenants in Common
    Each account owner owns an equal percentage of the account. If an account owner dies, their share is transferred to his or her estate.
  • Joint: Tenants by Entirety
    Account owners must be married. Each owns half the account. If an account owner dies, their share is transferred to their spouse. The following states recognize Tenants by Entirety joint accounts: Alaska, Arkansas, Delaware, Florida, Hawaii, Maryland, Massachusetts, Missouri, Mississippi, New Jersey, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, Washington, DC and Wyoming
  • Joint: Community Property
    Account owners must be married. Each owns half the account. If an account owner dies, their share is transferred to his or her estate. The property does not automatically transfer to the spouse. The following states recognize Community Property joint accounts: Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Puerto Rico, Texas, Washington, Wisconsin


Custodial


This account types allows a custodian to invest on behalf of a minor child. Also known as Uniform Gifts to Minors Act Account (UGMA) or Uniform Transfers to Minors Act Account (UTMA), depending on your state.


Trust


For assets held in a trust. The trust must be established before the account is opened. You must be an authorized trustee to open a trust account.


Business


For legal corporations, professional associations, or professional corporations.


Investment Club


Used by investment clubs for club investments. Accounts are opened under the Tax Identification Number of the investment club and are often managed by the club treasurer.


1. Governmental eligibility rules, contribution limits, taxes, penalties or withdrawal restrictions may apply.

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Contact Info

Marketocracy Capital Management, LLC.


In California:
     26888 Almaden Court
Los Altos, CA 94022
In Texas:
1208 West Magnolia — Suite 236
Fort Worth, TX 76104

(877) 462-4180
info@marketocracy.com