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Introducing Pershing's Year-end Account Report

Issue 3 - December 2008

A Year in the Life of an Account

As with other things in life, clients are sometimes unable to focus on their investments until a need arises—a life-changing event, college financing, a new home, a big vacation, or tax time. As a result, you may find yourself responding to client requests for information on an unscheduled, ad-hoc basis.

Also, while your clients will have a general sense of account activity and holdings, they may not understand everything that has transacted throughout the year, or why.

To help you assist clients in understanding the activity that has occurred over the course of a year, Pershing now offers a new client report, the Year-End Account Report, designed to provide a comprehensive annual review of each client’s account. In one document, the Year-End Account Report captures all account activity, showing information that spans from January 1 to December 31.

This new report is a tool to help you tell the story behind the accounts that you have helped manage. The Year-End Account Report will not replace, but supplement your clients’ monthly and quarterly brokerage account statements and offers additional benefits:

  • A basis for discussion with your clients about overall account activity and strategy
  • A helpful review to evaluate investment strategy and organize account data
  • A convenient year-end snapshot of account activity for both you and your clients

Same Customization Options as Brokerage Account Statements, But Longer Time Period
The Year-End Account Report will mirror the format and customization options of the brokerage account statements that your firm has chosen for your clients, with the primary difference being the time period of information provided (annual instead of monthly or quarterly). Also, while Pershing will automatically generate brokerage account statements for all of your clients, the Year-End Account Report will be produced only for enrolled accounts, at an annual fee.

To accommodate the varying needs of your client base, we have built a flexible enrollment process for the Year-End Account Report so that you may include or exclude accounts based on a variety of criteria.

A Year of Information Without a Ream of Paper
For clients who have elected to suppress paper delivery of their brokerage account statements, paper delivery of the Year-End Account Report will also be suppressed. Those clients can access the Year-End Account Report online in NetExchange Client®, our investor web site, or e-Document Suite™ (e-Docs) in NetExchange Pro®, our premier online brokerage platform.

Enroll Your Clients Today
Please refer to Pershing’s Task Reference titled “How to Enroll Accounts for the Year-End Account Report” (available in the Material Catalog in The Source via NetExchange Pro) for step-by-step enrollment instructions.

Please remember, the opportunity to enroll accounts to receive the Year-End Account Report ends January 5, 2009.

Enhancing the Enrollment Process for the Tax and Year-End Statement
Last year, Pershing introduced the Tax and Year-End Statement, a premium version of the client 1099 statement that includes a schedule of realized gains and losses along with other useful year-end information.

Based on customer feedback, we have enhanced the Tax and Statement process to include more robust enrollment options for the new Year-End Account Report.

For both the Year-End Account Report and the Tax and Year-End Statement, you may now enroll all or select accounts at the introducing broker-dealer, office, investment professional, or account level. You may also set rules based on a variety of enrollment criteria, such as account type or account value for the Year-End Account Report, or account value for the Tax and Year-End Statement. To help you manage enrollment exceptions, there are also "Exclude" options to override any "Include" criteria that you may set for these documents.

Learn More
Please contact your home office for more information. You may also refer to Pershing’s Task Reference titled “How to Enroll Accounts for the Tax and Year-End Statement” (available in the Material Catalog in The Source via NetExchange Pro) for step-by-step enrollment instructions.

Please remember, the opportunity to enroll accounts to receive the Tax and Year-End Statement ends January 5, 2009.

  Year-End Account Report Tax and Year-End Statement
Tax and Year-End Statement The Year-End Account Report mirrors monthly or quarterly brokerage account statements, but reflects account activity for a full year, from January 1 through December 31. A premium version of the 1099 statement that includes realized gain and loss information. For ProCash Plus® Gold and Platinum clients, the Tax and Year-End Statement also includes 12 months of checking and debit card activity, electronic deposits and withdrawals, and dividends and interest.
Enrollment Period:
September 22, 2008 through January 5, 2009
Manual enrollment at the introducing broker-dealer, office, investment professional, and account level; all accounts are eligible. Automatic enrollment for all 1099-eligible ProCash Plus Gold and Platinum Accounts.

Manual enrollment at the introducing broker-dealer, office, investment professional, and account level—only Performance Evaluation System® (PES®)-eligible accounts will be enrolled.

Pricing An annual fee, plus postage and handling, will be charged for each enrolled account. An annual fee will apply for manually enrolled accounts. ProCash Plus Gold and Platinum Accounts are automatically enrolled at no extra charge.
e-Document Suite and Paper Suppression Options Available for viewing in e-Document Suite. For clients who have elected to suppress paper delivery of their brokerage account statements, paper delivery will also be suppressed, with an e-mail notification sent when the report is ready for viewing. Postage and handling charges will, therefore, not apply. Available for viewing in e-Document Suite™; paper suppression is not available.

For Professional Use Only.

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