Beacon is Changing Custodians from Charles Schwab to Fidelity Investments.

Here’s What You Need to Know Now:

Will this Impact my Portfolio?

This transition will not impact your current investment portfolio; it will only impact how you access it.

This transition does not equal a change to your investment positions. It’s simply moving from one custodian to another.

This transition to Fidelity means that the investments that you entrust to Beacon to manage will be placed in custody with Fidelity’s clearing firm, National Financial Services (NFS).

What is the Timeline?

To ensure diligence, each client’s account custodial transition will be processed in groups at different times, starting from mid-to-late August and continuing through the next several months. This approach allows Beacon to help make this a smooth and seamless process for you. 

Do I Need to Do Anything Now to Prepare?

At this point, you do not need to do anything. Our team will contact you should we have requests to complete your account transition. If you and your spouse both have individual accounts, we will need a unique e-mail address for each spouse.

To transition your accounts to Fidelity, we will be contacting you to complete the Fidelity account documents that authorize the transfer of your accounts. Your Beacon team will prefill as much information as possible. 

Thank you for your patience and continued trust in Beacon.

As an investment adviser registered with the Securities and Exchange Commission, our firm is required to ensure that all client funds and securities are maintained by a qualified custodian, typically a bank, savings institution, or broker-dealer, responsible for, among other things, holding your assets for safekeeping and providing reporting for the assets maintained in your accounts.

Currently, your qualified custodian is Charles Schwab.

Where will my assets be held going forward?

Investments that you entrust to our firm will be placed in custody with Fidelity’s clearing firm, National Financial Services LLC (“NFS”).

As custodian of your Fidelity brokerage accounts, Fidelity is responsible for:

• The execution, clearance, and settlement of securities transactions
• Preparing and sending periodic statements of your account and transaction confirmations
• The custody (or safekeeping), receipt, and delivery of funds and securities
• The extension of margin credit upon approval

Does Fidelity have safeguards in place to help protect my assets?

Fidelity has a strong net capital position and stringent internal controls. Fidelity also offers a Customer Protection Guarantee that will reimburse you for losses from unauthorized activity in covered accounts occurring through no fault of your own.

Learn more about Fidelity’s customer protection here.

Additional Fidelity Resources include:

• Fidelity Security Overview
• How to add alerts to your Fidelity account
• How to add voice biometrics to your Fidelity account

What is the process to transfer my assets?

In the coming months, you will be asked to complete a set of Fidelity account documents authorizing the transfer of your accounts. As your advisor, we will prefill as much information as possible within the applications and provide them to you to complete via Advisor 360’s signature process or Mail/UPS with instructions on completing the forms.

Once the documents are completed and returned, we will confirm receipt and handle the rest of the transition on your behalf.

I already have a Fidelity login. Will I be able to see everything under my current login?

Yes, you will be able to access your current and new Fidelity accounts together. Additionally, if you would like our firm to manage your other Fidelity accounts, there’s a simple form that will allow us to view and manage your additional accounts on your behalf.

Once all your accounts are at Fidelity, you’ll be able to view everything under your current login at: fidelity.com/portfolio.

Who do I call if I have a problem or a need?

Your Beacon advisor and team will remain your primary contact and be available to assist you.

What correspondence will I receive from Fidelity?

When your accounts are moved to Fidelity, you will initially be mailed correspondence regarding the account opening process due to regulatory requirements and Fidelity’s role and responsibilities.

Throughout our relationship with Fidelity, you will receive a monthly consolidated statement reflecting all your brokerage positions and transactions held at Fidelity. At the end of the year, you will receive a 1099 tax form and a summary statement from Fidelity (in addition to a 1099 from your previous custodian), which can make preparing your tax return much easier.

As per regulatory requirements, Fidelity will periodically send you certain types of correspondence, such as notice of account changes, updates to address, etc. You can limit the amount of paper correspondence you receive by electing e-delivery capabilities at Fidelity.

What are the benefits of e-delivery?

Fidelity offers e-delivery for account documentation. It’s secure, green, and gives you convenient access to your documents when you need them. Sign up for eDelivery here.

Can I access a Fidelity retail investor center?

We recommend that you come directly to your advisor to handle your transactions. If it’s more convenient for you to visit a Fidelity retail center, please contact your advisor so we can make arrangements for you before you visit the branch.

What additional information do you and Fidelity need from me?

The Beacon team will be reaching out to you directly for any additional information needed to complete the transition. An example of the typical documents needed are:

• A valid separate email for each spouse.
• Copies of your statements.
• A voided check, deposit receipt, or bank statement (to set up a bank link),
• Copies of formation documents for business accounts.
• If applicable, copies of trust documents and power of attorney documents can help expedite the transition process.

Once your accounts are open, you can register with Fidelity.com to monitor your account. Take these steps to secure your assets, and sign up for eDelivery to streamline future correspondence.