Scottrade Specialty Accounts

Specialty Accounts

Besides offering you a full line of investment services, including IRA accounts and online stock trading and mutual fund accounts, the Scottrade discount brokerage firm also spotlights a variety of specialty accounts dedicated to helping you meet your investment goals.

For detailed information on any of these financial services, contact a Scottrade stock broker in your area and he or she will be more than happy to explain these accounts in more detail so you can decide which ones are right for your personal and financial needs.

Types of Specialty Accounts

Trust Account

A trust account involves a fiduciary relationship, when a person, called a trustee, handles property for the benefit of another person, the beneficiary.*

Estate

The Estate includes the ownership rights or claims to property, both real estate and personal property, at the time of death. The total of a person's assets passes to his heirs, according to the terms of a will, or is disposed of at the discretion of a probate court if no will is left. Individuals plan for the orderly distribution of an estate through estate planning, which involves the drawing of will and creation of trusts, to achieve maximum benefit for heirs or trust beneficiaries in event of death.*

Partnership

Scottrade specialty accounts can cover a variety of different partnerships.

  • Partnership – an agreement by persons, stating, among other things, the nature of the business being formed, the capital contribution of each partner as well as the duties and responsibilities, and the share in net profits of the organization.*
  • Limited Partnership – business in which an individual or party who participates in its affairs as a minority investor receives a share of the profits (or losses) that is limited by agreement.*
  • Limited Liability Partnership – similar to an LLC, but used by professional associations

Investment Club

Group of investors who pool their money and make joint investments.

Sole Proprietorship

Sole Proprietorship accounts are for unincorporated businesses owned and controlled by one person, ordinarily under a business name other than the owner's. Sole owners are treated as individual accounts, and may open interest bearing checking accounts, unlike corporations.*

Corporate Accounts

An account held in the name of a corporation.

Stock Broker Assisted Account

Scottrade also welcomes traditional brokerage customers who do not perform stock trading transactions over the Internet. For your convenience, we have more than 340 brokerage branch locations across the country staffed with stock brokers who will promptly transact your business via the phone or in person.

Our traditional brokerage commissions for stock trading orders are just two cents per share in addition to the online stock broker-assisted and touchtone rates. The online stock broker-assisted commissions for other types of transactions, including stocks priced under $1 also apply to our traditional stock investment customers.

As a traditional customer, you'll receive mailed confirmations and statements at no additional charge.

Limited Liability Company

LLC is a type of business organization, recognized as a legal form of business in most states, combining features of a corporation and a partnership. Treated as a partnership, an LLC provides its organizers with liability protection from claims and lawsuits similar to a corporation, and its owners are taxed as individuals.*

401K Plans/Defined Benefit/Money Purchase/Keogh DVP

Qualified plans that meet the requirements of the IRS for the exclusive benefit of employees and their beneficiaries.

* The catalog defined above has been adapted from Barron's Dictionary of Banking Terms, Fourth Edition, by Thomas P. Fitch.

This information is not intended to be legal or tax advice. Please consult a tax, legal, or financial professional with questions.

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Brokerage Products and Services offered by Scottrade, Inc. – Member FINRA and SIPC.

No information on this web site should be considered a recommendation or solicitation to invest in a particular security or type of security.

Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund carefully before investing. A mutual fund's prospectus contains this and other information about the mutual fund. Prospectuses are available through our trading site or through a Scottrade branch office. The prospectus should be read carefully before investing.

Margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market. Scottrade's margin agreement is available on our web site and at our branch offices; and contains the Margin Disclosure Statement and information on our lending policies, interest charges, and the risks associated with margin accounts. Options are not appropriate for all investors. Detailed information on our policies and the risks associated with options can be found in Scottrade's Options Application and Agreement, Brokerage Account Agreement, and Characteristics and Risks of Standardized Options (available from your local branch office or here). All option accounts require prior approval by Scottrade.

Market volatility, volume, and system availability may impact account access and trade execution.

Testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.