ACCOUNTS

Brokerage Account

Roth IRA

Traditional IRA

401(k) Rollover

SEP IRA

IB Bank Checking

We support many account types in order to serve our client's various needs. Our wealth management services are rendered through our brokerage partner, Interactive Brokers, the #1 ranked online broker in the US. 

 

In order to become a Parker Logan wealth management client, our account reps will send an invite through an automated system via Interactive Brokers.

Brokerage and Trading Account

 

A brokerage account is an arrangement between you and a licensed brokerage firm. Once your account is set up, you can deposit funds and place investment orders through the brokerage account, and the transactions will be carried out on your behalf. You have the freedom to invest in whatever you choose—stocks, bonds, mutual funds, and more—as you own all the assets in your brokerage account.

 

CASH & MARGIN ACCOUNTS
A cash account only allows you to use the cash that you deposited to buy stocks, bonds, mutual funds, or other investments. This type of account presents less market risk as you are only investing assets that you already have, but can be more limiting when timely opportunities or emergencies arise.

 

A margin account allows you to borrow against your eligible securities and can be helpful when you need to buy more securities, take advantage of timely market opportunities, or give yourself a source of overdraft protection. However, margin borrowing is not for everyone, and you should consider all risks and limitations before selecting this option.

 

Individual Retirement Account (IRA)

 

TRADITIONAL IRA
Key advantage: You may get a current tax-year deduction, but you'll have to pay taxes when you take money out in retirement.

 

ROTH IRA

Key advantage: You can get tax benefits later, when you take out your retirement savings tax-free.

 

401(K) ROLLOVER IRA
Key advantage: One way to take control of your retirement savings is to roll over your plan from a former employer.

 

SEP IRA

The Simplified Employee Pension plan, or SEP, IRA is an individual retirement plan that provides a simple method for employers and self-employed persons to make retirement contributions.   Plan documents for the SEP-IRA are much simpler than for a 401(k) retirement plan.

 

A SEP-IRA is one of the easiest small business retirement plans to set up and maintain. You can make sizable contributions for yourself and any eligible employees. There’s little administration, and tax filing isn’t required. And you can vary contributions from year to year—or even skip a year.

 

 

Interactive Brokers Debit Card Mastercard

 

Link your IBKR account* to your real-world expenses. 

Enrolling in the debit card program is quick and easy, provides you with the convenience of accessing your account funds anywhere Debit Mastercard is accepted around the world and lets you spend or borrow directly against your account with no monthly minimum payments and no late fees. 

 

This is a form a margin borrowing on your investment account and should only be utilized conservatively. Before opening and using this debit card we strongly advise speaking with your Parker Logan advisor. 

 

We believe it is a great way to finance medium to large purchases with the intention of paying this money back in a set time period.  (12- 24 months) 

 

Benefits: 

  • Ease of access to your capital

  • Low-cost financing, typically around 4%

 

Learn more about IBRK Debit Card 

Learn more about Interest costs 

 

*Only works with non-retirement brokerage accounts. 

Overview of Monthly Brokerage Activity Fees 

 

Account Structure

Single Accounts, Individuals, Small Businesses

 

Monthly Activity Fee = 0 if monthly commissions are equal to at least USD $10. 

 

Individual equity trades = $0.99 per 100 shares

 

Our typical account does not exceed $120 USD in annual brokerage fees which include trading commissions. 

 

Learn more for detailed info

 

 

© 2018 by Parker Logan Advisors

Parker Logan Advisors is an NY state Registered Investment Advisory Firm.

79 Madison Ave, 3rd Floor, New York, NY, 10016 

Telephone:  646.494.5213    Email:  info@parker-logan.com

 

Disclosure 

Interactive Brokers is the firm that we use to custody our client assets. Interactive Brokers and Parker Logan Advisors, are separate and unaffiliated firms, and are not responsible for each other's services or policies. Interactive Brokers does not endorse or recommend any advisor and the use of the Interactive Brokers logo does not represent the endorsement or recommendation of any advisor. Brokerage services provided by Interactive Brokers LLC, member FINRA/SIPC. Interactive Brokers is a trademark owned by Interactive Brokers LLC used with permission.