Frequently Asked Questions: General Questions
Does Vision offer any account protection?
Vision Financial Markets LLC is a member of the Securities Investor Protection Corporation ("SIPC"). SIPC provides up to $500,000 of coverage, with a limit of $250,000 for claims for cash. This protection does not safeguard against a decline or loss in market value of the securities in your account. For more information, please read Vision's Asset Protection brochure or visit the SIPC Web site.
Can my accountant or another person I designate have access to my information on your Web site and can I have duplicate copies of my trade confirmations and/or statements sent to someone else?
Yes, Vision allows you to authorize other individuals to either access your account information via our Web site or just gain access to your trade confirmations and month end statements. If you would like someone to receive duplicate statements or confirmations you may indicate that on the new account form or provide us with a written request. The ability to trade online via our Web site will never be given out unless you specifically designate an additional authorized trader on your account which requires you to complete, sign and submit a form for such purpose.
When are my trade confirmations available for viewing on Vision's Web site?
Trade confirmations for all of the trading day's transactions are generally available via our password protected Web site on or around 7:30 AM ET.
What is a clearing firm?
A clearing firm is a securities broker/dealer that works with execution partners (whether other broker/dealers, exchanges and/or Electronic Communications Networks) to facilitate the execution, confirmation, delivery, and settlement of securities. A clearing firm also holds customer funds and securities.
Whom should I make the checks payable to?
Checks must be made payable to "Vision Financial Markets" and should contain the account number in which it will be deposited in the memo portion of the check. For IRA deposits, checks must be made payable to "Sterling Trust Company" which acts as the custodian for IRAs at Vision.
How long does it take for my check deposit to clear?
Checks that are deposited into your Vision account have a three day holding period. Check deposits in excess of $100,000 may take longer to clear. Please contact our Client Services team at 1.877.836.3949 if you have specific questions on when your funds will be available.
How do I fund my Vision account?
You can fund your account through the transfer of securities or via a check deposit, wire transfer or ACH (electronic) payment. Please view Vision's Open An Account page for complete details regarding the various methods of funding your account.
What is an ACH transfer and how does it differ from a wire transfer?
An ACH is an electronic funds transfer system that you can utilize through your bank or other financial institution. An ACH transfer is free of charge and the funds are sent the same day, but can take up to 48 hours to be received by the other institution. Wire transfers are sent and received the same day, but involve a fee per transfer which can be expensive.
How do I make a withdrawal from my account at Vision?
Please contact Vision's Client Services team at 1.877.836.3949 to request a withdrawal from your brokerage account. Funds can be sent to you via check, ACH transfer or wire transfer (note there is a fee for wire transfers). In order to take a distribution from a retirement account, you need to complete and submit a Distribution Request Form which is available here.
How do I deposit stock certificates?
To deposit stock certificates into your Vision account, you will need to endorse the back of the stock certificate or sign a stock power and send the original certificates (via registered mail or express service) to:
Vision Financial Markets
Attention: Operations Department
Four High Ridge Park
Stamford, CT 06905
Be sure to reference your account number, and note that the registration on the stock certificate must match the registration on your Vision account. If this is not the case, please contact our Client Services team at 1.877.836.3949 for additional instructions regarding depositing the certificate. Please note that there is a $100 annual fee per certificate for safe keeping. Alternatively, upon request we can re-register a physical certificate into "Street Name" so that it is held electronically. There is a nominal fee for re-registration and no annual custody fee for holding electronic shares in your account.
How do I get stock certificates sent to me?
Securities may be registered in your name and sent to the address of record for a fee. Please contact Client Services at 1.877.836.3949 to request a certificate to be re-registered (if necessary) and shipped.
Can I have my statements and trade confirmations sent to me electronically?
Yes, you can have both documents sent to you electronically. An e-mail will be sent notifying you when either document is posted on our password protected Web site. A hyperlink in the e-mail notification will bring you to the site and after authenticating you will be taken directly to the appropriate section of the site. Vision highly encourages each client to opt for electronic delivery. While paper deliver of month end statements is free of charge, there is a charge of $2.00 per paper trade confirmation. However, there is no charge for electronic delivery and the speed at which you can access the documents is much faster.
I currently get my statements and trade confirmations sent to me via "snail mail" (paper delivery). How do I change this?
You can sign up for online delivery of statements and confirmations by filling out and signing the "Web Site Access and Online Delivery Consent" form which is available on Vision's Web site. You can mail or fax the form to Vision's Client Services team at 1.203.321.0071.
What are the hours of Vision's Client Services team?
Vision's Client Services team can be reached each business day between the hours of 8:00 AM ET and 6:00 PM ET, 5:00 PM ET on Friday's. You can reach us either by e-mail or by telephone: 1.877.836.3949.
Why is "suitability" so important regarding my account?
Vision has the responsibility to determine that investments are suitable for our customers based on the parameters they use to set-up each of their respective accounts. If, for example, you list "preservation of capital" as your primary investment objective, but engage in high risk transactions, this would be a red flag that would cause us to contact you and possibly restrict your account. Should you ever have questions about suitability or need to change the information pertaining to your account, please do not hesitate to contact Vision's Client Services team.
What types of changes in my life require me to notify my brokerage firm?
You are required to notify Vision (or any other brokerage firm with which you maintain an account) on any of the following changes: address, employment, marital status, death of an account holder, investment objectives, risk tolerance, income, liquid or total net worth. You can do so by submitting the "Account Information Change Request Form," which is available on our Web site, to Vision's Client Services team.
What should I do if my address has changed?
If your address has changed, you must notify Vision's Client Services team in writing. Vision can not accept a request to change an address by telephone. Please complete and submit an "Account Information Change Request Form" which is available here. As soon as the address change is made in our system a letter will be sent to both your new and old address to confirm the change.
What options does Vision offer regarding the cash I deposit in my account?
Vision offers our clients a number of options regarding cash held in their brokerage account. Included in these choices are leaving the funds in cash and receiving monthly interest, setting up a money market fund to "sweep" all available cash (click here to learn about the many funds Vision has available from Federated Investors), access to Certificates of Deposit, access to U.S. Treasury securities (including T-Bills) and other short-term investments including investment grade corporate bonds in which you can invest your cash.
Besides the money market funds listed on the Web site, does Vision have any other funds available for clients?
Yes, there are other money market mutual funds then those listed in the "Money Market Sweep" form available for our clients. In addition, for clients with balances over $250,000 Vision can offer access to institutional level money market funds. To find out details, please contact Vision's Client Services team. Please be sure to carefully read the prospectus of any fund before making an investment. The prospectus contains complete information including all charges and expenses.
What is diversification?
Diversification is the attempt to spread out risk by allocating assets into several different classes of investments such as equities, fixed income, cash and cash equivalents, etc. Diversification within a particular asset class attempts to limit losses. For example, if one stock in your portfolio of twenty different stocks drastically loses value, it will theoretically affect you less than if you had only invested in just that one stock.
I received a proxy statement in the mail. What should I do?
A proxy statement is information that the Securities and Exchange Commission requires be provided to all shareholders before a shareholder meeting is held. The proxy statement gives the shareholder the right to vote their shares concerning issues affecting the company. If you wish to participate, carefully read the proxy statement for information and instructions.
If my trading volume is really high do you have alternate pricing available?
For active traders including day traders and professionals, Vision has a separate business model which provides access to an advanced order entry platform. In addition, this business offers reduced pricing from our discount direct business. Please note that this is targeted at traders who usually do in excess of one million shares of stock and/or 15,000 option contracts per month. To learn more, please visit our Active Trader Web site.