Administration

Transferring Assets | Asset Transfer Policy

Charles Schwab Institutional is the custodian for most Archer Investment Management clients. We provide you all the paperwork needed to open accounts and transfer assets to Charles Schwab.

All stocks, bonds and cash will transfer directly into your Charles Schwab account. Old securities will be liquidated by AIM as necessary to restructure your account to the new strategy. You may also choose to sell all securities through your current custodian, although that option may be more costly than paying the low commission rates provided by Charles Schwab.

Some proprietary mutual funds and limited partnership interests may not transfer. Our operations team will notify you of non-transferable securities. Those items must be sold through your current brokerage firm before the cash value of those securities will transfer.

The asset transfer process can take several weeks depending on the type of securities to be transferred and account types. For example, Individual Retirement Accounts (IRAs) take longer than personal accounts. The transfer period depends on the accuracy of the information provided and the efficiency of your current custodian.

Low Cost Basis Securities

Many clients have securities in taxable accounts that are at a low cost basis. Selling those securities may create a realized capital gain and possibly a taxable event. We understand this issue and our clients’ concerns about taxes. If for any reason you do not want specific securities sold, we will arrange for those securities to be moved to a non-managed account opened in the same name as the managed account.

Cash Policy

New cash and securities transferred into an existing managed account will be automatically invested in the asset class where needed. If, for a special reason, a client does not want the cash invested or securities liquidated, contact Archer Investment Management at least one working day prior to the anticipation of a cash deposit or securities transfer.

Clients may withdraw money from accounts in two ways: automatic cash transfers and on-demand cash transfers. Both transfers can be set up to move money from one Schwab account to another or directly to a bank checking account. The bank transfer is done through the Schwab MoneyLink system at no cost. There is a one-time set-up for regularly scheduled transfers. On-demand transfers and traditional paper checks sent in the mail may take a number of days to arrive.

Schwab MoneyLink Transfers

MoneyLink is the preferred method for moving money from your Schwab account to your bank checking account. It is a free service that only needs to be set up once. Clients may have automatic monthly or quarterly distributions sent over the MoneyLink system. When special funds are needed, contact Archer Investment Management, and those funds will be sent directly to your bank checking account in a lump sum. There will be a delay of a few days in transferring on-demand money because we may have to raise the cash in the account. On-demand MoneyLink transfers occur approximately five business days after we are notified.

Legal Disclosures | Disclosure Documents

Archer Investment Management Form ADV Part I
Form ADV Part I is a U.S. Securities and Exchange Commission (SEC) filing that provides the basic business structure of Archer Investment Management and explains how we are legally registered. Form ADV Part I can be printed from the SEC website.