FAQ

We offer a wide variety of investments for a wide range of account types. Investments include stocks, bonds, mutual funds, options, and cds. Account types include Individual, joint, transfer on death, trusts, IRAs, Roth IRAs, 529 College Plans, Custodian, 401(k) plans, SEP IRAs, Simple IRAs, and 403(b) plans.

Traditional IRA

The tax breaks for a traditional IRA are tax-deductible. That means that the money you deposit in your IRA isn't taxed. And regardless, whatever earnings you ahve on your contributions won't be taxed until you withdraw that money many years later.

If you withdraw the funds before age 59 1/2, then in most cases you'll have to pay both income tax and a 10% penalty on whatever earnings have accured -- but if the funds are used to pay for "qualified higher education expenses" then the penalty wil be wavied.

Roth IRA

The tax breaks for a Roth IRA are different. Unlike a contribution to a traditional IRA, a Roth IRA contribution is never deductible. When you withdraw money from a Roth IRA, none of it -- and that includes the earnings -- will be taxed, assuming that the Roth IRA has been open at least five tax-years and you are older that age 59 1/2.

In other words, the Roth offers tax-exempt rather than simply tax-deferred savings.

The Roth makes particular sense for people otherwise limited to making non-deductible contributions to a regular IRA. And the Roth is fully available to single filers making up to $95,000 an couples making up to $150,000. It also allows you great flexibility by allowing you, in many cases, to withdraw your principal contributions at any time tax-free, without penalty. First-time home buyers can also pull out $10,000 in profits penalty free and tax-free if the money has been in the Roth IRA for at least five tax years. There are also some breaks for education spending, though an Education IRA may be a better vehicle for education savings. Barring these exceptions, though, profits withdrawn before retirement age and before the money has been in the Roth for at least five tax-years will be taxed, plus you'll also incur a 10% penalty when those earnings are taken before age.

There is no minimum to deposit.

2009: $5,000 (+$1,000 catch up)
2010: $5,000 (+$1,000 catch up)
2011: TBD

RBC Correspondent Services. They are located in Minneapolis MN. RBC Wealth Management, formerly known as RBC Dain Rauscher (established 1909), is one of the leading full-service investment, advisory and wealth management boutiques in the United States.

Your consultation with us is complimentary! We offer a no-pressure, no-obligation consultation. We want to make sure we're a right fit for each other! You will not be under any obligation to open an account.

This is hard to determine as many factors come into play. These include the number of shares, the amount of the position among others. There is a minimum commission on each transaction of $50.

After opening your account with us, you will find that only a minimal amount of paperwork is required. We will require a recent statement from your former firm, and the rest is left to us! We will notify you when your account has been transferred.

IRA accounts have an annual fee of $35. Other accounts have a fee of $85, but will be waived if at least 2 trades are done. Other fees include: Wire fee: $10; Overnight a check: $10; TOD: $50

Yes. We offer 2 different options: The first is a free checking account with checks only. The second is $125/year which includes checks and a debit card. This fee is waived if the family account value is $250,000 or more.

Yes. You can register at www.investor-connect.com. You can look at your account balance, positions, recent transactions, open orders. You can also access monthly statements, confirmations, and tax documents.

Monthly statements are mailed out if there was activity in the account for that month. Otherwise, quarterly statements will be sent.

Yes. We can initiate an ACH wire to or from your bank. We can set it up to have it wet up automatically to go weekly, monthly or quarterly.

Yes. RBC Capital Markets Corporation is a member of the Securities Investor Protection Corporation (SIPC), which protects your clients' accounts up to $500,000 each (limited to $100,000 cash).