Industry research has indicated that clients want more than just investment management from their financial advisor relationship. Never complacent and always focusing on where the puck is going, Baldwin Capital Management launched FamOS this summer, which offers holistic financial services to our clients and friends.
We are excited to announce that we can now offer banking solutions through LPL Financial and UMB Bank, Inc.
With a few clicks of a mouse, and a few electronic signatures from you, we can order checks and/or a debit card(s) to be connected to your account with us. There is also a bill pay feature to set up payments, much like you would from your day-to-day checking account.
Just like your traditional bank, the debit card has daily withdrawal limits (and it must be used at least once annually to stay active), but it can be used worldwide—and if there is an ATM fee, it is reimbursed back into your account by LPL.
This banking feature can easily be added to any non-qualified account registration (individual, joint with spouse, or trust), and if you are over the age of 59.5, we can add it to your IRA as well! Note that NO TAXES ARE WITHHELD if you use this withdrawal, or checking writing feature, when connected to an IRA. If you make qualified charitable donations (QCDs) to satisfy some of your required minimum distributions (RMDs), you can now write your own QCD checks from your IRA!
If you would like to learn more, have questions, or want to enroll, please contact our office.
This material is for informational purposes only and does not constitute tax, legal, or investment advice. Please consult a qualified tax professional regarding your individual circumstances.
UMB Bank, Inc. and Baldwin Capital Management are not registered broker/dealers and are not affiliated with LPL Financial.
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC. Tax-related services offered through Baldwin Capital Tax Services DBA Baldwin Capital Management, Inc. Baldwin Capital Tax Services is a separate legal entity and not affiliated with LPL Financial. LPL Financial does not offer tax advice or tax related services.