Fillable Form 587368 - Wellstrade Customer Account Transfer (Page 3 of 6) in pdf

Terms & Conditions

Client Instructions to Delivering Firm

If this account is a qualified retirement account, I have amended the applicable plan so that it names First Clearing, LLC (FCC) as

successor custodian. Unless otherwise indicated in the instructions above, please transfer all assets in my account.

I understand that to the extent any assets in my account are not readily transferable with or without penalties, such assets may not be

transferred within the time frames required by FINRA Rule 11870 or similar rule of other designated examining authority. I authorize you

to liquidate any nontransferable proprietary money market fund assets that are part of my account and transfer the resulting credit

balance. I authorize you to deduct any outstanding fees due you from the credit balance in my account. If my account does not contain a

credit balance, or if the credit balance in the acc ount is insufficient to satisfy any outstanding fees due you, I authorize you to liquidate the

assets in my account to the extent necessary to satisfy that obligation. If certificates or other instruments in my account are in your

physical possession, I instruct you to transfer them in good deliverable form, including affixing any necessary tax waivers, to enable the

successor custodian to transfer them in its name for the purpose of sale, when and as directed by me. I understand that upon receiving a

copy of this transfer instruction, you will cancel all open orders for my account on your books. I affirm that I have destroyed or returned to

you credit/debit cards and/or unused checks issued to me in connection with my securities account. I understand that you will contact me

with respect to the disposition of any assets in my securities account that are non-transferable.

• I understand that fractional shares may not transfer in kind and may be required to be liquidated to complete a full transfer.

• When applicable, I authorize the delivering firm to discontinue all account management agreements immediately. The client will have

sole responsibility for investment decisions with respect to the securities, cash and other assets in the client's account until the client

hires a new investment decision manager.

• CLIENT PLEASE NOTE: (Applicable to retirement accounts only) Regular IRA contributions can be commingled with rollover/direct

rollover contributions. Please consult with a tax advisor to determine the best option for your situation. I understand and

acknowledge that commingling may preclude me from rolling funds from my IRA to another qualified plan or 403(b) plan.

IRA Direct Rollover from Qualified Retirement Plan (QRP) Irrevocable Election

A direct rollover is a reportable distribution from a QRP to an IRA or another QRP. Due to the important tax consequences associated

with rolling over funds or property to an IRA from an employer held plan, when you sign this Customer Account Transfer form, you

acknowledge the following: the IRA Custodian is not responsible for providing you with tax or other legal advice; you have been advised

to see a tax professional and no broker or other employee is authorized to give such advice. You are aware that the rollover from the

QRP is an irrevocable election and you are certifying that all information provided on this form is true and correct. You are certifying that

you understand the rules and conditions associated with making a direct rollover and that the assets being moved from the QRP are

eligible for rollover into an IRA or another QRP. You are also assuming full responsibility for this direct rollover transaction and will not

hold the IRA Custodian liable for any adverse consequences that may result.

Age 70½ Required Minimum Distribution (RMD) Retirement Account Reminder

If you are age 70 1/2 or older, or if you will attain age 70 1/2 this year, the IRS requires that the first monies withdrawn from your

retirement account be your required minimum distribution (RMD) for the year. Although the IRS permits you to transfer your RMD

between like IRAs, you are not permitted to roll over an RMD even as a direct rollover from a QRP. Be sure to satisfy your RMD before

requesting a direct rollover. If you need additional information about this requirement, please contact your legal or tax advisor.

Auction Rate Securities: Account Transfer Acknowledgement

You understand and agree to the following in connection with the auction rate securities held in your account:

• Your auction rate securities were purchased prior to the transfer of your account to us. As a result, we are not responsible or liable

for any prior recommendations or advice with respect to these securities nor are we under any obligation to provide you with any

investment recommendation or advice with respect to the disposition or continued holding of these securities in your account

following the transfer of your account.

• You also understand and agree that we are not under any obligation to you (i) to provide loans under margin agreements or

otherwise secured in whole or part by the auction rate securities in your account, (ii) to purchase or continue to purchase any

auction rate securities in periodic rate setting auctions or in secondary market transactions, or (iii) to provide liquidity for such

securities. Many auctions for these securities are in failed status meaning that holders of these securities are not able to sell these

securities in the periodic rate setting auctions or in secondary market transactions and as a result, liquidity for these securities

currently is greatly impaired. We provide no assurance that you will be able to sell or otherwise dispose of these securities following

the transfer of your account to us. You understand that we take actions in connection with other customers that we do not offer you

in connection with your auction rate securities.

Revocation of Advisory Agreements

When applicable, I authorize the delivering firm to discontinue all account management agreements immediately. The client will have

sole responsibility for investment decisions with respect to the securities, cash and other assets in the client's account until the client

hires a new investment decision manager.

Margin Agreements

Accounts for which the client signed Margin Agreement has not been received by the Firm may be subject to restriction, sellout, and

closure after review by the Credit Margin Department.

Wells Fargo Bank, N.A. Agency Accounts

This document constitutes my instruction to Wells Fargo Bank, N.A. to terminate the above referenced account and transfer as instructed

to First Clearing, LLC.

587368 (Rev 06 – 04/14) Page 2 of 5

Form 587368 - Wellstrade Customer Account Transfer Page 3

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