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| Client Bulletin | |
|---|---|
| June 15, 2010 | WrapManager Closed in Observance of Independence Day WrapManager and the stock market will be closed on Monday, July 5th in observance of Independence Day. |
| May 20, 2010 | WrapManager Closed on Memorial Day WrapManager and the stock market will be closed on Monday, May 31st in observance of Memorial Day. |
| March 24, 2010 | Cash Accumulation Trust Money Market Fund The Board of Trustees for the Cash Accumulation Trust Money Market Fund (CDE) has voted to liquidate and close the fund on or about May 20, 2010. As a result of this, all clients who are currently in this fund will have their cash balances automatically swept over to a replacement fund. The new fund will be the JP Morgan U.S. Government Money Market Fund. Clients may have already received a mailing from First Clearing detailing this, and there will be two more that will follow in the coming months. There will be no fees or capital gains as a result of the conversion. For further details contact WrapManager at 1-800-541-7774. |
| March 23, 2010 | WrapManager closed in observance of Good Friday WrapManager will be closing at 2:30pm PDT on Thursday, April 1st, and will be closed on Friday, April 2nd in observance of Good Friday. |
| February 11, 2010 | WrapManager’s Office Closed on President's Day WrapManager's office and the stock market will be closed on Monday, February 15, 2010 in observance of President's Day. |
| February 3, 2010 | Turbo Tax Discount for WrapManager Clients WrapManager clients are eligible for a 30 percent savings on TurboTax Online Federal Products. Take advantage of this offer by logging into Access Online > Education > TurboTax Downloads. |
| January 22, 2010 | Important 2009 Tax Reporting Dates Listed below are some important dates to keep in mind on when to expect 2009 tax information about your accounts. First Clearing will distribute this information as follows: IRA Fair Market Value: Mailed February 1, 2010 - enclosed in the December statement, shows the value of the account on last business day of 2009 Forms 1099-R and 1099-Q: Mailed February 1, 2010 - reports distributions from your IRA, retirement account or Educational Savings Account Consolidated Statement & Form 1099: Mailed between January 23, 2010 and February 16, 2010 - Reports dividends & other distributions, reportable interest income, proceeds of sales, redemptions & tenders, etc. Some clients may receive amended form 1099s due to revised information received from issuers. Revised forms will be issued starting February 23, 2010 as soon as updated information is received. Schedule K-1: April 15, 2010 mailing deadline - Master Limited Partnership income and capital account information which will be mailed to you directly from the General Partner in March and early April. |
| January 14, 2010 | Office Closed in Observance of Martin Luther King, Jr. Day WrapManager's office and the stock market will be closed on Monday, January 18th, 2010 in observance of Martin Luther King, Jr. Day. |
| December 30, 2009 | WrapManager New Years Holiday Hours WrapManager's office, and the stock market, will be closed on Friday, January 1st, in celebration of New Years Day. |
| December 23, 2009 | WrapManager Holiday Hours WrapManager's office and the stock market will be closing at 1pm EST on Thursday, December 24th and will be closed Friday, December 25th. |
| December 3, 2009 | Homebuyer Tax Credit Expanded With passage of the Worker, Homeownership and Business Assistance Act of 2009, Congress has extended and expanded the homebuyer tax credit. For more information regarding the rules and deadlines please visit the IRS Website |
| November 24, 2009 | Thanksgiving Holiday WrapManager's office will be closing at 1pm PST on Wednesday, November 25th and will be closed Thursday, November 26th and Friday, November 27th in observance of the Thanksgiving Holiday. |
| November 17, 2009 | Tax Loss Selling The end of the year is fast approaching, and so is the deadline for tax loss selling requests. Please contact us so we can review your accounts and holdings to determine if you have losses which can be taken. The deadline for requests in managed accounts is December 4th. For non managed accounts we can process requests up until the end of December. |
| October 27, 2009 | Exclusive Live Webinar: "Investment Insights with Dr. Jeremy Siegel" Join us as renowned market professional Dr. Jeremy Siegel offers his views on the current condition of the markets and the economy. Hear Dr. Siegel’s thoughts on how the balance of the year will play out, and what to look for as the New Year approaches. A special thank you to Wells Fargo Advisors for being the sponsor of this event. Don't miss this timely discussion! Learn more and register today. |
| September 22, 2009 | Program Winds Down as anticipated, generates $1.2 billion in participation fees for U.S. Taxpayers The U.S. Department of the Treasury today (September 18, 2009) announced that the Guarantee Program for Money Market Funds (the "Program") will expire today. The Program was initially established for a three-month period that could be extended up through September 18, 2009. Since inception, Treasury has had no losses under the Program and earned approximately $1.2 billion in participation fees. "As the risk of catastrophic failure of the financial system has receded, the need for some of the emergency programs put in place during the most acute phase of the crisis has receded as well," said Treasury Secretary Tim Geithner. "The Guarantee Program for Money Market Funds served its purpose of adding stability to the money market mutual fund industry during market disruptions last fall and ultimately delivered a healthy return to taxpayers." Treasury designed the Program to stabilize markets after a large money market fund's announcement that its net asset value had fallen below $1 per share ("broke the buck") in the wake of the failure of Lehman Brothers in September of 2008. Maintaining confidence in the money market mutual fund industry was critical to protecting the integrity and stability of the global financial system. Source: U.S. Department of Treasury |
| September 9, 2009 | Prospera Financial Services Named 2009 Broker/Dealer of the Year A big round of applause is in order! Our good friend and close affiliate, Prospera Financial Services, has been named 2009 Broker/Dealer of the Year by Investment Advisor Magazine. The award is based on 15 different categories (service, technology, etc.), including an overall rating which counts for 30% of the total score. The firm receiving the highest average score in each category was declared the winner. Congratulations Prospera! |
| September 3, 2009 | WrapManager Closed on Labor Day WrapManager and the stock market will be closed on Monday, September 7th in observance of Labor Day. |
| August 12, 2009 | Deadline For The 2009 First-Time Home Buyer Tax Credit Approaching The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8000 for purchases that close before December 1. The credit reduces a taxpayer’s bill or increases his or her refund, dollar for dollar. The credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than tax owed. The credit applies only to homes used as a taxpayer’s principal residence, and does not have to be paid back unless the home ceases to be the main residence within a three-year period following the purchase. For more information visit the IRS website. |
| July 7, 2009 | Changes in FDIC Deposit Insurance Coverage Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. (This supersedes the October 3, 2008 changes.) Visit the FDIC website for additional information. The extension announced on May 20, 2009, does not apply to the Transaction Account Guarantee Program. The unlimited coverage under the Transaction Account Guarantee Program is only in effect for depositors at participating institutions through December 31, 2009. |
| June 30, 2009 | WrapManager Closed in Observance of Independence Day WrapManager will be closing at 1:00pm PDT on Thursday, July 2nd and will be closed on Friday, July 3rd in observance of Independence Day. |
| May 20, 2009 | Reminder - Required Minimum Distributions suspended for 2009 The Worker, Retiree and Employer Recovery Act of 2008 suspends required minimum distributions (RMDs) for 2009 for those 70 1/2 and older. Please click here for more details. |
| May 19, 2009 | First Clearing and Wells Fargo - "In it for the Long Haul" Please click here to read about First Clearing's merger with Wells Fargo. |
| May 19, 2009 | WrapManager Closed on Memorial Day WrapManager and the stock market will be closed on Monday, May 25th in observance of Memorial Day. |
| April 6, 2009 | WrapManager closed in observance of Good Friday WrapManager will be closing at 2:30pm PDT on Thursday, April 9th and will be closed on Friday, April 10th in observance of Good Friday. |
| February 10, 2009 | Office Closed on President's Day WrapManager's Office and the stock market will be closed on Monday, February 16, 2009 in observance of President's Day. |
| February 4, 2009 | Important 2008 Tax Reporting Dates Listed below are some important dates to keep in mind on when to expect 2008 tax information about your account. First Clearing will distribute this information as follows: IRA Fair Market Value: Mailed February 2, 2009 - enclosed in December statement, shows the value of the account on last business day of 2008 Forms 1099-R and 1099-Q: Mailed February 2, 2009 - reports distributions from your IRA, retirement account or Educational Savings Account Consolidated Statement & Form 1099: Mailed between January 26, 2009 and February 15, 2009 - Reports dividends & other distributions, reportable interest income, proceeds of sales, redemptions & tenders, etc. Some clients may receive amended form 1099s due to revised information received from issuers. Revised forms will be issued between February 26, 2009 and April 1, 2009 as soon as updated information is received. Schedule K-1: April 15, 2009 mailing deadline - Master Limited Partnership income and capital account information which will be mailed to your directly from the General Partner in March and early April. |
| January 15, 2008 | Turbo Tax Discount for WrapManager Clients WrapManager clients are eligible for a 30 percent savings on TurboTax Online Federal products. Take advantage of this offer by logging into Access Online > Education > TurboTax Downloads. TurboTax downloads of account information through First Clearing will become available on February 10, 2009. |
| January 14, 2009 | Office Closed in Observance of Martin Luther King, Jr. Day WrapManager's office and the stock market will be closed on Monday, January 19, 2009 in observance of Martin Luther King, Jr. Day. |