What You Should Know About Purchasing DTC CDs
This is a brief overview on the mechanics of investing through ICD.
- Step One: Your ICD registered representative will locate an investment that meets your investment portfolio request.
- Step Two: You will receive a security description offering sheet that will provide all the pertinent information regarding the offering
- Step Three: You confirm the purchase of the offering.
- Step Four: A licensed ICD representative will execute the trade.
- Step Five: You can elect to have the investment delivered to your account or establish an account with Sterne Agee, our clearing firm.
- Step Six: to open an account with our clearing firm the process is simple: Your representative will forward you a New Account Form to establish a cash or DVP account. You will return the signed documents to us along with a corporate resolution and W-9 form.
- Cash accounts: Funds are wired to your account prior to or on the settlement day. All interest payments, open positions and maturing principal will be held on your behalf. Detailed statements will be provided by Sterne Agee online or via mail. The account could be set up to pay interest monthly or twice a month by check or ACH.
- DVP ACCOUNT: Delivery vs. Payment, our clearing firm will deliver the security to your account and your clearing agent will only release the funds upon delivery. Please contact your ICD representative for more details.