Investing and retiring frequently asked questions (FAQs) | HSBC
Investing and retiring frequently asked questions
- What is a financial review from HSBC Securities (USA) Inc. ("HSBC Securities")?
- What does HSBC Securities provide?
- I understand there may be other fees associated with an investment account – is there any way I can avoid some of these fees?
- Can I write checks from my brokerage account?
- Is there a fee to open an account?
- Can I have online access to my brokerage account?
- Is my account insured and by how much?
- Why should I choose HSBC Securities as my broker-dealer?
- Do you offer mobile trading applications?
- What types of assets can I transfer into an HSBC Securities Brokerage account?
- Can I household all of my brokerage accounts into one statement?
- What happens if my financial professional leaves?
- What types of accounts does HSBC Securities offer?
- What types of products does HSBC Insurance Agency (USA) Inc. offer?
What is a financial review from HSBC Securities (USA) Inc. ("HSBC Securities")?
A financial review is a meeting in which you and a financial professional1 from HSBC Securities will review your current finances, investment goals, risk tolerance, liquidity needs, time horizon, income, investment experience and other relevant factors so that your financial professional can clearly understand what motivates your investing plans. He or she can then work with you effectively and efficiently to design and implement a personalized strategy. Simply call 866.586.4722 or email us to schedule a financial review.
What does HSBC Securities provide?
HSBC Securities (USA) Inc. has extensive investment capabilities and information resources to help as you build and manage your investment plan. An HSBC Securities financial professional can help you select from a wide range of investments, including HSBC asset allocation solutions, mutual funds, fixed income products, and more.
I understand there may be other fees associated with an investment account - is there any way I can avoid some of these fees?
Yes. In addition to the banking and lifestyle benefits that come from being an HSBC Premier client, you will not be charged inactivity fees, IRA maintenance fees or confirmation fees associated with your HSBC Securities account. To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and maintain $100,000 in combined U.S. personal deposit and investment balances. Business owners may use their commercial balances to qualify for personal HSBC Premier relationship. A monthly maintenance fee of $50 will be incurred if minimum balance requirements are not maintained.
The various charges that may be incurred by investing with HSBC Securities (USA) Inc. are listed on the Commission and Fee Schedule.
Can I write checks from my brokerage account?
We currently do not offer the ability to write checks from a brokerage account, however you can set up a link between your HSBC Securities brokerage account and your HSBC Bank USA, N.A. checking account.
Is there a fee to open an account?
No, there is no fee to open a brokerage account through HSBC Securities.
Can I have online access to my brokerage account?
Yes, our Personal Internet Banking website provides you with the ability to view your brokerage account balance, holdings, statements and confirmations online. Online trading capabilities are also available, limited to stocks and mutual funds, for individual accounts in the U.S. only.
Is my account insured, and by how much?
HSBC Securities (USA) Inc. is a member of the Securities Investor Protection Corporation (SIPC®). As a result, securities in your account are protected up to $500,000 (of which $250,000 can be for claims for cash awaiting reinvestment). For details please see SIPC. Please note that SIPC does not protect against loss due to market fluctuation.
Why should I choose HSBC Securities as my broker-dealer?
HSBC Securities has extensive investment capabilities and information resources to help as you build and manage your investment plan. A financial professional can help you select from a wide range of investments, including exclusive HSBC asset allocation solutions, mutual funds, fixed income products, and more.
Do you offer mobile trading applications?
No, unfortunately at this time HSBC Securities does not offer mobile trading capabilities.
What types of assets can I transfer into an HSBC Securities Brokerage account?
We would be happy to help you transfer all types of assets, including but not limited to equities, mutual funds, fixed income securities, and options that you may have. We are also able to facilitate the trading of many non-U.S. currencies. Please call us at 866.586.4722 or email us with questions about specific asset classes or currencies.
Can I combine all of my brokerage accounts into one statement?
Managing all of your accounts can be complicated and time consuming, but we can help you get organized and keep track of your multiple accounts. You can link all of your accounts that share the same mailing address. For instance, statements from individual retirement accounts for yourself and for your spouse can be consolidated, prepared with a summary cover page, and mailed to you in one package. You may also choose paperless eStatements through Personal Internet Banking. We provide you the option of enrolling in electronic delivery of account communications, which offers the following benefits:
- Convenience and flexibility
- Increased security
- Centralized recordkeeping
What happens if my financial professional leaves?
In this event, your relationship will be assigned to a new HSBC Securities financial professional as soon as possible.
What types of accounts does HSBC Securities offer?
Our full-service brokerage account offers trading in stocks, ETFs, mutual funds, bonds and options. For more details on the other types of accounts we offer, please review our complete list of products and services below:
- Trust accounts:
Invest and manage a brokerage account on behalf of a pre-nominated beneficiary.
- Estate accounts:
An account where you invest and manage a brokerage account as the court-appointed executor on behalf of an estate.
401(k) Retirement Plan
403(b) Retirement Plans
SEP Retirement Plans
- Managed accounts:
HSBC World Selection Spectrum Account
Managed Portfolio Accounts
- Education planning:
529 College Savings Plans (529s)
Coverdell Education Savings Accounts (ESAs)
Custodian Accounts (UGMA/UTMA)
- Structured products:
Market-linked Structured Certificate of Deposit
Structured Notes without Principal Protection
- Insurance and annuities:
Variable Life Insurance
What types of products does HSBC Insurance Agency (USA) Inc. offer?
Traditional Insurance Products:
- Whole Life Insurance
- Term Life Insurance
- Universal Life Insurance
- Single Premium Life Insurance
- Long-Term Care Coverage
- Disability Insurance
Investment and certain insurance products, including annuities, are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. In California, HSI conducts insurance business as HSBC Securities Insurance Services. License #: OE67746. HSI is an affiliate of HSBC Bank USA, N.A. Whole life, universal life and term life are provided by unaffiliated third parties and are offered through Insurance Agents of HSBC Insurance Agency (USA) Inc., which is a wholly owned subsidiary of HSBC Bank USA, N.A. Products and services may vary by state and are not available in all states. California license #: OD36843.
|Investment, Annuity and Insurance Products:|
|ARE NOT A BANK DEPOSIT OR OBLIGATION OF THE BANK OR ANY OF ITS AFFILIATES||ARE NOT FDIC INSURED||ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY||ARE NOT GUARANTEED BY THE BANK OR ANY OF ITS AFFILIATES||MAY LOSE VALUE|
All decisions regarding the tax implications of your investment(s) should be made in connection with your independent tax advisor.
Research backgrounds of brokers and brokerage firms for free by visiting FINRA's BrokerCheck website
1 Financial professional refers to Premier Wealth Advisors (PWA), Premier Relationship Advisors (PRA) and Financial Advisors (FA). PWA/PRAs primarily focus on a full suite of Premier products and services while FAs primarily focus on a full suite of Advance products and services. Both offer bank products through HSBC Bank (USA) N.A., investments and certain insurance products, including annuities, through HSBC Securities (USA) Inc. and traditional insurance products through HSBC Insurance Agency (USA) Inc.
2 Investments in variable products will fluctuate and values upon redemption may be less than the original amount invested. Variable annuities are designed to be long-term investments and frequently involve substantial charges such as administrative fees, annual contract fees, mortality & risk expense charges and surrender charges. All decisions regarding the tax implications of your investment(s) should be made in connection with your independent tax advisor. When investing in tax-deferred annuities additional risks apply and may not be suitable for all investors. Early withdrawals may impact annuity cash values and death benefits. Early surrender charges may also apply. An additional 10% IRS penalty may apply to withdrawals prior to age 59 ½. If you are investing in a variable annuity through a tax-advantaged retirement plan such as an IRA, you will receive no additional tax advantage from a variable annuity. Under these circumstances, you should only consider buying a variable annuity if it makes sense because of the annuity's other features, such as lifetime income payments and death benefit protection. Features that provide lifetime income are optional and can be purchased at an additional cost. For more complete information, contact your Financial Professional to obtain a current prospectus. Please read the prospectus carefully before investing or sending money.
United States persons (including U.S. citizens and residents) are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their U.S. and non-U.S. accounts including, for example, Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts ("FBAR")). U.S. persons should consult a tax adviser for more information.
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