A Personalized Portfolio is a brokerage account that you own, but that an investment advisor (in this case Motley Fool Wealth Management) manages for you. Fool Wealth’s Personalized Portfolios are composed of actively managed, individual securities held in a brokerage account at Interactive Brokers, our exclusive custodian.
Personalized Portfolios offer three primary benefits over other investment account types:
Please note that whatever portion of your portfolio you dedicate to a Personalized Portfolio will be managed only by the Motley Fool Wealth Management team -- you will not be able to make trades in this specific account.
Motley Fool Wealth Management charges an industry-standard, assets under management (AUM) fee, that is taken directly out of the account we manage for you on a monthly basis.
Our AUM fee follows a tiered structure based on the amount you have invested with us.
Fees for stock-based portfolios:
|Asset Level||Annual Fee|
|First $1,000,000||0.95% of aggregate assets|
|Amounts over $1,000,000||0.75% of aggregate assets|
Fees for index-based portfolios:
|Asset Level||Annual Fee|
|First $100,000||0.50% of aggregate assets|
|Next $900,000||0.40% of aggregate assets|
|Next $4,000,000||0.35% of aggregate assets|
|Next $10,000,000||0.30% of aggregate assets|
|Amounts over $15,000,000||0.25% of aggregate assets|
In addition to the management fee, certain MFWM strategies may utilize exchange traded funds (ETF) that are subject to fees and expenses that are passed along to clients. Depending on the strategy, these underlying fund fees and expenses may be significant. Index-based strategies that exclusively utilize ETFs will have higher fund-related fees and expenses.
You will also be responsible for the custodial fees and commissions charged by Interactive Brokers for operating the account. The most common custodial fees are trading costs. There is a transaction fee assessed on each share traded, but a large part of why we chose Interactive Brokers as our partner and custodian is because they offer very inexpensive trading fees, sometimes as low as a third of a penny per share.
For more information about current Interactive Brokers' fees, please see their website. The commission schedule as of 12/1/2017 is copied below for your reference. The monthly volume tiers will be measured by the collective volume of all the Personalized Portfolio accounts combined. This is one of the ways you can benefit from the scale of the Motley Fool Wealth Management's Personalized Portfolio program.
|Share Volume (per month)||Commission per share: US Stocks, ETFs, and Warrants||Maximum per Order|
0.5% of trade value
300,001 - 3,000,000
0.5% of trade value
3,000,001 - 20,000,000
0.5% of trade value
20,000,001 - 100,000,000
0.5% of trade value
0.5% of trade value
In addition to the management fee you will pay to Motley Fool Wealth Management, you will be responsible for the trading and account level fees that are charged by Interactive Brokers (IB). Typically, those account fees include:
You may also choose to participate in the Stock Yield Enhancement Program (SYEP) which allows Interactive Brokers to lend your shares to other IB clients on a short term basis to allow them to short. You would be paid a portion of the fee that IB charges to that other client to short. This program may offset some of the cost of maintaining an account if you choose to participate.
Please read the account opening disclosures from IB carefully for a complete description of their fee structure and how the SYEP program works.
Other Interactive Brokers fees may apply. Please familiarize yourself with them.
The absolute minimum amount you’d need to invest with Motley Fool Wealth Management is $15,000. However, as the amount to invest increases, the portfolio that Motley Fool Wealth Management recommends for you might change. Our recommendation will always be based on your time horizon, and risk tolerance - but at larger dollar amounts, more robust portfolios may be available.
Household billing allows you and members of your immediate family (as defined in our Investing Advisory Agreement) to benefit from the total relationship that you have with Motley Fool Wealth Management. Rather than assessing our pricing structure on each individual account, we will view the relationship as a whole, and provide the most favorable pricing tier according to each account that is part of the billing group.
Because there are a number of ways that a client could be paying for account management, the details of what happens following the unfortunate passing of an account owner are too numerous to include in this FAQ. If you are concerned about this, or you are a relative of a client that has passed away, please call us at 844-408-4390 to discuss your specific situation with a member of our team.
Once your account is under our management, Motley Fool Wealth Management, in discretionary capacity, would be managing your money for you. That means Fool Wealth would make all the trades - you cannot transact in the account, nor can you tell us what securities to buy and sell. You will still be able to add funds, withdraw funds, restrict a few specific stocks, and disconnect your account from Motley Fool Wealth Management's authority.
Put simply, Motley Fool Wealth Management would have sole investment discretion over the course of our advisory relationship. So please note that we do not take investment instructions from our clients (although you do retain the ability to place or remove trading restrictions on specific securities in your account).
Interactive Brokers will be the custodian of your account, which means that they are responsible for the safekeeping of your assets - Motley Fool Wealth Management only directs the trading activity within your account and doesn't hold your assets directly.
Foolish Personalized Portfolios are set up exclusively through Interactive Brokers. After meeting extensively with multiple other brokerages, Motley Fool Wealth Management partnered with Interactive Brokers as the custodian and broker for our Personalized Portfolios based on a combination of their low-cost trading fees and their ability to quickly and efficiently execute trades.
No - FDIC insurance applies specifically to banks and bank deposits. Your Personalized Portfolio is an investment brokerage account that will be subject to market fluctuations.
Customer securities accounts at Interactive Brokers LLC are protected by the Securities Investor Protection Corporation ("SIPC"), which protects consumers against the failure of a broker dealer.
For more information about SIPC and answers to frequently asked questions (such as how SIPC works, what is protected, how to file a claim, etc.), please refer to the following websites:
Foolish Personalized Portfolios can only be held at Interactive Brokers. You will need to transfer your account to IB before we can start managing it for you. However, in most cases, you can simply transfer your current securities into the Fool Wealth managed account without liquidating them first. If you have questions about which securities can and can’t be transferred, give us a call at 844-408-4391 and our team of experts can guide you through the process.
Once you have approved an allocation for your Personalized Portfolio, you will be directed to open a new account with our custodian brokerage, Interactive Brokers. It is important that you do this through our portal, not simply by visiting Interactive Brokers as a regular retail customer. In most cases, assets within a brokerage account can be transferred very simply using what is called the Automated Customer Account Transfer System (ACATS).
This is just a fancy way of letting Interactive Brokers know that you have an existing account at another institution. IB will then facilitate moving the assets from your former broker to your new Personalized Portfolio. Once your account is fully funded, the Motley Fool Wealth Management team will then do all of the trading and balancing required to deploy our recommendations across your account.
Depending upon where your current account is held, the Automated Customer Account Transfer System (ACATS) allows you to transfer assets from eligible brokerage accounts without liquidating your current positions. For non-ACATS-eligible accounts, you may need to sell your current investments and simply transfer cash. Most common brokers are available on the ACATS system (Fidelity, TD Ameritrade, E-Trade, Charles Schwab, Morgan Stanley, Merrill Lynch and more). However, companies like Vanguard and Capital One are typically not ACATS eligible and will need to be transferred using a different method. If you are unsure whether your current broker is eligible for ACATS transfers, the team at Interactive Brokers can help during the account opening process to determine the best transfer method.
In rare cases, even if your account is ACATS eligible, your current holdings won't be able to be transferred, and would need to be sold so you can transfer cash. As part of the ACATs process, you can perform a position eligibility check to verify whether a position will be accepted, or if it will need to be liquidated to cash first. For instructions on performing that check, please click here.
Alternatively, your Personalized Portfolio can be funded with cash directly from a bank account using an ACH transfer or wire transfer.
Keep in mind that if you are moving a taxable brokerage account there will be tax implications associated with moving your portfolio to Fool Wealth. We recommend consulting with your tax advisor or CPA prior to moving the account if you are concerned about tax implications.
To start the application process, you'll need to sign up and log in to the Motley Fool Wealth Management site.
We'll ask you to answer a few questions about your financial goals and needs, after which we'll build a custom blended portfolio allocation that is specifically tailored to your risk tolerance and investing objectives. Or, if you'd like, you may also choose from one of our five signature portfolio models (Supernova, Pro, Million Dollar Portfolio, Everlasting or Dividend) on an a la carte basis. After you accept an allocation, you'll need to open and fund your account using the Interactive Brokers application process.
If you need help with this process, don’t worry – we can walk you through the entire experience over the phone. Currently, we support opening the following account types over the phone:
Once you open and fund your account, Motley Fool Wealth Management will actively trade securities on your behalf based on the strategy you accept. And remember, you can log in to your Interactive Brokers account at any time to see your holdings, transactions, and returns.
Before opening a Motley Fool Wealth Management Personalized Portfolio, we'll ask you a series of questions to judge your wealth-building goals, investment interests, and unique situation in life.
Based on your answers to the questionnaire, we’ll present a diverse, risk-adjusted portfolio made up of Motley Fool Wealth Management’s strategic models (Supernova, Pro, Million Dollar Portfolio, Everlasting, International, U.S. Small and Mid-Cap, Dividend, Small and Mid-Cap Dividend and Fixed Income) — personalized for you.
We know that the nuances of your financial situation cannot be captured in a questionnaire. That’s why we allow you to adjust our proposed portfolio by making it more or less risky, or to invest your entire account in a specific strategy. Every client is onboarded by a member of our financial planning team, so you can discuss any circumstances that are relevant to your portfolio selection.
Once you decide to open and fund that account, the Motley Fool Wealth Management team will manage every aspect of it (e.g. buying, selling, rebalancing, etc.) on your behalf.
What's so special here is that you're harnessing the investing power of professional portfolio managers (all of whom came up through the ranks of The Motley Fool, LLC) to fuel your Personalized Portfolio, and you don't even have to lift a finger.
You can see a more detailed explanation of our various model portfolios that could make up your Foolish Personalized Portfolio.
You will open your Interactive Brokers account after you create your profile and accept your allocation at foolwealth.com.
We recommend calling our financial planning team at 844-408-4390 (9-5 ET, Mon-Fri), and they will gladly complete the account set-up on your behalf, saving you time and hassle. We recommend preparing for the call by having an account statement for any accounts you may be transferring, the name, address, and social security number of at least one IRA beneficiary (if opening an IRA account), and 20-30 minutes, to allow enough time to complete the phone-based onboarding.
Immediately after joining us as a client here in Motley Fool Wealth Management, you'll be given the opportunity to schedule a complimentary one-on-one onboarding phone session with one of our highly experienced financial planners. Our team will work together with you to get your Personalized Portfolio up and running with a minimum amount of time and effort required on your part.
Onboarding appointments last 45 minutes, but we find that most people are able to open an account in 20-30 minutes.
Once your account is open, there may be additional time required to initiate transfers from your existing financial institutions in order to fund your account. Timing for transfers varies by the initiating institution, type of account, and the types of holdings within the account.
Both individual and joint taxable brokerage accounts, Traditional IRAs, Roth IRAs, SEP IRAs, LLCs, LPs, UGMAs, UTMAs and irrevocable and revocable trusts are currently supported by Motley Fool Wealth Management in our Personalized Portfolio program. However, if you plan on opening an LLC, LP, UGMA, UTMA or irrevocable trust, please contact us at 844-408-4391 so we can assist you with the intricacies of setting up these accounts.
Foolish Personalized Portfolios cannot support 401(k)'s, 403(b)'s, 529s, or profit sharing plans at this time. However, 401(k)'s or 403(b)'s from former employers typically allow you to roll those funds into a Traditional IRA without tax consequences, which we can then of course manage for you. We recommend that you consult with your tax advisor prior to attempting to roll these over.
Please note, if you open an IRA Personalized Portfolio, you will not be able to incorporate the Pro model strategy in that account, since Pro requires the ability to use shorting and options trades, which is not available in IRAs.
Any positions that you transfer into your Personalized Portfolio will be sold if they are not currently held in the strategies included in the allocation you approved. Then those funds will be invested in securities held in the strategies that make up your Personalized Portfolio. These sales may be taxable events, so please consult a tax advisor for any advice or questions you have about this.
This process is very quick, usually occurring as close to instantly as exists in the financial world. After they are sold, the cash is reallocated to match the percentage allocation of each individual stock position in the strategies you approved during the Personalized Portfolio sign up process.
If there are positions you wish to keep because of capital gains exposure, or for tax, sentimental, or any other purposes, DO NOT transfer those positions into your Personalized Portfolio.
If you transfer a holding that is already included in your Personalized Portfolio, we won't sell and then re-purchase that security - your position will be re-sized to match the allocation dictated by the investing strategy you accepted. Again, this re-sizing may result in taxable events.
A quick example: If the Supernova strategy makes up a portion of your Personalized Portfolio, and you own a different percentage of a particular stock that the Supernova model includes (say, Starbucks), Motley Fool Wealth Management will resize your allocation to fit the model. So if you have 10% of your portfolio in Starbucks, but the Supernova model only recommends 3%, we'll sell some of your shares to fit that percentage.
Yes, you are allowed to restrict trading in specific securities that you do not wish to own or trade.
Please be aware that if you block a security that is included in the strategy recommended to you, this can affect Motley Fool Wealth Management's ability to achieve your desired investing outcome. If a significant portion of your account is restricted, we may cease managing it until you remove the restrictions on those securities.
If you place a new restriction on a stock currently held in your account, we will neither buy more nor sell it, even if the portfolio managers sell it from the strategy.
If you transfer stocks into your Personalized Portfolio that are not included in your allocation, those stocks will be sold, and you will owe any capital gains taxes that are generated from those sales, unless your Personalized Portfolio is held in a tax-deferred account (such as an IRA).
Personalized Portfolios are held in brokerage accounts in which stocks are bought and sold, and, as in other brokerage accounts, you will owe taxes on the gains realized in any taxable Personalized Portfolio account. With a Personalized Portfolio, you own each and every holding - and they'll show up directly in your Interactive Brokers account. You only pay taxes on your own holdings, as opposed to (if you owned shares of a mutual fund) having to pay taxes when that mutual fund's capital gains are distributed among all of its investors.
If you are further concerned about the tax implications that are specific to your personal situation, we recommend consulting with a tax advisor.
There are several components of “tax efficiency,” so let’s address them one by one.
Tax loss harvesting: Tax loss harvesting typically consists of selling investment positions that have a loss, usually at the end of the year, in order to offset investment gains that have been realized throughout the year. The tax code restricts the time that someone can sell a position at a loss, and buy it back again. In many cases, this would leave a portion of your account uninvested for a period of time since MFWM portfolios consist of individual stocks that cannot be easily interchanged. For this and other reasons, MFWM does not implement tax loss harvesting on your behalf.
Municipal bond income: Municipal bond income can reduce your tax liability since federal income tax excludes municipal bond interest from your income. Municipal bond interest also receives this treatment in certain states. Because of this tax treatment, the yield on municipal investments is generally lower than the yield on other fixed income investments. The benefit of municipal bonds is highly dependent upon your other income and tax rates. While it is difficult to know whether municipal bonds would benefit your specific situation, we generally find that the lower yield of municipal investments does not make up for the potential tax benefits. MFWM’s fixed income strategy does not include municipal bonds, however, our index-based portfolios include an allocation to municipal bonds in taxable accounts.
Tax location strategy: Tax location simply refers to the placement of different asset types in different accounts based on tax treatment. If we find a way to automate this as part of the Personalized Portfolio program, you will be the first to know. Currently, we offer tax location as part of our personalized financial planning services, which you may purchase by calling a planner at 844-408-4391.
Interactive Brokers has an "Abandonment" Period of 45 days (90 for IRAs). If an account remains empty and unfunded for 45 days (90 for IRA) it will enter an abandonment period, and IB will automatically close the account. You may reopen and fund an abandoned account up to one year after they’re closed. That process usually takes about 2-3 days.
Yes. As part of the ACAT funding process, you will be able to choose full or partial transfer of your positions or funds. Please contact Interactive Brokers by calling 844-408-4390 selecting option 2 if you have questions specific about transfer of positions or funds.
Yes! Interactive Brokers currently pays a very competitive interest rate on cash balances in excess of $10,000. Interest accrues and is payable on a daily basis, and Interactive Brokers posts actual interest monthly on the 3rd business day of the following month. For the most up to date information about IB’s interest rates, please click here.
The Secure Login Device provides an extra layer of security to your Interactive Brokers account through the use of a free physical security device, a credit card-type of device that provides randomly generated security codes used for two-factor authentication.
For clients who want an alternative to the security device, you can now use the IB Key app. It has all the benefits of added security without the inconvenience of a separate device. You can download the IB Key app to your iPhone or Android by selecting IB Key from the app store. To learn more about using the app, click here.
Although it requires an extra step when logging into your account, using two-factor authentication along with your username and password goes a long way toward protecting your account. When you open your account, you will receive a temporary, printable page of codes for this purpose. After your account has been approved, Interactive Brokers will mail you the permanent device, or you can download the app.
Motley Fool Wealth Management will make every effort to begin trading your account as soon as possible. However, unless we are instructed otherwise, we generally refrain from trading securities in your account until you transfer or deposit into your account the full amount that you initially indicated you would contribute to your Personalized Portfolio when you filled out your profile. If you transfer in substantially more than the anticipated balance, there may be a hold placed on your account to confirm you meant to transfer those funds in, or there may be additional strategies available at a higher funding level. Usually, your account will be trading within three business days of being fully funded.
Interactive Brokers does require a residential U.S. address in order to start your application and open an account. You will be able to designate separate residential and mailing addresses on your Interactive Brokers account, but you cannot use your P.O. Box as your residential address.
Motley Fool Wealth Management has enlisted a team of top-notch, experienced, and Foolishly trained investors - most of whom you've likely grown to know if you're a long-time Motley Fool member.
They'll be using their decades of combined investing expertise to manage the various model portfolios that will make up your Personalized Portfolio. These are Fools you already know and trust, researching stocks and making trading decisions on your behalf for each of the model portfolios that will make up your Personalized Portfolio.
Each Strategy has set Portfolio Managers who determine what stocks/positions are included in that strategy as well as the weightings of those positions. These are their HIGHEST conviction ideas in their given strategy, and they are listening to company conference calls, reading quarterly reports and staying on top of new developments within the business's day in and day out. When the rationale for buying a company no longer exists, the portfolio manager has full discretion to sell that position and look for an alternative (if they do not already have one in mind from their “watch list”) that presents a better opportunity to appreciate in value.
So, while the process is entirely online, the brainpower behind the process is 100% human.
Motley Fool Wealth Management will invest in individual stocks when completely invested in one of our Signature Strategies (i.e. Dividend, Everlasting, MDP, Supernova, or Pro). Some of our blended portfolios include ETFs, which are utilized inside of our fixed income strategy (using a laddered corporate bond strategy) and our international strategy (to get exposure to certain countries). Additionally, our index-based portfolios use ETFs to ensure broad exposure to multiple asset classes, which provides diversification within each strategy and for the overall portfolio.
Motley Fool Wealth Management will diversify your blended portfolio to align with your risk tolerance, and rebalance when needed to reflect changes in your personal situation. However, we still recommend that any money that will be needed in the next three to five years be positioned in cash, CDs, or alternative safe and liquid investments, and should not be transferred into your Personalized Portfolio.
Although it will depend a great deal on the allocation strategy you choose, you may see a larger number of positions in your portfolio than you would expect. That's because each of our strategies is designed and run as an individual "sleeve" of a portfolio. As a result, each strategy (e.g., Dividend, Small/Mid-Cap, Fixed Income, etc.) is managed as its own unique component. Our portfolio managers aim to diversify the holdings in each separate strategy as completely as their investment approach will allow. When one or more of these sleeves are combined in a blended Personalized Portfolio, the number of overall holdings will, of necessity, increase to allow more complete global market exposure.
The idea that an investor can capture all the benefits of diversification with just a small handful of stocks is a common one and has had numerous proponents over the years (e.g., Ben Graham in The Intelligent Investor; Burton Malkiel in A Random Walk Down Wall Street, etc.). However, most academic studies have focused on volatility, or how far the portfolio's actual returns vary from the average return as a measure of risk. The greater the portfolio volatility, the higher the risk.
However, Motley Fool Wealth Management believes volatility is an incomplete measure of portfolio risk, since it is possible to have a portfolio with a low volatility that still produces sub-par returns or fails to meet your investment goals. Newer studies ("Equity Portfolio Diversification: How Many Stocks are Enough? Evidence from Five Developed Markets," by Alexeev and Tapon, November 2014) indicate that the ideal number of stocks needed to reduce the vast majority of diversifiable risk is upwards of 50, and perhaps even higher during times of market distress. There is still healthy debate surrounding this subject, but evidence from more recent market environments seems to point toward a larger number of holdings as optimal for diversification purposes.
So while we can create a fairly well-diversified stand-alone Personalized Portfolio for you (e.g., Dividend, Everlasting, MDP, Supernova, or Pro), to reap the full benefits of a complete portfolio that includes exposure to all of the major asset classes (large-cap, small/mid-cap, international, fixed income), we recommend incorporating a blended Personalized Portfolio into your financial plan. However, if you prefer to make the asset allocation decision on your own, one of our signature large-cap strategies can be an important part of your overall asset mix.
Yes, Motley Fool Wealth Management will sell a portion of each position in your account to generate the amount of cash you request. If you need to request a withdrawal, please call our team at 877-629-8542, and we’d be happy to help you arrange that.
You will need to log in to your account at Interactive Brokers and may make additions to your accounts following these instructions. You can make withdrawals from your account following these instructions.
Please note that if you request a withdrawal in excess of the current cash balance available in your account, we will make the trades necessary to raise the cash, but must allow time for settlement before distributing the funds. For certain account types, that may take up to three days. If you have questions about a specific withdrawal request, please contact our team at 844-408-4390.
Motley Fool Wealth Management does a check on all Personalized Portfolio accounts for excess cash contributions regularly. All deposits greater than $200 qualify to be invested or “swept” at Interactive Brokers. If your cash lands in between these review times, your cash may sit idle for a short time – usually no longer than two weeks. However, each of our strategies does contain a cash allocation that the portfolio manager chooses, and they can utilize that cash when an attractive opportunity presents itself.
One of the many benefits of having a Foolish Personalized Portfolio with Motley Fool Wealth Management is that there is no charge from Interactive Brokers to add or remove money from your account (although, if positions need to be bought or sold, typical trading fees would be applied). You should of course check with your originating bank or brokerage to see if they charge any transfer fees.
Performance is most easily viewed by logging into your Interactive Brokers account directly via the Interactive Brokers website, which you can access by clicking here.
Once logged-in to your account, you will need to activate IB’s “PortfolioAnalyst” tool. The first time you open PortfolioAnalyst, you will be prompted to activate it. Once activation has been completed, you can log in to PortfolioAnalyst to run reports, add external accounts, and view account performance.
To activate PortfolioAnalyst:
1. From the Account Management Login screen, below your username and password, click on the drop down menu next to “Go To” and choose PortfolioAnalyst.
2. The Activation screen will open, where you can click “Activate PortfolioAnalyst.”
A message that verifies your activation request will appear on the screen. Activation usually takes up to one business day. When activation has been completed, you can log in to PortfolioAnalyst and start using it.
You can also run preconfigured reports including “Month to Date”, “Year to Date” or “Since Inception” snapshot or detailed reports. To access the full user guide explaining how to configure automated reports using PortfolioAnalyst, please click here.
If you have any trouble following those steps, or any questions about the PortfolioAnalyst, you can reach our dedicated Motley Fool Wealth Management support team at 844-408-4390.
This is a program offered by Motley Fool Wealth Management's custodian Interactive Brokers.
This shows up on your statement as Securities Lent or Securities Lending Program.
On your behalf, Interactive Brokers lends out securities you own to other investors looking to short them. The investor doing the shorting pays interest for the securities he or she borrows. Our arrangement with Interactive Brokers means you receive 65% of the proceeds of those interest payments and Interactive Brokers receives the remaining 35%. For context, nearly every other broker keeps 100% of these proceeds themselves. The interest rates you receive for each security lent are dictated by supply and demand in the market, and thus vary for each security and each day.
Because it can add to the returns of your Personalized Portfolio, Motley Fool Wealth Management makes the Stock Yield Enhancement Program available to all clients.
You have to "Opt In" to this feature during the application process.
Those that do are agreeing to lend out their securities to short sellers in the market to collect a small amount of extra income.
There are pros and cons to this strategy, so please familiarize yourself with the program intricacies. If you'd like to talk to a member of our team about whether it is right for you, don't hesitate to call us at 877-629-8542.
Motley Fool Wealth Management can make no guarantees that we will not trade in your account after funding occurs. If you would like to stop trading at any time, please call our team at 877-629-8542 or submit an email request to [email protected], including your Interactive Brokers account number, and ask us not to trade in your account until further notice.
If you decide this program isn't right for you and you no longer want Motley Fool Wealth Management to manage your money for you, simply contact the Wealth Management team any time at 877-629-8542 or [email protected].
Ending our management of your account is called detachment, and currently Interactive Brokers processes these requests once per week, on Fridays. Please note that it may take up to 10 days for your account to be disassociated from Motley Fool Wealth Management, and during this interval, Motley Fool Wealth Management may make trades in your account. Once your account has been detached, you will be given access to trade in that account.
Detachment does not affect the holdings in your account - the allocations will stay the same as they were, and all of your current positions will remain in your brokerage account at Interactive Brokers. We will simply disconnect our stewardship of the account.
There are no exit fees whatsoever - Motley Fool Wealth Management would simply stop trading on your behalf, and you would take full control of your brokerage account. If you paid a flat-fee for Motley Fool Wealth Management's services, or have access to Motley Fool Wealth Management through your Motley Fool One subscription, and you cancel that subscription prior to the expiration of your membership for any reason, your accounts will be detached, and you will receive a pro rata refund of your membership fee.
After logging in to your account directly at Interactive Brokers website, follow the below steps.
These steps will allow you to download statements in a variety of formats. Most important to you Quicken folks is the QFX import type, as shown in the screen capture below. Interactive Brokers does not support real time syncing, but you can import these QFX files into your Quicken tool.