LPL Financial Conversion Update

We're committed to a smooth transition.

Here's what to expect:

What this means for you:

FAQs

General Questions

• Q: What is LPL?

  A: LPL is the nation’s largest independent broker-dealer*. LPL offers access to an impressive range of products, services, and resources to help us provide you with personalized service. By investing heavily in innovative technology and automation, LPL makes it easy for your advisor to spend more time helping you pursue your financial goals.

• Q: Does my relationship with you change?

  A: You will continue to work with your advisor as you always have. Your relationship will not change. We will continue to be your financial advisor and primary contact. The broker/dealer is changing to LPL Financial.

• Q: What will this change mean for me? What’s the benefit of this partnership to me?

  A: As the nation’s largest independent broker-dealer, LPL offers innovative resources that enable us to continue providing you with personalized service, such as:

  • Independent research, to continue to provide you with personalized financial guidance.
  • Advanced technology platforms and back-office support that frees up time to give you even more personalized service.
• Q: Is my money safe?

  A: LPL provides the same regulatory and protection requirements as before with CFS. LPL is a Financial Industry Regulatory Authority (FINRA) member firm, subject to federal securities laws and the rules of industry self-regulatory organizations. LPL is a member of the Securities Investor Protection Corporation (SIPC) which provides account protection up to $500,000 per member, of which $250,000 may be claims for cash. An explanatory brochure is available at www.sipc.org. LPL purchases $1 billion of excess SIPC insurance that provides additional protection for LPL accounts to cover aggregate net equity (of all member accounts), subject to conditions and limitations. The account protection applies when an SIPC member firm fails financially and is unable to meet obligations to securities members, but it does not protect against losses from the rise and fall in the market value of investments.

Account Questions

• Q: What date will the change take place?

  A: CUSO Financial Services will move to LPL officially on or about May 17, 2025.

• Q: Will I have to sign a new agreement with LPL?

  A: Depending on the account type, you may be required to sign a new agreement with LPL. Once the accounts convert, you will be notified if you need to sign a new agreement. The process is relatively easy and can be done via electronic signature or by hard copy if desired.

• Q: Will my fees change once I move to LPL?

  A: For existing advisory accounts moving to LPL, the overall advisory fee to the member will be the same as the current advisory fee. The Brokerage Fee Schedule will be provided in a future mailing you will receive and will apply to all brokerage accounts.

• Q: Is there anything I need to do regarding my account?

  A: You may wish to consider receiving your statements electronically, if you do not already, or you may prefer to continue receiving your statements on paper in the mail. You will be able to make this choice upon the conversion date.

• Q: How do I access my accounts?

  A: You will access your account information through Account View and we'll share more information with you closer to the conversion date.

• Q: If my accounts move, will there be tax implications?

  A: There should be no tax implications with the movement of accounts. Your accounts will be transferred to comparable products at LPL. However, we would recommend you consult your tax professional for further information.

• Q: If my accounts move, will my investments change?

  A: Your fundamental investment strategy and allocations will remain the same for the most part. In some cases, LPL may have advanced investment options that we can discuss after your accounts move.

• Q: When will my accounts transfer to LPL?

  A: LPL will receive assets on May 17, 2025. Please note you will be able to continue to conduct all of your business with us per usual during this entire timeframe.

• Q: Will your move to LPL cost me anything?

  A: There is no cost whatsoever to you.

• Q: What’s the impact to me? What should I expect?

  A: This will not affect your relationship with us in any way. You can count on us to continue to provide the level of service you expect. Your fundamental investment strategy and allocations will remain the same for the most part. In some cases, LPL may have advanced investment options that we can discuss after your accounts move. Once LPL is the new broker/dealer, we may be reaching out to ask you to sign a new agreement with LPL. The process is relatively easy and can be done via electronic signature, or by paper if desired.

Thanks for trusting us with your financial planning needs.

*As reported by Financial Planning magazine, 1996-2023, based on total revenue.