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FAQs
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Q: What services does HFS provide?
A: Hewitt Financial Services offers retail, retirement and self-directed brokerage accounts. They are all accessible online at www.hewittfs.com.
 
Q: How is my brokerage account protected?
A: Hewitt Financial Services is a member of SIPC (Securities Investor Protection Corporation), which protects securities of its members up to $500,000, including $250,000 on claims for cash.
 
Q: How does HFS ensure the privacy and security of my account?
A:
Website Usage:

The Internet site provides private, secure communications. The confidential account information and transactions are secured (encrypted) with the latest Netscape Secure Commerce Server technology, the best in the industry. Additionally, members are required to access their account using one of the latest secure browsers such as Netscape Navigator (version 3.0 or higher) or Microsoft's Internet Explorer (version 3.0 or higher). When a member logs into his or her account, the encrypted (secure) areas can be easily identified by two characteristics. The first distinction is the location (URL). Pages using encryption will have URLs that begin with https:// (instead of http://). The second characteristic is the key icon that appears in the lower left corner of the browser. The key (or lock, for Microsoft Internet Explorer users) will appear whole rather than broken in half.

Our servers also use "cookie" technology to ensure the account's confidentiality and security, to make it easier for the users to navigate through the Internet site, and to enable them to create customized information on the Internet site based on input they decide, including model portfolios.

Personal Information:

Hewitt Financial Services collects nonpublic personal information about you from your Hewitt Financial Services transactions. You provide this information to us so that we may process your Hewitt Financial Services transactions.

Information about your Hewitt Financial Services transactions is provided to your financial organization and only to other parties to complete that transaction and to maintain your account as permitted by law. We do not sell information about the users of Hewitt Financial Services to anyone.

We restrict access to nonpublic personal information about you to those employees and agents who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards to guard your nonpublic personal information.

 
Q: Can I write checks from my HFS account?
A: Yes, Hewitt Financial Services offers ProManage which allows for unlimited checkwriting. You can write checks in any amount and earn money market fund yields until your check clears. Check writing is not permitted in Self-directed brokerage accounts.
 
Q: Can I have a debit card for my HFS account?
A: Yes, Hewitt Financial Services offers ProManage which allows you to have a MasterCard® debit card. This debitcard acts just like a check and can be used wherever MasterCard® is accepted. Debit cards are not available for Self-directed brokerage accounts.
 
Q: Can I earn interest in my HFS account?
A: Yes, all idle cash, deposits and investment earnings are swept on a daily basis into the Hewitt Money Market.

Note: Money market funds are sold by prospectus only. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

 
Q: Are there any restrictions on funds deposited into my account?
A: Hewitt Financial Services will place a seven business day hold on all funds received via check, direct deposit or ACH. There is no hold on federal fund wires received.
 
Q: Can I receive statements electronically?
A: Electronic statements are not available at this time. However, you can access your statements by logging into your HFS account and proceeding to the Statements and Reports section of the website.
 
Q: Is there a minimum deposit to open an account with HFS?
A: No, there is no minimum deposit to open an account with Hewitt Financial Services
 
Q: How do I close my account?
A: Retail - Once the account has a zero balance, please contact HFS via email or phone to close the account.

IRA’s – Please contact HFS via email or phone to close the account. All IRA accounts are assessed a termination fee of $75.00 as well as the annual maintenance fee of $40.00. This amount will be withheld from the account balance upon closing. Please note if your balance is below $115.00 you will be required deposit funds to cover the fees.

Self-directed Brokerage Account - To close a Self-directed brokerage account you must first liquidate the entire account and transfer all funds back to your core 401(k) account. Sale proceeds will not be available for transfer until the trades settle and the funds have swept to the Hewitt Money Market. All account transfers to the core 401(k) account must be initiated through Your Benefits Resources website.

Once your Self-directed brokerage account has a zero balance, please contact HFS via email or phone to close the account.

 
Q: How do I update my account inform ation?
A: You can update your address and phone number by calling an Investment Specialist or faxing a signed request to HFS at 847.554.1444.

Note: If your mailing address is Post Office Box, Hewitt Financial Services requires a physical address to be on file. Correspondence will not be sent to the physical address on file; however Patriot Act and Anti-Money Laundering Rules require HFS to store this information.

You can update your email address or password online by logging into your account and proceeding to Accounts -> Account Profile.

 
Q: How do I reset my password?
A: Please call an Investment Specialist at 1.800.890.3200 to reset your password.
 
Q: How do I link my accounts together under the same User ID or link my account to my spouse's account?
A: You can link your accounts under the same User ID by contacting an Investment Specialist at 1.800.890.3200 or by faxing a request to 847.554.1444.

If you would like to link another individual's account to your User ID a Full Trading Authorization Form is required. Please complete this form and fax it to HFS at 847.554.1444.

Note: Self-directed brokerage accounts may not be linked to other accounts or combined with assets in other brokerage accounts.

 
Q: Can I trade on margin?
A: Margin trading is available in some retail accounts. You must be approved for margin trading before you can borrow against the assets in your brokerage account. You can apply for margin by completing a Margin Agreement & Disclosure Form.

Note: Trading on margin involves risk. To determine if a margin account is right for you, please consider your investment objectives, experience, risk tolerance and financial situation. Margin is not allowed on Self-direct Brokerage and IRA accounts.

 
Q: What is the No Transaction Fee (NTF) mutual fund program and how do I obtain a list of these funds?
A: The No Transaction Fee (NTF) mutual fund program allows you to conduct transactions in a wide variety of no-load mutual funds without incurring transaction fees.

You can obtain a list of these funds by logging into your HFS account and proceeding to Research -> Mutual Fund Center -> FundScan and entering No Transaction Fee (NTF) Funds in the Load/Fee Structure field. You can also contact an Investment Specialist at 1.800.890.3200 to request a list of NTF funds.

 
Q: Why can't I sell my mutual fund today?
A: Mutual funds cannot be redeemed until settlement date plus one. No-load mutual funds usually settle one day after trade date. Loaded funds (i.e. Class A, B, or C shares) usually settle three business days after the purchase date.
 
Q: Can I setup systematic investments on mutual funds in my Self-directed brokerage account?
A: Systematic mutual fund investments are not available in Self-directed Brokerage Accounts. This feature is available for IRA's and retail brokerage accounts.
 
Q: I don't have a link to my Self-directed brokerage account on YBR, who should I contact?
A: Your Benefits Resource Team will be able to assist you with this information.
 
Q: Can I participate in an IPO within my HFS account?
A: does not participate in the underwriting of Initial Public Offerings (IPO's), and therefore cannot offer access to these investments. Once a stock has started trading in the secondary market (post IPO), the shares may be purchased through Hewitt Financial Services.
 
Q: What is a Freeride restriction?
A: A freeride occurs when a security is bought and sold without having the full amount of settled cash to cover the purchase. As per Regulation T of the Federal Reserve Board, a freeride will cause an account to be placed on a 90 day restriction, where sale proceeds may not be used until the trade settles.
 
Q: What is an unsettled trade liquidation?
A: An unsettled trade liquidation occurs when a purchase is made with uncleared or unsettled trade proceeds.
 
Q: What is buying power?
A: Buying power represents the maximum amount of stock an account holder may purchase without having to deliver additional cash or securities. This term is only used in relation to a margin account, not accounts where the full amount of the purchase must be available prior to trading.
 
Q: How do I liquidate fractional shares?
A: If you place an order to liquidate all shares of a mutual fund position any fractional shares owned will be liquidated as part of that order.

If you place an order to liquidate all shares of a stock position any fractional shares owned will automatically redeem on the trade's settlement date.

 
Q: What is the difference between a Traditional IRA and a Roth IRA?
A: The primary difference is a Traditional IRA allows for pre-tax contributions and tax deferred growth and may also allow for a tax deduction. The Roth IRA allows for after tax contributions and tax free growth. Please go to the Retirement Center for more information regarding retirement account options.
 
Q: How do I rollover a Qualified Retirement account to/from Hewitt Financial Services?
A: To HFS: To rollover a 401(k) or other qualified retirement plan to an IRA you should first establish a Rollover or Traditional IRA. Then contact the plan administrator to request a rollover check made payable to: Pershing LLC FBO your name. Please make sure they include the new HFS account number on the check.

From HFS: To process a rollover from your IRA to your company's retirement plan, please submit an IRA Distribution Form and specify a Direct Rollover to a Qualified Plan. Please request a Letter of Acceptance from your plan administrator stating the Plan is willing to accept the rollover check for deposit from your HFS IRA. Please make sure the letter is signed by the plan and is printed on company letterhead.

 
Q: What can I do with my 401k account once I have left an employer?
A: After leaving a company, a former employee should consider their options of what to do with their Qualified Retirement Accounts (i.e. 401k, pensions, etc.). In general, there are four different options:
  1. Take a distribution from the plan. Keep in mind this is a taxable event and a 10% penalty may result if the participant is under age 59½.
  2. Keep the funds in the plan. As long as your balance is over $5,000, the funds may remain in the Qualified Retirement Plan. You should access to the same investment options as before leaving the company.
  3. Rollover the funds to a new employer's Qualified Retirement Plan. You need to coordinate this with the Plan Administrators for your new and former plans.
  4. Rollover the funds to a tax differed Individual Retirement Account (IRA). Hewitt Financial Services offers Rollover IRAs. Please contact an Investment Specialist at 1.800.890.3200 or visit www.hewittfs.com for additional information.
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