You can open a ManagedChoice (Institutional Intelligent Portfolio®) account with a minimum of $5,000.

• Brokerage: Individual, Joint Tenant with Rights of Survivorship, Tenants in Common, Community Property, Custodial

• Revocable Living Trust: Single Trustee, Two Trustees

• Retirement: Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, SIMPLE IRA

Depending on how you fund your account, the process typically takes between 2-4 days. Accounts funded with cash deposits are generally invested the following business day.

Of course! After considering your options you can choose a Rollover or Roth IRA account, these rollovers are as simple as contacting your former employer plan administrator or custodian and telling them you want a direct rollover of your plan assets.

Next Steps:

• Create an online account with us (it takes 5 minutes!).

• Complete any forms required by your plan administrator or custodian.

• Decide how you want your retirement assets distributed.

• Ask your plan administrator or custodian to deposit your funds directly into your IRA.

Tips:

• To prevent funds from being taxed, the check should be made payable to "Charles Schwab & Co., Inc., FBO (Your Name)."

• Your Schwab Intelligent Portfolios IRA account number is required, so give this to your employer and ask them to include it on the check.

• Instruct your plan administrator or custodian to mail the check to: Charles Schwab & Co., Inc., P.O. Box 628291, Orlando, FL 32862-8291.

Yes, you can withdraw cash from your account at any time by logging in and selecting "Add/Withdraw Money". If the requested amount is less than the cash allocation in your portfolio, you can transfer it to another Schwab account immediately or to a linked external account overnight. If the withdrawal request exceeds your portfolio's cash allocation, we will sell ETFs to generate the requested amount of cash. The processing and settlement takes between 4-6 business days. Please note that taxes may be due when money is withdrawn, and that early withdrawals (prior to reaching age 59 ½) from an IRA may be subject to a 10% penalty.  

After your withdrawal, your portfolio will be rebalanced to its target asset allocation if it has drifted significantly from the portfolio’s original target. Your withdrawal may also cause your account to become ineligible for tax-loss harvesting if you have enrolled in the service and your account falls below the $50,000 minimum.

To add or update your IRA beneficiaries online, log in at intelligent.schwab.com and select your IRA account:
 

1. Click on the Profile tab.

2. Click Update Beneficiaries.

3. Click the Add or Modify button.

Note: You will need the name and date of birth (if the beneficiary is a person) to add or modify your beneficiaries.

An ETF, or exchange-traded fund, is a basket of securities that gives you exposure to a particular asset class, industry, commodity, or region. They offer similar diversification as an index mutual fund but unlike index mutual funds, ETFs can be traded at any time during the day. ETFs may also offer exposure to a greater breadth of markets.

All chosen investments are filtered through a carefully selected set of stringent criteria with the goal of delivering diverse and cost efficent ETFs for the ManagedChoice (Institutional Intelligent Portfolios®).
 
These selection criteria help pare down more than 1,800 ETFs to the funds that could potentially be part of your ManagedChoice (Institutional Intelligent Portfolios®) account.

An automated system monitors your portfolio closely—this includes:

• Portfolios managed by Sentinel’s investment committee.

• Rebalancing as needed: Every portfolio has a target asset allocation—a combination of stocks, bonds, commodities and cash determined by the investor's stated goals, risk tolerance and time horizon. Over time, however, contributions/withdrawals, gains, and losses cause your portfolio to stray from the original target and become unbalanced. The Institutional Intelligent Portfolios® algorithm checks to determine if asset class percentages remain within a prescribed drift tolerance. If an asset class has drifted above its target allocation by a sufficient amount, the asset class is sold to bring it back to its target allocation. The cash received from the sale is allocated to the asset classes that are underweight. If an asset class has drifted below its target allocation by a sufficient amount, additional shares of the asset class are bought to bring it up to its target allocation. To make this purchase, overweight asset classes are sold down until there is enough cash to make the purchase.

• Professional oversight: Periodic evaluations are performed to help ensure that your asset allocation represents the right mix of risk and return. The ETFs included in ManagedChoice (Institutional Intelligent Portfolios®) are also evaluated to ensure that they continue to meet the stringent selection criteria.

1099s for ManagedChoice (Institutional Intelligent Portfolios®) accounts will be available online beginning in February. To access them, log in and select "Statements and Documents" from the menu, then "Tax Documents". If you would like a paper copy, you can print from there. 1099s are not mailed.