December 16, 2023
These Online Services Terms & Conditions (“Terms”) govern the use of all electronic and online content, tools, products and services, including Account View (“Online Services”) made available by LPL Financial LLC (“LPL”), either on LPL websites (“Sites”) or by any other electronic devices or means, including mobile devices (“Access Devices”). As used in these Terms, “Online Services” and “Account View” shall mean those services and functionalities that LPL provides, or that our third-party vendors provide on our behalf, and that allow you (“You”) to: (i) input and access information about your LPL account through the Account View website or an Account View app; (ii) to initiate automated clearinghouse transfers into your LPL account through the Account View website or an Account View app (“AV-Initiated Transfers”); (iii) deposit checks remotely into your LPL account through the Account View website or an Account View app; (iv) aggregate information from other financial institutions; or (v) access other information or conduct other activities through the Account View website or an Account View app. Online Services offerings may vary depending on the Access Device and may be offered under different brand names. These Terms constitute a binding agreement between You and LPL. LPL makes the Online Services available solely on the terms and conditions set forth herein and on the condition that You accept and comply with these Terms. These Terms are in addition to any other agreements between You and LPL, or between You and a third party, including any other agreements or terms that govern your use of information, content, tools, products and services made available by LPL.
BY CLICKING ON THE ACCEPT BUTTON, YOU HEREBY ACCEPT THIS AGREEMENT AND AGREE THAT YOU ARE LEGALLY BOUND BY ITS TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT, LPL WILL NOT AND DOES NOT MAKE AVAILABLE THE ONLINE SERVICES TO YOU, YOU ARE NOT AUTHORIZED TO ACCESS OR USE THE ONLINE SERVICES, AND YOU SHOULD CLICK ON THE DO NOT ACCEPT BUTTON.
1. Right to Access and Use the Online Services . Subject to and conditioned upon your compliance with all the terms and conditions set forth herein, LPL hereby grants to You a limited, revocable, non-transferable right to access and use the Online Services for your personal, non-commercial use. Online Services contain features customizable by your financial professional. Some features may not be available to You depending on your specific needs. Please contact your financial professional if You are interested in learning more about additional available features. These Terms apply to use of any Online Service accessed by single sign on from another system.
2. Consent to Electronic (“e-mail”) Delivery of Account Communications . You hereby authorize LPL to deliver documents, correspondence and other communications (“Communications”) including, account statements, performance reports, regulatory and other notices in connection with your LPL account to the e-mail address specified by You.
3. Consent to Delivery of Communications by Text (SMS) or Multimedia (MMS) Messaging . You expressly agree to be contacted by LPL and its respective agents and affiliates at the number(s) that You provided during registration for all non-marketing purposes, including but not limited to Communications referenced above, by telephone calls and text messages made by or using an automatic telephone dialing system or pre-recorded voice, in conjunction with the Online Services. Communications may include text (SMS) or multimedia (MMS) messages. To stop receipt of automated Communications by SMS or MMS messages, please contact LPL or your financial professional, or reply STOP to a message received through the Online Services. You understand that texting STOP or a similar message in response to a text from the Online Services will only unsubscribe You from future texts from the Online Services. You will remain enrolled in communications from the other programs and services offered by LPL, and LPL’s agents and affiliates and/or financial professionals, and other entities to which You previously and separately provided your express consent. If You wish to unsubscribe from ALL future texts from LPL, You may, among other methods, respond STOP ALL or something similar to an Online Services text. To the extent LPL registered representatives are associated or affiliated with a third party investment adviser (i.e. Hybrid RIA), it is within that investment adviser’s sole discretion as to whether to allow its investment adviser representatives to communicate with You by SMS or MMS messages. LPL makes no representation with respect to any other investment advisers’ use of electronic tools and services or such investment advisers compliance with applicable law, including the Investment Advisers Act of 1940 and disclaims any and all liability with respect thereto. You understand that your wireless service provider’s message and data rates may apply to SMS and MMS Communications.
4. Your Obligations .
4.1 Acceptable Use . You shall use the Online Services only in accordance with these Terms, in a manner consistent with applicable laws and in accordance with the rules, policies and procedures established by LPL for use of the Online Services. You are solely responsible for compliance with all legal and regulatory requirements with respect to your use of the Online Services. By using the Online Services, You hereby represent and warrant that all information provided to LPL by You or on your behalf in connection with the Online Services, including the information provided in the process of logging in to access and use the Online Services is true, accurate and complete, and that You have the right to provide this information to LPL.
4.2 Restrictions; No Reverse Engineering; No Unauthorized Use . You shall not and shall not permit any third party to sell, rent, lease, provide service bureau or timeshare services, transfer, transmit, distribute or otherwise make the Online Services or any component thereof or any data contained therein available to third parties. You shall not, and shall not permit any third party to access or use the Online Services in whole or in part for any purpose, except as expressly provided under these Terms. Without limiting the foregoing, You shall not and shall not permit any third party to (i) attempt to decompile, decode, disassemble, or otherwise reverse engineer the Online Services; (ii) attempt to gain unauthorized access to the Online Services or its related systems or networks; (iii) attempt to interfere with or disrupt the operation of the Online Services or its related systems or networks, including through, but not limited to, the use of methods such as viruses, Trojan horses, worms, time bombs, denial of service attacks, flooding or spamming; (iv) copy, in whole or in part, the Online Services or any component thereof; (v) modify, enhance, create derivative works of, combine with other programs, or otherwise change the Online Services; (vi) screen scrape, screen surf or employ any other data scraping method; (vii) provide access to the Online Services by framing the Online Services in a domain not supported by LPL; or (viii) develop or have developed any product or service using or based on any component of the Online Services. If another person uses the Online Services with your mobile device, You will be responsible for their actions in your LPL account as well as actions of anyone else they allow to use your mobile device. This will be true even if You do not want or agree to their use.
Further, You shall not, and shall not permit any third party to use any communication feature of any of the Online Services: (1) for any purpose that is unlawful, fraudulent, tortious, abusive, intrusive on another's privacy, harassing, libelous, defamatory, embarrassing, obscene, pornographic, threatening or hateful, or promotes, facilitates, or encourages the same; (2) to transmit any material that is facilitates, or encourages libelous, defamatory, discriminatory, or otherwise malicious or harmful speech or acts to any person or entity, including but not limited to hate speech, and any other material that degrades, intimidates, incites violence against, or encourages prejudicial action against anyone based on age, gender, race, ethnicity, national origin, religion, sexual orientation, disability, geographic location or other protected category; (3) in connection with unsolicited or harassing messages (commercial or otherwise), including unsolicited or unwanted phone calls, SMS or text messages, voice mail, or faxes; (4) in any manner that materially violates industry standards, policies and applicable guidelines published by (a) the CTIA (Cellular Telecommunications Industry Association), (b) the Mobile Marketing Association, or (c) any other generally recognized industry associations; (5) to engage in any unsolicited advertising, marketing or other activities prohibited by applicable law or regulation covering anti-spam, data protection, or privacy legislation in any applicable jurisdiction, including, but not limited to anti-spam laws and regulations such as the CAN SPAM Act of 2003, the Telephone Consumer Protection Act, and the Do-Not-Call Implementation Act; (6) to harvest or otherwise collect information about individuals, including any personal information such as email addresses or phone numbers, without their explicit consent or under false pretenses; (7) to transmit any material that infringes the intellectual property rights or other rights of third parties; or (8) to receive, send or otherwise process Protected Health Information as defined by the Health Insurance Portability and Accountability Act of 1996 as amended.
4.3 Customer Data . As between You and LPL, You are solely responsible for the accuracy, completeness, quality, validity, authorization for use and integrity of any and all data and information, that is provided to LPL under these Terms or input into the Online Services by You or on your behalf (collectively, “Customer Data”) regardless of form and format, and whether or not Customer Data is used in conjunction with the Online Services. As between You and LPL, subject to applicable law, LPL has and shall retain sole and exclusive title and ownership of all Customer Data. You hereby represent and warrant that You have the right and authority necessary to provide or have provided the Customer Data to LPL as provided hereunder, that You will disclose or have disclosed to LPL on your behalf only such Customer Data as You are authorized to disclose or have disclosed to LPL, and that LPL’s use of such Customer Data in accordance with these Terms will not violate applicable law or the rights of any third party. You are solely responsible for maintaining an appropriate backup of all Customer Data. LPL is not responsible for loss of any Customer Data in transmission or improper transmission of any Customer Data by You or any third party on your behalf. LPL’s collection, use and sharing of Customer Data is governed by LPLs Online Privacy Policy and other applicable privacy notices from LPL.
LPL has the right to (i) remove any Customer Data for any or no reason in LPL’s sole discretion; (ii) take any action with respect to any Customer Data that LPL deems necessary or appropriate in LPL’s sole discretion, including if LPL believes that such Customer Data violates these Terms, infringes any intellectual property right or other right of any person or entity, threatens the personal safety of users of the Online Services or the public or could create liability for LPL; and (iii) take appropriate legal action, including without limitation, referral to law enforcement, for any illegal or unauthorized use of the Online Services.
4.4 Security . Access to the Online Services is enabled only by username and password. You shall maintain your username and password in strict confidence. In no event shall You share your username or password with any third party or allow another person to access the Online Services using your username and password. You shall immediately notify LPL if You have any reason to believe that your username or password has been lost or compromised or misused in any way and You shall inform LPL of the steps being taken to terminate such unauthorized use or misuse. You are fully and solely responsible for any and all use or misuse of the Online Services using the username and password assigned to you. LPL reserves the right to revoke or deactivate your username and password and your access to the Online Services at any time and for any reason, with or without notice to You, including if You violate these Terms. You assume all risks associated with directing LPL to send messages to Access Devices that may not utilize personalized security codes or encryption.
To enable biometric authentication for sign in, You are required to save your LPL username on your device and activate the sign in method through the Online Services. LPL does not control the functionality of fingerprint, Touch ID or Face ID and does not have access to your fingerprint(s), facial recognition information, or any other biometric authentication information used in connection with such authentication functions. You understand and agree that any fingerprint, facial, or other biometric recognition information stored on your device can be used to access the Online Services. For more information on how biometric functionality works on your device, please refer to your device manufacturer’s support resources. There may be circumstances where biometric authentication will not function as expected and the sign in process will require your password.
4.5 Review of Your Use of Online Services . You acknowledge that LPL may have certain supervisory and regulatory responsibilities with regards to the activities of the financial professionals to which LPL provides Online Services as well as to such financial professionals end customers. You hereby confirm and acknowledge that LPL may, in LPLs sole discretion and to the extent permitted or required by applicable law: (a) access the Online Services and the Customer Data stored as a part of, or in connection with, the Online Services; and (b) retain backups of any Customer Data stored as a part of, or in connection with, the Online Services.
4.6 Additional Obligations . You are responsible for procuring, installing, and maintaining all computer hardware, software, communications interfaces and connectivity to the Online Services, applications, communications and office equipment necessary to access and use the Online Services, and for paying all associated charges.
4.7 Additional Terms . Your use of certain of the Online Services may be subject to additional or separate terms imposed by LPL or third parties (“Additional Terms”). When such Additional Terms are applicable to your use of an Online Service, LPL will give You an opportunity either to agree to such Additional Terms or elect not to use such Online Service. To the extent applicable, such terms are hereby incorporated into these Terms, to the extent such terms do not conflict with these Terms. In the event of a conflict between Additional Terms and these Terms, the Additional Terms will prevail with respect to such specific Online Service. Additional Terms applicable to Account View are available and are hereby incorporated into these Terms.
4.8 Acknowledgment; Injunctive Relief . You hereby acknowledge that the provisions contained in this Section 4 are reasonable and necessary to protect LPLs legitimate interests and You hereby agree that the remedies at law for violation of this Section 4 may be inadequate, that such violation may cause irreparable injury to LPL within a short period of time, and that LPL shall be entitled to preliminary injunctive relief and other injunctive relief against such violation without the necessity of proving actual damages.
5. Termination; Effect of Termination . LPL may immediately suspend or terminate its provision of the Online Services without notice or liability in whole or in part for any reason, including if You violate any of these Terms. Upon such suspension or termination, your access to and use of the Online Services shall terminate. Notwithstanding termination of the Online Services, the following provisions shall survive and continue to apply: Section 4.2, Section 4.3, Section 4.8, this Section 5, Section 7, Section 9, Section 10, Section 11, Section 12 and any other Section that by its terms are meant to apply.
6. Changes.
6.1 Changes to the Agreement . LPL may, from time to time, change these Terms. LPL will notify You of changes to the Terms when they are updated. Your continued use of the Online Services following the effective date of revised Terms constitutes your acceptance of the revised Terms. If You do not agree to the revised Terms, do not continue to use the Online Services. The most current version of these Terms can be accessed at any time by selecting the Terms of Use link found in Account View. For the avoidance of doubt, previous versions of these Terms were titled “Account View Terms & Conditions” and have been replaced by subsequent versions of these Terms.
6.2 Changes to the Online Services . LPL reserves the right to alter, add or delete any part of the Online Services in whole or in part at any time without notice.
7. Reservation of Rights . As between You and LPL, title to, and ownership of the Online Services including all patents, copyrights and all other intellectual property rights applicable thereto and any derivative works, translations, customized versions, or other versions thereof, is and shall at all times remain solely and exclusively with LPL and its licensors, notwithstanding that You may contribute to the cost or design of such updates, translations, customized versions or other versions or derivative works. All rights not expressly granted to You herein are expressly reserved by LPL. Nothing in these Terms will be deemed to grant, by implication, estoppel, or otherwise, a license under any of LPLs or its licensors existing or future rights in or to the Online Services. LPL trade names, trademarks, service marks, titles, and logos, and any goodwill appurtenant thereto, shall be owned exclusively by LPL and shall inure solely to the benefit of LPL. You will not, and will not permit any third party, to use the name, logo, trademark, trade name, or other marks of LPL or any of its affiliates directly or indirectly in any manner, including but not limited to any website, advertising or list of representative clients, without LPLs prior written consent which consent may be withheld at LPLs discretion.
8. Confidentiality . In using the Online Services, You will have access to confidential information of LPL and its licensors and suppliers that may include, but is not limited to, software, technology, logic, techniques, formats, tools, designs, concepts, methods, processes, ideas, technical materials and information, and related documentation (“Confidential Information”). You hereby agree that: (i) all Confidential Information shall remain the property of LPL and its licensors and suppliers; (ii) You will use Confidential Information solely as reasonably necessary to perform your obligations under these Terms and to use the Online Services as permitted hereunder; (iii) You will not otherwise use and/or disclose Confidential Information to any third party, and (iv) You will maintain and safeguard vigilantly the privacy and security of all Confidential Information, including in accordance with security measures and controls that may be required from time to time by LPL and its licensors and suppliers. Without limiting the foregoing, You hereby agree to undertake all necessary measures to ensure the privacy and security of all Confidential Information including without limitation: (a) not to access, use or disclose any Confidential Information that You have no legitimate authorization to access, use or disclose; (b) not to access the Online Services or any Confidential Information for any other individual or any third party; and (c) to restrict physical and system access to the equipment which contains Confidential Information or which gives access to the Online Services.
9. Warranties; Disclaimers.
9.1 Your Warranties . You hereby represent and warrant that on a continuing basis at all times during your use of the Online Services: (i) You will comply with all applicable laws with respect to your access and use of the Online Services; and (ii) You have and will have the right and authority necessary to provide the Customer Data to LPL and grant the rights to LPL to use the Customer Data as set forth in these Terms.
9.2 Disclaimer of Warranties . NEITHER LPL, ITS AFFILIATES, PARTNERS, SUPPLIERS, OFFICERS, DIRECTORS, EMPLOYEES AND SUCCESSORS AND ASSIGNS, NOR ITS THIRD-PARTY DATA OR SERVICE PROVIDERS, LICENSORS, AND THEIR RESPECTIVE PARTNERS, SUPPLIERS AND AFFILIATES MAKE ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE PERFORMANCE, SECURITY, OR RELIABILITY OF THE ONLINE SERVICES OR ANY DATA OR INFORMATION OBTAINED FROM THE ONLINE SERVICES OR WITH RESPECT TO YOUR USE OF THE ONLINE SERVICES OR SUCH DATA OR INFORMATION. YOU EXPRESSLY UNDERSTAND AND AGREE THAT USE OF THE ONLINE SERVICES OR ANY DATA OR INFORMATION OBTAINED FROM THE ONLINE SERVICES IS AT YOUR SOLE RISK. THE ONLINE SERVICES AND ANY DATA AND INFORMATION OBTAINED FROM THE ONLINE SERVICES ARE PROVIDED ON AN AS IS AND AS AVAILABLE BASIS AND LPL DISCLAIMS ALL WARRANTIES OF ANY KIND AS TO THE ONLINE SERVICES AND SUCH DATA AND INFORMATION WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. FURTHER, LPL DOES NOT WARRANT THAT THE ONLINE SERVICES WILL BE ERROR-FREE OR BE PROVIDED (OR BE AVAILABLE) WITHOUT INTERRUPTION OR MEET YOUR BUSINESS OR OPERATIONAL PURPOSES. YOU ARE SOLELY RESPONSIBLE FOR THE USE OF THE ONLINE SERVICES AND ANY OUTCOME OF SUCH USE AND FOR ANY ACTS OR OMISSIONS ASSOCIATED WITH DATA ENTRIES OR SUBMISSIONS MADE BY YOU. FURTHER, YOU ARE SOLELY RESPONSIBLE FOR PROTECTING THE SECURITY OF YOUR DATA AND PROGRAMS ON YOUR SYSTEMS AND FOR PERFORMING REGULAR INDUSTRY STANDARD BACKUPS OF YOUR DATA AND PROGRAMS.
9.3 Blocked Locations . The Online Services are intended for use, and may only be available in the United States and only in those specific states where LPL is registered notwithstanding that the Online Services may be accessible from anywhere in the world. However, LPL makes no representations that the Online Services will be available from any other locations other than those specified above. You acknowledge that it is unlawful to cause LPL to provide services or facilitate transactions for You while You are located in a country or territory where LPL is not registered or where applicable U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury ("OFAC") prohibit U.S. persons from providing products or services (each, a "Blocked Location"). You agree not to use the Online Services to request or obtain any product or service or to order or conduct any transaction at any time when You are located in a Blocked Location. Without limiting any other right of LPL under these Terms, You agree that: (i) LPL shall have the right to reject, refuse, cancel, unwind, delay or postpone the provision of any product or service or transaction requested, obtained, ordered or conducted from a Blocked Location; and (ii) LPL shall not be responsible for any resulting losses, costs, delays or other damages. You acknowledge that, depending on the circumstances, LPL may be required to block property in a transaction involving a Blocked Location and/or report to the U.S. government any transaction rejected or any property blocked when the rejection or blocking relates to a Blocked Location. You agree that LPL shall have the right to block property or to report the blocking of property or rejection of transactions to the U.S. government if it deems in its discretion that it is required to do so.
9.4 No Guarantee of Funds . LPL is not FDIC insured. No bank, state, or Federal guarantee or insurance of funds is provided. LPL does not guarantee any specific future financial results or provide any warranty against financial loss.
9.5 Forward-Looking Statements . The Online Services may contain some forward-looking statements. Certain words, including, without limitation, the words "believe," "anticipate," "expect," "will," or similar words can be used to identify these statements. Users of the Online Services should beware that LPL is not obliged to update or revise these forward-looking statements and, thus, should not rely on the accuracy or validity of these statements. Such information should not be relied upon for the purpose of making any investment decision without the direct guidance of a properly credentialed financial professional.
9.6 Third Party Data, Information, Services, Products, and Technology . The Online Services may allow access to data, information, services, products, and/or technology disseminated by third parties and You hereby acknowledge that LPL and its suppliers and licensors disclaim responsibility for the use, content, accuracy, timeliness, completeness or availability of such third party data, information, services, products, and/or technology and make no warranty concerning such data, information, services, products and/or technology. YOU USE SUCH THIRD PARTY DATA, INFORMATION, SERVICES, PRODUCTS, AND TECHNOLOGY AT YOUR OWN RISK.
9.7 No Advice Provided . The Online Services are provided for informational and/or educational purposes and are not intended to provide tax, legal, investment or other advice, and should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security. LPL disclaims and You hereby acknowledge that LPL is not providing investment, tax, legal or other advice through or by providing the Online Services to You.
10. Limitations of Liability . THE MAXIMUM AGGREGATE LIABILITY OF LPL AND ITS SUPPLIERS AND LICENSORS TO YOU OR ANY THIRD PARTY FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THIS AGREEMENT, REGARDLESS OF THE FORM OF SUCH CLAIM, SHALL BE $1,000.00. IN NO EVENT WILL LPL OR ITS SUPPLIERS AND LICENSORS BE LIABLE FOR ANY CONSEQUENTIAL, SPECIAL, INCIDENTAL, INDIRECT OR PUNITIVE DAMAGES, SUCH AS, BUT NOT LIMITED TO, LOSS OF DATA, LOSS OF ANTICIPATED PROFITS OR BENEFITS ARISING OUT OF THE USE, RESULTS OF USE, OR INABILITY TO USE THE ONLINE SERVICES, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, EVEN IF LPL AND ITS SUPPLIERS AND LICENSORS HAVE BEEN ADVISED OF OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF SUCH DAMAGES.
11. Indemnification . You shall indemnify, defend and hold LPL and its officers, directors, managers, members, shareholders, employees, licensors, service providers, suppliers, contractors and agents and their successors and assigns (the “LPL Indemnitees”) harmless from and against any and all losses, liabilities, expenses, damages and costs, including reasonable attorneys’ fees and expenses, expert witness fees and expenses and court costs, that arise out of your use of the Online Services or any portion thereof, or any information or data derived therefrom. LPL reserves the right at its own expense to assume exclusive defense and control of any matter otherwise subject to indemnification by You and in such case You agree to cooperate with LPL in the defense and/or settlement of such matter.
12. Miscellaneous.
12.1 No Third Party Beneficiaries; Assignment . These Terms are made and entered into for the sole protection and benefit of the parties hereto and no other person or entity shall be a direct or indirect beneficiary of, or shall have any direct or indirect cause of action or claim in connection with these Terms. These Terms and the rights and obligations hereunder may not be assigned, delegated or otherwise transferred by You to any third party, by operation of law or otherwise, without the prior written consent of LPL.
12.2 Governing Law; Dispute Resolution . The construction and performance of these Terms will be governed by the internal, substantive laws of the State of California without regard to its choice of law rules. Any dispute arising under these Terms shall be determined in accordance with the dispute resolution provisions of the account agreement(s) between You and LPL.
12.3 Jury Trial Waiver . EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY.
12.4 Relationship of the Parties . Each party hereto shall remain an independent contractor and nothing herein shall be deemed to constitute the parties as partners, agents or joint ventures. Further, neither party shall have the authority to act, or attempt to act, or represent itself, directly or by implication, as an agent of the other or in any manner assume or create, or attempt to assume or create, any obligation on behalf of or in the name of the other, nor shall either be deemed the agent or employee of the other.
12.5 Notices; Consent to Electronic Delivery . To the extent permitted by applicable law, notices delivered pursuant to these Terms (“Notices”) may be sent to You through mail, overnight express delivery, posting on the Online Services, or electronically, at LPLs discretion. Notices will be sent to the postal or electronic address, including without limitation e-mail address or mobile phone number in the case of text (SMS) or multimedia (MMS) messages as applicable ("E-Address") shown on your account agreement or at such other postal or E-Address as You may hereafter provide to LPL or your financial professional in accordance with LPL procedures. By providing a telephone number to LPL or to your financial professional, You thereby authorize the receipt of Notices by text (SMS) or multimedia (MMS) messages, which may be sent by your financial professional or by LPL administrative personnel on your financial professionals behalf. If sent electronically, LPL may, at its option, send Notices to You either to your E-Address, or by posting the information on the Online Services and sending a notice to your postal address or E-Address providing instructions for viewing. To the extent permitted by applicable law, Notices will be deemed delivered when sent, whether actually received or not, even if LPL has notice of non-delivery. Notices posted to an online location by LPL will be deemed to be delivered to, and received by, You at the time that the Notice is posted online and available for review. All Notices to LPL must be provided in writing at LPLs postal address and will not be effective until actually received.
12.6 General . These Terms constitute the entire agreement, and supersede all prior negotiations, understandings or agreements (oral or written), between the parties concerning the subject matter hereof (and all past dealing or industry custom). Headings are for convenience of reference only and shall in no way affect interpretation of the Terms. The failure of a party to enforce its rights under these Terms at any time for any period will not be construed as a waiver of such rights. Unless expressly provided otherwise, each right and remedy in these Terms is in addition to any other right or remedy, at law or in equity, and the exercise of one right or remedy will not be deemed a waiver of any other right or remedy. In the event that any provision of these Terms is determined to be illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary so that these Terms will otherwise remain in full force and effect and enforceable.
13. Account View Additional Terms
13.1 Informational Use Only . The account balances, positions and transaction information supplied to You by LPL on Account View are for informational purposes only. This data is not intended to replace the LPL periodic statement of activity or official tax documents You receive.
13.2 Market Value of Priced Securities . This amount represents the total market value of the priced securities listed in your portfolio. While we make every attempt to gather the most reliable pricing data available, we cannot guarantee the accuracy of such prices. Pricing vendors provide securities prices that they believe to be accurate and reliable. Prices on securities are updated either daily, weekly or monthly, depending on the security type. Since each vendor prices securities at different times of the month, discrepancies may occur. Vendors do not price all securities; therefore, information on certain securities may not be available. Prices are intended as estimates of portfolio value only. Securities which have not been priced are not included in the portfolio value amount. We believe these estimated prices are satisfactory for most portfolio valuation needs. If You require an up-to-the-minute market value, please contact your financial professional. Market data is provided by Thomson Reuters. Quotes are delayed at least 20 minutes. Options Price Reporting Authority (“OPRA”) data is delayed 15 minutes.
Additional activity may be displayed, reflecting our effort to reverse incorrect information received from vendors, mutual funds, and other investment companies we use for statement information. Access to some information may be limited. As always, please refer to your periodic account statement provided by LPL for accurate information.
13.3 Performance . Past performance is no guarantee of future results. The market for investments is subject to fluctuation, such that, upon sale an investor may lose a portion of their original investment. Prior to additional investments in funds, please obtain a copy of the prospectus from your adviser. Read it carefully to make sure that the fund is appropriate for your specific investment objectives.
Sales charges and or fees may not be reflected in performance calculations. Indices, such as the S & P 500 may not be invested into directly. Cash equivalents may include money market funds that seek to maintain a $1.00 per share price. There is no assurance that these funds will be able to maintain a stable net asset value of $1.00 per share price.
There may be special risks involved in investing in international securities such as political and economic instability, currency exchange rates and accounting standards. The prices of small company stocks are generally more volatile than those of large company stocks.
13.4 Estimated Annual Income . Projected interest and dividend amounts, while believed to be accurate, are supplied by outside vendors and are intended to be used only as an estimate of future annual earnings.
13.5 Unrealized Gain/Loss . "Cost Basis", "Unit Cost", and "Unrealized Gain/Loss" are calculated and displayed on the Portfolio screens when cost basis data is supplied for each tax lot of the position. Unrealized Gain/Loss is calculated using prices which are provided by pricing vendors. We cannot guarantee the accuracy of such prices. This information is not intended to replace the periodic account statement You receive from LPL and should not be used for tax reporting purposes. If You require further information, please contact your financial professional.
13.6 Market Information . We may make available to You through Online Services a broad range of financial information that we obtain from our agents, vendors, or partners ("Third Party Providers"). This includes financial market data, quotes, news, analyst opinions, and research reports. Collectively, we refer to this as "Market Information." LPL does not endorse or approve the Market Information, and we make it available to You only as a service and convenience. LPL and our third Party providers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the Market Information, or (2) warrant any results from your use or reliance on the Market Information. Market Information may quickly become unreliable for various reasons including, for example, changes in market conditions or economic circumstances. Neither LPL nor the Third Party Providers are obligated to update any information or opinions contained in any Market Information, and we may discontinue offering Market Information at any time without notice. You agree that neither LPL nor the Third Party Providers will be liable in any way for the termination, interruption, delay, or inaccuracy of any Market Information. You will not redistribute or facilitate the redistribution of Market Information, nor will You provide access to Market Information to anyone who is not authorized by LPL to receive Market Information. If You are a securities broker, dealer, banker, or investment advisor, You agree not to use the Market Information provided by LPL for any purpose related to your business.
13.7 Financial Planners and Calculators . When You use various financial calculators, planners or questionnaires on our web site or Online Services, You may be asked for Personal Information in order to complete the requested analysis or evaluation. This information may be retained by the provider of the calculator, planner or questionnaire. Use of such functionality may be subject to additional or separate terms imposed by LPL or third parties. The output of calculators, planners and questionnaires is based on information and assumptions provided by You regarding your goals, expectations and financial situation. The calculations do not infer that LPL assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. The calculator, planner or questionnaire results: (1) depend on the criteria and methodology used, including the investment analysis tool's limitations and key assumptions; (2) may vary with each use and over time; (3) depend on the universe of investments considered in the analysis; and (4) are outcomes that are hypothetical in nature. Read carefully the criteria and methodology used, including the investment analysis tool's limitations and key assumptions of each calculator, planner or questionnaire.
13.8 Account Statements . Never rely on Account View for tax reporting, accounting, or valuation purposes. You can and should confirm the accuracy and completeness of the information (e.g. market values, transactions, deposits & withdrawals) by using the account statements You receive directly from LPL, investment sponsor, or other custodian instead of relying on Account View. Disclosures and other information presented with your account statements are vital to understanding adjusted cost, adjusted option contracts, cost basis, insured cash accounts, investments held outside LPL, and purchase cost. If You are not receiving statements from your custodian, please contact your custodian directly or call LPL at 800-558-7567.
13.9 Investments or Holdings Held Outside of LPL . Account View may display securities or financial products that were not purchased through LPL or that LPL does not hold on your behalf and which are not included on LPL's books and records ("Outside Investments"), or holdings or other account information for accounts held by You at another financial institution (“Outside Account Information”). Outside Investments may include mutual funds, fixed annuities, variable annuities, or alternative investments held directly with the Outside Investments sponsor. If Outside Investments data or Outside Account Information is displayed on Account View, it has been provided to LPL by a third party source and has not been verified by LPL. LPL strives to obtain data that it considers reliable, but it is possible that Outside Investments data may be subject to the following limitations when displayed in Account View. It may not include complete historical data, including holdings or transactions, or details about their costs or returns.
Please be aware that Outside Investments are not covered by LPL's SIPC Insurance because LPL's SIPC membership provides account protection only to assets held at LPL. Assets held by in an Outside Investments account may or may not be covered by SIPC or FDIC insurance. Questions about coverage should be directed to the Outside Investments sponsor
13.10 Data Aggregation . Account View may allow You and your financial professional to view certain elements of Outside Investments data or Outside Account Information on Account View through the use of data aggregation functionality provided by LPL’s third party data aggregation service provider (“Aggregation Vendor”). Your use of data aggregation is completely optional, and is provided solely as a convenience for You and for informational purposes. LPL has no control over, and is not responsible for the accuracy of, or any errors or omissions in, any Outside Investments data or Outside Account Information made available through functionality provided by Aggregation Vendor. You should not rely on any Outside Investments data or Outside Account Information on Account View as the basis for any of your investment, financial, tax planning or other decisions. To enable You and your financial professional to view Outside Investments data or Outside Account Information on Account View, You will be asked to agree to, and will thereafter be bound by, any terms and conditions required by Aggregation Vendor, including Aggregation Vendor’s privacy policies, and You should review these terms, conditions and policies carefully before deciding to agree to and be bound by them. When You authorize Aggregation Vendor to make Outside Investments data or Outside Account Information available on Account View, You understand that You are expressly authorizing LPL and your financial professional to request, receive, review and use such information in rendering services to you. If at any time You want to revoke your consent and authorization for Account View to display, or for LPL and your financial professional to request, receive, review and use Outside Investments data or Outside Account Information, You may do so by contacting your financial professional.
13.11 Positions, Transactions and Cost Basis . When Account View displays values such as gains and losses, certain calculations are based on transactional information such as "date acquired" and "purchase cost." Typically, the "purchase cost" is the actual purchase price including transaction charges and corporate actions for assets purchased in the LPL account. If the assets were purchased outside the LPL account and LPL has received incomplete transactional information, then Account View will display "N/A" as the "purchase cost" and treat the purchase cost as zero when calculating these values.
The "cost basis" associated with a transaction typically refers to the actual purchase price including transaction charges. For assets that were not purchased in the LPL account, LPL cannot guarantee that it received accurate or complete information regarding the purchase price or its transaction charges. When Account View displays "cost basis," your transactions are paired with your holdings on a "First-In/First-Out" basis, unless the transactions are manually adjusted. For this reason, the cost basis that is displayed in Account View may or may not match the cost basis provided in the trade confirmation or statement that You receive from LPL or your Outside Investments sponsor. If cost basis is not available, then Account View will display "N/A" as the cost basis. Cost basis should not be used for analyzing performance of a holding or an account. It is intended to provide information to assist with gain and loss planning. The use of cost basis information for calculating performance may provide different results for rate of return than those shown in Account View. If You have any questions regarding cost basis, please contact either your financial professional or a tax specialist.
13.12 Rate Of Return Calculations . Your financial professional determines whether a rate of return is displayed by default in Account View. When Account View displays a rate of return or other performance values ("ROR"), those values are expressed as a percentage, reflect the reinvestment of dividends and capital gains (to the extent reinvested), and reflect the deduction of any advisory fees and transaction charges. Unless otherwise stated, performance returns are cumulative. ROR is calculated using the internal rate of return method, which is also known as the money-weighted rate of return method. This method accounts for contributions into and withdrawals out of the account. Please be aware that reports produced outside of Account View, including mutual fund fact sheets, may display ROR values that differ from the ROR values displayed in Account View. This can occur when reports outside of Account View use other methods to calculate performance, including the time-weighted method. This can also occur when reports outside of Account View for a certain time period include mutual fund dividends that are earned prior to the end of that period but were not posted to the account until after that period.
Prior to June 2000, performance for LPL accounts is not available at the account, position, asset class, or security level, which may affect ROR calculations. If ROR cannot be calculated, Account View will display "--".
13.13 Mutual Fund Fundamentals . When Account View displays "price returns" for mutual funds, it is based on the mutual fund's net asset value (NAV) and is updated daily. Mutual fund returns are average annual total returns, include the impact of NAV changes, assume full reinvestment of dividends and capital gains and are updated daily.
13.14 Direct Participation Programs And Alternative Investments . Direct Participation Programs and Alternative Investments Direct participation program securities (e.g. partnerships, limited liability companies, fund of hedge funds, managed futures, and real estate investment trusts that are not listed on a national exchange or NASDAQ) are generally illiquid and You may not be able to liquidate. Securities prices may vary from actual liquidation value and should not be relied upon. The values for these securities generally are provided by the management of the program and represent the management's estimate of the investor's interest in the net assets of the program. Therefore, the estimated values shown may not be realized upon the sale of the securities on the secondary market or upon liquidation.
13.15 Downloads . In certain instances, data displayed in Account View is available for download by the user ("Downloaded Content"). Please be aware that all of the disclosures herein continue to apply to Downloaded Content to the same extent as if it were displayed in Account View.
13.16 Investment Risk . The values displayed in Account View are subject to change at any time, and may lose value including a portion or all of your investment. Performance data displayed in Account View is historical and past performance is no guarantee of future performance. Current performance may be lower or higher than the performance displayed in Account View.
14. Account View Transfers To Your LPL Account
14.1 Establishing Transfer Feature . If your financial professional establishes the ability to use Account View to initiate AV-Initiated Transfers, then the additional terms in this Section 14 shall apply. You will not be eligible to use AV-Initiated Transfers unless and until You agree to terms applicable to AV-Initiated Transfers by executing any form containing such terms that your financial professional provides in connection with AV-Initiated Transfers. By providing information about your bank account to your financial professional for AV-Initiated Transfers, You represent to LPL that: (i) You have read and agree to the terms and conditions in this Section 14 for adding the AV-Initiated Transfer feature to the applicable account maintained by LPL; (ii) the information You provide in connection with the AV-Initiated Transfer feature is accurate and complete; (iii) You are the owner or joint-owner of that bank account (the “Funding Account”); (iv) You are authorized to withdraw money from the Funding Account; and (v) LPL is entitled to rely solely on your direction in connection with such withdrawals regardless of whether there are other owners of the account in addition to you. You acknowledge and agree that AV-Initiated Transfers are only from your Funding Account to LPL, that You cannot use Account View to initiate withdrawals or transfers from your account maintained by LPL, and that a Funding Account may not maintained at an institution outside the United States.
14.2 Authorizing Transfers . Each time You use Account View to request an AV-Initiated Transfer: (i) You fully authorize LPL to initiate ACH debit entries to move money from the Funding Account to your account maintained by LPL whenever You use Account View to request an AV-Initiated Transfer; (ii) You fully authorize the financial institution that maintains your Funding Account to debit such entries to the Funding Account whenever You use Account View to request an AV-Initiated Transfer; and (iii) the authorization is to remain in full force and effect until the transaction or series of recurring transactions is complete or until LPL receives notification from You of its termination in such time and manner as to afford to LPL and the financial institution that maintains the Funding Account a reasonable opportunity to act on it. By using the AV-Initiated Transfers feature, You agree that the origination of AV-Initiated Transfers must comply with provisions of U.S. law.
14.3 Privacy Notice for Transfers. You understand that LPL will disclose information to third parties about the AV-Initiated Transfers or Mobile Check Deposits (see below) You make: where it is necessary for completing transfers; to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; to comply with a government agency’s instructions or requests or a court order, if You give LPL your written permission, or other purposes in accordance with LPL’s Online Privacy Policy and other applicable privacy notices from LPL.
14.4 ACH Transfer Fees . There is no fee to use the AV-Initiated Transfer service, although the financial institution that maintains your Funding Account may charge transaction fees.
14.5 ACH Error Resolution . In the case of errors or questions about your AV-Initiated Transfers, You will promptly call or write LPL using the contact information listed below. You will call or write LPL if You think your statement is wrong or if You need more information about an AV-Initiated Transfer on the statement. LPL must hear from You no later than sixty (60) days after LPL sent the first statement on which the problem or error appeared. You will: tell LPL your name and account number; describe the error or the AV-Initiated Transfer that You are unsure about, explain as clearly as You can why You believe it is an error or why You need more information; and tell LPL the dollar amount of the suspected error. If You notify LPL orally, LPL may require that You send your complaint or question in writing within ten (10) business days. LPL will tell You the results of its investigation within ten (10) business days after LPL hears from You and will correct any error promptly. If LPL needs more time, however, it may take up to forty-five (45) days to investigate your complaint or question. If LPL decides to do this, it will credit your account within ten (10) business days for the amount that You think is in error, so that You will have the use of the money during the time it takes LPL to complete its investigation. if LPL asks You to put your request or question in writing and it does not receive it within ten (10) business days, or if your account is a brokerage account subject to Regulation T of the Board of Governors of the Federal Reserve System (12 CFR 220), LPL may not credit your account. For questions involving new accounts, point of sale or foreign initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. With respect to new accounts, we may take up to twenty (20) business days to credit your account for the amount You think is in error. LPL will inform You of the results of its investigation within three (3) business days of its completion. If LPL decides that there was no error, LPL will send You a written explanation. You may ask for copies of the documents that LPL used in the investigation.
15 Mobile Check Deposits
15.1 Mobile Check Deposit Posting . Generally, deposits submitted on a business day prior to 4:00 p.m. ET and determined to be in good order will be posted that day. Check deposits are not processed on Saturdays, Sundays, or New York Stock Exchange and bank holidays. Deposits are generally available for withdrawal or to purchase securities online within four (4) business days. Your confirmation will indicate the availability of funds for your specific account. If LPL rejects an attempted check deposit, we will contact You.
15.2 Mobile Check Deposit Limitations and Restrictions . LPL does not accept certain instruments (including, but not limited to, the following: checks payable to "cash"; securities; travelers checks; foreign checks; starter checks or non-preprinted checks; post-dated checks; checks over six months old; money orders not purchased directly at a bank; credit card, credit line, or home equity line checks; checks missing signature; checks with written and numeric discrepancies as to the amount; checks made payable to the LPL financial professional, or Representative's Registered Investment Advisor (RIA), Doing Business As (DBA) or other outside business; checks with multiple endorsements; check-like instruments such as savings withdrawal slips or non-negotiable items.) for deposit through Account View. If You are a business, then You agree that: (i) You must be organized, licensed, and authorized to business in the U.S. to make mobile check deposits through Account View; and (ii) no one other than a representative of your business duly authorized in a manner acceptable to LPL in its sole discretion will be permitted to use Account View for mobile check deposits. Mobile check deposits shall be subject to daily limits on the aggregate amount You deposit. LPL shall determine such daily limits in its sole discretion. LPL reserves the right to impose daily limits on mobile check deposits. However, notwithstanding anything to the contrary, You acknowledge and agree that LPL may restrict your ability to make mobile check deposits into any LPL account or limit the amount of such deposits You make at any time as it determines necessary in its sole discretion to protect your LPL account or LPL or to comply with applicable laws or regulations.
15.3 Images of Deposited Checks . By using Account View’s mobile check deposit functions, You agree that Account View will use the camera on your mobile device to make accurate electronic pictures or replicas of the front and back of paper items defined as checks by Regulation CC of Board of Governors of the Federal Reserve System (“Images”). You represent and warrant that each Image You send through Account View and all signatures appearing on it are genuine and authorized and is not of an instrument that has been previously submitted or deposited with LPL or with anyone else and will not be used again unless LPL tells You to. All Images You transmit to us using Account View must be legible, compatible with LPL’s technology for receiving such images, and meet the requirements for reproducing original checks under Regulation CC and other applicable legal and regulatory requirements and any other requirements described herein. All hardware and software necessary to transmit Images will be at your expense. When You transmit an Image to us using Account View, You agree that the Image is an “item” as defined by the Uniform Commercial Code (“UCC”) and is the legal equivalent of your original check for all purposes including our qualifying as a holder-in-due-course for it as described by the UCC. LPL can attempt to process, collect, present for payment, return or re-present your Images in our sole discretion subject to applicable law. LPL can reject any Image for any reason at our option and without liability, even where LPL has provided You with a confirmation notice. If LPL rejects your Image, it will not appear in information about holdings or transactions in your LPL account. If You believe we have rejected an Image in error, You agree that You will need to try again and redeposit the Image. If an Image does not meet our processing requirements, LPL can also do any of the following in its sole discretion: (1) process the Image as received for payment; (2) correct the Image or its accompanying data and process the corrected Image for payment; (3) process the deposit for payment in another format as allowed; or (4) debit (chargeback) your Account for the amount of the Image. If You request a copy of the charged back image, LPL can return it to You in any manner or format LPL determines in its discretion. When You successfully transmit an Image to us, it will appear in information about your recent LPL account transactions. This does not necessarily mean that your deposit is complete. All of your Images are subject to our further verification prior to being accepted for deposit and final payment after deposit. Do not destroy your check until You see the full deposit amount posted included in the balance of your LPL account. Terms of other agreements You have with other parties, including those for your mobile device and cellular data provider could affect your ability to make mobile check deposits. LPL has no responsibility under any of these agreements, and these Terms will not change any of your rights and obligations under them. LPL may use a third-party service to process mobile check deposits and your use of such service may require You to agree to that service’s terms of use.
16. Individual Retirement Account Contributions . AV-Initiated Transfers and mobile check deposits into individual retirement accounts are subject to contribution limits and deadlines. Please call your financial professional for details.