Who is Apex Fintech Solutions?

To learn more about Apex Fintech Solutions, refer to About Apex Clearing Corporation. Apex Clearing Corporation is a wholly owned subsidiary of Apex Fintech Solutions.

Investor Overview

Please note, you should direct your questions about your investment account to the financial services firm where it was opened. As the clearing broker dealer, we are not allowed to take instructions from or advise individuals about their accounts.

If you have already reached out to the financial services firm where your account was opened and still need to contact Apex, please submit a request and choose I have an Investor Inquiry and select General Inquiry under What can we help you with today?.

If you received a notification that your financial services firm is no longer in business and your accounts are held with Apex, please review your options in the Broker-Dealer Withdrawal Overview section below.

Broker-Dealer Withdrawal (BDW) Overview

You've recently been notified that your financial services firm is shutting down or no longer in business. What does this mean for you, your account, and Apex Clearing Corporation?

If your firm was a Broker-Dealer, please see more detail on their registration withdrawal process here. If your firm was an Investment Advisor, please see more detail on their registration termination process here. In either case, Apex Clearing Corporation (“Apex”) is here to help keep your assets safe and explain your options regarding your investment account.

Apex is the custody and clearing firm that sat behind the scenes when your account was with your financial services firm. We’ve been in business for over a decade and custody over $123 billion in assets for over 21 million accounts.* We processed your transactions, delivered your statements, and helped to keep your assets safe. Apex Clearing Corporation is registered with the SEC and are members of FINRA and SIPC.

We know you have plenty of choices regarding a financial services provider. Given that your former financial services firm is going out of business, we want to encourage you to find the right fit for your account, cash, and investments. Review the following section for more detail to help you evaluate those options. Once you decide what you want to do, we are here to help get your assets to their new home.

Option 1: Transfer Your Account to Another Brokerage Firm 

If you have another account with an existing brokerage firm, you can reach out to them to initiate an account transfer on your behalf.

• They will provide you with the appropriate transfer request paperwork and will guide you through that process.
• You can also transfer your account to a new brokerage firm.
  • Contact your new brokerage firm of choice and follow their instructions to initiate the transfer.
• Both of these options will allow you to maintain your current portfolio at the other firm, but you will incur a transfer fee of $75.

Option 2: Liquidate your Assets

Liquidating assets can take place in two ways. For those that have received an email, follow the Apex Broker-Dealer Withdrawal (BDW) Platform support steps numbered below. For those using Apex’s direct support, do the following.

Instruct Apex to Liquidate your Assets

If you would like to liquidate all of your assets, and don’t have access to Apex BDW Platform outlined below, Apex can send a check by mail to your address of record. Please submit a request by first selecting the My broker dealer is no longer in business and then choose Liquidate Account under What can we help you with today? and include the following attachments:

• Photo ID (Driver's License, State ID, Passport)
• A Letter of Authorization Template (click LOA Template attached at the bottom) to liquidate your account.
• Completed Check Request form (click attachment at the bottom).
  • A separate Check Request form must be submitted for each account.
  • Include an Apex Account Number on the Check Request form.

Once Apex has received your complete instructions, we will liquidate any securities held in your account and send you a check for the final balance in the account less any fees.

• The total cost for this service is a $5 check processing fee.
• Please be aware that the overnight check fee is $50.

Your Apex account number can be located on your monthly statements and tax forms from previous years. In the case you cannot find it, please submit a request by choosing My broker dealer is no longer in business and select Get Account Number under What can we help you with today?. You'll be prompted to submit the last four digits of your SSN and the email address associated with your account in order to verify your identity.

If you have questions about your address on record, please include those on the ticket and follow the same process. 

Leverage the Apex Broker-Dealer Withdrawal (BDW) Platform to Liquidate

If your financial services firm has gone out of business, you may have received an email from Apex notifying you of the opportunity to sign in to our online account management tool, Apex Broker-Dealer Withdrawal. That email will instruct you how to create a login for the site. The platform will enable you to access your statements, confirmations, 1099s, and balances.

Once logged in, you’ll have the ability to liquidate your account and request the proceeds via a check from Apex. This can be done by completing the following steps:

1. 1. Select Trading underneath the Home icon on the left-most banner.
      
      
   2. Navigate to the right hand side of the screen, select the product you’d like to sell from the dropdown under Equity and designate the Action dropdown beneath it.
      
      
   3. Specify the quantity you’d like to sell, then preview your Market order before executing.
      
      
   4. Two business days after placing the sell order, your funds will appear in the Withdrawable Cash card at the top of your Home Screen. Please note, if you don’t see an amount in unsettled cash then your transaction is still processing. Your request to withdraw funds will not be successful.
      
      
   5. Once your funds have settled, you can navigate to the Account icon at the bottom of the left-most banner. You’ll have the opportunity to review your documents and select Withdraw to request your funds here.
      
      
   6. Please be aware of the following caveats:

• • • There will be a $5 processing fee for all withdraw requests.
    • Using the Withdraw button will send the check to your address on your profile. If you’d like to send the check elsewhere or request expedited processing for $50, please submit a request and select My broker dealer is no longer in business and then Apex BDW UI Support under What can we help you with today?, and detail your request.
    • If the settled cash in your account is less than $5, please do not use the Withdraw button. Instead, submit a request and select My broker dealer is no longer in business and then Apex BDW UI Support under What can we help you with today?.

If you have questions about leveraging the tool, please submit a request and select My broker dealer is no longer in business and then under What can we help you with today?, choose Apex BDW UI Support.

Alternatively, you can transfer your account by initiating a request with another brokerage firm, as detailed in Option #1.

We strongly encourage you to pursue one of the above options as additional administrative fees may apply.

• If you fail to transfer your account or instruct Apex to liquidate and disburse funds, your account is subject to a $15 monthly administrative fee starting 60 days after the initial notification from Apex.
• Note that If your account does not have sufficient funds to cover the monthly fee, a portion of your securities holdings will be liquidated to cover the cost.

*Apex proprietary data as of 12/31/2023.
Apex reserves the right to liquidate securities, issue certificates for securities, and/or issue a check to the account’s address of record for any remaining account balances. If the balance in the account is not sufficient to satisfy assessed fees, Apex reserves the right to liquidate securities in the account or take any other action available to Apex. Please be advised that you are solely responsible for all tax and other financial implications in this regard.

• Check Request.pdf1 MB
• LOA Template.pdf400 KB