Portfolio Connection Brokerage Account - Union Bank
Portfolio Connection Brokerage Account - Union Bank
Portfolio Connection Brokerage Account - Union Bank
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improvement), access to reliable market data, availability of efficient<br />
automated transaction processing and reduced execution costs<br />
through price concessions for the market centers. Certain market<br />
centers may execute orders at prices superior to the publicly quoted<br />
market in accordance with their rules or practices. I understand that<br />
Investment Services’ and NFS’s order-routing policies, taking into<br />
consideration all the factors listed above, are designed to result in<br />
favorable transaction processing for me. While I may specify that an<br />
order be directed to a particular market center for execution, I agree<br />
that Investment Services and NFS may, without incurring liability to<br />
me, transmit my orders for execution to an exchange or market center<br />
other than the one I specify. I acknowledge that orders placed through<br />
any telephone, electronic or online trading systems cannot specify a<br />
particular market center for execution.<br />
Investment Services and/or NFS may receive remuneration,<br />
compensation or other consideration for directing customer orders<br />
for equity securities to particular broker-dealers or market centers<br />
for execution. Such considerations may take the form of financial<br />
credits, monetary payments or reciprocal business.<br />
B. <strong>Account</strong> Features<br />
i. Core <strong>Account</strong> Investment Vehicles for Sweeps<br />
<strong>Union</strong>Banc Investment Services LLC provides the ability for me to<br />
automatically “sweep” the cash balances awaiting investment in my<br />
brokerage account into a core account investment vehicle while I<br />
decide how those funds should be invested. I may choose to sweep<br />
the cash balances in my brokerage accounts into either an interestbearing<br />
FDIC-insured deposit account at <strong>Union</strong> <strong>Bank</strong>, N.A., or the<br />
HighMark California Tax-Free Money Market Fund. The available<br />
cash from securities transactions, dividend and interest payments,<br />
and other activities in my brokerage account will be automatically<br />
deposited or “swept” into this cash management investment vehicle.<br />
If I elect to participate in the sweep program, I will review the <strong>Bank</strong><br />
Deposit Sweep Program All About and Disclosure Document for the<br />
BDSP sweep vehicle, especially as to eligibility and applicable limits<br />
of the Federal Deposit Insurance Corporation (“FDIC”) insurance<br />
coverage and Securities Investor Protection Corporation (“SIPC”)<br />
fund protection. If I elect to participate in the sweep program with<br />
the HighMark California Tax-Free Money Market Fund as my sweep<br />
vehicle, I will review the prospectus. I acknowledge receipt of the<br />
BDSP disclosure or HighMark prospectus as applicable.<br />
This sweep program should not be viewed as a long-term investment<br />
option. If I desire, as part of an investment strategy or otherwise, to<br />
maintain a cash position in my account for other than a short period<br />
of time and/or am seeking the highest yields currently available<br />
in the market for my cash balances, I will contact my Investment<br />
Representative to discuss other investment options that may be available<br />
outside of the sweep program that may be better suited to my goals.<br />
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