Understanding How to Read Your Statements

Keeping track of your finances is an essential part of managing your investments. Your investment account statement is one of the most important tools for monitoring your accounts. LPL Financial, our custodial account holder, delivers a monthly consolidated report for all your accounts to your Account View. After opening your accounts with LPL Financial, we will establish your Account View login and email you to create an account password.

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Reading your statements is vital for the following reasons:

Accuracy: Your investment account statement summarizes your investment activity, including all transactions over a specific period. By reviewing your statement, you can ensure that all the information is accurate and that there are no discrepancies or errors. Please reach out as soon as possible if you notice an error.
Investment Performance: Your investment account statement also provides an overview of your investment performance. By reviewing this information, you can assess how well your investments perform, and we can make any necessary adjustments to your portfolio. This information is particularly useful when we meet with you to discuss your portfolio, where we can discuss any concerns or changes you would like to see.
Fees: Our fee structure is designed to be transparent, and your investment account statement will provide a detailed breakdown of any fees deducted from your account(s). Prior to opening any investment accounts on your behalf, we will provide you with a comprehensive overview of our fees that you can review.
Compliance: Providing investors with regular investment account statements is mandatory by law. We take compliance seriously and want to keep you informed about your accounts. Even if it was not a legal requirement, we are committed to ensuring that our clients are financially empowered. This educational empowerment begins with keeping them updated on what is happening with their accounts.
Planning: Reviewing your investment account statement can be a crucial step in planning for the future. With a comprehensive understanding of your investment performance and fees, we can help you make informed decisions about your investment strategy and plan for your future financial goals. We aim to help you navigate the various aspects of your financial life, no matter how complex, by addressing your planning needs and helping you select the right solutions to achieve your objectives.
Scarlet Oak Financial Services can be reached at 800.871.1219 or contact us here.  
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How to Read Your Statement PFD was sourced from LPL. Content intended for educational/informational purposes only. Not investment advice or a recommendation of any security, strategy, or account type. Scarlet Oak Financial Services provide these materials for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.