Douglas Licari Account Type

Douglas Licari, associated with MML Investors Services, LLC, offers various types of brokerage accounts to cater to different investment needs. The main account types include:

• Cash Accounts: These accounts require full payment for securities purchased. Investors must deposit the entire amount before buying stocks or other investments.

• Margin Accounts: In a margin account, investors can borrow money from the broker to purchase securities, allowing for greater purchasing power. However, this type of account involves higher risk due to the potential for margin calls.

• Retirement Accounts: Douglas Licari also facilitates retirement accounts such as IRAs, allowing investors to save for retirement with tax advantages. Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawal.

• Custodial Accounts: These accounts are designed for minors, where an adult manages the investments until the child reaches adulthood.

Douglas Licari Broker Account Opening Process

To open a brokerage account with Douglas Licari at MML Investors Services, LLC, follow these steps:

• Choose Account Type: Determine which type of account suits your investment goals—cash, margin, retirement, or custodial.

• Complete Application: Fill out the brokerage account application. This can typically be done online or in person. You will need to provide personal information, including:

• Full name
• Physical and mailing addresses
• Social Security number
• Income and net worth information

• Review Agreement: Carefully read the new account agreement, which outlines your rights and responsibilities regarding the account.

• Fund Your Account: Transfer funds to your new brokerage account. This can be done via electronic transfer from a bank account, check, or wire transfer.

• Set Preferences: Choose how you wish to receive trade confirmations and account statements, either by mail or email.

• Start Trading: Once your account is funded, you can begin buying and selling securities through Douglas Licaris brokerage services.

Investors interested in opening an account can reach out to Douglas Licari for assistance and further information on account types and requirements.