General Finance Account Types

General Finance offers several types of brokerage accounts to cater to different investment needs. The main types include:

• Cash Account: This is the simplest type of brokerage account where investors can only buy securities with the cash available in the account. There is no borrowing allowed, which minimizes risk for investors.

• Margin Account: This account allows investors to borrow money from the broker to purchase securities. This leverage can enhance potential returns, but it also increases the risk of losses. Investors must maintain a minimum balance and pay interest on the borrowed funds.

• Retirement Accounts: General Finance also provides tax-advantaged retirement accounts like IRAs, which allow individuals to save for retirement while enjoying tax benefits.

• Joint Accounts: These accounts enable two or more individuals to manage investments together, making it suitable for couples or business partners.

• Robo-Advisor Accounts: For those looking for a hands-off approach, General Finance offers robo-advisor services that use algorithms to manage investments based on individual goals and risk tolerance.

General Finance Broker Account Opening Process

Opening a brokerage account with General Finance involves a straightforward process:

• Research Account Options: Decide which type of account suits your investment goals, whether it's a cash account, margin account, or retirement account.

• Gather Required Information: Prepare personal information such as your full name, address, social security number, and employment details. You may also need to provide bank account information for funding.

• Complete the Application: You can apply online or at a branch. The application typically takes about 15 minutes to complete.

• Fund Your Account: After your account is approved, you need to fund it. This can be done via electronic transfer from a bank account, wire transfer, or by mailing a check.

• Choose Account Preferences: Decide whether you want to receive trade confirmations via mail or email and set any other preferences.

• Start Trading: Once your account is funded, you can begin buying and selling securities according to your investment strategy.

By following these steps, you can easily set up your brokerage account with General Finance and start your investment journey.