HRS Account Type

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

• Cash Accounts: Investors must pay the full amount for securities purchased. No borrowing is allowed, making it a lower-risk option.
• Margin Accounts: These accounts allow investors to borrow funds from HRS to purchase securities. While this can amplify gains, it also increases the risk of losses, as investors must repay the borrowed amount plus interest.
• Retirement Accounts: HRS provides specialized accounts designed for retirement savings, offering tax advantages. These accounts include Traditional IRAs and Roth IRAs.
• Joint Accounts: Designed for two or more individuals, joint accounts enable shared investment and trading capabilities.
• Custodial Accounts: Managed by an adult custodian for the benefit of a minor, these accounts allow for investment until the minor reaches adulthood.

HRS Broker Account Opening Process

Opening a brokerage account with HRS involves several straightforward steps:

• Choose the Account Type: Determine whether you want a cash account or a margin account based on your investment strategy and risk tolerance.
• Complete the Application: Fill out the online application form, providing necessary personal information such as your name, address, Social Security number, and employment details.
• Review Account Features: Evaluate the account features, including fees, commissions, and available investment options.
• Fund Your Account: Transfer funds into your account via electronic transfer, check, or wire transfer. HRS may require a minimum deposit.
• Start Trading: Once your account is funded, you can begin buying and selling securities according to your investment plan.

For more detailed information, you can visit the HRS website.