Altruist is becoming a
self-clearing custodian.

About the Conversion

• Why are you making the change to self-clearing?
  By switching to self-clearing, Altruist will be able to enhance its overall offering of new products and services to Advisors and Clients, including new account types, new security types, and increased digital capabilities.
• Who are the parties involved in the clearing firm conversion?
  The customer accounts of Altruist Financial LLC (“Altruist”), your broker dealer, which holds your account and those of your clients.
  Apex Clearing Corporation (“Apex”) carries Altruist accounts and provides trading, clearing, and custody services to Altruist.
  Altruist Financial LLC, which has been approved as a Self-Clearing Broker Dealer and will now bring trading, clearing, and custody services in-house to Altruist.
• Is the conversion going to be publicly announced? If so, when?
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• Can I keep my account(s) at Apex?
  No. Altruist will no longer support accounts held at Apex.
• What is the deadline for advisors to acknowledge Altruist’s account agreement and what happens if this isn’t completed by that deadline?
  Advisors are encouraged to review and acknowledge the new Altruist account agreement for their fee accounts immediately, and no later than, 60 days following the Conversion Date. Advisors who do not acknowledge their agreements prior to the deadline will be unable to withdraw funds from their fee accounts until such time as they have acknowledged their agreements.
• Will this conversion impact the manner in which I support my clients?
  No. This is a backend conversion and should not impact your client relationships or workflows.
• What happens if a client changes their mind after the negative consent deadline?
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• Who should I contact if I have questions about the conversion?
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Account Access and Action Items

• How do I verify my information and confirm 2 Factor Authentication?
  Log in here to acknowledge your account agreement. If 2-factor authentication is enabled for your account, you will need to authenticate prior to accessing your agreement.
• Will an advisor be able to trade in the account of a client before that client has acknowledged Altruist’s account agreement?
  Yes. Clients' accounts will not be restricted in any way related to the conversion unless the client fails to acknowledge Altruist’s customer account agreement within 60 days following the Conversion Date.
• If an advisor hasn’t acknowledged Altruist’s account agreement for their fee account, are there any restrictions on that advisor or the advisor’s clients?
  Advisors who do not acknowledge Altruist’s account agreements for their fee accounts within 60 days following the Conversion Date will be prohibited from withdrawing funds from such accounts until such time as they acknowledge Altruist’s account agreements. Clients' accounts of impacted advisors will not be restricted regardless of their advisors’ fee account status.
• When can we start opening new accounts clearing through Altruist Financial?
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• Will I have access to performance history from Apex?
  Yes, complete account history, including performance charts and reports, will continue to be available through the front-end platform and client app.

Products and Services

• Will any services, products, or account types be discontinued?
  No. You can expect the same features and account management after the conversion. Any changes will be additive.
• Will there be any disruption in trading?
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• Will platform functionality be impacted in any way?
  The user experience on the platform will remain the same. Clients opening new accounts may notice additional fields for required information in the onboarding process.
• Will all mutual fund holdings be available immediately after the conversion?
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• Will the FDIC sweep program be available through Altruist?
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Investments and Fees

• Will there be any changes to my fee billing?
  Fee billing arrangements between advisors and their clients will remain the same. No changes are needed.

Money and Transfers

• Will my bank links and deposits carry over to Altruist?
  Yes, linked bank accounts, transaction history, and scheduled transactions will carry over from Apex to Altruist.
• Will Move Money Authorizations remain in effect post-conversion?
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• Will there be any change to the ACAT process?
  ACATS to Altruist can be initiated during the account-opening process as soon as an account number is generated.
  The Apex DTC # should no longer be used. After conversion, all incoming ACATs are to be submitting using Altruist’s DTC #3164.
• What happens to transfers (ACH, ACATs, non-ACATs, etc) that occur during the conversion period?
  Any assets delivered to Apex during or after the conversion will be systematically swept to the corresponding accounts at Altruist on a scheduled basis for up to 5 weeks following the conversion.
• Where should check deposits be sent, and to whose attention?
  Check deposits are to be made payable to:
  Altruist Financial LLC
  300 S. Pearl Expressway
  Suite 250
  Dallas, TX 75201
  Checks for deposit must include the recipient client’s account number in the memo field on the check.
  For qualified retirement accounts, the contribution year should also be added to the memo line on the check.
• Have the wire deposit instructions changed?
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Statements and Taxes

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