What is and How Does the Fully Paid Stock Lending (FPSL) Program Work?
The Fully Paid Stock Lending (FPSL) program is a voluntary subscription program that allows you to obtain an additional income on the stocks you have already invested in and fully paid for in your portfolio.
FPSL is a tool operated by our provider and custodian, DriveWealth. The program allows you to temporarily lend your shares to other financial institutions (like hedge funds or brokers) who need them for various market strategies. In return, these institutions pay interest, of which you receive a percentage.
Benefits and Compensation
Benefit | Description |
Additional Income | You receive compensation or interest for lending your shares. Compensation Calculation: Borrowers or financial institutions that borrow the shares pay a daily interest rate to our custodian, DriveWealth, based on the value of the shares on loan. DriveWealth then splits that interest among themselves, Vest, and you. The amount you receive is a variable portion of that interest rate and is credited to your investment account as income. |
Recurring Points | By participating in the program, you earn 50 recurring Vest Points every month. These points are key to reaching the 100-point threshold and waiving the monthly Platform Fee of $3 USD. You must be active in the program to receive the points. |
Eligibility and Participation
How is the eligibility of my account determined?
Eligibility for the FPSL is based on an independent risk analysis per account, aligned with our internal suitability criteria.
Is participation in the FPSL mandatory?
No, the program is entirely voluntary. You can exit the program at any time if you wish.
How do I know if my account was automatically activated?
In accordance with our internal eligibility criteria, if your account was considered suitable for the program, automatic activation proceeded. In this case, you should have received a notification informing you of this change, the steps to opt out, and the associated risk disclosures.
You can verify your participation from the app, in Account Settings. If the FPSL program is activated, you are participating; otherwise, you can activate it to join.
What happens if I was not automatically activated or cannot activate it in the app?
In this case, we invite you to contact our support team for more information about the enrollment and eligibility process via the chat in the app or by email at support@mivest.io.
If I am eligible, are my shares automatically lent?
Not necessarily. Your participation in the FPSL is the door to additional income, but the lending of your shares only occurs if there is active market demand for those specific securities. If there is no demand, your shares remain in your investment account, are not lent, and do not generate interest from the loan.
How can I exit the program if I wish (Opt-Out)?
You can opt out of the program at any time. Simply go to the application and follow this route:
Account Settings
Disable the FPSL function.
Securities offered by Northbound Securities, LLC Member FINRA/SIPC