We ask for this information to get a better picture of your financial situation. This helps us make sure our investment products are a good fit for you and allows us to meet our regulatory responsibilities (like those set by FINRA). Essentially, it helps us ensure we're recommending suitable options for your circumstances.
What shouldn't you include in your liquid net worth?
Think of assets that aren't easily turned into cash. This typically excludes:
Your home or other properties
Cars and personal items
Shares in a private business that aren't easy to sell
Other assets that take time to sell
What should you include?
Focus on assets you can access or convert to cash relatively quickly, such as:
Cash in bank accounts
Investments traded on public stock exchanges (like shares and ETFs)
Money market funds
Other investments that can be sold easily
Knowing this helps us understand your financial flexibility and ensure our platform is right for you!