Vestive for Individuals was not able to achieve the scale needed to sustain operations in the current market.
Vestive investors will be able to login through December 30, 2020.
Vestive will not be able to service or access your account after close of business on December 30, 2020.
For some investors, it will be important to take action before December 16, 2020. Click here to see if the dealine applies to you.
You have two options available to you:
Your deadline to withdraw is December 30, 2020.
For step-by-step instructions on how to withdraw funds, click here.
Your deadline to transfer via ACAT is December 16, 2020. We cannot guarantee that transfers initiated after this date will be successful.
For step-by-step instructions on how to transfer via ACAT, click here.
Vestive will direct Folio Investments, Inc ("Folio"), your current custodian, to sell out of your positions and disburse the balance of your account via check or ACH withdrawal. ACH withdrawals will be sent to your bank on file. For accounts with no valid linked bank account, checks will be mailed to your address of record.
For instructions on updating your bank account, click here.
For instructions on updating your mailing address, click here.
Vestive will pay any fees associated with closing or transferring your account and withdrawing funds. Vestive will not charge management fees beginning November 17, 2020.
Vestive has never stored your Social Security Number or bank information (i.e. routing numbers, account numbers and login credentials). Vestive is required by the SEC to maintain books and records on individuals with whom it has or had client or marketing relationships. This includes information such as your name, address, and trading history.
Vestive has incorporated bank-level security measures in everything we do. This includes the strongest available browser encryption, secure servers, and identity verification services — among other precautions.
As of January 8th, 2021, Vestive directed Folio Investments, Inc (“Folio”), Vestive's broker and custodian, to liquidate any remaining client accounts and disburse the balance via check or electronic deposit (ACH). ACH withdrawals were sent to your bank on file. For accounts with no valid linked bank account, checks were mailed to your address of record.
If your account still has securities (e.g. stocks, bonds, ETFs, etc.) or a cash balance after January 8th, 2021, please contact Folio and instruct them to liquidate any remaining holdings and send you the remaining funds. They can initiate an electronic deposit to your bank account on file.
In most cases, residual holdings only exist for customers who transferred accounts to Vestive from Swell and kept their Swell holdings. Unfortunately, some Swell portfolios contained securities that trade at low volumes. As such, a sale of those securities could not be completed at the time Vestive for Individuals closed.
In a number of cases residual cash balances are the result of dividends paid by your investments in your Vestive portfolio after your account was liquidated.
You can contact Folio via email and phone. As of January 8th, 2021, Vestive sent you an email which contains your Folio account number. Please reference that number when contacting Folio.
You can access tax documents from previous years, as well as account statements, through the Folio interface. Your 2020 tax documents should become available on the Folio platform around March 1, 2021. You will receive an email from Folio notifying you when they are available.
Your Folio account information was included in Vestive's final email, sent by January 8th, 2021 to your email address on record.
To login to Folio:
- Go to www.folioclient.com
- Click the "Login" button and use your Folio Investments Login ID to access your account.
- If you forgot or do not have a Folio username, click "Forgot Username?"" on the Login screen.
- If you forgot or do not have a Folio password, click "Forgot Password?"" on the Login screen.