Whenever securities are purchased, exchanged, transferred and/or sold from your Beanstox account, you will receive a transaction confirmation statement as part of the process. These statements are required by the Securities and Exchange Commission (SEC) and provide you with important information related to the trade.
Your transaction confirmation statements include information related to:
A recent deposit or withdrawal: This is the most common reason. As you add or withdraw money to/from your account, securities are bought or sold in your personalized ETF portfolio. These transactions will show up as trades in your account history and your transaction confirmation statement.
Dividends: This is another common reason why you might see unexpected trades in your Beanstox account. Companies you invest in pay dividends, which are reinvested when your account is rebalanced and securities are bought. Those trades will also be reflected in your account history.
Account rebalancing: Every now and then your personalized ETF portfolio will experience what we call drift. This can be caused when securities in your Beanstox portfolio experience market movement, resulting in misalignment with your approved portfolio. In order to get your account back into alignment, some securities are sold and others are bought. Those trades will all show up on the transaction confirmations in your account.
Why Do I Need A Transaction Confirmation Statement?
Transaction confirmation statements are an important part of the trading process and provide you with necessary information to help you understand your investments. Every time securities are bought or sold in your portfolio, a transaction confirmation statement is generated, displaying the security’s name, how much was bought or sold, and the price paid or received.
These documents also help you verify that the information is correct and help identify possible fraud.
Transaction confirmation statements may look different depending on the broker-dealer because there isn't a unified format. If you ever have any questions about your statement, please contact our Customer Support team.