Webull Advisors

What does Webull Advisors do?

Webull Advisors, a robo-advisory service, provides automated and personalized investment services tailored to individual risk tolerance levels. Our platform offers a selection of diversified portfolios, which includes up to 30 different options, primarily composed of ETFs, to suit various investment needs. Your customized portfolio recommendation is automatically generated based on the results of your individual risk assessment and investment preferences, ensuring a personalized approach to your financial goals. Webull Advisors is committed to transparency and will provide clear disclosures of our fees, and the risks associated with investing.

How do I open a Webull Advisors account?

To begin the process of opening a Webull Advisors account, you will first complete a required risk assessment designed to understand your investment preferences and risk tolerance. Once this process is completed, your application will undergo a verification process. While we strive to review and update you on the status of your application within approximately 24 hours, please note this timeframe may vary depending on specific circumstances. We appreciate your patience and will provide timely updates as your application progresses.

Account Application

You can apply for an account only through the mobile app. To begin the application:

• Tap the Menu, then select Robo under the Shortcuts section.
• Applications are not supported on the Lite version or the HD tablet version of the app.

Who is eligible to open a Webull Advisors account?

To be eligible for a Webull Advisors account you must be a permanent resident of the United States and be at least 18 years of age. Please note that additional eligibility requirements may apply, and one's ability to open an account is subject to the fulfillment of all the required criteria as per regulatory standards and Webull's policies.

What’s the minimum amount to invest?

The initial minimum investment and minimum balance required to open and maintain a Webull Advisors account is $100.

How do I fund my Webull Advisors account?

Funding your Webull Advisors account can be done through several methods, such as ACH transfers, wire transfers, or for certain eligible clients, directly from your existing Webull Financial account. While we are diligently working to broaden the availability of internal transfers for all clients of Webull Financial, please note that this option may not be immediately available to everyone. We will continue to update our clients on the availability of new features and services intended to enhance the funding experience.

Depositing Funds

To deposit into your advisor account:

• Switch to your advisor account, then tap Add/Transfer Money under the Actions tab.
• You can deposit via ACH or wire transfer.
• Recurring deposits can also be set up directly within your advisor account.
• To transfer funds internally from another Webull account, tap Transfer Money and select Webull Account as the source.

Are there any costs in a Webull Advisors account?

Yes, there are costs associated with a Webull Advisors account. However, we offer an introductory free period for new clients for the first 3 months. Once the introductory period concludes, you will incur fees based on the account's balance. Fees are calculated daily with the following formula: Daily Accrued Fee = (Account's closing Net Account Value of the previous day * annual rate of 0.2%) / 365. In a leap year, the denominator changes to 366. Should the sum of the daily fees amount to less than $1 within a particular month, a flat $1 fee will be assessed for that month. The accumulated fees for each month are deducted from your cash balance on the second trading day of the following month. If there's insufficient cash to cover the fees, some assets may be liquidated for the payment. Furthermore, any outstanding fees will be deducted from the account balance upon termination; this may necessitate the liquidation of assets if needed. In instances where the fee deduction process is unsuccessful, we will carry forward the outstanding fees to the next billing cycle.

Can I change my portfolio?

Yes, you have the flexibility to modify certain aspects of your investment portfolio.

While you can switch your investment strategy at any time—choosing from options like Wealth Builder, Sustainability, Tax-Aware, Dynamic with Alts, and Dynamic with Bitcoin—your portfolio risk level is based on your responses to the Risk Tolerance Questionnaire (RTQ) and cannot be changed unless you retake the RTQ.

To explore different strategies, simply navigate to the 'Action' tab and select 'Review My Portfolio'. From there, you can preview and select one of the five available strategies while remaining within the risk level assigned to you.

If your financial situation or goals have changed and you'd like to pursue a portfolio with a different risk level, you’ll need to retake the Risk Tolerance Questionnaire to ensure your portfolio continues to align with your updated investment profile.

Please note: Changing your strategy or retaking the RTQ may lead to account rebalancing, which can trigger the sale of existing investments and potentially generate tax consequences. Always review the latest disclosures or consult with a financial advisor to understand the full impact of any changes you make.

How do I modify my risk tolerance level?

To modify your risk tolerance level, please follow these steps:

1. Log into your account and go to the "Action" tab.

2. Look for the option labeled "Review Account Risk Level."

3. Click on this option to initiate the reassessment of your current risk profile.

Please keep in mind that you are permitted to adjust your risk tolerance level only twice within a 90-day window. This limitation is in place to encourage a stable and well-considered investment approach, discouraging frequent or impulsive changes that might not align with your long-term investment goals.

How does Webull Advisors manage my assets?

Webull Advisors manages your assets by creating a portfolio that's calibrated to your risk tolerance, ascertained through a risk tolerance questionnaire. It considers your financial goals and appetite for risk, and spreads your investments across a range of assets, tailored to your comfort with risk.

We continuously track market trends and perform regular portfolio rebalancing to maintain the intended asset allocation, ensuring it stays consistent with your risk tolerance. During significant market changes, Webull Advisors may implement strategic adjustments to navigate risks and seek growth potential.

Opting for Webull Advisors account provides you with a personalized investment strategy designed to optimize the balance between risk and return in line with your individual risk tolerance. It's important to regularly update your investment preferences to ensure that your portfolio continues to reflect your changing financial goals or life situation.

Can I choose the investment and timing of trading in my portfolio?

When using Webull Advisors, your portfolio is fully managed by Webull's discretionary service. This means that the choices of ETFs and the timing of trades are handled by Webull Advisors, reflecting your risk tolerance and financial goals as established in your initial profile. Your ability to dictate specific investments or trade timings directly is not available; however, it's crucial to keep your investment profile updated to ensure your portfolio adapts to any changes in your financial circumstances.

How is the portfolio managed?

When clients onboard with Webull Advisors, we begin by having them complete a risk tolerance questionnaire. This assessment helps us determine the appropriate investment strategy that aligns with their individual risk profile and financial goals. Based on the results, clients are matched with a model portfolio that ranges from conservative to aggressive, each with a predefined asset allocation strategy.

The portfolios are actively managed and periodically rebalanced to maintain the target allocation. Rebalancing ensures that the portfolio stays in line with the client's risk profile, especially as market conditions change. If an asset class's weight deviates significantly from its target allocation due to market movements, we strategically buy or sell assets to return the portfolio to its intended asset mix.

In managing the portfolios, we implement strategic rebalancing which could occur on a regular schedule (such as quarterly or annually) or when allocations shift beyond certain thresholds. This process works to manage risk and can potentially capitalize on market opportunities, ensuring that the portfolio continues to reflect the client's risk tolerance and investment objectives over time.

When will my portfolio start to invest after my deposit?

The timeline for your funds to settle may vary depending on the method of deposit; typically, it could take up to 5 business days. Instant buying power is made available to your account during the processing of your ACH deposit. Once the funds have settled or the buying power is updated within your account, the necessary trades will be automatically scheduled based on the strategy you selected and the portfolio tailored to your risk tolerance. If this is your first deposit, the required purchase orders will be completed within 2 business days. For additional deposits to an existing portfolio rebalancing could take up to 7 business days, depending on trades that are either already scheduled or have recently taken place. Occasionally, there might be a slight delay due to market conditions. For further details or assistance, our customer service team is readily available to help you.

Once I submit a request to withdraw funds, how long will it take for the funds to be credited?

If there is enough cash in your account to cover the request, the withdrawal will be processed immediately. However, if there is not enough cash in your account, the system will generate orders to sell positions to generate the necessary funds for your withdrawal. Once the sell orders settle, the proceeds from the sale will be used to process your withdrawal. If there are other rebalancing orders in process, the system will finish those before executing the necessary sell orders for the withdrawal. This can cause the process to take up to 6 business days but will typically be settled within 2 to 3 business days.

The time it takes for funds to be credited to your external account can vary depending on the bank and payment system used. Typically, ACH transfers take 3 to 5 business days to credit, while wire transfers usually take 1 to 2 business days. Occasionally, there might be a slight delay. For further details or assistance, our customer service team is readily available to help you.

Withdrawing Funds

To withdraw from your advisor account:

• Switch to your advisor account, then tap Withdraw under the Actions tab.
• You can withdraw via ACH or wire transfer.
• To transfer funds internally to another Webull account, tap Withdraw and select Webull Account.

Important Notes:

• If your account balance is $100 or below, there will be no withdrawable funds. To access the remaining balance, you’ll need to close the advisor account and transfer the funds to your linked bank or Webull account.
• Accounts with a NAV below $100 due to market depreciation will remain open and are not automatically closed.

Can I cancel or modify my withdrawal request after submitting it?

You have the option to cancel or modify your request before the next business day after submission. To do so, navigate to your account page, select the 'Actions' tab, locate the corresponding withdrawal, and proceed to make changes or cancel it. After the next business day cutoff, you will no longer be able to make any changes or cancel the request.

Why do I keep seeing the status as "submitted" after I have submitted my account closure request?

When you submit the request to close your account, you must choose to either liquidate assets and transfer out the cash or transfer the assets in kind to another brokerage account. If you choose to liquidate, we will begin processing the necessary sell orders. Depending on any pending rebalancing, this process may take up to 8 business days for the cash to fully settle and be ready for withdrawal. Once the funds settle, they will be sent to the external account you specified, and the account will close. If you opt to transfer in-kind, the process will start as soon as all pending trades settle and may take up to 7 business days. Once the assets are transferred out, your account will be closed. Additionally, if you are transferring assets to a third-party brokerage, you will need to initiate the transfer request on your third-party brokerage’s platform after being notified that the fractional share trades have been successfully sold.

What should I do if my withdrawal fails?

If your withdrawal attempt fails, you should visit the 'History' tab on your account page to review the transfer records. Locate the failed transfer record and click on 'Retry'. Within the ‘Retry’ option, you will be able to modify the withdrawal amount before resubmitting your request.

Account Closure

When closing your advisor account, you can:

• Sell all positions and withdraw funds to your linked bank account
• Transfer funds to another Webull account instead of withdrawing to your bank
• Transfer assets out to another Webull account or external brokerage as part of the closure process

Transferring Funds During Account Closure

You can transfer assets from your advisor account either to another Webull account or to an external brokerage (via ACAT) during the account closure process.

App:

1. Switch to your advisor account
2. Tap Close My Account under the Actions tab
3. Select Transfer Out.
4. Choose either Internal Webull Account or Other Broker

For ACAT transfers, you must go through all confirmation screens and tap Acknowledge on the Reminder for transfer to external brokerage account pop-up.