LPL Financial Conversion
Frequently Asked Questions

The below provides answers to frequently asked questions about the transition from CUSO Financial Services (CFS) to LPL Financial. Learn what’s changing, what’s staying the same, and how the move affects your investment accounts, access, statements, and overall experience.

Table of Contents

• Introducing Account View 2.0: A Guided Walkthrough
• What is LPL?
• Why is Firehouse Financial moving to LPL following LPL’s acquisition of Atria/CFS?
• Did the credit union get bought out?
• What happens during the Blackout Period?
• What date will the change take place?
• When will my accounts transfer to LPL?
• What’s the impact to me (member)? What should I expect?
• What will this change mean for me? What’s the benefit of this partnership to me?
• What’s not changing?
• Does my relationship with you change?
• Will your move to LPL cost me anything?
• Is there anything I need to do regarding my account?
• Will I have to sign a new agreement with LPL?
• If my accounts move, will there be tax implications?
• If my accounts move, will my investments change?
• Will my fees change once I move to LPL?
• How do I access my accounts?
• Why did I receive multiple packets in the mail?
• Will I receive duplicate account statements?
• What happens with my tax statements for 2025?
• Is my money safe?
• Cyber Fraud Guarantee
• Why am I being asked to sign an additional form to link my accounts as a household?
• What if I have questions or need help with the new platform?

Questions & Answers

Introducing Account View 2.0: A Guided Walkthrough

We’re excited to introduce Account View 2.0, a new platform designed to help you manage your accounts with ease. From paperless statements to market insights, this tool provides a simple, streamlined way to access and track your financial information. View the video below to learn more.

What is LPL?

• LPL is the nation’s largest independent broker-dealer^*.
• LPL offers access to an impressive range of products, services, and resources to help us provide you with personalized service.
• By investing heavily in innovative technology and automation, LPL makes it easy for us to spend more time helping you pursue your financial goals.

Why is Firehouse Financial moving to LPL following LPL’s acquisition of Atria/CFS?

This move is part of our commitment to improving your financial planning experience. LPL Financial offers enhanced tools, a more intuitive digital platform, and increased self-service options that allow for a smoother, more personalized way to manage your investments. This switch allows us to better support you and your long-term goals.

Did the credit union get bought out?

No. Firefighters First Credit Union remains 100% member-owned. This change only affects the firm that supports your investment accounts. By partnering with LPL Financial, we’re enhancing the tools and resources available to support our office in managing your investments.

What happens during the Blackout Period?

Blackout Period: May 17, 2025 – May 23, 2025
During this brief period, access to your investment accounts through Online Banking will be temporarily unavailable. Don’t worry—your advisor remains available to support you and answer any questions.

What date will the change take place?

CFS will move to LPL officially on or about May 17th, 2025.

When will my accounts transfer to LPL?

• LPL will receive assets on May 17th, 2025.
• Please note you will be able to continue to conduct all of your business with us per usual during this entire timeframe.

What’s the impact to me (member)? What should I expect?

• This will not affect your relationship with us in any way. You can count on us to continue to provide the level of service you expect.
• Your fundamental investment strategy and allocations will remain the same for the most part. In some cases, LPL may have advanced investment options that we can discuss after your accounts move.
• Once LPL is the new broker/dealer, we may be reaching out to ask you to sign a new agreement with LPL. The process is relatively easy and can be done via electronic signature, or by paper if desired.

What will this change mean for me? What’s the benefit of this partnership to me?

As the nation’s largest independent broker-dealer, LPL offers innovative resources that enable us to continue providing you with personalized service, such as:

• Independent research, so we can continue to provide you with personalized financial guidance.
• Advanced technology platforms and back-office support that frees up our time to give you even more personalized service.

What’s not changing?

• How you log in to Online Banking.
• Your advisor and our commitment to your financial goals.
• Your core banking relationship with Firefighters First Credit Union.

Does my relationship with you change?

• We will work together as we always have.
• Our relationship will not change. We will continue to be your financial advisor and primary contact.
• The broker/dealer is changing to LPL Financial.

Will your move to LPL cost me anything?

There is no cost whatsoever to you.

Is there anything I need to do regarding my account?

• We would like to confirm your email address and get your approval to provide electronic communication.
• You may wish to consider receiving your statements electronically, or you may prefer to continue receiving your statements on paper in the mail. You will be able to make this choice upon the conversion date.

Will I have to sign a new agreement with LPL?

• Depending on the account type, you may be required to sign a new agreement with LPL.
• Once the accounts convert, you will be notified if you need to sign a new agreement.
• The process is relatively easy and can be done via electronic signature or by hard copy if desired.

If my accounts move, will there be tax implications?

There should be no tax implications with the movement of accounts. Your accounts will be transferred to comparable products at LPL. However, we would recommend you consult your tax professional for further information.

If my accounts move, will my investments change?

• Your fundamental investment strategy and allocations will remain the same for the most part.
• In some cases, LPL may have advanced investment options that we can discuss after your accounts move.

Will my fees change once I move to LPL?

• For existing advisory accounts moving to LPL, the overall advisory fee to the member will be the same as the current advisory fee.
• The Brokerage Fee Schedule will be provided in a future mailing you will receive and will apply to all brokerage accounts.

How do I access my accounts?

You will access your account information through Account View and we’ll share more information with you closer to the conversion date.

Why did I receive multiple packets in the mail?

Each account you hold (e.g., IRA, trust, joint, or individual accounts) required its own set of documents to ensure compliance and accuracy. This is why you may have received several packets.

Will I receive duplicate account statements?

Yes—for May 2025 only. In June, you will receive two sets of May statements: one from CFS and one from LPL. This is a one-time occurrence due to the transition. Moving forward, you’ll receive monthly statements from LPL only.

What happens with my tax statements for 2025?

You will receive two sets of tax documents for 2025:

• One from CFS (covering January–May 16).
• One from LPL (covering May 17–December).

Please keep both statements for your tax preparation.

Is my money safe?

• LPL has the same regulatory and protection requirements as we do.
• LPL is a Financial Industry Regulatory Authority (FINRA) member firm, subject to federal securities laws and the rules of industry self-regulatory organizations.
• LPL is a member of the Securities Investor Protection Corporation (SIPC) which provides account protection up to $500,000 per member, of which $250,000 may be claims for cash. An explanatory brochure is available at www.sipc.org.
• LPL purchases $1 billion of excess SIPC insurance that provides additional protection for LPL accounts to cover aggregate net equity (of all member accounts), subject to conditions and limitations. The account protection applies when an SIPC member firm fails financially and is unable to meet obligations to securities members, but it does not protect against losses from the rise and fall in the market value of investments.

Cyber Fraud Guarantee

LPL will reimburse you for 100% of realized losses in your impacted LPL accounts, which were incurred directly as a result of unauthorized access to an LPL system.

Why am I being asked to sign an additional form to link my accounts as a household?

Due to limitations from our previous system, we’re unable to carry over household account groupings automatically. As a result, our team will be reaching out to account holders individually to complete a new form, which allows us to properly link your accounts under a household in the new LPL platform.

What if I have questions or need help with the new platform?

We’re here to support you! Contact your advisor directly to schedule a 1-on-1 walkthrough.