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REG BI Fee Disclosure

Stocks, Bonds, CDs, and ETFs

(Note: Not Required for advisory account transactions.)

Equities (common stock, preferred stock) –

  • The commission you pay your Financial Professional when you purchase stock typically ranges from $40 to 5% of purchase amount
  • The commission you pay your Financial Professional when you sell stock typically ranges from $40 to 5% of the sales proceeds
  • The clearing charges you pay to buy a stock range from $4.00 to $4.25 per transaction
  • The clearing charges you pay to sell a stock range from $4.00 to $4.25 per transaction

Bonds (Corporate, Government, Municipal) –

  • The commission or mark-up you pay your Financial Professional when you purchase a bond typically ranges from $65 to 2.5% of face value
  • The commission or mark-down you pay your Financial Professional when you sell a bond typically ranges from $65 to 2.5% of face value
  • The clearing charges you pay to buy a Bond range from $4.00 to $4.25 per transaction
  • The clearing charges you pay to sell a Bond range from $4.00 to $4.25 per transaction

Certificate of Deposit (CD)

  • The commission you pay your Financial Professional when you purchase a CD typically ranges from $65 to 2.5% of face value
  • The commission you pay your Financial Professional when you sell a CD typically ranges from $65 to 2.5% of face value
  • The clearing charges you pay to buy a CD range from $4.00 to $4.25 per transaction
  • The clearing charges you pay to sell a CD range from $4.00 to $4.25 per transaction

Exchange-Traded Fund (ETF)

  • The commission you pay your Financial Professional when you purchase an ETF typically ranges from $40 to 5% of purchase amount
  • The commission you pay your Financial Professional when you sell an ETF typically ranges from $40 to 5% of sales proceeds
  • The clearing charges you pay to buy an ETF range from $0 to $4.25 per transaction
  • The clearing charges you pay to sell an ETF range from $0 to $4.25 per transaction

NOTE: A reasonable expense ratio for an actively managed ETF portfolio is about .49% to .57%. For passive or index funds, the typical ratio is about .02% to.06% .

The expense ratio is the annual fee that all exchange-traded funds charge their shareholders. It expresses the percentage of assets deducted each fiscal year for fund expenses, including 12b-1 fees, management fees, administrative fees, operating costs, and all other asset-based costs incurred by the fund