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*Custodian fee - A fee a brokerage or other financial institution charges for safekeeping services. Safekeeping or custody is a service in which the brokerage or financial institution holds securities on behalf of the client, which reduces the risk of the client losing his/her assets or having them stolen. They are also available to the brokerage to sell at the client's demand. Unlike a bank, custodians are not allowed to use the items in safekeeping for their own ends. Assets in custody are not fundable for the brokerage because they remain in the client's name.
 
As noted in our strategic partner piece, Pershing LLC our custodian and clearing agent applies the following custodian fees per account per year. 

IRA $35.00
     Mutual Fund only $10
Roth IRA $35.00    
     Mutual Fund only $10
Single, Joint, Trust & Business $35
     Mutual Fund only $10
  
Statement fee – Pershing LLC charges monthly statement fees of $0.75 per account, this fee is waived if client agrees to receive online statements.

Service & Confirmation charge – Pershing LLC charges a $2.00 service charge on all transactions, this fee cannot be absorbed by United Investment Group.

Custodian fee - Will be absorbed for all fee-based accounts and commission-based accounts that generate in excess of $300 in commissions or 12b-1 fees.

 


 
 
 Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

NOT FDIC-INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE BANK. MAY GO DOWN IN VALUE.

This communication is strictly intended for individuals residing in the state(s) of MN. No offers may be made or accepted from any resident outside the specific states referenced.
 


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