Fees Charged by Third Parties. Third parties (merchants, financial institutions, etc.) involved in processing an Electronic Funds Transfer may assess additional transaction fees for transactions made at their terminals or machines. These fees may be included in the total transaction amount that is withdrawn from your account and shown on your East West Bank account statement.
Fees Charged by Third Parties. There are other fees and charges that are imposed by third parties other than LPL that apply to investments in XXX accounts. Some of these fees and charges are described below. If a client’s assets are invested in mutual funds or other pooled investment products, clients should be aware that there will be two layers of advisory fees and expenses for those assets. Client will pay an advisory fee to the fund manager and other expenses as a shareholder of the fund. Client will also pay LPL and IAR the Account Fee with respect to those assets. Most of the mutual funds available in the program may be purchased directly. Therefore, clients could generally avoid the second layer of fees by not using the advisory services of LPL and IAR and by making their own decisions regarding the investment. If client transfers into a XXX account a previously purchased mutual fund, and there is an applicable contingent deferred sales charge on the fund, client will pay that charge when the mutual fund is sold. If the account is invested in a mutual fund that charges a fee if a redemption is made within a specific time period after the investment, client will be charged a redemption fee. If a mutual fund has a frequent trading policy, the policy can limit a client’s transactions in shares of the fund (e.g., for rebalancing, liquidations, deposits or tax harvesting). Although LPL makes available to be purchased in XXX accounts only no-load and load-waived mutual funds, LPL receives asset based sales charges or service fees (e.g., 12b-1 fees) from certain mutual funds with respect to accounts that are not retirement accounts. A retirement account for purposes of this Brochure is an account held by an ERISA plan or an account otherwise subject to Section 4975 of the Internal Revenue Code (e.g., an individual retirement account or XXX). Some mutual funds make available share classes that do not pay 12b-1 fees (e.g., institutional share classes) only if a client’s holding meets a certain asset minimum. LPL may share a portion of the 12b-1 fees with IARs to reduce LPL’s administrative fee for non-retirement accounts. The receipt of 12b-1 fees presents a conflict of interest because it gives LPL and its IARs an incentive to recommend mutual funds for non-retirement accounts based on the compensation received rather than on a client’s needs. LPL addresses this conflict for non-retirement accounts in XXX by disclosure and by using the fees it receives from mutual funds to reduce its tra...
Fees Charged by Third Parties. Depending on the nature of the securities or products purchased or sold in your investment account, you may pay other fees or expenses to third parties. For portfolios invested in ETFs or Private Investment Vehicles, issuers of the ETFs or Private Investment Vehicles may have embedded expenses and other fees, including those relating to management, brokerage, legal, accounting, or custody. Similarly, for portfolios invested in Private Investment Vehicles which themselves invest in other fund investments, all fees, expenses, and amounts that are allocated to the Private Investment Vehicle as a direct or indirect investor in underlying fund investments, including investment management and performance fees charged by their respective investment managers, are borne directly or indirectly by the Private Investment Vehicles. Such fees, expenses and amounts are set out in the relevant constating documents and/or offering documents of the underlying fund investments. The MER fee is charged by the underlying fund companies in your portfolio. The range of MER fees across our portfolios, which may vary from time to time], is available on our website at xxxxx://xxxx.xxxxxxxxxxxx.xxx/hc/en-ca/articles/360056584334-Wealthsimple-Invest-management-expense- ratio-MER-fees. Since it is not charged by Wealthsimple, it will not be deducted directly from your Wealthsimple account but will be an adjustment to the prices of your ETFs. We attempt to negotiate MER fee rebates with third-party investment fund managers in respect of non-Wealthsimple ETFs, and when successful, we share the benefit of such rebates with you by adjusting the price of the applicable ETFs. When your portfolio is invested in Wealthsimple ETFs, such as those found in an SRI portfolio, Wealthsimple will benefit by receiving a portion of the MER fees for those ETFs. Please note: Wealthsimple will not be responsible for any fees or costs charged by a manager of an investment fund, such as an ETF, that Wealthsimple invests in on your behalf. Such fees or costs will be paid, directly or indirectly, from the applicable account pursuant to the terms of investment of each applicable investment fund. Currency Conversion Fees You are charged a forty (40) basis point (0.4%) currency conversion fee by Wealthsimple Investments Inc., an affiliate and the custodian of your account, on the applicable corporate exchange rate where we need to buy or sell foreign currency to trade securities in your account. Here is a hypothe...
