Common use of Float Clause in Contracts

Float. As part of its brokerage services, LPL holds customer assets. Accordingly, LPL may receive compensation in the form of earnings on its investment of uninvested cash in Plan accounts. These earnings are generally known as "float." Cash in the account would typically result from contributions to the account or sales of securities in the account. LPL may also receive float on outstanding checks after they are issued by LPL to the Plan and before they are presented for payment. LPL retains float as additional compensation for its services.

Float. As part of its brokerage services, LPL holds customer assets. Accordingly, LPL may receive receives compensation in the form of earnings on its investment of uninvested cash in Plan accounts. These earnings are generally known as "float." Cash in the account would typically result from contributions to the account or sales of securities in the account. LPL may also receive receives float on outstanding checks after they are issued by LPL to the Plan and before they are presented for payment. LPL retains float as additional compensation for its services. LPL does not share this compensation with your Representative.