LPL Ticket Charges

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May 6, 2008 11:42 am

Was reading an article last night with LPL's CEO Mark Casady.  He says that they are reducing ticket charges to the tune of 60% of mf's will be free 20% at 4.50, and 20% at 26.50. 

 
Since I pay 25-30 a pop here at RJ I'm a little curious to see the details of this program.  Anyone  care to elaborate?   
May 6, 2008 1:25 pm

Those numbers are in the SAM (fee-based) platform...I can't tell you what they are in the brokerage platform as I do very little of those...mostly go direct on the retail side.

 
As far as 60/20/20 goes, that depends upon your preferences.  The $26.50/ticket on the SAM side is mostly no-loads, so if you do a lot of those, vs load waived, you may be paying $26.50 a lot more than 20% of the time.
May 6, 2008 11:43 pm

There are about 8 fund families on the brokerage side that you pay no ticket charges on and another 20 families you pay $10 ticket charge to purchase.  The rest of the loaded funds are $23 ticket charge.  You pay no ticket charge to exchange any load fund and there is no ticket charges on DCA's in an existing fund.

 
Hope that helps some!
May 9, 2008 8:24 am

thank you road hard. those numbers sound very good for a guy about to go with lpl.

May 22, 2008 3:40 pm

Anyone know what the SAM admin fee is?

May 22, 2008 5:02 pm
Don't forget to add the $5 confirm fee.
 
That's why I do over 90% of my MF trades directly w/ the MF companies. 
No nagging fees, no confirm fee, no T+3, so check goes out next day from fund company to client, they keep track of the breakpoint discounts, & love the  stack of quarterly statements.