Does every firm assess these on every stock or mutual fund transaction? What gets me is when I do a fund swap within say American Funds, I generate zero revenue but it costs me that ticket charge. It’s a small charge but man do they add up during the month.Comments?
Edward Jones: $4.95 flat for every commissioned transaction (not CD’s and certain other products). Client pays.We don't have any ticket charges on exchanges/swaps. That seems absurd. No ticket charges in our advisory accounts.
Yeah we know, Jones doesn’t have ticket charges… I think he was referring to indys…We don't have ticket charges on exchanges(switch between same fund companies) but on everything else we do, unless they are part of the list that waives them on trasactions larger than $1k..
National has a list of non transaction fee funds-which is most of the no load big names out there like Fidelity, Vanguard, etc.otherwise every fund has a ticket charge through my clearing firm, even exchanges (although a reduced amount). most fee based accounts have none obviously, but some do.
RJ never charges more of a ticket charge than the gross rev., so you never lose money.