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LPL Ticket Charges

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May 6, 2008 3:42 pm

Dark Knight

Joined: 2008-01-30Offline

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 5:25 pm

Indyone

Joined: 2005-05-31Offline

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 7, 2008 3:43 am

Roadhard

Joined: 2007-02-23Offline

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 12:24 pm

jmoney

Joined: 2007-11-03Offline

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

May 22, 2008 7:40 pm

Monkey

Joined: 2008-05-22Offline

Anyone know what the SAM admin fee is?

May 22, 2008 9:02 pm

WestH

Joined: 2008-03-29Offline
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.