Thursday, April 23, 2015
Check your brokerage service and maintenance fees
NASAA research shows investor confusion over fees| . A new advisory from the North American Securities Administrators Association (NASAA) aims to help raise investor awareness about fees charged by broker-dealer firms for account services and maintenance. In the advisory, NASAA suggests investors focus on the timing, method and content of these sorts of fee disclosures. It calls on investors to not place assets with a firm without a current fee schedule, to ensure that they understand those fees, and to pay attention to any changes that firms make to those fees. Additionally, it says that investors should know the services that they could use regularly, and ask specifically about the terminology a firm uses for its services and the associated fees. http://www.nasaa.org/35290/informed-investor-advisory-understanding-broker-dealer-fees/ Full Report Are you an informed investor? Understanding Broker-Dealer Fees available at http://www.nasaa.org/wp-content/uploads/2015/04/BD-Fee-Advisory.pdf Fees impact returns- make sure you know what fees you are paying and that you receive the services associated with the fees.Don't hesitate to ask about seniors rebates, asset-based discounts etc. -It's your money.