LPL

Question 1

Account Guide

Answer 1

Question 2

Payout Comparison

Answer 2

Question 3

Additional Compensation

Answer 3

Question 4

Annual Advisor Fees

Answer 4

Question 5

Client Account Fees & Waivers

Answer 5

Question 6

What are the LPL Technoloy Fees?

Answer 6

• BranchNet, Steamlined Office, Enhanced Trading - $900 ($75/m per advisor, free for assistant)
• Portfolio Manager - $900 ($75/m per advisor, free for assistant)
• Portfolio Review Tool (PRT) - $420 ($35/m per advisor, free for assistant)
• eMoney (WealthVision) - $3,600 ($300/m per advisor)
• ASI Reblanancing Tool - $1,200 ($100/m per advisor)
• Representative Website - $1,200 ($100/m per advisor)
• Tech fees can be as high as $8,220 ($685/m advisor)

Question 7

What are the research costs at LPL?

Answer 7

• All costs are for the Office not the Advisor
• Online Research - $840 / yr
• Weekly & Monthly Hard Copy - $318 / yr
  
  • ​Can combine to $1,158 / yr
• ​S&P MarketScope Advisor
  
  • ​Stock Reports - $360 / yr
  • Bond Research - $360 / yr
  • Mutual Funds - $300 / yr
  • Stock & Mutual Funds - $540 / yr
  • Stock, Mutual Funds & MarketScope - $780 / yr
  • Stock, ETFs & MarketScope - $780 / yr
  • Stock, ETFs, Bond Research, Mutual Funds & Hypo/Holding Scan - $1,380 / yr

Question 8

What are some of the differences between LPL & RJ?

Answer 8

• They have 14,400 advisors with 2,500 home office staff so service levels have suffered.
• They are very a-la carte therefore advisors have to pay for everything they want.
• Advisors have said it feels like LPL will “nickel & dime” you for everything.
  
  • RJ has two line item charges to the advisor, E&O and Technology.

Question 9

How can advisors monitor prior NonTraded REIT business?

Answer 9

• RJFS advisors can subscribe to DST Vision
• Conitors prior investments even though we don’t allow new sales.
• Account aggregation with RJ may eliminate the need to use this software.