LPL Ticket Charges

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Dark Knight's picture
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Joined: 2008-01-30

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?   

Indyone's picture
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Joined: 2005-05-30

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.

Roadhard's picture
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Joined: 2007-02-23

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!

jmoney's picture
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Joined: 2007-11-03

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

Monkey's picture
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Joined: 2008-05-22

Anyone know what the SAM admin fee is?

WestH's picture
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Joined: 2008-03-29

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.

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