BlackRock Managed Income will be subject to a 0.50% charge if liquidated within 18 months of purchase. Discuss with your clients whether breakpoint discounts are available before they buy mutual fund shares. Investors should discuss their specific situation with their financial professional. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. INVESCO STEELPATH MLP INCOME FUND CLASS A - Insider Fund payments to Nationwide Align your investment choices with your personal values. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. 3 NAV purchases on most equity and multi-asset funds will be subject to a 1.00% charge if liquidated within 18 months of purchase.4The following reallowance/placement fee to dealers will apply to mostMulti-Asset Funds:1.00% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above;BlackRock Balanced Capital / BlackRock Multi-Asset Income / BlackRock Dynamic High Income:0.75% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above;BlackRock Tactical Opportunities:0.75% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above;BlackRock Global Allocation:1.00% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above;BlackRock Managed Income:0.50% on $250,000 to $2,999,999, 0.25% on $3,000,000 to $14,999,999, 0.15% on $15,000,000 and above. MainGate MLP Fund Class A. In cases where the Distributor acts as a dealer, it will not receive a placement fee on NAV purchases of more than $1 million of Investor A Shares. PDF Breakpoints and Sales - POPLAR FOREST FUNDS - Poplar Forest Funds Only available to clients of certain intermediaries as defined in the latest program disclosure document which can be foundhere. When you invest with us for your financial future, you also invest in the future of others. Class A share pricing by type of fund (See reverse side for list of MFS funds) . As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks. Special statement of intention rules apply to shareholders investing by payroll deduction. There are no up-front sales charges for Class I or Class R Shares. Mutual funds pool the money of many investors, who buy shares of the funds, to purchase a range of securities to meet specified objectives, such as growth, income or both. They are Mutual Fund Breakpoints: A Break Worth Taking and Understanding Mutual Fund Classes. In addition to issuing Investor Alerts, FINRA has developed a Fund Analyzer that may help investors choose the right mutual fund share class in order to minimize fees. As a result, FINRA has taken a number of steps to ensure that investors who did not receive appropriate discounts are able to obtain a refund and that in the future investors will receive all discounts to which they are entitled. as at 31 December 2022. The Fund's objective is to provide capital appreciation by investing, under normal circumstances, at least 70% of its net assets in equity securities believed to have the potential for capital appreciation, without regard to whether they could be described as "growth" or "value" and investing in a range . 4. Firms often adjust the percentage of GDC paid to the salesperson as a way of rewarding total production. If you choose to buy Investor A shares, generally a sales charge is paid at the time of purchase. assets under management. Please see the funds prospectuses for more information. Breakpoints | FINRA.org The minimum investment requirement may be waived if the investor has an aggregate investment in the American Century family of funds of $10 million or more ($5 million for endowments and foundations). 5. Investment advisory services focused on the unique needs of individual retirees, retirement plans, and their participants offered by Transamerica Retirement Advisors, LLC, a . May be lower on funds that have set a lower breakpoint for purchasing Investor A shares without a front-end sales charge. The fund's prospectus or summary prospectus, which can be obtained by calling 1.800.345.2021, contains this and other information about the fund, and should be read carefully before investing. Despite its struggles in the first half of 2022, American Century Sustainable Equity remains a respectable option among sustainable core equity funds. It also includes trust programs and trust services offered by Nationwide Trust Company, FSB. 12.50. A 0.75% up-front dealer concession; A 1.00% CDSC for 12 months; A 0.75% trail that begins after the 12th month and is paid monthly; Report a concern about FINRA at 888-700-0028, Securities Industry Essentials Exam (SIE), Financial Industry Networking Directory (FIND), Breakpoint Checklist and Breakpoint Worksheet, Status Report: Implementation of Recommendations of Joint NASD/Industry Breakpoint Task Force, Report of the Joint NASD/Industry Task Force on Breakpoints, Common Definitions Mutual Funds Should Use to Describe Breakpoint Discount Rules, Customer Letters About Breakpoint Refunds, Frequently Asked Questions about Breakpoints, Task Force Recommendations for New Confirmation Content, FINRA Sanctions Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions and Related Supervisory Failures, FINRA Sanctions 12 Firms a Total of $6.7 Million for Failing to Apply Sales Charge Discounts to Customers' Purchases of UITs, FINRA Fines Wells Fargo $2 Million for Unsuitable Sales of Reverse Convertibles to Elderly Customers and Failure to Provide Breakpoints on UIT Sales, Merrill Lynch to Pay More Than $2.5 Million Related to UIT Sales Charge Discount Failures, FINRA Fines 25 Firms More Than $2.1 Million for Failures in Mutual Fund Breakpoint Review, Other Violations, FINRA Fines Robert W. Baird & Co. $500,000 for Fee-Based Account, Breakpoint Violations, FINRA Fines Oppenheimer $1 Million to Settle Charges that It Produced Flawed, Incomplete and Untimely Data in Breakpoint Self-Assessment, Report of the Joint FINRA/Industry Task Force on Breakpoints. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained visiting the iShares ETF and BlackRock Mutual Fund prospectus pages. Contingent Deferred Sales Charge (CDSC): A contingent deferred sales charge (CDSC) is a fee (sales charge or load) that mutual fund investors pay when selling Class-B fund shares within a . If you have additional questions, please call 800-847-0200 to speak with a shareholder representative. FINRA IS A REGISTERED TRADEMARK OF THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FINRA operates the largest securities dispute resolution forum in the United States, To report on abuse or fraud in the industry. To learn more about FINRA breakpoints initiatives, please see our Mutual Fund Breakpoints Web page. Nationwide Securities, LLC Information provided in, and presentation of, this document are for informational and educational . The Task Force was convened in Jan. 2003, at the request of the SEC, followed NASD's examination findings and issuance of Special Notice to Members 02-85, dated Dec. 23, 2002, which reminded broker/dealers of their obligation to apply correctly breakpoint discounts to front-end sales load mutual fund transactions. This tool allows you to look up breakpoint schedules and linkage rules for mutual funds with sales charges to ensure discounts are given where applicable. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. California Privacy Rights Act Here you can find resources for mutual fund purchases, including information on sales charges, reductions or sales charge waivers, dealer commissions, and more. Davidson & Co. ("DAD"), will receive all of the initial sales charge for purchases of Class A shares of the Fund without a dealer of record. I consult or invest on behalf of a financial institution. Some investment firms request accounts to be set up as street name or nominee accounts. Nationwide Funds are distributed by Nationwide Fund Distributors, LLC, Member FINRA, Columbus, OH. The dealer reallowance indicated will apply up to the indicated breakpoint (so that, for example, a sale of $4 million worth of Investor A Shares in an equity fund will result in a placement fee of 1.00% on the first $3 million and 0.50% on the final $1 million). The investment levels at which the discounts become available are called "breakpoints." When your initial mutual fund investment exceeds a specified amount, or breakpoint, you may qualify for a volume discount. Capital Group Lowers Fees on 18 Funds - PR Newswire When a sponsor selects another prototype of an IRA Model Agreement, some of the contributions may come to American Funds, but the participants are not required to establish an account with American Funds. 1 For purchases under $500,000, the 0.25% trail is effective immediately. Please refer to our Risk Disclosure Statement. An investor may sign a Letter of Intent (LOI), which allows the investor to receive breakpoint discounts based upon a commitment to buy a specified number of mutual fund shares over a period of time, usually 13 months. The initial sales charge can be reduced or eliminated through one or a combination of the following: a Letter of Intent, the Right of Accumulation or the reinstatement privilege.9 A contingent deferred sales charge of 1.00% is assessed on certain withdrawals of investments in Class A Units made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more. Commodity interest trading involves substantial risk of loss. Record this information in each investor's files so that future purchases of this fund may result in additional breakpoint discounts. Short-selling entails special risks. 84% of retail investor accounts lose money when trading CFDs with this provider. NAV purchases at specified breakpoints on BlackRock fixed income funds may be subject to a CDSC if liquidated within 9 months of purchase as follows: Short-Term Municipal: 0.25%. The dealer reallowance indicated will apply up to the indicated breakpoint (so that, for example, a sale of $4 million worth of Investor A Shares in an equity fund will result in a placement fee of 1.00% on the first $3 million and 0.50% on the final $1 million). You can help your clients assess their opportunities to receive breakpoint discounts by taking the following steps: FINRA provides an outline for training associated persons involved in the sale of Class A shares of front-end load mutual funds. In this regard, you should review the fund's prospectus and Statement of Additional Information, which should provide a detailed description of its breakpoint eligibility criteria. Aquila Opportunity Growth Fund - Aquila Group of Funds *$250K NAV Breakpoints are not applicable to CollegeAdvantage 529. Clients can be anxious, have productive conversations. 7. American Century Investments also may waive the minimum initial investment in other situations it deems appropriate. Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately. As of November 23, 2020 (the "Effective Date"), certain financial intermediaries, may not have been tracking such holding periods and therefore may not be able to process such conversions. . Sales charge information for this fund is included in the table showing funds that have a 2.50% maximum sales charge. In the process of conducting routine firm examinations in 2002, NASD identified problems in mutual fund transactions, in which eligible customers did not always receive their entitled breakpoints. Breakpoints/Volume Discounts and Sales Charge Waivers (Partners Fund and Cornerstone Fund) Reducing Your Sales Charge. Download Prospectus Mutual Fund or Exchange Traded Fund (ETF). Investing involves risk, including possible loss of principal. Reducing Sales Charges on Class A, 529-A & ABLE-A, Sales charges and breakpoints for Class A shares, Sales charges and breakpoints for Class 529-A and ABLE-A shares, American Funds U.S. Government Money Market Fund, Sign up for paperless delivery of documents. Equity Funds 1 Fixed Income Schedule I 3 Fixed Income Schedule II 4 Other Fees & Charges - Equity and Fixed Income Description and Amount 12b-1 fee 6 : 0.25% The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility. Yet Another Mutual Fund Fee Issue or "Death by a Thousand Cuts": FINRA Fidelity and its representatives may have a conflict of interest in the products or services mentioned in these materials because they have a financial interest in them, and receive compensation, directly or indirectly, in connection with the management, distribution, and /or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. Investor A SharesPurchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately. The following reallowance/placement fee to dealers will apply to most, Tax-Free Fixed Income Funds (Please see exception below for Short-Term Municipal), All Equity, Multi-Asset and Fixed Income Funds*, Equity Goal Based and Target Date (Excluding BlackRock College 2020 Option and BlackRock College Enrollment Option), Fixed Income Funds and BlackRock 2020 Enrollment Option. Fidelity Institutional Asset Management (FIAM) investment management services and products are managed by the Fidelity Investments companies of FIAM LLC, a U.S. registered investment adviser, or Fidelity Institutional Asset Management Trust Company, a New Hampshire trust company. Fidelity Advisor Funds Daily Pricing & Returns | Fidelity Institutional The fund uses a balanced approach to invest in a broad range of securities, including common stocks and investment-grade bonds. If the person(s) who established the trust is deceased, the primary beneficiary can combine accounts. DST Vision is an interactive website that allows financial intermediaries such as broker-dealers and financial advisors to view fund, shareowner account, and dealer information. The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. Lower breakpoints expected to save over $20 million for investors in first year. Investments made at or above the $1 million breakpoint become eligible for ongoing service fees after the assets are held for at least one year. The use of the term "advisor(s)" throughout this site shall refer to both investment advisors and broker dealers as a collective term. 6. They are Mutual Fund Breakpoints: A Break Worth Taking and Understanding Mutual Fund Classes. To determine whether an LOI is appropriate for a particular client, you should discuss your client's investing plans for the coming 13-month period and examine his or her recent purchases. FINRA, OGC The extent of the discount depends on the amount invested in a particular family of funds. FIAM products and services may be presented by FDC LLC, a non-exclusive financial intermediary affiliated with FIAM and compensated for such services. capitalization of less than $2 billion). Endowments or foundations established and controlled by the investor or immediate family member, CollegeAmerica accounts, which will be aggregated at the account owner level (except Class 529-E accounts, which may only be aggregated with an eligible employer plan). A contingent deferred sales charge of .50% may be imposed, however, on redemptions made . When considering their obligations to provide all available breakpoint discounts on sales of Class A shares of front-end load mutual funds, member firms may review the following Breakpoint Checklist and Breakpoint Worksheet, which may help member firms evaluate their breakpoint compliance programs and confirm whether they are capturing all relevant categories of information to provide customers all available breakpoint discounts. 06/23/2005 5.50: 0.95 9.28: 12.87-14.12: 13.23: 9.32: 12.03: Invesco Capital Appreciation Fund 1, 1. Any adjustments will be reflected in an Account Confirmation and may result in corrected tax forms. Before investing in any state's 529 plan, investors should consult a tax advisor. The initial sales charge can be reduced or eliminated through one or a combination of the following: a Letter of Intent, the Right of Accumulation or the reinstatement privilege. If you redeem Investor A or Institutional shares and within 90 days buy new Investor A Shares of the same or another fund, you will not pay a sales charge on the new purchase amount. Class C Shares Purchases and maximum account value up to $249,999 for Target Risk, Tax-Advantaged Fixed Income Funds, MFS Global Total Return Fund and MFS Total Return Fund; $499,999 for Fixed Income, MFS Lifetime Income and Limited Maturity Fund; and $999,999 for Equity, Target Date and Multi-Asset Funds. Contingent deferred sales charge Small Business Retirement Plans include Business IRAs (SIMPLE, SEP and SARSEP), and Employer-sponsored retirement plans held in brokerage accounts whether a single account for all plan participants with the Fund or multiple accounts for each plan participant. Returns without sales charges would be lower if the sales charges were included. MainGate MLP Fund Class I. To learn more about sales charge waivers and/or discounts for Class A/A1 shares, click on the 'Quantity Discounts' tab above. We have issued two Investor Alerts that discuss mutual fund breakpoints. Exceptions: GNMA, Systematic ESG Bond, and U.S. Government Bond: 0.50% on $1,000,000 to $2,999,999, 0.25% on $3,000,000 to $14,999,999, 0.15% on $15,000,000+; Global Long/Short Credit Fund: 1.00% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+; Inflation Protected Bond: 0.15% on $1,000,000 to $2,999,999, 0.10% on $3,000,000 to $14,999,999, 0.05% on $15,000,000+; Emerging Markets Flexible Dynamic Bond: 1.00% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+; Floating Rate Income, Low Duration, Income Fund and Strategic Income Opportunities: 0.75% on $500,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+; Tax-free fixed income funds (except for Short-Term Municipal): 1.00% on $250,000 to $3,999,999, 0.50% on $4,000,000 to $9,999,999, 0.25% on $10,000,000+; Short-Term Municipal: 0.25% on $250,000+; Total Return Fund: 0.75% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+. If a mutual fund offers breakpoint discounts, the breakpoint schedule will be listed in the fund's prospectus and statement of additional information. American Legacy accounts established on or before March 31, 2007, can also be applied to qualify for a discount on Class A, 529-A and ABLE-A purchases. MFS FUND DISTRIBUTORS, INC., BOSTON, MA MFSB_PRICE . PDF MFS Flexible Pricing Options A contingent deferred sales charge of 1.00% may be imposed, however, on redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. An LOI allows investors to receive breakpoint discounts based on a commitment to buy a specified number of shares over a period of time, usually 13 months. Please see the statement of additional information for details. document.write(new Date().getFullYear()) Nationwide Mutual Insurance Company and affiliated companies, Privacy Information provided in, and presentation of, this document are for informational and educational purposes only and are not a recommendation to take any particular action, or any action at all, nor an offer or solicitation to buy or sell any securities or services presented. Fidelity does not provide legal or tax advice. This includes accounts held directly with American Century and those held through a financial intermediary. If the fund makes short sales in securities that increase in value, the fund will lose value. 2 Listed are the front-end sales loads reallowed to dealers as a percentage of the offering price of certain of the funds Non Money Market Investor A Shares. Does not include Class A shares of fixed-income funds. Read the prospectus carefully before investing. Mutual Funds - JanneyCom The Joint NASD/Industry Task Force recommended two changes to mutual fund confirmations that are intended to help investors determine whether they received all the breakpoints discounts to which they were entitled on each mutual fund transaction. Where can I find information to help educate my clients about breakpoint discounts? The following tables show how sales charges of class A shares vary across funds based on investment levels. Sales Charges & Breakpoints | Fidelity Institutional Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. I shares are for individual investors with $2,500,000 or for wrap or fee-based advisory programs as specified by the wrap programs provider. Series 6: Investment Companies (Buying Mutual Fund Shares) - Quizlet call +44 2030978888 support@capital.com, CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You can add the value of any American Funds share class that you already own to new Class A, 529-A and ABLE-A share purchases in order to qualify for a reduced sales charge. File a complaint about fraud or unfair practices. Discuss the availability of breakpoint discounts with your clients prior to purchasing the mutual fund shares. Since American Funds Service Company has little or no access to certain nominee or street name account information, we are generally unable to aggregate those accounts. All rights reserved. The F1 share class of . Fixed income risks include interest-rate and credit risk. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. First Trust - www.FTPortfolios.com Investor C SharesPurchased with no initial sales charge to your clients but have higher ongoing fees. PDF Goldman Sachs Funds Pricing Guide and Fund Summary - GSAM Sales charge. Below you'll find the sales charges and breakpoints for funds with Class A/A1 and Class C/C1 shares offered by Franklin Distributors, LLC. This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. *American Legacy accounts established on or before March 31, 2007, may count toward a statement of intention. $1000.0000. Net Asset Value (NAV) Purchases Subject to Dealer Concessions: Dealers receive concessions on Class A share purchases made within a 12-month period beginning with the first NAV purchase under the following circumstances: Purchase of $250,000 or more of Funds in Table C, $500,000 or more of Funds in Table B or $1,000,000 or more in Table A. If the particular fund family bases its breakpoint eligibility on different classes of shares that an investor may have purchased, then you have to take into account such purchases when calculating the applicable breakpoint discounts. * Effective January 16, 2018, BlackRock Total Return (Investor A) shares sold in amounts of $250,000 or more will be sold at net asset value, subject to a 0.75% CDSC if those shares are redeemed within 18 months of purchase. Share Classes & Loads | BlackRock Glossary | Terms & Condition | Privacy & Security. Aquila Opportunity Growth Fund is a diversified, open-end mutual fund. Life and annuity products are issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio. Refer to Statement of Additional Information for a list of retirement plan types. PDF Mutual Fund Share Classes and Compensation - Morgan Stanley What is Gross dealer concession | Capital.com Under $50,000. Investments are subject to market risk. These fees are paid over the life of the investment and you receive 1.00% immediately and an ongoing trail of 1.00% that begins in the 13th month, subject to certain broker/dealer payout policies.