Schwab's Fee Disclosure
08/31/2011 0 comments
Have you ever wondered what fee your financial consultant or a representative from a discount brokerage makes after all of those conversations and product pitching? How about fees a brokerage makes for those mutual funds you buy?
We stumbled across the following page on Schwab website.
We applaude Schwab making such a disclosure transparent (though we doubt how many Schwab customers are aware of this page). Here is the page and excerpts:
Compensation and Advice Disclosures www.schwab.com
Schwab makes money from client fees, trading commissions, interest income and also from third-party or affiliate compensation. While we seek to minimize conflict of interest and act in our clients' interests, our sources of compensation may influence both how Schwab representatives give investment advice and how those representatives are paid.
We believe it is important to provide the following compensation disclosures to help clients and prospects make informed decisions about investing at Schwab:
These disclosures may change from time to time, and updates are published on this website as they are available. To view a summary of changes effective January 1, 2010, view the Representatives’ Compensation web page.
To obtain paper copies of these disclosures or any other Schwab disclosure document, please call 800-785-3965
Do you have fee information for other brokerages? Let us know and we will start to compile a page on brokerage fees.
Symbols: Schwab, brokerage fees, SCHW
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