Updated: Aug 18, 2022
I hope all is well, and you and your family continue to stay safe and healthy!
I am writing to let you know about upcoming changes to our back-end billing process. I was recently informed by LPL Financial that these changes will occur in mid-May 2022. You should have received a message in your December 2021 statement that details this billing fee structure change.
Please note, your fee isn’t changing. However, the way the fee is structured in our back-end systems will be changing, and as a result, your statements will look slightly different.
Here’s what the changes will involve:
In the past, you only had one fee on your statement that bundled the advisor and management fees together. After the change, you will see both of these fees listed on your statement –
Advisory fee, which is made up of:
Advisor fee – What I personally charge to manage your assets and provide you ongoing advice and planning services.
Administrative fees – What LPL Financial charges for the program I use to manage your assets.
Manager fee, which goes to the money manager of your account (if applicable) and covers their costs to manage the portfolio allocation, the ongoing monitoring of the investments, and any needed rebalancing.
We believe this change to the fees in the back-end will result in a structure that is overall more transparent and easier to understand. In addition, it will give us more flexibility to move you into new or different programs over time if needed in response to your changing goals or the economic environment.
If you have any questions regarding this change or need further clarification, please feel free to call or write. Thank you for your ongoing trust and business.
Have a friend, co-worker, or family member who recently shared about retiring, changing jobs, needing a financial plan, investment review, or 401(k) rollover? We offer a complimentary consultation for anyone you think could benefit from our services.
David J. Blount
CERTIFIED FINANCIAL PLANNER ™ | Investment & Insurance Planning Services, LLC
Cell: 407.719.0940 | Direct Office: 407.542.3249
261 Plaza Dr. Suite B, Oviedo, FL 32765
For service call the office, or email: firstname.lastname@example.org
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