Service |
Fee |
Comments |
Annual
Subscription |
$145 |
Allows participation in 12 MyFundBuilder stock purchase cycles, one cycle
per month, for one year. The member pays the subscription fee through
a debit from his/her checking or savings account before the brokerage
account is activated. |
Account
Types |
|
Several
account types are available: Individual,
Joint, Custodial,
Partnership, Investment Club,
Corporate and Trust
. The member may open multiple accounts. These will be
maintained separately and an annual subscription fee is required for each. |
Opening
an Account |
No
Charge |
Option
1: Members may complete the forms needed to open an account on the
web then print, sign and mail the forms to MyStockFund Securities.
Option 2: Members may complete the forms on the web and request that
a MyStockFund Securities representative print and send them for the
member's signature. The member needs to return the signed forms to
MyStockFund Securities. |
MyFundBuilderSM
|
No
Charge |
The
minimum investment per stock, per monthly purchase cycle is $10. Members
may invest in as many of the companies on the stock list as they want.
There is no maximum investment amount. |
Dividend
Reinvestment |
No
Charge |
The
member may instruct MyStockFund to automatically reinvest dividends
issued by a company into that company's stock, or to deposit dividends issued
into his or her MyStockFund cash account. This selection is made on an
account-by-account basis, not on a company-by-company basis. |
Investment
Funding |
No
Charge |
MyStockFund
draws from the member's bank or credit union checking or savings account
to fund stock purchases. The amount withdrawn each month is altered
only when needed to account for any changes the member has made
to his or her MyFundBuilder selections. |
Brokerage Account
TransferIn (Electronic) |
No
Charge |
Members
can send in an Account Transfer instruction form to electronically transfer in
securities from another brokerage account. Securities transferred into MyStockFund
will be eligible for dividend reinvestment. |
Account
TransferOut (Electronic) |
$50/occurrence |
MyStockFund
can electronically transfer securities to another brokerage account.
Fractional shares cannot be transferred, so that portion of any holdings
is liquidated and the proceeds are deposited in the member's cash
account. The member initiates this transaction by contacting the
new broker. |
Certificate
TransferIn |
No
Charge |
Members
can send a form and certificates to MyStockFund Securities to transfer
these holdings into his or her MyStockFund account. Certificates transferred into MyStockFund
will be eligible for dividend reinvestment.
|
Certificate
Reject |
$35 + transfer agent costs |
Certificates rejected due to securities deemed ineligible because of transfer restrictions will be returned.
|
Certificate
Issuance & Delivery |
$25/certificate |
MyStockFund
charges a fee to issue and deliver certificates via registered mail.
Certificates cannot be issued for fractional shares. That portion
of the holdings will be liquidated for cash and the proceeds deposited
in the member's cash account. |
Legal
Change of Ownership |
$50/stock transfer |
This
feature allows members to transfer ownership to someone else, as
when giving a gift of shares. |
Cash
Disbursement |
ACH - No charge Check-$5/request, Wire - $25/request |
Members
can request a portion or all of the account cash balance (made out and
sent to the account holder only). |
Cash Account |
No
Charge |
Members with a cash balance will have it moved to an insured deposit account and be paid a rate of interest, which may fluctuate daily depending on market conditions. (current Legent Insured Deposit interest rate)
|
Sell |
$18 per trade |
Members can sell whole shares or an entire stock holding. ORDERS MUST BE ENTERED INTO THE SYSTEM DURING MARKET HOURS, MONDAY-FRIDAY, 9:30AM - 4:00PM ET, EXCEPT HOLIDAYS. |
Returned
Check |
$25
|
MyStockFund
charges a fee if a member's check is returned for any reason. |
Returned
ACH |
$25
|
MyStockFund
charges a fee if a member's ACH is returned for any reason. |
Confirmation
Statements |
No
Charge |
There
is no charge for paper confirmations. |
Account
Statements |
No
Charge |
There
is no charge for paper statements. |
Previous
Statements |
Electronic - No
Charge, Paper - $20 |
Members
will have access to 13 months of electronically archived statements. |
Brokerage
Services |
No
Charge |
There
is no charge to receive information regarding dividends, splits, corporate
actions (e.g., mergers & acquisitions), tax reporting (1099), shareholder
communications, proxies, tender offers, etc. |
Close
Account - Transfer all Stock |
$50 plus $50
transfer fee |
Members
pay a fee to close accounts and transfer stock to another firm. There
is no charge for fractional share liquidation. |
Close
Account - Sell and Liquidate All Stocks |
$50 |
Members
will be able to close their accounts and liquidate all of their holdings
to cash. |
Close
Account - Certificate Stocks |
$50
+ $25/certificate |
Members
will be able to close their accounts and receive certificates via
registered mail. Certificates cannot be issued for
fractional shares. That portion of the holdings will be liquidated
and paid by check. |
Broker Assisted Buys |
$18 per trade |
Members can buy whole shares based on amount of cash on deposit. ORDERS MUST BE PLACED VIA PHONE DURING MARKET HOURS, MONDAY-FRIDAY, 9:30AM - 4:00PM ET, EXCEPT HOLIDAYS. |