Monday, January 29, 2018

(MORE) Taxation without representation

Beginning or around March 19, 2018, TD Ameritrade will pass through the FINRA imposed trading activity fees on sell transactions. The Trading activity fee is based upon sell transactions for certain security types such as covered equities, options and bonds.

Your clients were notified via a message in their December 2017 statement and trade confirmations. The same message will also be included in their January 2018 statement and trade confirmations.

Going forward, this fee will a be included under the "Reg Fee" section of each trade confirmation, combined with any other applicable regulatory fees. It will also be reflected in the totals for "commissions and fees" on the TD Ameritrade website within transactions and order histories.

A breakdown of the fee is below:
    1. $0.000119 per share for each sale of a covered equity security, with a maximum charge of $5.95 per trade;

    2. $0.002 per contract for each sale of an option; 

    3. $0.00008 per contract for each round turn transaction of a security future, provided there is a minimum charge of $0.01 per round turn transaction; 

    4. $0.00075 per bond for each sale of a covered TRACE-Eligible Security (other than an Asset-Backed Security) and/or municipal security, with a maximum charge of $0.75 per trade; 

    5. $0.00000075 times the value, as reported to TRACE, of a sale of an Asset-Backed Security, with a maximum charge of $0.75 per trade.

    6. In addition, if the execution price for a covered security is less than the Trading Activity Fee rate: 
      a. $0.000119 for covered equity securities 
      b. $0.002 for covered option contracts 
    $0.01 for a security future on a per share 

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Native American Advisors CHIPPEWA PARTNERS

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173