Mike has done an exceptional job with the last few Weekend Words and this time around he’s passed the torch on to me. Unfortunately, I don’t think I can top the amount of quality information Mike provided the past few weeks, but hopefully you will find it equally intriguing in a different way.
Last week we received news from Commonwealth that they are going to be reducing transaction costs for clients who opt in to e-delivery for all mailings. As Commonwealth matures, they have made continued improvements to their offerings, much of which has been for our benefit as the advisors, but now we’re starting to see Commonwealth’s scale allow for more cost-effective transactions for you. We’ve done our best over the years to minimize the transaction costs you experience as clients, but this change will help when we aren’t able to avoid those costs.
This is a change we’ve been lobbying for quite some time its great to see it finally come to fruition.
The changes are as follows (effective 4/1/2019):
- $4.95 for equities, ETFs, and closed-end funds, down from $19.95
- $12 for mutual funds that have a transaction fee, down from $15.
- Waiver of $4 service (confirm) fee¸ which was assessed on top of the previously mentioned trading costs.
- Elimination of the $0.01 charge on every share over 1,000 for listed orders (applies to brokerage accounts as well)
Many of you have Investor360 as it is, so signing up for e-delivery is incredibly easy.
Should you not have Investor360 access and would like to view you accounts on line in addition to participating in e-delivery and the lower transaction costs please reach out and I can help you get started.