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American Portfolios Financial Services, Inc.
4250 Veterans Memorial Hwy. | Suite 420E
Holbrook, NY 11741
PHONE: 631.439.4600
FAX: 631.439.4698
www.americanportfolios.com
AP/PERSHING ACCOUNT, TRANSACTION AND SERVICES FEE SCHEDULE
ANY AND ALL ACCOUNT PREFIXES; EQUITY, FIXED INCOME AND OPTIONS COMMISSION SCHEDULES
The fees listed below do not include commissions, markups, commission equivalents or investment advisory fees.
Some fees may not apply to all registration types. Commissions and fees that may be charged by third parties,
such as investment sponsors, money managers or custodians are not included. American Portfolios Financial
Services, Inc. (AP) reserves the right to change the fees at any time.
Please contact your AP investment professional for any questions or concerns you may have.
Ticket Charges
Transaction Type
Pricing
Equity Trades
Listed
$7 (PAJ, 0BL, JLO, and PK7 office ranges)
OTC
$7 (PAJ, 0BL, JLO, and PK7 office ranges)
Equity Dividend Reinvestment
$0
Bonds
Bonds and CD Trades
$7 (PAJ, 0BL, JLO and PK7 office ranges)
Unit Investment Trusts
$7 (PAJ, 0BL, JLO and PK7 office ranges)
Option Trades
$7 (PAJ, 0BL, JLO and PK7 office ranges)
Mutual Fund Trades
Non-Corestone Account, Any Buy or Sell
$7 (PAJ, 0BL, JLO, and PK7 office ranges)
Corestone Account, Purchase of $10,000 or More
$7 (PAJ, 0BL, JLO, and PK7 office ranges)
Exchanges
$0
Systematic Purchases and Redemptions (PIP/SWP)
$0
Additional Fee for Select No Load Mutual Funds
$10*
Confirmation Charge
$0 for electronic delivery
$1.50 for paper delivery
* $10 fee in addition to the customary $7 mutual fund ticket charge; costs for exchanges and/or systematic purchases remain the same.
Loan Advance*
Loan Balance
Pricing
$100,000 – $249,999.99
Fed Funds Target (FFT) plus 3.50%
$250,000 – $499,999.99
Fed Funds Target (FFT) plus 3.25%
$500,000 – $749,999.99
Fed Funds Target (FFT) plus 3.00%
$750,000 and above
Fed Funds Target (FFT) plus 2.75%
* Rates effective March 1, 2023, for new loan accounts.
Retirement Accounts
Annual Custodial Maintenance Fees
Traditional IRA, ROTH IRA, SEP IRA, ESA
Office Ranges: 0A1, 0BL, AP2, JLO, JQG, 56A, 56I, 56O, 56Q, 56S,
57O, APU, 19T, PK7, PK8, JLP, XPN, AP7, APU
$0
Traditional IRA, ROTH IRA, SEP IRA, ESA
Office Ranges: 56V, AG6, JLS, JTP, PAJ
$43.50*
Mutual Fund Only IRA/ROTH IRA/SEP IRA/Simple
$0
SARSEP/Prototype SEP, SIMPLE IRA, 403(b)(7) Individual(k),
Simplified 401(k), Simplified Profit Sharing, Simplified Money
Purchase Plan Document Types, Flexible 401(k), Flexible Profit
Sharing and Flexible Money Purchase Plan Document Types
Office Ranges: All office ranges
$50**
Traditional IRA to ROTH Conversion
$0
Internal Transfer from Traditional IRA/ROTH IRA to a Mutual
Fund Only IRA
$0
Termination Fees (All Retirement Accounts)
$95***
* Charged on or about the anniversary date of account establishment
** Charged during account establishment; account invoiced annually on anniversary date
*** Annual Custodial Maintenance fee to be charged in addition to termination fee
Limited Partnerships, Private Placements and Other Special Products (Retail and Retirement Accounts)*
Subscription Fee
$0 per purchase
Redemption Fee
$0 per position
Re-registration Fee
$0 per position
Registered Alternative Investment Annual Per Position Service Fee
$35 per position
Unregistered Alternative Investment Annual Per Position Service Fee
$85 per position
Document Review Fee to Determine Ability to
Custody
$0, per review, regardless of outcome
IRS 990-T UBTI Tax Return Filing
$0 per return filed
* For retirement accounts, these fees are in addition to the annual custodial maintenance fee
Account Access & E-documents
NetXInvestor
$0
Inactive Account Fees*
Account Fee
$50 per account, per year*
* Effective Calendar Year 2023, the inactivity charge will be assessed in March 2024. The fee is only applicable to the 56V, JTP, JLS and AG6 office ranges in accounts that were opened prior to Jan. 1, 2023, and where the account had no settled trades from Jan. 1 – Dec. 31, 2023, plus either of the following: it has one or more security positions (excluding fixed income book entry only positions) or it has margin and/or credit interest of less than $100 per year.
An inactive account fee will not be charged: if accounts were opened in 2023, if they are American Portfolios Advisors, Inc. or Outside RIA accounts, an account has at least one trade that settles by Dec. 31, 2023 (not including dividend reinvestment trades), and mutual fund only accounts.
American Portfolios add an additional amount (“markup”) on inactivity fees imposed by Pershing.
Margin Accounts
Margin* & COD** Extensions
$0 per Margin extension event / $20 per COD extension
Margin Debit Interest (Effective May 1, 2024)
Balances of:
$0 – $24,999.99
PBLR***, plus 2.00%
$25,000 – $49,999.99
PBLR***, plus 1.50%
$50,000 – $99,999.99
PBLR***, plus 1.00%
$100,000 and more
PBLR***, plus 0.75%
* Additional time that is requested to pay for a trade
** Additional time that is requested to deliver securities
** American Portfolios add an additional amount (“markup”) on COD extensions imposed by Pershing.
*** PBLR – Pershing Base Lending Rate
Corporate Executive Services
ESOP Transaction (Employee Stock Option Program)
$50 per event, plus applicable margin interest
Restricted/Control Stock Expanded Service
$0 per item
Restricted/Control Stock Full Service
$0 per item
Account Service Fees
Account Low Balance Fee
(Charge is only for AP/Pershing commission accounts—56V, JTP, JLS, PAJ and AG6—whereby the following conditions are met: it’s an account opened before Jan. 1 of each year, has an account balance of $100 or less as of May 31 of each year and has paper delivery of statements within NetXInvestor; the $10 charge is assessed to the accountholder in June of each year)
$10
Fee assessed by American Portfolios, not Pershing
Fed Funds Wires
(Same-day electronic transfer of cash from one bank to another)
$25 per event
ACH
(24-hour electronic transfer of cash from one bank to another)
$0
Overnight Courier Fee
(Check request)
$12 per event
$25 per event, International
DK Items
(Cash on delivery accounts (COD) in which the other side does not know (DK) the trade and delivers back the security)
$0
Foreign Receive & Deliver (Trade) Fees
(Applies to processing of transfer in or out of securities from overseas)
$75
$50 for Euroclear securities
Foreign Security Safekeeping
(Storing securities in a protected area)
$10 per account position, per month
Reorganization Items – Mandatory
(Examples such as company name, CUSIP or symbol changes, stock splits, mandatory liquidations—including bond/fixed income positions that mature (Bond Redemption Fee)—partial or full calls, or any applicable mandatory corporate action)
$10 per item
Reorganization Items – Voluntary
(Company announcements of optional dividends, tender offers)
$0 per item
Customer Name Safekeeping
(Storing securities in a protected area)
$10 per account position, per month
Non-U.S. (“Foreign”) Account Fee
(All accounts with a tax residence other than in the U.S. or Puerto Rico that maintain a position, balance or had a Form 1042-S reportable transaction during the calendar year; accountholders will not be subject to the annual fee)
$0 per account, per year
Puerto Rico Tax Reporting Fee
(All accounts with a Puerto Rico tax residence where Puerto Rico tax reporting is required will be subject to an annual Puerto Rico Tax Reporting Fee; in addition, any accountholder with a U.S. account that has a Puerto Rico tax reporting requirement (Form 480.6) will not be subject to the annual Puerto Rico Tax Reporting fee)
$0 per account, per year
Short Interest Fees—Effective May 1, 2021
(Selling restricted securities prior to clean shares being brought into the account.)
Varies depending upon length of time between the sale of restricted securities and when clean shares are brought into the account.
Short-Term Redemption of NTF Mutual Fund
(One Month)
(Accounts within the 56V, JTP, JLS, PAJ and AG6 office ranges; FundVest fund purchased and then sold in less than one month)
$0 per item
Statement Charge
(There is a $0 charge for electronic and paper delivery of statements)
$0 for electronic delivery
$0 for paper delivery
Stop Payment First / Third-Party Check Fee
(Not Corestone)
$0 per item
Securities Registration, Custody, Transfer and Ship
Direct Registration at Transfer Agent
(Security to be held at the transfer agent on behalf of the client)
$0 per item
Direct Registration at Pershing
(Security to be transferred from American Stock Transfer, Computershare, Wells Fargo, and Registrar and Transfer Company to Pershing when security is held in book entry form)
$0
Certificate Cancellation
(No charge assessed by transfer agents for the cancellation of physical certificates and converting shares to book entry)
$0
Depository Trust Company (DTC) Deposit and Withdrawal (DWAC) at Custodian
(Same-day receipt of securities to an AP/Pershing account from a transfer agent)
$0
Depository Trust Company (DTC) Deposit and Withdrawal (DWAC)
(Processing for DTC deposits and withdrawals)
$0 per instruction message
GNMA, Legal* and Restricted** Items
$0
Transfer Agent – Processing Physical Securities
(Transfer and cancellation of each physical certificate)
$0
Retirement Outgoing Account Transfers
$95 (termination fee) + $43.50 (maintenance fee) = $135 for 56V, AG6, JLS, JTP and PAJ office ranges
$95 (termination fee) for 0A1, 0BL, AP2, JLO, JQG, 56A, 56I, 56O, 56Q, 56S, 57O, APU, 19T, PK7, PK8, JLP, XPN and AP7 office ranges
Outgoing Retail Account Transfers to a Pershing Firm
(Transferring of client account to another broker/dealer)
$150 per transfer
Fee assessed by American Portfolios, not Pershing
Outgoing Retail Account Transfers to a Non-Pershing Firm
(Transferring of client account to another broker/dealer)
$150 per transfer
American Portfolios adds an additional amount (“markup”) on fees imposed by Pershing
* Legal: Physical stock deposit into Pershing requires stock power and any other applicable documents, (e.g. death certificate,
corporate resolution, etc.)
** Restricted Item: Physical stock deposit into Pershing that has a legend attached to it
Cash Management—Corestone Accounts
Silver Plus Account
$50 per year
Gold Account
Gold Corporate Account
$100 per year
$150 per year
Platinum Account
Platinum Corporate Account
$150 per year
$250 per year
Platinum Account
Platinum Corporate Account
$150 per year
$250 per year
Checking Fees
Stop payment for Silver, Silver Plus and Gold accounts
$25
Returned checks or ACH debits
$25
Retrieve copy of paid check
$2.50
Visa Fees
ATM surcharge fee (charged by ATM)
Varies
Retrieve copy of paid Visa draft
$2.50
Foreign transaction fee (transactions performed outside the
U.S.)
1% of the transaction
Cash advance fee
.25% of the transaction ($2.50 minimum)
Personal Checks
Silver and Silver Plus accounts
$12.50
Gold and Gold Corporate accounts
$10
Platinum and Platinum Corporate Accounts
$7.50
Carbon Copy Checks
Initial order (checkbook cover, check register and 100 checks)
$15
Reorders (check register and 100 checks)
$25
Business Checks
Initial order (business binder and register, deposit tickets and
252 checks)
$0
Reorders (business register, deposit tickets and 252 checks)
$0
Reorder binder
$0
* Silver fee waived for Corestone accounts that have $25,000 or more in cash sweep balances (average month-end closing balance will be used)
Other Miscellaneous Fees Accommodated Upon Request
Tax and Year-End Statements
$0
Year-End Activity Report
$3 per account, per year
Special Statement Production
$1 per statement, per month
* Silver fee waived for Corestone accounts that have $25,000 or more in cash sweep balances (average month-end closing balance will be used)
EQUITY, FIXED INCOME AND OPTIONS COMMISSION SCHEDULES
The maximum equity commission schedule is not meant to be normal and permissible for every transaction. FINRA regulations require commissions to be fair, based on relevant circumstances.
* The existing broker/dealer $50 minimum commission policy still applies.
Equity Commission Schedule
| Principal Dollar Amount | Maximum Commission Percentage* |
| Up to $5,000.00 | 4.50% |
| $5,000.01 - $10,000.00 | 4.25% |
| $10,000.01 - $25,000.00 | 4.00% |
| $25,000.01 - $50,000.00 | 3.50% |
| $50,000.01 - $100,000.00 | 3.00% |
| $100,000.01 - $250,000.00 | 2.25% |
| $250,000.01 and above | 2.00% |
Options Commission Schedule
The schedule will have a default/maximum allowable commission of the greater than Percentage of Principal
(Investment Amount) or Per Contract schedule with a $50 minimum; the $50 minimum may be reduced at the investment professional’s discretion if the trade is very small. Pershing will not allow a commission to cause an overall debit to the accountholder on a trade, regardless of ticket charges (with the exception of the paper confirmation charges).
Percentage of Principal is:
Percentage of Principal
| Principal Dollar Amount | Percentage |
| Less than $10,000 | 4% |
| $10,000 - $24,999.99 | 3.5% |
| $25,000 - $49,999.99 | 2.5% |
| $50,000 – $99,999.99 | 2% |
| $100,000 and greater | 1.5% |
The Per Contract schedule is:
$25 plus $X.XX per contract
| Contract price less than $4 | Contract price $4 and above |
| + $1.50 per contract | + $2.00 per contract |
Maximum Markup Guidelines for Secondary Fixed Income Market
The guidelines below are not meant to be normal and permissible for every transaction. Some considerations such as the bond’s rating, market availability and size of trade could affect percentage. Smaller transactions may warrant a higher percentage in order to cover transaction charges.
The guidelines apply to individual purchases and proceeds transactions. A proceeds transaction is when the customer sells a security and uses the proceeds to purchase another security at, or about, the same time. In a proceeds transaction the aggregate commission and/or markup/markdown may not exceed the maximum allowable for a single transaction. The maximum markdown on the sell-side of a proceeds transaction will be the lesser of the below guidelines or 0.75%.
Maximum Markup Guidelines for Secondary Fixed Income Market
| # of Years to Maturity | Corporate Bonds | US Treasury | Government Agency | Municipal | Certificate of Deposit |
| Less than 1 | 0.50% | 0.25% | 0.25% | 0.50% | 0.25% |
| 1 to 2 | 1.00% | 0.50% | 0.50% | 0.50% | 0.50% |
| 2 to 3 | 1.50% | 0.75% | 0.75% | 0.75% | 0.75% |
| 3 to 4 | 2.00% | 1.00% | 1.00% | 1.00% | 1.00% |
| 4 to 5 | 2.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 5 to 7 | 3.00% | 2.00% | 1.75% | 1.75% | 1.75% |
| 7 to 10 | 3.50% | 2.25% | 2.00% | 2.00% | 2.00% |
| Greater than 10 | 3.75% | 2.50% | 2.25% | 2.25% | 2.25% |
Member: FINRA/SIPC
Updated May 2024