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Effective June 1, 2014, the pricing plan for your account(s) will change. As a result, if your billing anniversary falls on the weekend of May 31, 2014, you will be billed at the new Plan rate for June 2014.

The New Pricing Plans are called:

Basic Investment Plan (BIP): $7.99 per month (2 trades per month)

Moderate Investment Plan (MIP): $56.25 per month (15 trades per month)

Diversified Investment Plan (DIP): $122.50 per month (35 trades per month)

IRA Accounts $3.99 per transaction

Any accounts that were previously in the former Unlimited Investment Plan (“UIP”), will be automatically rolled into the MIP. No accounts will be swept into the DIP. You must do so proactively to ensure you are charged appropriately.

Below is a detailed description of the new plans:

Basic Investment Plan (BIP)

Your account will be charged $7.99 per month, which includes two trades per month whether they are buy, sell or E-ZVest trades. Each additional trade within the month will be charged $3.99. These fees are assessed to all accounts separately. We increased the plan by $0.50 per trade or $1 per month.

Moderate Investment Plan (MIP)

Your account will be charged $56.25 (15 x 3.75) per month, which includes 15 trades per month whether they are buy, sell or E-ZVest trades. Each additional trade within the month will be charged $3.99. These fees are assessed to all accounts separately.

The Unlimited Investment Plan (UIP) has been terminated. If you had previously selected this plan and you executed 5 trades per month, your cost per trade was $2.998 ($14.99 / 5 = $2.998). The new MIP Plan is based on a $3.75 per trade cost. As a result, if you plan on executing 5 or less trades per month, you should consider the BIP Plan (e.g. 5 x 3.99 = $19.95) or less. If you had previously executed 15 trades per month under the former UIP ($14.99 / 15 = $0.99), we simply cannot afford to continue to execute trades for under One Dollar.

Diversified Investment Plan (DIP)

Your account will be charged $122.50 (35 x 3.50) per month, which includes 35 trades per month whether they are buy, sell or E-ZVest trades. Each additional trade within the month will be charged $3.99. These fees are assessed to all accounts separately.

If you had previously selected the UIP Plan and executed 35 trades or more per month, your cost per trade was $0.428 ($14.99 / 35 = $0.428) or less. We simply cannot afford to execute trades for less than One Dollar. The new DIP Plan is based on a $3.50 per trade cost. If you plan on executing 15 or less trades per month, you should consider the MIP Plan (e.g. 15 x 3.75 = $56.25).

We urge you to review your trading history and consider your future trading intentions carefully to select the appropriate plan. You should also know that while you can upgrade to any higher trading plan intra-month, down-grading to lesser trading plan will only occur at the beginning of the next month.

Once again, I urge you to please review the new Investment Plans immediately as the new price-plans will go into effect for your billing cycle for (the weekend of May 31, 2014 and forward) June 2014. If you do not make a selection before your anniversary/billing date, your account will roll into the new price plan that corresponds to the former equivalent Investment Plan.

We appreciate your loyalty, trust and confidence and we will continue to seek innovative ways to improve our services as we strive to continue to be your online broker for long-term investing.

Sincerely

Manuel A. Santiago, Jr.
Chief Operating Officer

 

 


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