PHX Commission Policy Requirements for stocks
FINRA Rule 2121 includes the 5% Guideline as the traditional benchmark for broker-dealers’ maximum equity transactions compensation. When the 5% Guideline may not be applicable to other products, PHX takes Rule 2121 into consideration.
While FINRA provides a 5% guideline for commissions, PHX retail commissions are typically lower and generally equal to the following rates listed below. Please note that commissions may be discounted below the rates shown below on a case by case basis and generally will not exceed the amounts below except for in certain limited circumstances*:
Equities, ETFs, Unit Investment Trusts (UITs), Mutual Funds** – 3.5%,
Options – 4%
Fixed Income -2%
Notwithstanding the above, PHX generally charges a firm minimum commission of $49 per trade execution.
* Circumstances which may warrant a commission higher than the amounts listed may include but are not limited to: the price of a security, the amount of money being invested, difficulty of executing a transaction, or the complexity of the overall investment strategy.
**Certain mutual fund liquidation compensation built into the fund may exceed the 3.5% on redemptions.
Fee Description Total Fee Fee Basis
Overnight Delivery (UPS)
International Delivery (UPS)
DWAC Reject charges
Client Foreign Financial l intermediary (Omnibus)
Due Diligence Review Fee
Safekeeping /Reconciliation/ Vault Fee
Re-registration of Stock or Alternative Investment
Clearance or Transfer of Restricted Stock
Certificate request OTC
Rush Withdrawal OTC
Penny stock re-registration w/agent (Domestic)
Penny stock re-registration w/agent (Canadian)
Rejected deposits DTC or agent
Transfer agent charges
Lone Positions (Sub penny Book Entry)
AXOS Assisted Dividend Posting (Asset Not held at AXOS)
IRA Annual Custodial Fee
Transfers (including transfer of Roth to/from Traditional IRA)
limited Partnerships/ AIP
Cashless Stock Options
Prepayment of Unsettled Funds
ACAT-Non-ACAT (Full or Partial) Transfer (Transfer Out) plus FreeDelivery charge for each position
Voluntary Tender / Exchange Offer/ Bond Puts
Bond Redemption/Conversion. (Physical Only)
Worthless securities processing charges
Mandatory Reorg Corporate Actions
Cash Dividend Outgoing. Check
Cash Dividend Outgoing. ACH
Manual Options Exercise Request
Handling (charge to customer)
Free Deliveries DTC
NY Window / Physical Delivery
Trades Settled Same-Day (Cash Trades)
Transferring In & Out / Physical Certificates (Foreign)
Foreign Custody Fee
Photocopies of Checks
Returned ACH Items
Wire, Domestic (Outgoing)
Wire, International (Outgoing)
Wire Research Requests/ Service Messages
Foreign Currency Conversions
Foreign Currency Transaction Postings
Check Writing Stop Payment
CCPA Check Writing and Platinum Card
2.5 bps Annually **Subject
to Market Change
$200 / hr. over 5 hrs.; per account
Per year (charged quarterly)
per share, monthly basis
per position annually charge quarterly
Per position / per customer
1% of proceeds Plus Costs; per item
per security processed
per dividend reinvestment entry
per security, charged monthly
Alternative Investment Product Fee Description Total Fees Fee Explanation
One time fee on Gross Investment, which is
Advanced Technology Placement Fee 10% paid by the Issuer to the placement agent.
Select Fund IX, LLC
One time fee on Gross Investment, which is
Management Fee 2% paid by the Issuer to the Issuer's management company.
*KAJJ Management LLC (the "Manager") is the manager of the Company. Kevin Chen is the managing member of the Manager (the “Manager Executive”). Kevin Chen is also the founder and chief executive officer of the Placement Agent.
Issuer will pay placement agent one time
Phoenixx Digital Studios, LLC Placement Fee 10% fee on Gross Investment.
Issuer will pay one time fee on Gross
ExchangeRight Income Fund Upfront Selling Commission 6% investment.
Fee paid to dealer manager to oversee sale of
Dealer Manager Fee 0.5% offerings.
The Trust will be reimburse issuer on a
nonaccounatable basis for expenses incurred
Organization & Offering Expenses 0.94% in connection with the offering and organization
of the trust.
Nonaccountable marketing and due diligence
Marketing Allowance 1.25% allowance.
* Investor's net proceeds will equal to 93.11%, which includes issuer fee reimbursement of 1.80%
The information above is not intended to replace the Alternative Investment's Private Placement Memorandum. Please refer each Alternative Investment's Private Placement Memorandum for a detailed explanation of the fees associated with that product.