Fee Schedule

The FISN Division of Landolt Securities, Inc. does not charge investment advisory fees or annual management fees. The FISN Division earns income when investments or transactions are made. If there are transaction expenses, such as a commission or fee, they are disclosed at the time of investment.
However, there could be Service Fees that do arise in the normal maintenance of securities accounts and are generated due to a request, need or inaction of the account holder. For example, the most common services initiated by the account holder are Wire Transfers and Stop Payments on checks. The most frequent event related to a customer inaction is for Late Payments and Bounced Checks. There is also the Annual Custody Fee of $30, charged when an account is inactive for a year. This fee covers the required statement and tax document mailings, plus custody of the securities, the processing of interest and dividend receipts and the issuing of checks.
FISN Division of Landolt Securities, Inc. uses National Financial Services LLC (NFS) as our clearing firm. NFS is a Boston based Fidelity Investments® company and a nationwide leader in securities administration. NFS carries the accounts of Landolt Securities, Inc. These fees are imposed when NFS performs a service for the account. We believe their fees are competitive and relate to the actual expense involved. The FISN Division of Landolt Securities, Inc. reserves the right to establish its own service fees to recover its cost of processing transactions.
The FISN Division of Landolt Securities, Inc. will assess fees for the services listed below. For your convenience, we have provided both a definition of each fee and the amount we will be charging in each case.
  • Fed Funds Wire – $20 – is charged to send a Fed Funds wire. Wire fees for international transactions are higher and depend upon the circumstances.
  • Annual Custody Fee – $30 – is charged when an account has not had a securities trade in the last calendar year or the money market account balance as of 12/31 is less then $10,000.
  • IRA Maintenance Fee – $35 – is charged for each year for the annual maintenance and record keeping requirements of NFS retirement accounts. An invoice is sent to each IRA customer each Fall and, if not paid, is then debited from the account balance in December.
  • IRA Closure Fee – $95 – NFS fee for liquidation/termination of an NFS retirement account. The fee will be collected from the account balance and may not be paid by separate check.
  • Bounced Checks – $25  – are identified as any incoming check that is deposited into an account with insufficient funds and then returned by the bank.
  • Stop Payments – $25 – is charged based upon receipt of notification to stop an outgoing check.
  • Legal Transfers – $100 – is charged when a transfer requiring legal documentation is completed.
  • Legal Returns – $75 – are identified as certificates returned to a customer due to a “not in good order” status being in effect for more than 45 days.
  • Physical Reorganizations – $45 – are charged when a certificate is deposited into a customer account after the mandatory reorganization action date has passed.
  • Transfer and Ship – $250 – is charged when a customer requests receipt of a physical certificate that is not DRS eligible (an automated stock transfer system)  OR $20 – is charged when a customer requests receipt of a physical certificate that is DRS eligible.
  • Mailgrams – $10 – are sent as a result of a trade related obligation or margin deficiency that requires communication to the customer.
  • Extensions – $15 – are requests on behalf of customers for more time for payment/delivery of a security transaction.
  • TOA Delivery – $95 – is a transfer of your entire account to another brokerage firm.
  • Safekeeping – $10 – is charged when positions are held for legal review purposes.
  • PIP Transaction Fee – $5 – is a re-occurring transaction fee for each purchase made through a mutual fund Periodic Investment Plan (PIP).
  • Postage and Handling – $3.95 – is charged per trade executed in a brokerage account.
  • Mutual Fund Transaction Fee – $50 – is a transaction fee, per transaction, for each mutual fund purchase or sale through FISN.
    If you would like clarification or additional information about the above, please contact your representative. As always, we continue to value your business and appreciate your choosing the FISN Division of Landolt Securities, Inc.