How Financial Professionals Are Compensated
投资者向金融专业人士支付的咨询和服务费用有两种基本形式:交易费和持续费. 虽然专业人士收取的费用可能有所不同，但他们必须充分披露这些费用.
Transaction Fees
这些费用通常是在交易进行时评估的一次性费用. Examples of transaction fees include:
Commissions
Paid on the purchase and sale of a stock.1
Mark Ups / Mark Downs
当经纪自营商向投资者出售或购买其持有的头寸时发生. 美国金融业监管局的指导方针确保投资者支付的价格与证券市场合理相关.2
Sales Loads
The sales charge for buying a mutual fund. 它们可能是前端(在你购买基金时收取)或后端(在你出售基金时收取). Mutual funds are sold only by prospectus. 请在投资前仔细考虑各项收费、风险、费用及投资目标. 你可以从你的金融专业人士那里获得一份包含这些信息和其他投资公司信息的招股说明书. Read it carefully before you invest or send money.
Surrender Charges
当投资者过早出售年金时，该费用将被评估. Generally, it is a percentage of the amount withdrawn.3
Redemption Charge
某些共同基金在基金仓位未持有一段规定时间时所收取的费用.
Ongoing Fees
只要投资者继续投资于特定的投资或投资平台，这些费用就会被征收. They typically are calculated as a percentage of assets. Examples of ongoing fees include:
Fees for Professional Investment Services
这些是投资专业人士管理资产所收取的费用.
Annual Operating Expenses
共同基金和交易所交易基金(etf)有持续的费用，用于支付资产管理以及任何行政和服务(或分销)费用. ETFs also are sold only by prospectus. 请在投资前仔细考虑各项收费、风险、费用及投资目标. 你可以从你的金融专业人士那里获得一份包含这些信息和其他投资公司信息的招股说明书. Read it carefully before you invest or send money.
Annual Variable Annuity Fees
除了包含在年金中的基金的年度运营费用之外, an annuity may have additional service fees, administrative charges, and insurance costs. Variable annuities are sold by prospectus, 其中包含有关投资目标和风险的详细信息, as well as charges and expenses. 我们鼓励您在投资或汇款购买可变年金合约之前仔细阅读招股说明书. 招股说明书可向保险公司或您的财务专业人员索取. 可变年金子帐户的价值会随市场情况而波动, 并且如果年金被放弃，其价值可能比原来投资的金额多或少.
Combined Fees
某些产品或投资平台可能会收取交易费和持续资产费的组合. Examples include:
ETFs
When you invest in an ETF, 在购买和出售时都有交易费用, as well as an ongoing fee to manage the fund.
Mutual Funds
基金出售时可能会有销售负荷，也会评估持续费用.
Investment Programs
虽然大多数项目提供包括咨询和交易在内的持续费用, some programs may charge both forms of fees.
Don't Be Afraid to Ask Questions
投资者应该意识到他们为专业人士的服务和建议支付了多少钱. Don't hesitate to ask questions like “How do you get paid?” or “Do I have a choice of how I pay you?”
1. 股票价格的回报和本金价值会随着市场情况的变化而波动. 而股票在出售时，其价值可能高于或低于其原始成本. Past performance does not guarantee future results.
2. FINRA is an acronym for Financial Industry Regulatory Authority, 通过有效和高效的证券业监管，哪个机构致力于保护投资者和维护市场诚信.
3. 年金合同的担保取决于发行公司的赔付能力. Annuities have contract limitations, fees, and charges, including account and administrative fees, underlying investment management fees, mortality and expense fees, and charges for optional benefits. 大多数年金都有退保费，如果你在年金合同的最初几年取出钱，通常是最高的. Withdrawals and income payments are taxed as ordinary income. If a withdrawal is made prior to age 59 1/2, 10%的联邦所得税罚款可能适用(除非有例外情况)。.
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