Cost

Lincoln Financial Advisors (LFA) offers brokerage account services through two clearing firms: National Financial Services, LLC®, (NFS) and Pershing, LLC®. Both are well-known and highly respected across the financial services industry.

Account statements from LFA clearly indicate which clearing firm serves your account.

Fee and commission schedule (NFS)

NFS, a Fidelity® Investments company, provides brokerage account services for Brokerage Portfolio® and Basic Brokerage accounts. NFS also provides custodial services for our Individual Retirement Accounts (IRAs), profit sharing plans and money purchase plans. 

Utilize the LFA Fee and Commission Schedule for fee and commission information related to these accounts.   

NFS sets a base lending rate according to commercial lending rates, industry conditions regarding the extension of margin credit and general credit conditions. As of July 1, 2017, the NFS Base Lending Rate (NFBLR) was 5.75 percent.1 The NFBLR is set at the discretion of NFS and can change without notice.   

The margin rate is the sum of the NFBLR and a surcharge based on the size of the margin debit balance. The   NFS Margin Borrowing Brochure   and talking to your LFA representative can help you decide whether margin investing is appropriate for you.

Margin trading entails considerable risk and is not suitable for all investors. If the market value of securities in a margin account declines, you may be required to deposit more money or securities to maintain your line of credit. Investment losses do not minimize the obligation of a margin account investor to repay a loan in full. 

Fee and commission schedule (Pershing)

Pershing provides brokerage account services for the Standard Account, Resource Checking Brokerage Account, the Corestone Account™ family of asset management programs, Pershing Retirement Accounts and LFA Individual Retirement Accounts (IRAs).   

Utilize the LFA Fee and Commission Schedule  LFA Fee and Commission Schedule for fee and commission information related to these accounts.

Pershing sets a base lending rate according to commercial lending rates, industry conditions regarding the extension of margin credit and general credit conditions. As of July 1, 2017, the Pershing Base Lending Rate (PBLR) was 6.88 percent.1 The PBLR is set at the discretion of Pershing and can change without notice.

The margin rate is the sum of the PBLR and a surcharge based on the size of the margin debit balance. Talking to your LFA representative can help you decide whether margin investing is appropriate for you.

Margin trading entails considerable risk and is not suitable for all investors. If the market value of securities in a margin account declines, you may be required to deposit more money or securities to maintain your line of credit. Investment losses do not minimize the obligation of a margin account investor to repay a loan in full.

1The NFBLR and PBLR can change without notice.