Charles Schwab Banking
Life Planning Agency, Inc. clears all of their security transactions through Charles Schwab & Co. The reason we use Charles Schwab & Co. as our broker-dealer is quite simple because their on-line commission rates and transaction fees are one of the lowest in the industry. Life Planning Agency, Inc. does not receive any percentage of either stock commissions or transaction costs on mutual funds that may be charged by Charles Schwab & Co. Nor do we receive any portion of the mark up charged on the purchase or sale of bonds. Plus, it is the policy of Life Planning Agency, Inc. to never purchase a mutual fund that charges a front end load commission or a back load commission. However, Life Planning Agency, Inc. will purchase a mutual fund that does charge a short term back load for positions held for less than 90 days or 180 days.
The research that Charles Schwab & Co. provides to its advisors is first rate and comprehensive. We do not receive any soft dollars from Charles Schwab & Co. The research provided to our company is the same as any other individual may receive or any other advisor.
All of our clients have on-line access to their accounts 24 hours a day and if they wish can always initiate their own trades or the transfer of funds to their own bank accounts without paying any additional fees. However, we discourage all of our clients not to initiate brokerage transactions on their own behalf without first informing us first, since this may interfere with the current investment plan that has been developed for them.
We have never received any referrals from Charles Schwab & Co. and if Life Planning Agency, Inc. did receive a referral it is the policy of this Company never to compensate any person, agent or corporation for a referral.