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FIRST CLEARING ANNUAL ACCOUNT FEE DISCLOSURES
EFFECTIVE 3/31/2020

You are receiving this notice from Lafayette Investments Inc. in order to provide you with advance notice of Annual Account Fees that may be assessed in your account in September 2020. The information below may enable you to take advantage of a fee waiver based on one or more of the criteria listed below. In the case that no waiver is available for your account as of the decision date of June 30, 2020, the Customer Fee Schedule under Important Disclosures on Lafayette’s website (at www.lafayetteinvestments.com) will set forth the Annual Account Fee that will be assessed in your account on or about September 18, 2020. The Customer Fee Schedule also provides disclosure of many other common operational fees. If you have questions, please contact your Lafayette financial professional.

2020 Annual Account Fees
Account fees for 2020, if applicable, will be assessed for the following account types unless one of the waiver criteria is met:

Advantage Account1 $125 charged annually as described in your original account agreement
Investment Account2 $65 fee charged annually
Individual Retirement Account3 $50 fee, to be further disclosed on the annual invoice to be mailed to you in late July 2020
UGMA/UTMA Account $45 fee charged annually

The 2020 Annual Account Fees will be charged in September 2020 and will be based on the type of account you maintained on June 30, 2020.

Waiver Criteria
Annual Account Fees will be waived if one of the following criteria is met:

1. One or more household accounts that contain assets totaling $500,000 or more as of June 30, 2020. This includes all personal brokerage accounts householded by your brokerage firm
2. Any Investment Account, IRA, or Advantage Account with open-end mutual fund positions of $100,000 or more. (Money market funds, closed-end funds and exchange-traded funds do not count toward this exemption.)
3. Investment Accounts that have completed at least six billable trades between July 1, 2019 and June 30, 2020.
4. Managed accounts (excluding IRAs) that pay a fee in lieu of commissions. (Normal quarterly asset management fees will continue to apply.)
5. Delivery Versus Payment accounts.
6. Investment Accounts opened on or after January 1, 2020.
7. Individual participant’s accounts that are part of a Qualified Retirement Plan (QRP), excluding IRA accounts.
8. 529 Education Savings Plan accounts. (Cash only accounts do not qualify.)

Payment Options
For all accounts except IRAs, the annual account fee will be deducted automatically from the respective account(s) in September 2020. Clients with IRAs will receive an invoice in July 2020. Clients will have the choice of paying the fee by returning the invoice with a check or having the fee automatically deducted from the IRA account in September 2020. If you have any questions regarding the applicability of these fees, please contact the Lafayette financial professional who services your account.

1 Excludes Advantage Basic Accounts. (Advantage Basic Accounts do not include credit/debit cards and other features.)
2 Includes standard brokerage and Advantage Basic Accounts.
3 Includes traditional, spousal, Roth, SEP and SIMPLE IRAs and Advantage IRA.

 

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Lafayette Investments is registered with the Securities and Exchange Commission as an investment advisor and a broker-dealer.