Financial Planning Information

Investment

Fee-Based Compensation Versus Commission's

Characteristic	Fee-based	Commission - A shares	Commission - B shares	Commission - C shares
Initial payment	.6% to 1.5% depending on total amount of investments	4% to 6%	4%	1%
Annual payment after initial	.6% to 1.5% depending on total about of investments	0.25%	0.25%	1%
Frequency of client meetings	Quarterly to annual, normally dependent on clients wishes	Usually annual or when client has more money to invest	Usually annual or when client has more money to invest	Usually annual or when client has more money to invest

Characteristic	Fee-based	Commission - A shares	Commission - B shares	Commission - C shares
Cost of rebalancing asset allocation	Normally no additional cost	Additional sales commissions (4% to 6%) if more than one fund family is used in the portfolio rebalancing	Additional sales commissions (4%) if more than one fund family is used in the portfolio rebalancing	Additional sales commissions (1%) if more than one fund family is used in the portfolio rebalancing
Asset allocation utilizes multiple fund families to maximize the quality of each asset class i.e. large cap stocks, small-cap stocks, high-yield bonds, real estate etc.	Normally yes	Normally no, because of the additional sales commissions & costs of rebalancing	Normally no, because of the additional sales commissions & costs of rebalancing	Normally no, because of the additional sales commissions & costs of rebalancing
Uses no-load mutual funds	Yes	No	No	No
Uses Exchange Traded Funds	Yes	No	No	No
Uses individual stocks and bonds	Yes	No	No	No
Has a backend commission if you cash out within 6 to 8 years	No	No	Yes, up to 7% or more	No
Normal internal fund management fees	.3% to 1.7% annually	.3% to 1.7% annually	1.3% to 2.7% annually	1.3% to 2.7% annually