Fees & Minimums
- How much does Selective charge for its service?
Selective does not charge a management fee at the RIA level. However, Selective is the adviser to a mutual fund. Fund fees are published in the prospectus. Selective does not charge on investments managed outside the fund. For more information about mutual fund expenses please contact firstname.lastname@example.org or use the contact form to the right.
- Do you have fee breaks for larger accounts?
We do not offer break fees based on account size.
- What are the trading commissions incurred with a Selective account?
Our brokerage firm, Shareholders Service Group, charges $10.95 per market order and $13.95 per limit order. Additionally, Shareholders Service Group charges $15 to purchase and redeem mutual fund shares. These fees are charged every time we buy or sell a stock in your account. All returns, calculations and performance presentations are after all fees.
- What custodial fees will be charged to my Selective account?
Retirement accounts with a balance of less than $10,000 are charged $25 per year.
- How are fees calculated?
Selective does not charge fees at the RIA level. For more information about fees associated with the Fund please request a prospectus in the "Contact Us" section to the right.
- What is the minimum investment to open an account with Selective?
The minimum investment is $10,000 for taxable accounts and $5,500 for non-taxable (retirement) accounts.
- How does Selective protect the investment in my account?
We use a custodian to custody your assets; Pershing LLC. By utilizing a highly respected third party custodian your funds are safeguarded to maximize security.
Funding & Withdrawals
- How do I fund my account?
If you are not transferring an investment account to Selective, the initial funding of your account requires a check made payable to Pershing LLC. After that you can easily set up electronic contributions by selecting the "Link Bank Account" button under your account management page.
- How do I deposit additional funds to my account?
There are a few ways to deposit additional funds to your account. You may make a check payable to Pershing LLC and mail it to 828 Main St, Suite 1703, Lynchburg, VA 24504. If you have an established ACH you may deposit funds electronically via your "one-time contribution" option on your Selective Account Page. Finally, you may also wire additional funds. For wiring instructions please contact us at email@example.com.
- Can I establish automatic monthly contributions?
Yes. You may establish automatic monthly contributions or withdrawals from your investment account directly from your Selective account page with the click of a button.
- How do I make withdrawals from my account?
If you are withdrawing from a retirement account you simply need to complete an IRA Distribution form (we will provide). If you are withdrawing any other account simply indicate it on your Selective account page with the click of your mouse.
- How long does it take to withdrawal funds?
It could be as fast as one business day or take up to five business days depending on if we need to liquidate any holdings in your account, and if you established an ACH Agreement to electronically transfer funds.
- Legal Council
We are legally represented by Creekmore Law Firm PC located in Blacksburg, VA. www.creekmorelaw.com/contact-us/
- Auditing Firm
Brockman, Drinkard, and Pennington located in Lynchburg, VA conduct an annual performance verification that is GIPS compliant.
Our custodian is Pershing LLC. http://www.pershing.com/contact_us/index.html
- Prime Broker
Our prime broker is Pershing - a subsidiary of New York Bank of Melon. http://www.pershing.com/contact_us/index.html
Main Office828 Main St
Lynchburg, VA 24504
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