Frequently Asked Questions
+ Responsible Investing
At Selective we aim to invest in companies that create value for all stakeholders. It is important to us that each Selective Company serves not only shareholders, but employees, customers, and clients with excellence. We believe in owning businesses that provide products or services that provide benefits to society as whole.
Fees and minimums
+ How much does Selective Charge for its services?
Selective charges 1.25% based on assets under management (AUM). Selective is also the advisor to a proprietary fund. For information related to the Fund, including fees and expenses email email@example.com.
+ 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?
Trading commissions are charged by unaffiliated brokers, Shareholders Service Group and Charles Schwab. For specific charges related to Shareholders Service Group or Charles Schwab please request a fee schedule. All returns, calculations and performance presentations are after all fees.
+ What custodial fees will be charged to my Selective account?
Retirement accounts opened at Pershing with a balance of less than $10,000 are charged $25 per year. Charles Schwab has a$1,000 account minimum for retirement accounts, but does not charge account maintenance fees.
+ How are fees calculated?
Fees are charged monthly, in arrears, and are based on assets under management (AUM). For more information about fees associated with the Fund please request a prospectus in the "Contact Us" section.
+ 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 are the investments in my account protected?
Assets are custodied at an unaffiliated custodian - either Pershing LLC or Charles Schwab. By utilizing highly respected third party custodians funds are safeguarded to maximize security.
Funds & Withdrawals
+ How do I fund my acount?
If you are not transferring an investment account to Selective, the initial funding of your account requires a check made payable to Pershing LLC or Charles Schwab. After that you can easily set up electronic contributions by completing the appropriate form.
+ 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 or Charles Schwab and mail it to our offices. 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 firstname.lastname@example.org.
+ 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 from any other account simply indicate it on your Selective account page with the click of your mouse.
+ How long does it take to withdraw 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.
+ Verifiation Firm
Brockman, Drinkard, and Pennington located in Lynchburg, VA conduct an annual performance verification that is GIPS compliant.
Pershing LLC or Charles Schwab at the client's preference.