Disclosures
BestVest Investments, Ltd. Client Disclosure Statement
BESTVEST INVESTMENTS LTD, hereafter referred to as BestVest, is a fully Disclosed Broker Dealer with a history of service to the retail investor. BestVest Investments LTD. is a member of the NASD (National Association of Securities Dealers), The M.S.R.B. (Municipal Securities Rulemaking Board), and S.I.P.C. (Securities Insurance Protection Corporation).
Best Execution Disclosure
All orders are executed at prices equal to, or better than, the displayed national best bid/offer prices. Market conditions determine speed and price of transactions. All transactions where executions are at multiple prices, due to lack of liquidity or price improvement, and the subsequent price is averaged will be identified by the abbreviation vwap which stands for value weighted average price. Under SEC Rule 11Ac1-6, broker-dealers are required to make publicly available quarterly reports. These reports can be found at our clearing firm, www.fiservsecurities.com . To determine the contra party of any individual trade, please direct your written inquiry to BestVest Investments, Ltd.
Order Flow Disclosure
BestVest does receive remuneration in the form of rebates for routing equity securities orders to designated broker dealers or third Markets for execution. These rebates range from 0 to 1 ½ cents per share for certain securities. Your order is routed to market centers, including other broker dealers, where, based on experience, they combine price, speed, and size to provide you with what we believe are the best executions. All orders are executed at the best available prices in accordance with the displayed national best bid/offer prices. Upon written request, BestVest will provide any client with the contra party for any executed order. BestVest uses the rebates to reduce the costs associated with processing transactions. Our clearing firm, Fiserv Securities, Inc., has their order flow disclosure statement separate and apart from BestVest.
Fee Disclosure
IRA accounts are assessed an annual fee of $35.00
Inactive accounts (accounts which do not do any transactions and have positions in the accounts) are subject to a $50.00 inactive fee per year.
Securities that are not held in street name are assessed a $20.00 fee per security biannually. Separate fees may apply for limited partnerships, transferring and shipping securities and funds, wiring out funds, extensions, and legal review of documents.
These fees offset the cost of maintaining the accounts and are subject to change without prior notice.
Trade Settlements
Option trades and U.S. Treasuries settle the next day. Stock transactions settle on the third day after the trade date. Mutual fund settlement dates can vary from next day to the third day after the trade date. Transactions where payment is made after the settlement date are subject to cancellation in accordance with free-riding regulations.
Tax Withholding
If for any reason you sell a security and a signed Taxpayer Identification Number form (page 7 of the customer agreement, or a W-9) is not received by the settlement day, 31% of the proceeds will be withheld. Fiserv will not reverse the withholding; the withholding is sent and reported to the IRS as a tax credit for your account and can not be claimed until you file your taxes.
Privacy Statement
BestVest has no intention to provide or sell any proprietary information obtained in the ordinary course of doing business with any client. Information requested by regulatory agencies will be provided to those agencies as requested in accordance with the laws or the securities industry.
Option Trading
Trading options can be a high risk strategy and no trades will be enacted without the client receiving an option disclosure form and sending in additional option paperwork which must be signed by the client, the representative, the branch manager, and an options principal.
Margin Trades
No margin trades may be placed before an account is approved for margin trading. Margin trading can be speculative and can result in a client losing more than the original purchase expenditure. Margin fees vary but are based on the total amount of money borrowed in a margin account. Margin calls may subject clients to buy-ins and sell-outs of their positions without prior notification from BestVest or the Clearing firm. Only experienced knowledgeable investors should have margin accounts.
NASD Hotline
To inquire about any aspect of securities law Contact the National Association of Securities Dealers.
NASD
1735 K Street, NW
Washington DC 20006-1500
202-728-8000
or WWW.NASD.COM
Phone calls may be recorded by BestVest Investments LTD. and or Fiserv Securities. Formal notification is given that any recordings may be used to help with quality assurance.
Accounts are insured through the SIPC and through additional coverage provided by Fiserv Securities INC. The insurance provides coverage for $100,000.00 in cash and $999,900,000.00 in security coverage.
Please review this disclosure and all written correspondence from BestVest and Fiserv carefully.
Written material such as confirmations and statements are deemed to be correct unless BestVest or Fiserv receive notification of a discrepancy within five days of clients receipt of the material. The Laws of the State of New York will apply to any and all customer inquiries and/or complaints.
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