Information about Trades Executed through Broker-Dealers Other than Schwab in the Managed Account Select® and Managed Account Connection® Programs
August 15, 2025
Charles Schwab & Co., Inc. ("Schwab") sponsors the Managed Account Select ("Select") and Managed Account Connection ("Connection") programs (each a "program") in which Schwab-affiliated and non-affiliated asset managers ("Managers") have discretionary authority to trade in enrolled accounts. The asset-based fee that you pay for the program ("Program Fee") covers the cost of commissions and other execution charges for trades executed through Schwab, but not any additional cost, such as a commission or markup, associated with trades placed directly by Managers with other broker-dealers (collectively, "Trading Away", "Trades Away", or other variations thereof).
As set forth in the Charles Schwab & Co., Inc. Disclosure Brochure for: Schwab Managed Account Services™ Wrap Fee Program; Schwab Managed Portfolios™ Wrap Fee Program; Schwab Financial Planning Services, the Program Fee also does not cover mark-ups or mark-downs on fixed income trades, whether they are traded through Schwab or traded away. For fixed income securities, additional costs such as a markup/markdown or spread are generally included in the net price and are not reflected as a separate charge on trade confirmations or account statements.
Some Managers (including without limitation fixed income strategies, Charles Schwab Investment Management, Inc. ("CSIM") for the Windhaven® Strategies, the ThomasPartners® Strategies, Wasmer Schroeder™ Strategies, and certain types of USAA Managed Portfolios – UMP® program strategies, Selective Portfolios, Schwab Personalized Indexing®, Schwab Wealth Portfolios™ and including Managers with certain equity strategies, especially small-cap or preferred strategies) execute most or all of their program trades by Trading Away. Managers may have good reasons for Trading Away, such as to meet their obligation to achieve "best execution" for their clients (including clients outside of the programs) – in other words, the best possible trading result, taking into account such factors as price, extra costs, speed and likelihood of execution. Managers may reasonably believe that they are able to achieve better trading results by Trading Away, including better net pricing even with any additional cost associated with Trading Away. In addition to cost considerations, a Manager may consider various other factors as described in their Form ADV brochure ("Brochure"), including the liquidity of the security, the need for timely execution, and other brokerage and research services they receive from that broker-dealer.
Nevertheless, any additional cost of Trading Away is in addition to the Program Fee and, like all costs, will reduce the total return of your account enrolled in the program. The more frequently a Manager Trades Away, the greater the potential additional cost and the greater the potential reduction in total return. Please review this disclosure and additional information about Trading Away and other Manager trading practices in the Charles Schwab & Co., Inc. Disclosure Brochure for: Schwab Managed Account Services™ Wrap Fee Program; Schwab Managed Portfolios™ Wrap Fee Program; Schwab Financial Planning Services and/or the Schwab Wealth Advisory Disclosure Brochure in deciding whether to enroll in or remain enrolled in the program. If you have any questions, please contact your Schwab Financial Consultant or another Schwab representative.
The table below describes the self-reported frequency with which Managers engaged in Trading Away, and any additional cost associated with such trades, in program investment strategies during the time periods specified.
The information was provided by the Managers and has not been verified by Schwab. It is historical data about the Manager's past practice, and the Manager may not follow the same practice with the same frequency or resulting cost in the future. Additional information about your Manager's practices may be contained in your Manager's Brochure. If your Manager is not listed below, it is because they reported no Trading Away during the time period(s) shown.
table
Manager Name | Investment Strategy Name | Platform Participation | Dollar-Weighted Percentage of Client Trades "Traded Away"1 in 2024 | Average Additional Cost Incurred by Clients Participating in those Trades2 in 2024 |
---|---|---|---|---|
AllianceBernstein | AllianceBerstein Tax Aware Fixed Income Portfolio | Select | 86 | $0 |
Atlanta Capital Management Company LLC | Atlanta Capital (Calvert) Socially Responsible Equity | Select | 13 | $0 |
Atlanta Capital Management Company LLC | Atlanta Capital High Quality Select Equity | Select | 9 | $0 |
Atlanta Capital Management Company LLC | Atlanta Capital High Quality Small/Mid-Cap Core | Select | 60 | $0 |
BlackRock Inc | BlackRock Core Bond - SMA | Select | 100 | $0 |
Charles Schwab Investment Management, Inc. | Schwab Personalized Indexing Global Developed | Connection | 9 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | Selective Portfolios Core ETF Aggressive | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | Selective Portfolios Core ETF Conservative | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | Selective Portfolios Core ETF Growth | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | Selective Portfolios Core ETF Moderate | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | Selective Portfolios Core ETF Moderate Growth | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | Selective Portfolios Opportunistic Aggressive | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | Selective Portfolios Opportunistic Moderate Growth | Connection | 84 | No additional cost |
Charles Schwab Investment Management, Inc. | SWP Aggressive (Strat, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Aggressive (Strat, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Aggressive (Tact, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Aggressive (Tact, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Conservative (Strat, Muni Bond) | Connection | 18 | Launched October 2024. 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | SWP Conservative (Strat, Tax Bond) | Connection | 18 | Launched October 2024. 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | SWP Conservative (Tact, Muni Bond) | Connection | 18 | Launched October 2024. 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | SWP Conservative (Tact, Tax Bond) | Connection | 18 | Launched October 2024. 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Aggressive (Strat, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Aggressive (Strat, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Aggressive (Tact, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Aggressive (Tact, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Conservative (Strat, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Conservative (Strat, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Conservative (Tact, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Conservative (Tact, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Income (Strat, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Income (Strat, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Income (Tact, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Income (Tact, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Aggressive (Strat, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Aggressive (Strat, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Aggressive (Tact, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Aggressive (Tact, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Conservative (Strat, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Conservative (Strat, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Conservative (Tact, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Mod Conservative (Tact, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Moderate (Strat, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Moderate (Strat, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Moderate (Tact, Muni Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP ETF/MF Moderate (Tact, Tax Bond) | Connection | 18 (estimated) | Launched March 2025. $0.00 (estimated) |
Charles Schwab Investment Management, Inc. | SWP Income (Strat, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Income (Strat, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Income (Tact, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Income (Tact, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Aggressive (Strat, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Aggressive (Strat, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Aggressive (Tact, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Aggressive (Tact, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Conservative (Strat, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Conservative (Strat, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Conservative (Tact, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Mod Conservative (Tact, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Moderate (Strat, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Moderate (Strat, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Moderate (Tact, Muni Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | SWP Moderate (Tact, Tax Bond) | Connection | 18 | Launched October 2024. $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | TPI Balanced Income - Conservative | Connection | 66 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | TPI Balanced Income Strategy | Connection | 66 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Blend Aggressive | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Blend Conservative | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Blend Moderate | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Blend Moderately Aggressive | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Blend Moderately Conservative | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Blend Very Aggressive | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Custom 100% Fixed (FI) | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Custom 100% Fixed Tax-Exempt (Closed) | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive (FI) | Connection | 72 | 100% Fixed Income. No additional cost |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive Tax-Exempt (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive Tax-Exempt (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive Tax-Exempt (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive Tax-Exempt (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Aggressive Tax-Exempt (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Conserv (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Conserv (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Conserv (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Conserv Tax-Exempt (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Conserv Tax-Exempt (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Conserv Tax-Exempt (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr Tax-Exempt (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr Tax-Exempt (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr Tax-Exempt (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr Tax-Exempt (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Aggr Tax-Exempt (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv Tax-Exempt (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv Tax-Exempt (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv Tax-Exempt (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv Tax-Exempt (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Mod Conserv Tax-Exempt (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate Tax-Exempt (FI) | Connection | 72 | 100% Fixed Income. No additional cost. |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate Tax-Exempt (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate Tax-Exempt (USCore+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate Tax-Exempt (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Moderate Tax-Exempt (USDiv+FI) | Connection | 72 | 72% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | UMP Custom Very Aggr (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Very Aggr (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Very Aggr Tax-Exempt (USCore) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP Custom Very Aggr Tax-Exempt (USDiv) | Connection | 72 | $0.00 -$0.01 cps3 |
Charles Schwab Investment Management, Inc. | UMP ETF Aggressive | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Aggressive Tax-Exempt | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Conservative | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Conservative Tax-Exempt | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Moderate | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Moderate Tax-Exempt | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Moderately Aggressive | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Moderately Aggressive Tax-Exempt | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Moderately Conservative | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Moderately Conservative Tax-Exempt | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Very Aggressive | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | UMP ETF Very Aggressive Tax-Exempt | Connection | 72 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 1-10 Yr Taxable Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 1-12 Yr CA Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 1-12 Yr Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 1-5 Yr CA Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 1-5 Yr Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 1-5 Yr Taxable Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 3-12 Yr CA Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 3-12 Yr Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 3-7 Yr Taxable Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 5-10 Yr Taxable Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 5-15 Yr CA Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder 5-15 Yr Municipal Bond Ladder | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Core IG Credit | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Intermediate Bond | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Intermediate IG Credit | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Intermediate Strategic Tax-Exempt | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Intermediate Tax Exempt | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Multi-Sector Income | Connection | 17 | 17% Equities, 100% Fixed Income. $0.00 -$0.01 cps3 for Equities, $0 for Fixed Income |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Positive Impact Bond | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Positive Impact Tax Exempt | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Short Duration Bond | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Short Tax Exempt | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Strategic Tax Exempt | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Tax-Exempt VRDN | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Treasury Ladder 12 Month | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Treasury Ladder 24 Month | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Treasury Ladder 6 Month | Connection | 100 | No additional cost |
Charles Schwab Investment Management, Inc. | Wasmer Schroeder Ultra Short Duration Taxable Bond | Connection | 100 | No additional cost |
Cincinnati Asset Management | Cincinnati Investment Grade Corporate Bonds | Select | 100 | $0 |
Eagle Asset Management Inc | Eagle Asset Management High Quality Taxable | Select | 100 | For Fixed Income Step-Out trades clients receive institutional execution where there is a Institutional Bond Spread but no additional cost, except for certain types of trades done on electronic trading platforms i.e. Market Axess, Trade Web, Liquid Net, TRUMID & ICE TMC. See Below range of fees for various platforms from their respective fee schedules. |
Eagle Asset Management Inc | Eagle Asset Management Strategic Income Portfolio | Select | 100 | For Fixed Income Step-Out trades clients receive institutional execution where there is a Institutional Bond Spread but no additional cost, except for certain types of trades done on electronic trading platforms i.e. Market Axess, Trade Web, Liquid Net, TRUMID & ICE TMC. See Below range of fees for various platforms from their respective fee schedules. |
Eagle Asset Management Inc | Eagle Asset Mgmt Strategic Income Port with Muni | Select | 100 | For Fixed Income Step-Out trades clients receive institutional execution where there is a Institutional Bond Spread but no additional cost, except for certain types of trades done on electronic trading platforms i.e. Market Axess, Trade Web, Liquid Net, TRUMID & ICE TMC. See Below range of fees for various platforms from their respective fee schedules. |
Eagle Asset Management Inc | Eagle Vertical Income Portfolio | Select | 100 | For Fixed Income Step-Out trades clients receive institutional execution where there is a Institutional Bond Spread but no additional cost, except for certain types of trades done on electronic trading platforms i.e. Market Axess, Trade Web, Liquid Net, TRUMID & ICE TMC. See Below range of fees for various platforms from their respective fee schedules. |
GW&K Investment Management LLC | GW&K Balanced Income Strategy with Municipals | Select | 50-60 | Regarding the municipal bond sleeve of the balanced strategy, there are no additional explicit costs for client’s step-out trades in fixed income securities. As GW&K is an investment advisor and not a broker/dealer, we neither receive any economic benefit from trading activity, nor do we directly control the degree of mark-up or mark-down that may be applied by brokers we engage on behalf of our fixed income clients. That said, we have high conviction that our greatest opportunity to achieve best execution in municipal and taxable bond trading is to leverage institutional trading relationships, aggregate trade volume influence, regional and sector expertise, and other factors made available through having discretion over such transactions. Moreover, we believe through trading large blocks of bonds with institutional trading partners when compared to what most program sponsor desks may execute in smaller increments, perhaps even on an account-by-account basis, GW&K is not only not adding additional cost, but that clients are benefiting from our trading expertise and paying less. Not applicable to the equity sleeve of the balanced strategy. |
GW&K Investment Management LLC | GW&K Corporate Bond Opportunities Strategy | Select | 100 | There are no additional explicit costs for client’s step-out trades in fixed income securities. As GW&K is an investment advisor and not a broker/dealer, we neither receive any economic benefit from trading activity, nor do we directly control the degree of mark-up or mark-down that may be applied by brokers we engage on behalf of our fixed income clients. That said, we have high conviction that our greatest opportunity to achieve best execution in municipal and taxable bond trading is to leverage institutional trading relationships, aggregate trade volume influence, regional and sector expertise, and other factors made available through having discretion over such transactions. Moreover, we believe through trading large blocks of bonds with institutional trading partners when compared to what most program sponsor desks may execute in smaller increments, perhaps even on an account-by-account basis, GW&K is not only not adding additional cost, but that clients are benefiting from our trading expertise and paying less. |
GW&K Investment Management LLC | GW&K Municipal Bond Strategy | Select | 100 | There are no additional explicit costs for client’s step-out trades in fixed income securities. As GW&K is an investment advisor and not a broker/dealer, we neither receive any economic benefit from trading activity, nor do we directly control the degree of mark-up or mark-down that may be applied by brokers we engage on behalf of our fixed income clients. That said, we have high conviction that our greatest opportunity to achieve best execution in municipal and taxable bond trading is to leverage institutional trading relationships, aggregate trade volume influence, regional and sector expertise, and other factors made available through having discretion over such transactions. Moreover, we believe through trading large blocks of bonds with institutional trading partners when compared to what most program sponsor desks may execute in smaller increments, perhaps even on an account-by-account basis, GW&K is not only not adding additional cost, but that clients are benefiting from our trading expertise and paying less. |
GW&K Investment Management LLC | GW&K Short-Term Taxable Bond Srategy | Select | 100 | There are no additional explicit costs for client’s step-out trades in fixed income securities. As GW&K is an investment advisor and not a broker/dealer, we neither receive any economic benefit from trading activity, nor do we directly control the degree of mark-up or mark-down that may be applied by brokers we engage on behalf of our fixed income clients. That said, we have high conviction that our greatest opportunity to achieve best execution in municipal and taxable bond trading is to leverage institutional trading relationships, aggregate trade volume influence, regional and sector expertise, and other factors made available through having discretion over such transactions. Moreover, we believe through trading large blocks of bonds with institutional trading partners when compared to what most program sponsor desks may execute in smaller increments, perhaps even on an account-by-account basis, GW&K is not only not adding additional cost, but that clients are benefiting from our trading expertise and paying less. |
Invesco | Invesco SNW Short-Intermediate Municipal Impact | FALSE | 100 | $0 |
JPMorgan Investment Management Inc. | JP Morgan Intermediate-Term Municipal Bond | Select | 100 | $0 |
JPMorgan Investment Management Inc. | JP Morgan International Core ADR | Select | 30 | 8 bps4 |
Lazard Asset Management | Lazard Emerging Markets Equity Select ADR | Select | 16 | A credit of 1 cps3 to a debit of 8 cps3 |
Lazard Asset Management | Lazard Global Equity Select ADR | Select | 12 | A credit of 1 cps3 to a debit of 8 cps3 |
Lazard Asset Management | Lazard International Equity Select ADR | Select | 56 | A credit of 1 cps3 to a debit of 8 cps3 |
Madison Investment Advisors, LLC | Madison Intermediate Fixed Income | Select | 100 | $0 |
Natixis Advisors | Natixis/Loomis Sayles Core Total Return | Select | 100 | 2-7 basis points4. The average additional cost range shown reflects the potential additional spread cost for the respective Loomis Sayles strategy. |
Nuveen LLC (TIAA) | Nuveen Intermediate-Term Municipal Bond | Select | 99 | 1-10 bps4. |
Nuveen LLC (TIAA) | Nuveen Limited-Maturity Municipal Bond | Select | 99 | 1-10 bps4. |
Nuveen LLC (TIAA) | Nuveen Long-Term Municipal Bond | Select | 99 | 1-10 bps4. |
Nuveen LLC (TIAA) | Nuveen Moderate Aggressive Portfolio-Muni Bonds | Select | 9 | 1-10 bps4. |
Nuveen LLC (TIAA) | Nuveen Moderate Conservative Portfolio-Muni Bonds | Select | 32 | 1-10 bps4. |
Nuveen LLC (TIAA) | Nuveen Moderate Portfolio-Muni Bonds | Select | 25 | 1-10 bps4. |
Parametric Portfolio Associates LLC | Parametric 1-10 Year Corporate Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric 1-5 Year Corporate Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric 3-12 Year Municipal Bond Ladder-CA | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric 3-7 Year Corporate Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric 5-10 Year Corporate Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 1-14 Year Municipal Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 1-14 Year Municipal Bond Ladder-CA | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 1-8 Year Municipal Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 1-8 Year Municipal Bond Ladder-CA | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 3-12 Year Municipal Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 5-15 Year Municipal Bond Ladder | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric TABS 5-15 Year Municipal Bond Ladder-CA | Select | 100 | $0 |
Parametric Portfolio Associates LLC | Parametric CC-Russell 1000 | Select | 0 | .005 cps3 |
PIMCO | PIMCO 1-12 Year California Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-12 Year Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-12 Year New York Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-18 Year California Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-18 Year Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-18 Year New York Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-6 Year California Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-6 Year Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO 1-6 Year New York Municipal Bond Ladder | Select | 100 | $0 |
PIMCO | PIMCO Low Duration SMA | Select | 100 | $0 |
PIMCO | PIMCO Real Return | Select | 100 | $0 |
PIMCO | PIMCO Total Return | Select | 100 | $0 |
RNC Genter Capital Management | Genter Capital Balanced Growth Dividend Income | Select | 40 | $0 |
Seix Investment Advisors LLC | Seix High Yield Wrap SMA | Select | 100 | $0 |
Spectrum Asset Management | Spectrum Preferred Securities SMA | Select | 95 | No additional cost |
Spectrum Asset Management | Spectrum Preferred Tax Advantaged SMA | Select | 95 | No additional cost |
Stonebridge Advisors LLC | Stonebridge Advisors Preferred SMA | Select | 39.64 | $0 |
Stonebridge Advisors LLC | Stonebridge Advisors Preferred Tax Advantaged SMA | Select | 40 | $0 |