In addition to your Ellevest plan fees, there may be other costs associated with your account.
The FINRA fee appears as a Self Regulated Organization (aka SRO) fee on your account. When securities are sold, our custodian, Goldman Sachs Custody Solutions, charges this fee and passes it along to fund its government-sanctioned regulator, FINRA. The SRO fee is now approximately $0.000022 for each dollar of securities sold ($0.22 on a $10,000 sale). Assets held in the Emergency Fund goal (and any funds invested in cash) are not subject to this fee.
Brokerage, Clearing and Service Provider Charges: Ellevest’s fees do not cover charges imposed by the broker-dealer (the firm through which we arrange for securities transactions to occur). These fees include, but are not limited to, service fees, IRA fees, mutual fund fees including sales load and other operating expenses on a fund. The prospectus or offering documents for mutual funds, or other investments will detail the fees and charges assessed by the managers of those products. Thus, when assets are invested in shares of mutual fund or ETF products, clients will pay both the management fees to Ellevest for its services in connection with these investments and management and other fees paid to the mutual fund or other product. In addition, there may be tax effects relating to fund share redemptions or the cancellations of policies made by or on behalf of clients, as well as deferred sales charges or redemption fees where the investment positions are sold prior to the expiration of a specified holding period.
Other Charges: The Ellevest Fee does not cover additional fees charged by Goldman Sachs Custody Solutions or other entities, such as wire transfer fees, paper statement fees, bounced checks fees, margin extension fees, safekeeping fees, termination fees and early redemption penalties. The Goldman Sachs Custody Solutions pricing page can be found here. Note that Ellevest clients do not pay the IRA custodial fee.
There are no fees associated with withdrawing your funds. If you're looking to transfer an account to another provider, there are additional fees involved. Click here for more information.