Program Share definition
Examples of Program Share in a sentence
To the extent a mutual fund or a Program Share Class charges a 12b-1 fee, the fee will be paid to LPL by the mutual fund.
In some cases LPL earns recordkeeping compensation with respect to a Program Share Class but does not earn recordkeeping compensation, or earns less recordkeeping compensation, with respect to other share classes of the same fund that are not offered through the Program.
Such other comparable funds and/or share classes may be more appropriate for a client than the fund or Program Share Class offered through the Program.
A Participant’s aggregate liability towards the other Participants collectively for direct damages (i.e. such damages other than set out in Section 5.5.) shall be limited to the Participant’s Program Share with a minimum of [amount] and a maximum of [amount] and provided such damage was not caused by a wilful act or gross negligence.
Program Share classes are selected by LPL in certain cases because the share class pays LPL compensation for the administrative and recordkeeping services LPL provides to the mutual fund.
Some mutual funds and Program Share Classes in MWP charge shareholders a 12b-1 fee.
Clients should understand that the Program Share class offered for a particular mutual fund through a Program in many cases will not be the least expensive share class that the mutual fund makes available.
Such other comparable funds and/or share classes may be more appropriate for a client than the fund or Program Share Class offered through the Programs.
Some mutual funds and Program Share Classes in MWP charge shareholders an asset-based fee, known as a “12b-1” fee, to cover distribution expenses and, in some cases, shareholder servicing expenses.
Client expressly waives LPL's duty of best execution in connection with purchases of the Program Share class, insofar as the recordkeeping and other expenses make it a more expensive share class than Client otherwise would be eligible to purchase had LPL chosen to make that share class available.