Each Participant in the Plan is eligible to open a Self-Directed Brokerage Account (SDBA) at Schwab, Fidelity, or TD Ameritrade. SDBAs are subject to the following fees paid by the participant:
- One-time, setup fee of $150 per Participant
- Recordkeeper annual fee of $50
- SDBAs can be established at any of the following custodians: Schwab, Fidelity, or TD Ameritrade
- Participant may choose to manage his or her SDBA (requires signing waiver/disclosure documents)
- Annual fee for FPL Capital Management to manage a Participant’s SDBA will range between $1,000 and $5,000 depending on desired level of service (See Appendix D for our Advisory Fee Schedule). A level 1 client’s fee is $1,000 per year. If a Participant would like to create a customized portfolio or include other personal account/assets, then they would need to upgrade to Level 2 or Level 3.
- All SDBA fees can be paid directly from the Participant. The Plan does not need to be responsible for SDBA fees.
For more information regarding the advisory fees for your managed Self-Directed Brokerage Account, please contact us at 1-888-401K-FPL.