Wealth Management

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Investor Account Protection

At Ziegler, we have been providing tailored financial solutions for over 100 years. We understand that for clients, history alone does not bring peace of mind — clients want to know that they are with a strong, stable financial institution. To provide our clients with the greatest amount of protection, Ziegler has a long-standing partnership with Pershing, LLC (Pershing) as our custodian and clearing company.

 

Pershing has been a leading global provider of financial business solutions for almost 75 years and serves many of the world’s most respected financial organizations, remaining focused on the safekeeping, servicing, segregation and reporting of assets held in their custody. Pershing’s parent company, The Bank of New York Mellon Corporation, is one of the world’s strongest global financial institutions, holding $29.1 trillion in assets under custody and administration as of March 31, 2016. The Bank of New York Mellon remains highly liquid, as it is funded primarily by deposits from institutional businesses.

 

Pershing is well capitalized and their capital ratios exceed those required by regulators. As of March 31, 2016, Pershing operated with total net capital of $1.5 billion — well above the minimum required by the Securities Exchange Commission (SEC). Pershing serves global financial organizations exclusively, free of conflicts.

 

A Ziegler financial advisor will handle all matters related to your account.

SIPC/FDIC

SUMMARY OF SIPC ACCOUNT PROTECTION


Pershing and Ziegler are members of the Securities Investor Protection Corporation (SIPC®). As a result, investor-owned assets held in custody by Pershing are protected by SIPC, up to $500,000 in value, including $100,000 in cash awaiting reinvestment. SIPC provides protection for eligible client assets held in custody by a SIPC member brokerage firm should the SIPC member firm fail financially and become unable to meet the obligations to its clients. SIPC does not protect assets that are not held in custody by a SIPC member. SIPC does not protect against losses due to market fluctuation or for client assets not held by a SIPC member. For more information about investor asset protection, visit SIPC's web site. In addition to SIPC protection, Pershing also provides coverage in excess of SIPC limits through Lloyds of London.


LLOYD'S OF LONDON — PROVIDING EXCESS ACCOUNT PROTECTION


The excess insurance policy purchased through Lloyd’s of London provides the following excess account protection for assets held in custody with Pershing and its London-based affiliate, Pershing Securities
Limited:

  • An aggregate loss limit of $1 billion for eligible securities — over all client accounts
  • A per client loss of $1.9 million for cash awaiting reinvestment — within the aggregate loss limit of $1 billion

This excess account protection offers the highest level of coverage available in the industry today. Excess account protection claims would only arise where Pershing failed financially and eligible client assets or covered accounts, as defined by SIPC and Lloyd’s of London, cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of Ziegler clients’ securities or to maintain the special reserve bank account required by applicable rules (SEC 15c-3).

For more information about Lloyd’s of London, please visit their web site.


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) INSURANCE


The Federal Deposit Insurance Corporation (FDIC®) is an independent agency of the U.S. government that provides protection for insured deposits at a failed FDIC-insured bank. FDIC-insured investments are insured by the FDIC up to applicable limits, generally $250,000. In the case of Pershing’s FDIC-Insured Deposits Program and the Certificate of Deposit Account Registry Service® (CDARS®), investors can access FDIC insurance for deposits in multiple FDIC insured institutions with a single investmetnt.1,2 Pershing also offers investors access to Brokered CDs and FDIC-insured bonds.


Brokered CDs are certificates of deposit of a commercial bank or savings and loan association that are sold through an intermediary instead of the savings and loan institution itself. Brokered CDs are covered by FDIC insurance up to applicable limits and are available in both the new issue and secondary markets in maturities as short as one month to as long as 10 or more years.


FDIC-insured bonds were created by the FDIC’s new Temporary Liquidity Guarantee Program. The program guarantees newly issued senior unsecured debt of eligible institutions — issued on or after October 14, 2008, and before June 30, 2009. It also provides full deposit insurance coverage for non-interest-bearing deposit transaction accounts in FDIC-insured institutions, regardless of the dollar amount.


For additional information about the financial strength of Pershing and the protection of investors’ assets held in custody, visit the safety and soundness section on www.pershing.com. For more information about the FDIC, visit www.fdic.gov.


INVESTOR PROTECTION FOR YOUR INSURANCE PRODUCTS


How are policyholders protected, in the event that the insurer fails? Most states have guaranty funds to help pay the claims of financially impaired insurance companies. State laws specify the lines of insurance covered by these funds and the dollar limits payable. Coverage is usually for individual policyholders and their beneficiaries and not for values held in unallocated group contracts. Most states also restrict insurance agents and companies from advertising the funds’ availability.


WHAT HAPPENS IF AN INSURANCE COMPANY GOES INSOLVENT?


The failure of an insurance company is administered differently than other business bankruptcies. This is because insurance is regulated by the states and failures are not governed by federal bankruptcy law.


When an insurance company becomes insolvent and is unable to pay outstanding claims, a state’s courts and the insurance commissioner begin a legal process to determine appropriate action for the company.


There are several approaches a commissioner might take with a troubled company. He or she might opt for conservation, a judicial proceeding that gives the commissioner direct control over the assets of an insurer. Another step a commissioner might take prior to liquidation is placing the company into rehabilitation.

 

1 Investments in the FDIC-Insured Deposits Program are not considered securities and are therefore not protected by SIPC or excess account protection coverage.

 

2 CDARS is a service provided by Promontory Interfinancial Network, LLC. Pershing, Promontory, and The Bank of New York Mellon are affiliated through common ownership. The Bank of New York Mellon Corporation is the ultimate parent company of Pershing and the Bank of New York Mellon. The Bank of New York Mellon Corporation holds a minority interest in Promontory.

 

3 The Life and Health Insurance Guaranty Association System Publication, The Answers You Need.

 

B.C. Ziegler and Company is a registered broker-dealer and not a bank and does not offer bank accounts. Some products offered through Ziegler may be FDIC-insured. Consult your Ziegler financial advisor for more information regarding the securities held in your Ziegler account.

Partners

Ziegler works with a number of partners to provide mutual fund, asset management, annuities and insurance assistance. Below is a listing of just a few of our partners we currently work with.

 

Mutual Fund / Asset Management

  • Lord Abbett & Co.
  • Federated Investors
  • First Trust Advisors
  • Franklin Templeton
  • American Funds
  • JP Morgan Asset Management
  • Invesco
  • John Hancock Funds
  • Russell Investments
  • Sentinel Investments

Annuities and Insurance

  • AIG
  • Forethought Financial
  • Lincoln Life
  • Jackson National
  • Prudential

Library


The above is a small sampling of educational product and service literature offered by Ziegler. For additional information, contact your Ziegler financial advisor, or find the advisor closest to you.

Research

Morningstar Analyst Research
Ziegler is partnered with Morningstar® Institutional Research to provide independent research on companies, sectores, investment themes and the markets. Ziegler advisors can leverage access to Morningstar’s team of over 120 analysts to provide unbiased investment research for our clients.

 

Ziegler Research
Ziegler is committed to helping investors and borrowers develop a greater understanding of one another. Ziegler Research is an assembly of financial and credit analysts committed to providing investors with research on a selected subset of securities consisting of Ziegler underwritten municipal bonds. Ziegler Research is separate from Ziegler’s investment banking and capital markets businesses. The analysts rely only on publicly available information to generate its opinions and reports. Our published research carries an analyst certification as to the objectivity of the opinions rendered.

 

In addition, our continuing disclosure program enables a borrower’s senior management team to periodically interact and field questions from investors who own, or are interested in owning, their bonds.

 

Through continuing disclosure, public investor calls and published research reports, Ziegler Research has been recognized nationally for their excellence in research and disclosure in promoting investor relations and “best practice” continuing disclosure activities.*

 

ZIEGLER RESEARCH-SPONSORED CONTINUING DISCLOSURE CALLS (UPCOMING & REPLAY INFORMATION)

Master List as of October 9, 2017

 

*Smith's Research & Gradings, National Federation of Municipal Analysts

Calculators

College Savings Calculator
With college costs increasing at twice the rate of inflation, it is important to start saving early. Interest working for you now in a regular savings program is much better than having interest work against you in the future in the form of education loans.

Life Insurance Estimator
Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step usually requires the purchase of a life insurance policy to ensure that your family's needs will continue to be met, even after your untimely death cuts your earnings potential short.

 

Tax Equivalent Yield Calculator
Learn how much your taxable investment needs to return in order for you to achieve an equivalent yield to that of a comparable tax-exempt security. For example, investors filing a joint return in the 25% tax bracket need to receive a 6.67% return on a taxable investment in order to equal a 5% tax-exempt yield. See how the tax-exempt advantage can keep more of your investment income working for you.

RMD Calculator
Current tax law specifies that once you reach age 70½ you must begin making taxable withdrawals from your IRAs and many other retirement plans. These minimum distributions are calculated annually based on your age, plan balance at the end of the previous year, marital status and spouse's age. If you do not meet the annual minimum distribution, you may be subject to a 50% penalty on your underpayment, plus ordinary income tax as the funds are withdrawn. You must be AT LEAST 70½ years of age to use this calculator, younger plan owners are not subject to the required minimum distribution rules.

 

Retirement Savings Calculator
Retirement can be the saddest or happiest day of your life. This pre-retirement calculator will help you determine how well you have prepared and what you can do to improve your retirement outlook. It is important that you re-evaluate your preparedness on an ongoing basis. Changes in economic climate, inflation, achievable returns, and in your personal situation will impact your plan.

Roth Vs. Traditional Comparison
Your retirement income can vary widely depending on what type of account holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods. Use this calculator to help compare employee contributions to the new after-tax Roth 401(k) and the current tax-deductible 401(k).

Find A Financial Advisor

To Find a Financial Advisor, visit our Find an Advisor page.

Careers

It's an exciting time to work with Ziegler! Ask our associates and you'll hear them use these words to describe our firm and the work we do on behalf of our clients:

 

  • Integrity
  • Boutique
  • A leader in our niches
  • Breadth of experience
  • Community service
  • Client first
  • Innovation
  • Mission-driven values
  • Creative and sophisticated approach
  • A century of experience

 

To apply, visit our Careers page and submit a resume.

Account Terms & Conditions

Effective April 1, 2017 | For accounts clearing through Pershing, LLC, a subsidiary of The Bank of New York Mellon Corporation

TABLE OF CONTENTS

Section 1: Terms and Conditions
  Section 2: Pre-Dispute Arbitration Agreement
  Section 3: Privacy Policy
  Section 4: Business Continuity Plan Disclosure
  Section 5 Account Fees

SECTION 1: TERMS AND CONDITIONS

1. Meaning of Words in this Agreement. The words “I,” “me” and “my” refer to the person(s) who have signed the New Account Application. The words “you” and “your” refer to Ziegler Wealth Management, a division of B.C. Ziegler and Company.

2. Nature of Services Provided. I appoint you as my agent for the purpose of carrying out my directions with respect to the purchase or sale of securities. You are authorized to open or close my account, place and withdraw orders, and take such other steps as are reasonable to carry out my directions. I understand that at any time you may, in your discretion, refuse to carry out my directions. I understand that you have entered into an Agreement with Pershing LLC (Pershing), member FINRA, NYSE, SIPC, a subsidiary of The Bank of New York Mellon Corporation, to execute and clear brokerage transactions. I further understand that margin loans, if any, provided to me will be made by Pershing and not you or my financial institution. I acknowledge that you do not and will not give legal or tax advice.

3. Applicable Rules and Regulations. All transactions through you, are subject to the constitution, rules, regulations, customs and usages of the exchange or market (and its clearing house, if any), where executed as well as to any applicable federal or state laws, rules and regulations, including rules and regulations of self-regulatory organizations.

4. Security Interest. All securities and other property now or hereafter held, carried or maintained for any of my accounts, now or hereafter opened, including accounts in which I may have an interest, shall be subject to a lien for the discharge of all my indebtedness and other obligations to you and are held as security for the payment of my liability or indebtedness to you. You shall have the right to sell, assign or transfer securities and any other property so held from or to any other of my accounts whenever in your judgment you consider such a transfer necessary for your protection in enforcing your lien. You shall have the discretion to determine which securities and property are to be sold and which contracts are to be closed. No provision of this Agreement concerning liens or security interests shall apply to the extent such application would be in conflict with any provision or ERISA or the Internal Revenue Code relating to retirement accounts.

5. Payment for Order Flow. Client orders for execution transmitted to various exchanges or market centers are based on a number of factors. These include size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing and reduced execution costs through price concessions from the market centers. Certain market centers may execute orders at prices superior to the publicly quoted market in accordance with their rules or practices. While I may specify that an order be directed to a particular market center for execution, the order-routing policies, taking into consideration all of the factors listed above, are designed to result in favorable transaction processing for me. You may receive remuneration, compensation or other consideration for directing client orders for equity securities to particular broker/dealers or market centers for execution. Such consideration may take the form of financial credits, monetary payments or reciprocal business. Specific information regarding payment for order flow which may have been received for transactions in my account is available upon written request. A full description of Ziegler’s equity order flow can be found online.

6. Cancellation of Written Orders. You are authorized, at your discretion and subject to applicable law, that should I die or should you for any reason whatever deem it necessary for your protection, without notice, to cancel any outstanding orders in order to close out my accounts, in whole or in part, or to close out any commitment made on my behalf.

7. Payment Upon Demand. I shall at all times be liable for the payment upon demand of any debit balance or other obligations owing in any of my accounts, and I shall be liable to you for any deficiency remaining in any such accounts in the event of the liquidation thereof, in whole or in part, by you or by me, and I shall make payment of such obligations and indebtedness upon demand. All transactions in any of my accounts are to be paid for or securities delivered no later than 2:00 p.m. Eastern Standard time on the settlement date. I agree that if after demanded by you, I fail to pay the indebtedness or make delivery, you may close my account and liquidate the assets in such account, and in all other accounts with you in which I have an interest, in any amount sufficient to pay my indebtedness.

8. Liability for Costs of Collection. I shall reimburse you on all incurred reasonable costs and expenses of collection of the debit balance or any unpaid deficiency in my account including, but not limited to, attorney’s fees.

9. Client Service Center and Maintenance Fee. At any time, you shall have the right to service my account through your Client Service Center. Subject to your prior written notice, you may sell, transfer or distribute to me all currently held securities or any other property. You shall have the discretion to determine which securities and property are to be sold and which accounts are to be closed. Notwithstanding the foregoing, no provision of this Agreement concerning small accounts shall apply to the extent that such application would be in conflict with any provision of ERISA or the Internal Revenue Code relating to retirement accounts.

10. Communications. Communications may be sent to me at the address designated on the application or at such other address as I may hereafter give you in writing, and all communications so sent, whether by mail, telegraph, messenger or otherwise, shall be deemed given to me personally, whether actually received or not. Reports of executions or orders and statements of my account shall be conclusive if not objected to in writing within five (5) days, and ten (10) days, respectively, after transmitted to me by mail or otherwise. I understand that you will not accept buy or sell (including short sale) instructions nor any other instructions regarding my account sent to you by me via any electronic mail or voice messaging system.

11. Affiliations. I will not buy or sell any securities of a corporation of which I am an affiliate or control person, nor shall I sell any restricted securities except in compliance with applicable laws and regulations and upon notice to you that I am an affiliate or that the securities are restricted.

12. Extraordinary Events. You shall not be liable for loss, caused directly or indirectly by war, natural disasters, government restrictions, exchange or market rulings or other conditions beyond your control, including but not limited to extreme market volatility or trading volumes.

13. Settlement Sweep. For securities sold or purchased through you and any resulting debit or credit balances, I hereby authorize you to automatically settle all transactions through my money market fund, as designated on the application or subsequent authorization you may receive from me. In the event that I carry a margin account, I further authorize you to transfer from my designated settlement account any sums necessary to maintain the required minimum equity in such margin accounts. My account statement details all activity in the money market fund. This is provided in lieu of a confirmation that might otherwise be provided to me with respect to those transactions.

14. Joint Accounts. If this is a joint account, “I” refers to all account holders, and each of the account holders jointly and severally agrees that any account holder has authority on behalf of the joint account to:

  • buy, sell (including short sales) and otherwise deal in stocks, bonds, options, and other eligible securities or other investments on margin or otherwise;
  • receive demands, notices, confirmations, reports, statements of account and communications of every kind on behalf of the joint account;
  • receive money, securities and property of every kind and dispose of the same on behalf of the joint account;
  • make Agreements relating to any of the foregoing matters and to terminate, modify or waive any of the provisions of the Agreement on behalf of the joint account; and
  • deal with you as fully and completely as if he (she) alone were interested in this account and without notice to the other account holders.

All obligations and liabilities arising under this account are joint and several and may be enforced by you against any or all account holders. You are authorized to follow the instructions of any joint account holder, without notice to any other account holder, in every respect and to deliver any or all monies, securities, or other property to any joint account holder upon the instructions of any joint account holder, or to any other person upon such instruction, even if such delivery or payment is to that joint account holder personally and not to the other(s). You will be under no obligation to inquire into the purpose or propriety of such delivery or payment and are not bound to inquire into the disposition or application of such delivery or payment. This authority remains in force until written notice to the contrary is addressed and delivered to you at your office. You, in your sole discretion and for your sole protection, may terminate the account upon receipt of such notice and may require the written consent of all account holders prior to acting upon the instructions of any account holder.

15. Governing Law; Successors. This Agreement and its enforcement shall be governed by the laws of the state of Illinois; shall cover individually and collectively all accounts which I may open or reopen with you, and shall inure to the benefit of your successors, whether by merger, consolidation or otherwise, and assigns and you may transfer my account to your successors and assigns, and this Agreement shall be binding upon my heirs, executors, administrators, successors and assigns.

16. Severability. If any provision of this Agreement is held to be invalid, void or unenforceable by reason of any law, rule, administrative order or judicial decision, that determination shall not affect the validity of the remaining provisions of this Agreement.

17. Waiver. No provision of this Agreement can be, nor be deemed to be, waived, altered, modified or amended unless agreed to in writing and signed by you.

18. Amendments and Termination. You may amend this Agreement at any time effective upon notice to me. You may, at your discretion, terminate the services at any time effective upon notice to me. I will continue to be responsible for any obligation incurred by me prior to termination.

19. Fees and Charges. I agree to the fees and charges indicated on your fee schedule. You may change the fee schedule from time to time.

20. Notice of Relationship. I have entered into a transaction with B.C. Ziegler and Company. I understand that B.C. Ziegler and Company and all subsidiaries of The Ziegler Companies, Inc. are related. I understand that I may not be compelled to buy any product or service from any of these companies in order to participate in a transaction.

21. Margin Interest. If I elect to have and am approved for a margin account, the interest charged is based on Pershing’s Base Lending Rate (PBLR), an assessment of commercially recognized interest rates, industry conditions related to the extension of credit, and general credit market conditions. The PBLR can change due to fluctuation in these industry rates, and may be discounted for larger debit balances. If applicable, interest charges are posted to my account once every month. Ziegler reserves the right to increase or decrease the PBLR over and above changes within the market place without notice. Current rates are shown on monthly statements or I can contact my financial advisor for current information.

22. Client Identification Requirements. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. I understand that when I open an account, you will ask for my name, address, date of birth, and other information that will allow you to identify me. You may also ask me to provide a copy of my driver’s license or other identifying information. Internal sources and third party vendors may use the information I provide in this form to perform a credit check and to verify my identity.

23. SIPC Notification. Clients may obtain information about SIPC, including the SIPC brochure, by contacting SIPC at Securities Investor Protection Corporation, 805 15th Street, NW, Suite 800, Washington, DC 20005-2215 or at http://www.sipc.org or 202 371 8300.

24. Client Education and Protection. The Financial Industry Regulatory Authority, Inc.’s (FINRA) BrokerCheck allows the public to obtain current regulatory information about FINRA member firms and financial advisors. Clients can get more information, including an investor brochure that includes information describing FINRA BrokerCheck, by calling its BrokerCheck hotline at 800.289.9999 or by visiting its http://brokercheck.finra.org/.
________________________________________

If I feel that I have been compelled to purchase any product or service from any of these related companies in order to participate in a transaction, I may contact:

B.C. Ziegler and Company
200 South Wacker Drive | Suite 2000
Chicago, Illinois 60606
800 366 8899

SECTION 2: PRE-DISPUTE ARBITRATION AGREEMENT

THIS AGREEMENT CONTAINS A PREDISPUTE ARBITRATION CLAUSE. BY SIGNING THE ARBITRATION AGREEMENT THE PARTIES AGREE AS FOLLOWS:

 I. ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A TRIAL BY JURY, EXCEPT AS PROVIDED BY THE RULES OF THE ARBITRATION FORUM IN WHICH A CLAIM IS FILED.

 II. ARBITRATION AWARDS ARE GENERALLY FINAL AND BINDING;  A PARTY’S ABILITY TO HAVE A COURT REVERSE OR MODIFY AN ARBITRATION AWARD IS VERY LIMITED.

 III.   THE ABILITY OF THE PARTIES TO OBTAIN DOCUMENTS, WITNESS STATEMENTS AND OTHER DISCOVERY IS GENERALLY MORE LIMITED IN ARBITRATION THAN IN COURT PROCEEDINGS.

 IV.   THE ARBITRATORS DO NOT HAVE TO EXPLAIN THE REASON(S) FOR THEIR AWARD, UNLESS IN AN ELIGIBLE CASE, A JOINT REQUEST FOR AN EXPLAINED DECISION HAS BEEN SUBMITTED BY ALL PARTIES TO THE PANEL AT LEAST 20 DAYS PRIOR TO THE FIRST SCHEDULED HEARING DATE.

 V.   THE PANEL OF ARBITRATORS MAY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY.

 VI. THE RULES OF FINRA ARBITRATION MAY IMPOSE TIME LIMITS FOR BRINGING A CLAIM IN ARBITRATION. IN SOME CASES, A CLAIM THAT IS INELIGIBLE FOR ARBITRATION MAY BE BROUGHT IN COURT.

 VII. THE RULES OF THE FINRA ARBITRATION FORUM AND ANY AMENDMENTS THERETO, SHALL BE INCORPORATED INTO THE AGREEMENT.

ANY AGREEMENT TO ARBITRATE CONTROVERSIES BETWEEN YOU AND US SHALL BE SUBMITTED TO FINRA IN ACCORDANCE WITH ITS RULES. ARBITRATION MUST BE COMMENCED BY SERVICE UPON THE OTHER PARTY OF A WRITTEN DEMAND FOR ARBITRATION OR A WRITTEN NOTICE OF INTENTION TO ARBITRATE.

 NO PERSON SHALL BRING A PUTATIVE OR CERTIFIED CLASS ACTION TO ARBITRATION, NOR SEEK TO ENFORCE ANY PRE-DISPUTE ARBITRATION AGREEMENT AGAINST ANY PERSON WHO HAS INITIATED IN COURT A PUTATIVE CLASS ACTION; OR WHO IS A MEMBER OF A PUTATIVE CLASS ACTION WHO HAS NOT OPTED OUT OF THE CLASS WITH RESPECT TO ANY CLAIMS ENCOMPASSED WITH RESPECT TO ANY CLAIMS ENCOMPASSED BY THE PUTATIVE CLASS ACTION UNTIL: (I) THE CLASS CERTIFICATION IS DENIED; (II) THE CLASS ACTION IS DECERTIFIED; OR (III) THE CLIENT IS EXCLUDED FROM THE CLASS BY THE COURT. SUCH FORBEARANCE TO ENFORCE AN AGREEMENT TO ARBITRATE SHALL NOT CONSTITUTE A WAIVER OF ANY RIGHTS UNDER THIS AGREEMENT EXCEPT TO THE EXTENT STATED HEREIN.

SECTION 3: PRIVACY POLICY

It is the policy of Ziegler to maintain the security and confidentiality of all client information. We do not sell, nor make available, personally identifiable client information to non-affiliated parties, except for the limited circumstances described in the following paragraph. This policy covers all types of personally identifiable client information, including personal and financial information provided by clients at the time they open accounts, ongoing transactional activity within accounts, and other personal or financial data furnished to Ziegler by clients in the course of the account relationship. These policies apply to all of our clients who are individuals, and to brokerage, entity and investment advisory accounts.

As permitted by law and in order to service your account(s) with our Company, Ziegler does provide limited personally identifiable client information described above to certain third party service providers such as Ziegler’s clearing agent; affiliates with whom we have a marketing agreement for the performance of marketing services on our behalf; and custodians of investment advisory accounts. In each case, we have received assurance from the third party that its respective policies are in accord with our own. We may disclose or report personally identifiable client information in limited circumstances where we believe in good faith that disclosure is required or permitted by law, for example, to cooperate with regulators or law enforcement authorities, to respond to garnishment complaints and executions, resolve client disputes, perform credit or authentication checks, or for institutional risk control.

If you choose to access the areas of our Web site that are designed exclusively for account holders, you are required to provide an individually selected password. Your password is your key to access your account information. You are responsible for maintaining the confidentiality of your password. You may change your password, and are encouraged to do so at regular intervals to further protect the confidentiality of your non-public personal information. If you share your password with anyone, that other person will gain complete access to your account and related personal information.

 Ziegler collects non-public personal information about its clients from the following sources:

     
  1.   Account applications;
  2.  
  3.    Information related to transactions for the account of clients; and
  4.  
  5.    Information received from ancillary sources, such as consumer reporting agencies, in the course of providing financial services to clients.
     

The categories of information we collect include personal vital statistics, Social Security numbers and personal financial data about our clients’ financial circumstances and objectives.

 We restrict access to non-public personal information about you to those employees who need to know that information to provide products or services to you. We have developed and maintain physical, electronic, and procedural safeguards to guard your non-public personal information.

SECTION 4: BUSINESS CONTINUITY PLAN SUMMARY

Ziegler has developed a Business Continuity Plan. We recognize the importance of preparing for disaster scenarios and the importance of taking the necessary steps to provide for business continuity and contingency planning.

 Ziegler’s Continuity Plan (the “Plan”) identified means by which Ziegler will respond to disasters including its ability to continue serving client needs and provide access to funds and securities.

 Our Plan addresses the business units and information technology assets necessary to support operations critical to the Company. Ziegler maintains backup facilities, which are equipped and designed to sustain our critical operations until we can return to our regular facilities or occupy new facilities. The Plan, in addition to the necessary facilities and technology supporting it, are regularly reviewed and adjusted as necessary.

The Company’s response to business disruptions will be dependent upon whether utilities and the industry exchanges have been affected. In the event of any significant disaster, the Company will bring together resources to determine the course of action that will allow for efficient communication to clients and employees, while also ensuring clients access to their funds and securities.

We have developed the Plan to ensure that our business operations will go on so that we can fully serve our clients, shareholders, and employees in good times and in bad times. While Ziegler believes the above to be a fair and accurate representation of the Plan, it may from time to time amend or revise the Plan as necessary to support current business needs and developments. A full description of Ziegler’s Business Continuity Plan can be found here.

SECTION 5: ACCOUNT FEES

Type of Fee

Fee

Collection fee – bond redemptions
Not sold or underwritten by Ziegler No Charge
In account (street name) No Charge
Physical delivery $30
Estate evaluation $200
Loan processing fee $50
Handling charge (for confirmation charge) $6
Lost securities processing $100
Transfers:
Legal, GNMA and restricted items $100
Foreign Receive and Deliver Fees:
Agent Bank Fee – Local Market Delivery $75
Agent Bank Fee – Euroclear Free Deliver $50
Agent Bank Fee – Local Market Receive $75
Agent Bank Fee – Euroclear Free Receives $50
Clearance Fee Acats $125
Euro Clear Acats $125
Foreign Settlement fees1:
Australia | AUD 50 US $30
Canada | CAD 40 US $30
Accommodation transfer (securities interchange)
Ziegler-underwritten issues No Charge
With legals No Charge
Non-Ziegler-underwritten issues $75
With legals $100
Securities deposited for Street Name safekeeping No Charge
Securities to be deposited with legals $100
Stock/bond certificate issuance
Security certificate register and ship $60
Security direct registration with transfer agent $10
Wire transfer $30
Certified check delivery $12
Insufficient funds – disbursement error $30
Uncollected funds $30
Voided check $20
Overnight fees
Standard delivery $25
Saturday delivery $35
DK Items (Institutional Account – Failed Delivery Charge)
US $25 per item
Non-US $25 per item/per day
Reg T extensions $20
Returned checks/ACH $25
Stop payment $25
Corestone Account fees
Annual Fees
Silver account2 $25
Silver Plus account $50
Gold Account $100
Platinum Account $150
Corporate Gold Account $250
Checking and Visa Fees
Stop payment on checks3 $25
Returned checks or ACH debits (for any reason) $30
Copy of paid check or Visa draft $2.50
ATM access4 None
Personal Checks
Initial order No charge
Reorder for Silver and Silver Plus accounts $12.50
Reorder for Gold $10
Reorder for Platinum $7.50
Carbon Copy Checks
Initial order $15
Reorder $25
Business Checks
Initial order $50
Reorder $40
Reorder binder $20
Cash Advance Fee (non-ATM) .25% of principal, $2.50 minimum
Reorganization activities
Voluntary $30
Mandatory
In account No Charge
Physical $30
Retirement accounts — annual maintenance5
Traditional IRAs Roth IRAs, SEPs and Education Savings Accounts $60
Mutual fund only IRAs, Roth IRAs and QRPs $12
Qualified Retirement Plans $58.50
Individual(k), Simplified 401(k), Simplified Profit Sharing/MPP $75
Flex 401(k), Flex Profit Sharing/MPP $125
Retirement accounts – conversion & termination fees
Conversion Fee – Between Multi-Product and
Mutual Fund Only Traditional or Roth IRAs
$50
Roth IRA Conversion No Charge
Retirement account termination fee5 $125
Portfolio Evaluation Service (PES) $0
Special products – limited partnerships, private placements and real estate investment trusts
Document compatibility review fee – charged regardless of review outcome $100
Processing fee for unrelated business taxable income tax returns (IRS Form 990-T), payable annually $200
Equity dividend reinvestment No Charge
Cash-due interest6 PBLR+300 bps
Account transfer processing, incoming accounts No Charge
Account transfer processing fee, outgoing accounts $150
Transfer on Death fees
To set up an account with up to four (4)  beneficiaries No Charge
Charge per beneficiary more than initial four $25
To change an existing agreement $50
Charge to account to distribute assets at death $150
Plus charge for each beneficiary $50
Ziegler account maintenance fee7 $75
Historical document research $50/hour, plus mailing costs
Mutual Fund Surcharge8 $10
No-load mutual fund purchase and redemption fee $75
Online trading commission $29.95 plus $0.03 per share over 1,000 shares
Ziegler Portfolio Performance Reporting $0
Sell-out processing fee9 $15
Fundvest Program Fees for Participating Funds
Trades Below Fund Minimums $20
Short-term Redemptions (held less than six calendar months – includes exchanges) $50
Systematic redemptions below minimum trade $3
Systematic short-term redemptions (held less than six calendar months – includes exchanges) $5

1 Other foreign settlement fee information is available upon request.

2 The $25 annual silver waived for Corestone accounts that have $25,000 or more (average month-end closing case sweep balances). Effective July 2012 and billed on the account anniversary date

3 No charge for Platinum account holders

4 Individual banks may assess ATM usage fees.

5 Retirement account fees effective June 1, 2017.

6 Cash-due interest is charged to any account that has not settled on settlement day. Interest charged may be up to 300 basis points above the Pershing Base Lending Rate (PBLR). PBLR will be set with reference to commercially recognized interest rates, industry conditions relating to the extension of credit, and general credit market conditions. The PBLR will change without prior notices and is assessed on the market value of the unsettled trades (securities or cash not in the account).

7  Fee charged to accounts with a balance less than $50,000 at the end of the previous calendar year.

8  This fee applies to purchases and redemptions only of specified mutual fund companies. Please consult your financial advisor for a list of applicable fund companies.

9 Sell-out processing fee is assessed to recover costs associated with liquidating transactions as a result of delinquent margin calls and unpaid cash debits from trade activity and/or fee assessment. This fee is in addition to any commission incurred as a result of the liquidation. You can avoid this fee by either initiating a sale of securities to pay for the debit or remitting timely payment.

Fee schedule subject to change. Fees effective as of April 1, 2017, unless otherwise noted.

 

†All checks require five business days to clear. Returned checks subject to charge.