FEES
GWN Securities, Inc. (the advisor) shall collect a quarterly fee equal to a Percentage of the market value of all assets held within the Advisory Account on the last business day of the quarter or upon withdrawal from the Advisory Account prior to quarter end. See the Investment Advisory Account Agreement for a complete schedule of fees and charges.
This authorization directs the above named Investment or Insurance Company to deduct your advisory fees from your accounts as directed by GWN Securities, Inc. Please read it carefully before signing.
The undersigned shareholder(s) (Investor) hereby appoints GWN Securities, Inc., hereinafter referred to as “Agent” as his/her true and lawful attorney and agent to execute certain transactions as described herein with full power and authority to act in his/her place as stated with the same effect as if he/she had done the same himself/herself and specifically to execute orders to sell and purchase shares or units of the accounts and to exchange and/or transfer the assets of the above referenced account between and among any regulated investment company or variable annuity account, respectively. Such authority shall be continuing and shall extend to any account established by exchanging and/or transferring the assets of the account into any regulated investment company or to any variable annuity account. The Company accepting such orders shall not be required to inquire into the basis of such exchanging and may accept such orders of said Agent, without any other inquiry.
INVESTOR understands that these Companies, their investment advisor, transfer agents, and distributors are not involved in any way in the selection of the Accounts in these exchanges/transfers or in the timing of the exchanges.
INVESTOR agrees to hold said Companies, their investment advisors, transfer agents, and distributors harmless from any claims arising from the selections of the Accounts or the timing of the exchanges and this includes all investments made in these Accounts by the Investor prior to and subsequent to signing this Exchange and Fee Redemption Authorization Form in the client section. (“Authorization Form”). Any such fees from a GWN sponsored Custodial Account shall be collected by the Custodian from the amount of any contribution or transfer, from available cash of the account, or from the liquidation of such assets held in account as are necessary to pay such fees in full. The Custodian is authorized to redeem or liquidate sufficient assets to pay any foregoing items.
INVESTOR agrees that the Agent shall not be liable for anything done or omitted by the Agent under this Agreement so long as the Agent shall not have acted in fraud, bad faith, or willful misconduct, unless securities laws provide for such liability. This “Authorization Form” will remain in full force and effect until the company receives from Investor written notice of its revocation, signed by Investor. This “Authorization Form” shall extend to the benefit of Agent’s successors and assigns.
INVESTOR has separately authorized the Agent to have discretionary investment authority over the Accounts with the Investment Company or Insurance Company.
The Company shall rely on Agent’s invoices and have no responsibility for the calculation or verification of the fees, frequency of calculation or reasonableness of amounts. In the event of any overpayment of any fee, Investor shall address such matter solely with the Agent, not with Company or its affiliates.
INVESTOR will indemnify and hold the Company, its affiliates and Company’s respective directors, officers and employees harmless from all liabilities and costs, including attorney fees, which Company may incur by relying upon the representation of the Agent or upon this
Authorization.
Proceeds from the above-requested liquidation are to be made payable to and sent to:
GWN Securities, Inc.
11440 Jog Road
Palm Beach Gardens, FL 33418
DISCLOSURE PURSUANT TO RULE 206(4)-3 UNDER THE INVESTMENT ADVISOR ACT OF 1940
The undersigned hereby acknowledges that they have entered into a ‘Consulting Fee Schedule’. The individual named on the Consulting Fee Schedule acts on behalf of GWN’s investment advisory services. The named individual has a financial interest in the selection of the investment advisor in that the solicitor may receive up to (85%) of the fees payable by the client, a portion of which are payable for investment advisory services provided by GWN. Any individual who is also a registered representative has a financial interest in the selection of broker/dealer in that the named individual may receive compensation on investments made through that broker/dealer. By signing this agreement the undersigned hereby acknowledges receipt of this Disclosure Statement and GWN Securities, Inc.’s current Compliance Statement pursuant to Rules 206(4)-2 and 204-3, respectively, of the Advisors Act.
Client/Representative Acknowledgement
I acknowledge receipt and my responsibility to read the prospectus for the mutual fund(s) I am about to purchase in addition to the Mutual Funds Disclosure Statement attached to this form. I understand these investments offer both front-end sales charge and contingent deferred sales charge classes of shares. In addition, my investment representative explained that based upon the dollar amount of my investment, I may qualify for a reduced front end sales charge as defined in the mutual fund prospectus. I understand that the dollar amount of investments used to determine the breakpoint for which I may qualify is based on any positions that I hold within GWN Securities, Inc., as well as any related accounts held with outside firms. I have disclosed or specifically declined (as evidenced by my initials) to my investment representative any mutual fund positions that may assist me in qualifying for a reduced sales charge on this purchase.
I understand that a mutual fund purchase is designed to help meet long-term investment goals. Mutual Fund Companies may impose and retain a short-term trading fee on shares that are sold or exchanged within a pre-determined “holding period” after the date of purchase. Liquidating my shares may result in a balance that is more or less than my original investment. Investment products are re-priced daily and therefore the value will fluctuate daily. Neither the investment principal amount nor the investment earnings are guaranteed.
Mutual Fund Service, Support and Operating Costs
Mutual funds typically charge ongoing fees and operating costs to conduct business. These fees include operating expenses, management fees, 12b-1 fees, shareholder services fees and other expenses. These charges are deducted from the fund’s assets, thereby reducing the investment returns. Many of the mutual funds pay a portion of the 12b-1 fees, which are generally used for marketing and distribution expenses or compensation, to financial institutions, advisors or other investment professionals. In addition, a financial institution, such as GWN, may also provide administration services, sub-accounting, operational services, processing of purchases, redemptions and exchanges, dividend reinvestment, consolidated account statements, tax reporting and/or marketing services and support on behalf of the mutual fund. GWN incurs direct and indirect expenses as a result of providing these and other services, which include operations support, telephone and computer services, conference rooms, facilities, personnel training, Financial Advisor compensation, publications, promotion and other materials relating to the funds, for which a mutual fund company, their distributors and/or advisors may pay compensation from the ongoing fees and operating costs, including a portion of its management fee.
How Compensation is Paid to GWN and your Financial Advisor
GWN and our Financial Advisors receive compensation when clients’ invests in the products that we offer. Depending on the type of product or on the available share class, compensation may be a front-end sales charge, a concession from an investment company, ongoing servicing fees known as “trails” (commonly referred to as 12b-1 fees) or a fee if the investment is purchased in a fee-based account through us. The ongoing fees GWN and your Financial Advisor may receive from the investment company as based upon the amount of your investment held with the investment company and are paid in consideration of the ongoing servicing and operation support provided. You should discuss with your Financial Advisor the form of compensation he or she receives. GWN’s compensation formula does not favor one investment company over another, and all commission revenue is paid out to the Financial Advisor on the same basis, similar to any commission revenue received by the firm.
Our representatives may also directly or indirectly receive additional cash and non-cash compensation. Such support is used for general business and marketing purposes such as seminars, training conferences and entertainment.
By signing the last page below, I believe, based on my review of the prospectus, the Mutual Funds Disclosure Statement attached to this form, my conversations with my investment representative, my prior experience, and my financial situation, that this mutual fund purchase meets my investment objectives.
Client Signature and Acceptance
Under penalties of perjury, I certify that the above information (including my social security number) is correct. I hereby agree to participate in the Custodial Account offered by the Custodian. I acknowledge receipt of a copy of the Custodial Agreement under which this Retirement Account is established, a copy of this Adoption Agreement. I direct that all benefits upon my death be paid as indicated above. In the event that this is a rollover contribution, the undersigned hereby irrevocably elects, pursuant to the requirements of Section 1.402(a) (5)-1T of the IRS regulations, to treat this contribution as a rollover contribution. If I named a beneficiary as a Trust, I understand I must provide certain information concerning such Trust to the Custodian.
Account Access
I understand that I will set up my confidential PIN Code that may be used to obtain confidential information from the Program Internet site. I agree to maintain the confidentiality of that account access information. If my code is misplaced I will request to reset and reissue a new PIN for my account. I release GWN Marketing, GWN Securities, Inc. and Counsel Trust and their affiliates, employees and agents from all liability and will indemnify them for any losses, damages or costs (including reasonable attorney’s fees) incurred for action in good faith according to the instructions on this form or any amendments to these instructions through the electronic system (internet) provided for to receive instruction on Program transactions. I understand that quarterly statements are only available online and will not be mailed to me.
Investment Advisory Acceptance
This agreement is to provide investment advisory services between GWN Securities, Inc. (the advisor) and Participant named below and shall be in full force and effect upon acceptance by the advisor in its administrative office at 11440 N. Jog Road, Palm Beach Gardens, FL 33418. The advisor will mail written acknowledgement of acceptance to Participant and the agreement shall remain in full force and effect until terminated in writing by either party.
In compliance with SEC rules and regulations when establishing a new advisory account through GWN Securities, Inc. the client must be provided the GWN Form ADV Brochure and the Advisory 2B Supplement. You will receive these documents in electronic format via email.
Customer Account Agreement and Signatures
I/we are at least 18 years of age and are of full legal age in the state in which I/we reside. I/we acknowledge that this agreement includes a pre-dispute arbitration clause located on the back of this form (Section 5). I/we acknowledge receiving a copy of this new account form and I/we have had the opportunity to read it and I/we understand it. Furthermore, I/we acknowledge that I/we have read all information on this Client Account Form. I/we have reviewed the terms and conditions of this agreement including all information contained on the reverse side. I/we hereby verify that all the information provided is true and correct and may be relied upon, by GWN, for the purposes of evaluating suitability and sophistication in relation to making securities recommendations. Further, I/we hereby indemnify GWN for any loss, claims or damages, including legal fees, which GWN may incur as a result of any securities recommendations or any securities related violations resulting from GWN’s reliance upon the information I/we have provided. I/we acknowledge receipt and my/our responsibility to read the GWN Securities, Inc. Privacy Notice, Business Continuation Plan, Customer Identification Program, Customer Relationship summary and the prospectus of any security which contains information regarding investment objectives, risks and material facts including all sales charges, fees and expenses.
