Disclosures

 

Investment Risk

Investments in bonds carry significant risks including price fluctuation, loss of principal, limited liquidity, and the uncertainty of receiving timely interest payments. Bonds are not suitable for all investors and are not FDIC insured. Past performance is not indicative of future returns.

Privacy Policy

It is the policy of Bernardi Securities, Inc. (BSI) to keep all personal, non-public, information of our clients strictly confidential. This information is only shared with all affiliated and unaffiliated third parties required to properly service client accounts. This information is never sold or released except as noted above or if required by law enforcement organizations. Bernardi Securities, Inc. collects personal financial information needed to assist us in serving your investment needs. We have established procedures and policies to protect the confidentiality of your personal information. Please contact your Investment Specialist if you have questions regarding this policy.

Data Collection

BSI collects personal financial information needed to assist us in serving your investment needs. This information is provided by you prior to account opening. Additionally, we reserve the right to collect information regarding the usage of this website, which aids in its further development and improvement. This is accomplished through the use of “cookies,” which track usage from specific personal computers.

Tax Free Securities

Securities listed as tax-free or tax-exempt imply that the income is exempt from current federal income taxes. These securities may be subject to state and local taxes, the federal alternative minimum tax (AMT), capital gains tax, or other taxes. Please consult with your tax professional regarding suitability. Taxable equivalency yields are based on maximum federal marginal tax bracket.

There are or may be pending in the Congress of the United States legislative proposals, including some that carry retroactive effective dates, that, if enacted, could alter or amend the federal tax matters referred to above or affect the market value of the bonds. It cannot be predicted whether or in what form any such proposal might be enacted or whether, if enacted, it would apply to bonds issued prior to enactment. Prospective purchasers of the bonds should consult their own tax advisors regarding any pending or proposed federal tax legislation. We express no opinion regarding any pending or proposed federal tax legislation. This text is current opinion and is subject to change at any time.

Customer Identification Program

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. What this means to you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. We appreciate your cooperation in complying with this Federal requirement

Relationship Minimums

Non-retirement Accounts: $150,000 | Retirement Accounts: $500,000

BSI has relationship minimums for new clients as of May 1st, 2020. Relationships lower than thresholds noted above must reside with our fee-based SEC registered investment adviser, Bernardi Asset Management (BAM).

BSI fixed income management is available for asset allocation portfolios if fixed income portion exceeds $1,000,000.

These minimums are negotiable and waived at our discretion

Costs & Fee Structure

BAM charges based on assets under management. Specific details pertaining to BAM’s fee schedule is described in. Form ADV Part 2A.

When BAM effects securities transactions, BAM passes on certain fees charged by its clearing broker, Pershing, LLC and/or client selected custodian. Some of these charges will apply to BSI clients. Pershing LLC charges include:

Processing fee for bonds: $12 per trade (BAM)
Processing fees for stock, ETF or mutual fund: $16 per trade (BAM)
Retirement Account Custodian Fee (annual): $43.50 per year (BAM & BSI)
Retirement Account termination Fee: $95.00 (BAM & BSI)
Wire Transfer Fee: $20 per occurrence (BAM & BSI)
Paper Statement/Confirm Fee: $0.75 per occurrence (BAM & BSI)
Annual Inactivity Fee: $25 per year if no transactions occur (BAM & BSI)

Other charges by BSI include a $45 stock, mutual fund, ETF commission and markdowns when bonds are sold to a third-party.

BSI “Regulation Best Interest” Mark-down schedule ranges:

Non-Discretionary

Minimum of $100 or
Less than 1-year maturity = $1.00/1,000 par amount
1-year to 8-year maturity = $2.50/1,000 par amount
Greater than 8-year maturity = $4.00/1,000 par amount

Discretionary

Less than 1-year maturity = $1.00/1,000 par amount
1-year to 8-year maturity = $2.50/1,000 par amount
Greater than 8-year maturity = $4.00/1,000 par amount

Maximum mark-down not to exceed $1,000/ticket

Business Continuity Plan

Bernardi Securities, Inc. maintains a business continuity plan. Plan includes a back-up data center and alternate processing facilities, to address interruptions of our normal course of business. These plans are reviewed annually and updated as needed. Our plan outlines actions Bernardi Securities will take in the event of various disruptions that may prohibits us from accessing our main office facilities.

Bernardi Securities, Inc. has a fully disclosed clearing agreement with Pershing LLC. Under this relationship, Pershing acts as custodian of funds and performs all necessary cashiering, execution, clearing, and statementing services. All Pershing operational facilities are equipped for resumption of business and are tested several times per year. In the event that you are unable to contact Bernardi Securities during a business disruption, you may contact the Pershing emergency contact department directly at (201) 413-3635.

Bernardi Securities, Inc. is registered in the states of AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WA, and WI. If you are a resident of any other state or territory, this website is not intended as a solicitation of business.

No portion of this website shall be reproduced, transmitted, or copied in any form without the express written permission of Bernardi Securities, Inc.

This text contains privileged and/or confidential information. If you are not the intended recipient, you may not disclose, use, disseminate, copy or rely upon this message or attachment in any way. If you received this message in error, please return by forwarding the message and its attachments to the sender.

This information is taken from public sources we believe to be reliable, but we cannot assure complete accuracy. Nothing in this document represents a recommendation of any particular strategy, security or investment product. This information is distributed for educational purposes only and none of this information and analysis is, or is intended to be personalized investment advice. Bernardi Securities, Inc. is not acting in an investment advisory or municipal advisor capacity and the opinions and views contained herein are not intended to be and do not constitute advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rights of the owners of any bond and the enforceability of these rights may be limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws affecting creditors’ rights and by equitable principles, whether considered at law or in equity, including the exercise of judicial discretion. Bernardi Securities, Inc. offerings are made by prospectus or official statement only.

Time sensitive requests such as trade orders and distribution requests must be requested verbally through your Investment Specialist or Portfolio Manager. Bernardi Securities Inc. and its affiliates do not accept liability for any errors, omissions or viruses in the contents of this message or any attachments that may arise as a result of e-mail transmissions.

Routing of Equity Orders

https://www.orderroutingdisclosure.com