# In Short

When someone buys or sells stocks, mutual funds, ETFs, etc. they have the choice to use multiple types of orders.

# Market Order

The order is done immediately at the current security price. Market orders have to pay the bid-ask spread. For every security there is a difference between how much people are willing to pay for it and how much people are willing to sell it for. The difference is the bid-ask spread.

# Limit Order

The order is put in at particular price. The order will execute when the price is at that point or better. For example: Stock has a current price of \$30.00. You put in in a limit buy order at \$29.00. The order doesn’t execute until the price drops to \$29.00 or below. Limit orders don’t pay the bid-ask spread.

# Stop Order

One of the above orders is automatically triggered once the price goes in the wrong direction. For example: You put a stop market buy order in on a stock at \$30.00. The current price is \$29.00. The order doesn’t execute until the price rises to \$30.00 or higher. Than it goes though as a market order. Another example would be a stop market sell order. Here the market order automatically triggers when the price drops to some value. Stop orders can be fixed or trailing (they automatically adjust based on the price of the security).

# Fee Structure

 Rate Assets Under Management 1.44% Below \$125,000 1.00% Between \$125,000 and \$750,000 .85% Between \$750,000 and \$1,250,000 .80% Between \$1,250,000 and \$1,750,000 .75% Between \$1,750,000 and \$2,500,000 .70% Between \$2,500,000 and \$3,250,000 .65% Between \$3,250,000 and \$4,250,000 .60% Above \$4,250,000

A single rate is applied to the entire account. So a person with a \$750,000.01 account pays less than a person with a \$750,000 account. I will waive personal tax return fees for accounts over \$1 million. For accounts that are above \$5,250,000, we’ll need to discuss a custom rate.

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