Surcharge funds
Upcoming surcharge on select funds – effective May 1
Starting May 1, a $10 surcharge will apply whenever certain funds are bought or sold. Please refer to the original email from Cetera for full details.
Identifying surcharge funds in your practice
To see which of your current holdings are affected by the surcharge:
Your options for managing surcharge funds
❌ Option 1: Manual rebalance (not recommended)
Most advisors only rebalance once or twice a year during client meetings. Although rebalancing accounts into surcharge-free models is a good long-term plan, doing so for all your Symplany Pro accounts before May 1 would be a significant undertaking.
✅ Option 2: Use MAA’s "Find → Replace" feature (recommended)
This is the most efficient way to replace surcharge holdings before May 1 without requiring a full rebalance of the account.
NS Investments has already identified surcharge-free alternatives for most holdings.
How to replace surcharge funds in MAA
1. Go to: Manage > Trade Generation
2. Clear any previous filters
Click Clear All if needed.
3. Apply filters
We recommend filtering by:
Program: e.g., Spectrum Advisor - Symplany (pictured)
Do not use this tool for Spectrum Advisor - FLD accounts. Those trades should be made in Symplany One/FLD.
- Discretion: Separate Discretionary from Non-Discretionary accounts (not pictured)
- Tax Status: Separate Taxable from Qualified accounts (pictured)
4. Show all rows
Important for making mass changes easily.
5. Select all accounts
Bulk-apply the changes.
6. Generate trades
Choose the Global Trade (cash%) option.
7. Choose securities
Specify:
- The security to sell (e.g., VMRXX)
The security to buy (e.g., TOIXX)
Set both to 100%, then click Generate Trades.
8. Review impacted accounts
Verify trade activity.
You can exclude individual accounts if needed (e.g. you may not want to realize gains).
9. Move trades to the Submission tab
10. Group trades
Click the Groupings icon and select Group by Security.
11. Submit Trades
For each ticker/group:
- Click Submit Trades
- In the final window, confirm the Discretion settings
- Click Execute Trades
Surcharge-free investment models
The next time you do a full rebalance of a client's account, remember that the NS Investments team has curated a robust set of investment models that:
- Meet a wide range of client needs
- Contain no surcharge funds
- Are regularly updated to maintain compliance