The Jeffrey Matthews Financial Group, LLC
Form CRS Customer Relationship Summary – as required by FINRA and SEC
The Jeffrey Matthews Financial Group, LLC (“JMFG”) is a registered broker/dealer and a member of the Securities and Exchange Commission (“SEC”), the Financial Industry Regulatory Authority (“FINRA”) as well as the Securities Investor Protection Corporation (“SIPC”). The Firm was established in 1996 as a Limited Liability Corporation (“LLC”) in New Jersey and the majority owner, President, and CEO, is Jeffrey Halpert. There are other contributing and participating members of JMFG, but none that own 25% or more of the company. Our clearing firm is RBC Clearing & Custody (“RBC”), a division of RBC Capital Markets, LLC, one of the largest clearing firms in the United States. RBC maintains our accounts and acts as the custodian for funds and securities deposited directly through JMFG or as a result of the account transactions we process.
At JMFG, we believe that it is in the best interest for our clients to understand our services, fees and costs, and any conflicts of interest that we are required to provide when we offer investment recommendations.
What investment services and advice can you provide me?
Our relationship with RBC enables us to act as a full-service broker-dealer to our retail investors. These services include the buying and selling of municipal, corporate and government bonds on a principal basis as well as buying and selling equities, mutual funds, ETFs and other investment products. Please refer to our website www.jeffreymatthews.com for a full list of our services. In addition to opening a retail account with us, we are able to assist in establishing a retirement plan covered by the Employee Retirement Income Security Act of 1974, as amended by (“ERISA”) and various other account types. Some of our advisors are also licensed Insurance agents who can offer a wide range of products to suit your Insurance needs.
When making Investment recommendations, such as to open or transfer assets to a brokerage account, we will be acting in the capacity of a broker-dealer. While we do not have a fiduciary obligation, we must act in your best interest at the time we make the recommendation. We do not exercise discretionary authority by deciding to buy or sell your investments without prior approval or monitor your brokerage account investments for you. As our client, it is your responsibility to review your account and investments to ensure that your investment portfolio is appropriate for you and for deciding whether to follow our investment recommendations. There is no minimum for opening a retail account with us but some of the investments you may purchase through us have minimum investment requirements.
What fees will I pay?
When we buy or sell corporate, municipal or government bonds on your behalf, we will be acting as a principal on the transaction. This means that we will be buying or selling the bonds for your account versus our inventory accounts and may charge a mark-up or mark-down for each transaction not to exceed 3%, our firm maximum, which includes an $8.75 ticket charge. The $8.75 ticket charge is included on all transactions. If we purchase or sell equities on your behalf, we will be acting in an agency capacity and charge a commission not exceeding 3% which includes an $8.75 ticket charge. Mutual funds come in different share classes that have various sales charges and fees. Please discuss these different classes of funds with your registered representative to determine which class of funds best meets your trading strategy and financial needs.
In addition to the fees mentioned above, our clearing firm RBC, may assess certain fees associated with your account, such as an account termination fee (qualified accounts only), account transfer fee or a liquidation fee. A list of fees charged by RBC and our firm is available on Investor Connect at www.investor-connect.com. The fees and costs for specific securities transactions are disclosed on the confirmation statement sent to you when a transaction is executed. Please discuss these fees with your representative to understand how they affect your account.
What are your obligations to me when providing recommendations? How else does our firm make money and what conflict of interest do we have?
When we provide a recommendation, it is our duty to act in our clients’ best interest. Our registered representatives are compensated based upon a percentage of the commissions or mark-up/mark down charged on client transactions as outlined above. As more transactions are executed, the representative receives more compensation. The fees and costs for specific securities transactions are disclosed to you on the confirmation statement you receive after your trade is executed.
Do any of your financial professionals have legal or disciplinary history?
To view any legal or disciplinary history, you may research your Representative’s experiences and licenses on FINRA’s Broker Check website www.brokercheck.finra.org . Free and simple tools are available to you to research firms and financial professionals at www.investor.gov/crs . This site also provides educational material about broker-dealers, investment advisors and investing.
Your primary contacts at JMFG will be your Registered Representative and their sales assistant. JMFG prides itself on a full-service personal financial experience with each client’s best interest as a priority. Should you have questions relative to the handling of your account, please contact our Chief Compliance Officer at 888-467-3636.