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 both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) as well as the Securities Investor Protection Corporation (SIPC). The Firm has been in business since 1996 as a New Jersey LLC. The majority owner is Jeffrey Halpert and there are no other members that own 25% or more of the company. We clear our business, on a fully disclosed basis, through RBC Correspondent Services (RBCCS), one of the largest clearing firms in the United States. This means that RBCCS carries your account and acts as your custodian for funds and securities deposited with us directly by you through JMFG or as a result of transactions we process for your account.
This disclosure document includes information about our services, fees and costs, and conflicts of interest that we are required to provide to you when we make investment recommendations to you.
What investment services and advice can you provide me?
Based upon our relationship with RBCCS, we 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, ETF’s and other investment products to our retail investors (refer to our website jeffreymatthews.com for a full list of our services). In addition to opening a retail account with us, we are also able to help meet your retirement needs by establishing a retirement account and/or a Trust account as well as custodian and corporate accounts. We are also able to offer you insurance products.
When making Investment recommendations to you, including recommendations to open or transfer assets to a brokerage account, we will be acting in the capacity of a broker-dealer. When making such a recommendation, we do not have a fiduciary obligation to you, but we must act in your best interest at the time we make the recommendation. We do not exercise discretionary authority in your brokerage account (make decisions to buy or sell your investments without your approval) or monitor your brokerage account investments for you. This means that you are responsible for reviewing your account and investments to insure that your investment mix 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.
Free and simple tools are available to you to research firms and financial professionals at investor.gov/crs. This site also provides educational material about broker-dealers, investment advisors and investing.
What fees will I pay?
When we buy or sell corporate, municipal or government bonds on your behalf, we will be acting as 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 you a mark-up or mark-down for each transaction not to exceed 3% which includes an $8.75 ticket charge. The $8.75 ticket charge is charged on all transactions. If we purchase or sell equities on your behalf, we will be acting in an agency capacity and charge you a commission again not exceeding 3% which includes the $8.75 ticket charge. Mutual funds come in different share classes that have different 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, RBCCS, may assess certain fees associated with your account, such as account termination fees (qualified accounts only) and account transfer fee or a liquidation fee. For a schedule of fees charged by RBC CS and our firm you may visit Investor Connect at investor-connect.com where a list of fees is included. The fees and costs you pay for specific securities transactions are disclosed to you on the confirmation statement you receive after your transaction is executed
Be sure to discuss these fees with your representative so you understand how they affect your account.
What are your obligations to me when providing recommendations? How elsedoes our firm make money and what conflict of interest do we have?
When we provide you with a recommendation, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should ask and understand these conflicts because they may affect the recommendations we provide you. Your registered representative is compensated based upon a percentage of the commissions or mark-up/mark down charged on your transactions as outlined above, therefore, the more transactions that are done in your account the more fees that will be charged. The fees and costs you pay for specific securities transactions are disclosed to you on the confirmation statement you receive after your transaction is executed. As stated above, be sure to discuss these fees with your Representative.
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 (brokercheck.finra.org)
Your primary contact at JMFG will be your registered representative. You may also deal with their sales assistant to discuss matters relative to your account (funds disbursements, transfer of assets or on-line access). Should you have questions relative to the handling of your account by your representative, you can contact our Chief Compliance Officer at 888-467-3636.