C-Share
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In a family of multi-class mutual funds, the class that has a constant load structure throughout the life of the fund.
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Source:
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403bCompare.com
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Capped
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A cap is a ceiling, or the highest level to which something can go.
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Source:
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Foundation for Investors Education
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Cash Funds
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In discussing financial instruments, generally used to include the value of assets that can be converted to cash immediately without a material price impact.
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Source:
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American Stock Exchange
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Certified Financial Planner (CFP)
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The CFP legal team has provided their official definition, along with trademarks: CFP, Certified Financial Planner, and marks are certification marks owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
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Source:
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403bCompare.com
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Chartered Financial Consultant (ChFC)
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A financial planning designation for the insurance industry awarded by the American College of Bryn Mawr. ChFCs must meet experience requirements and pass exams covering finance and investing. They must have at least three years of experience in the financial industry, and have studied and passed an examination on the fundamentals of financial planning, including income tax, insurance, investment and estate planning.
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Source:
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403bCompare.com
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Chartered Life Underwriter (CLU)
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Designation granted by American College, Bryn Mawr, PA, the insurance and financial service industry's oldest and largest fully accredited institution of higher learning in the United States. Designation requires completion of ten college-level courses, three years of qualifying experience, and adherence to a strict code of ethics. All CLU may join the American Society of CLU and ChFC, a professional association also headquartered in Bryn Mawr, for continuing education opportunities and other member services. The American Society has chapters in all 50 states.
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Source:
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403bCompare.com
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Closed-End Fund (Closed-End Company)
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A type of investment company that does not continuously offer its shares for sale but instead sells a fixed number of shares at one time (in the initial public offering) which then typically trade on a secondary market, such as the New York Stock Exchange or the Nasdaq Stock Market. Legally known as a "closed-end company."
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Source:
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United States Securities and Exchange Commission
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Commission
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A fee charged by a broker or agent for his/her service in facilitating a transaction, such as the buying or selling of securities or real estate. In the case of securities trading, brokers can be split into two broad categories depending on the commissions they charge. Discount brokers charge relatively low commissions, but provide no services beyond executing trades. Full service brokers charge higher commissions, but provide research and investment advisory services.
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Source:
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403bCompare.com
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Compound Interest
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Interest computed on interest already assessed or accrued.
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Source:
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Internal Revenue Service Manual
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Contract Fee
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This is a flat dollar amount charged either once at the time of issue, or charged once each year.
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Source:
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State of Wisconsin Office of the Commissioner of Insurance
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Contract Loans
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Your contract may include a loan provision. In general, it allows you to borrow up to a specified amount of the annuity's accumulated value. Since it is a loan, interest will accumulate and it most likely will be to your advantage to repay it. Like the withdrawal privilege, a loan provision can give some liquid features to an annuity. A contract loan generally will be subject to current taxes.
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Source:
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Ohio Department of Insurance
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Conversion
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A feature some funds offer that allows investors to automatically change from one class to another (typically with lower annual expenses) after a set period of time. The fund's prospectus or profile will state whether a class ever converts to another class.
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Source:
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United States Securities and Exchange Commission
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CUSIP Number
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CUSIP stands for the Council on Uniform Securities Identification Procedures. A CUSIP number is a unique nine-character alphanumeric code appearing on the face of each stock or bond certificate that is assigned to a security by Standard & Poor's Corporation. CUSIP numbers are the property of the American Bankers Association (ABA) and are administered by Standard & Poor's. The number is used to expedite clearance and settlement.
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Source:
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National Association of Securities Dealers, Inc.
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Custodial Accounts
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Uniform Gift to Minors Act (UGMA) or Uniform Transfer to Minors Act (UTMA) accounts, created for the benefit of a child. An adult controls the funds until the child reaches the age of majority, at which point the account transfers into the child’s name.
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Source:
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Financial Industry Regulatory Authority, Inc.
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Custodial Fee
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The charge for safekeeping or physically holding the securities in the fund.
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Source:
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403bCompare.com
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