ERISA Section 408(b)(2) Notice Disclosures 

Janney appreciates how important it is to keep qualified retirement plan sponsors informed and up to date on the services we provide and the resulting compensation we receive. This page contains information that relates to and supplements the required ERISA Section 408(b)(2) notices we provide to ERISA plan sponsors and other plan fiduciaries consistent with our disclosures obligations under the U.S. Department of Labor’s 408(b)(2) regulations. In particular, the information included here relates to: 

  • Revenue Sharing Arrangements with Respect to Mutual Fund Investments 
  • Networking Reimbursements (Networking and Omnibus Arrangements) with Respect to Mutual Fund Investments 
  • Revenue Sharing Arrangements with Respect to Annuity Policies 
  • Schedule of Account Charges 

If you are not the fiduciary for your qualified plan, please forward the disclosure notices you received, as well as the link to this webpage, to the plan fiduciary or ask the plan fiduciary to contact your Janney Financial Advisor to obtain our required disclosures. 

Revenue Sharing Arrangements (Mutual Funds) 

Janney has entered revenue sharing agreements with the following mutual fund underwriters, distributors or advisors, known as our “Product Partners:" 

 Allianz 

 American Century 

 American Funds 

 Eaton Vance 

 Federated 

 Franklin Templeton 

 Hartford 

 John Hancock 

 JP Morgan 

 Legg Mason 

 Lord Abbett

 MFS

 Neuberger Berman 

 NY Life / MainStay 

 Oppenheimer 

 PIMCO 

 Principal Funds

 PGIM

 Putnam 

 Russell

 Touchstone 

 Voya

The revenue share payments vary by fund family and are generally based on an annual percentage of the average daily assets invested in a fund ranging from 0.02% (2 basis points (2bps)) to 0.10% (10 bps), as well as an annual percentage of new or gross sales of fund shares generally ranging from 0.05% (5 bps) to 0.10% (10 bps). Additionally, some fund families may make fixed payments in addition to the above payments or instead of those payments. A number of fund families exclude assets in particular share classes (such as institutional and retirement share classes) and/or funds (such as index or money market funds) when calculating the revenue share payments.

The revenue share payments to Janney are from the fund’s investment advisor, principal underwriter or distributor and are in addition to the sales charges, 12b-1 fees and deferred sales charges in the funds’ prospectus fee table. During calendar year 2018, Janney received a total of $2,207,414 in revenue sharing payments from mutual fund underwriters, distributors and advisors. Our Financial Advisors do not share in or otherwise receive any portion of these payments or receive any direct economic benefit from these payments, and they are not required to recommend these funds.

For more information about revenue sharing compensation, please refer to the mutual fund prospectus previously provided. 

Networking Reimbursements 

Networked Basis

Trading on a Networked Basis means Janney submits a separate trade for each individual client trade to the fund and therefore we maintain only certain elements of the fund’s shareholder information. To defray the cost of sending confirmations, statements and tax reporting, Janney receives networking reimbursements from certain mutual funds. These charges typically are based upon the number or aggregate value of client positions and the levels of service provided. On a networked basis, the fees range from $3.00 - $10.00 per client account per year, paid quarterly. Our Financial Advisors do not share in or otherwise receive any portion of the reimbursements or receive any direct economic benefit from these payments, and they are not required to recommend these funds.

For the year ending December 31, 2016, Janney received networking reimbursement from the following mutual fund companies:

 Aberdeen 

 Alger 

 Alliance 

 American Century 

 American Funds

 Columbia/RiverSource/Seligman 

 DWS Scudder/Kemper 

 Fidelity Funds 

 ING Funds 

 Invesco Funds 

 Nuveen Funds 

 Oppenheimer Funds 

 Prudential Funds 

 Putnam Funds

State Street

USAA Funds

Omnibus Basis 

Janney processes its mutual fund transactions through an omnibus relationship with Charles Schwab. This means we consolidate our clients' trades into larger, less frequent daily trade with the fund, enabling Janney to maintain all pertinent individual shareholder information for the fund. Trading in this manner requires that we maintain the transaction history necessary to track and process sales charges, annual service fees, and applicable redemption fees and deferred sales charges for each position, as well as other transaction details required for ongoing position maintenance purposes. We charge those funds with administrative service fees on average $17 per year per client position. Because omnibus trading offers economies, for Janney and the funds, that are greatest when daily trade volumes are high, we have sought to establish omnibus trading arrangements with the fund families that clients trade the most. This may create a conflict of interest in the form of an additional financial incentive and financial benefit to the firm, its financial advisors and equity owners in connection with the sale of fund families trading on an Omnibus Basis.

As of December 31, 2017, we were trading on an omnibus basis with:

ABERDEEN FUNDS

ACAP STRATEGIC FUND

ACR FUNDS

ACR FUNDS

AEGIS FUNDS

ALGER FUNDS

ALGER SICAV OFFSHORE FUNDS

ALLEGIANT FUNDS

ALLIANCE GLOBAL INVESTOR SVCS

ALLIANZ FUNDS

ALPINE REAL ESTATE FUNDS

ALPS FUNDS

ALTEGRIS FUNDS

AMANA FUNDS

AMERICAN BEACON FUNDS

AMERICAN CENTURY FUNDS

AMERICAN FUNDS SERVICE CO

AMERICAN GROWTH FD

AMERICAN TRUST ALLEGIANCE FUND

AMG FUNDS

AMIDEX FUNDS INC

ANGEL OAK FUNDS

APEX FUNDS

API FUND

AQR FUNDS

AQUILA GROUP OF FUNDS

ARBITRAGE FUNDS

ARIEL MUTUAL FUNDS

ARTIO GLOBAL FUNDS

ARTISAN PARTNERS FUNDS

ASHMORE FUNDS

ASSET MANAGEMENT FUNDS

AVE MARIA FUNDS

BABSON CAPITAL FUNDS TRUST

BAIRD FUNDS, INC

BARON FUNDS

BBH FUNDS

BERKSHIRE FUNDS

BERWYN FUNDS

BLACKROCK FUNDS

BLACKSTONE FUNDS

BNY HAMILTON FUNDS

BOYAR VALUE FUND

BP CAPITAL FUNDS

BRANDES FUNDS

BRIDGEWAY FUNDS, INC

BRIGHT DIRECTIONS 529 PLANS

BROADVIEW FUNDS

BROOKFIELD INVESTMENT FUNDS

BROWN ADVISORY FUNDS

BROWN CAPITAL MANAGEMENT

BUFFALO FUNDS

CALAMOS FUNDS

CALVERT GROUP

CARILLON FAMILY OF FUNDS

CATALYST FUNDS

CAUSEWAY FUNDS

CENTRE FUNDS

CLAYMORE FUNDS

COHEN & STEERS FUNDS

COLLEGEBOUND 529 PLANS

COLLEGECHOICE 529 SAVING PLAN 

COLLEGECOUNTS 529 FUND

COLUMBIA FUNDS SERVICES, INC

CONESTOGA FUNDS

CONGRESS FUNDS 

CREDIT SUISSE INSTL FUND, INC

CREDIT SUISSE WARBURG PINCUS

CRM FUNDS

CULLEN FUNDS TRUST

DAVIDSON FUNDS

DAVIS FUNDS

DELAWARE INVESTMENTS 

DESTRA FUNDS

DFA FUNDS

DIAMOND HILL FUNDS

DIREXION FUNDS

DIVIDEND GROWTH TRUST FUNDS

DODGE & COX FUNDS

DOMINI FUNDS

DOUBLELINE FUNDS

DREYFUS SERVICE CORP 

DRIEHAUS FUNDS 

DUNHAM FUNDS

DWS INVESTMENTS SERVICE CO

EATON VANCE GROUP

EQUINOX FUNDS

EVENTIDE FUNDS

EVERMORE FUNDS

FAIRHOLME FUNDS

FAM FUNDS

FAMCO FUNDS

FEDERATED FUNDS

FIDELITY ADVISOR FUNDS

FINANCIAL INVESTORS TRUST

FIRST EAGLE FUNDS

FIRST INVESTORS CORP

FIRST TRUST FUNDS

FIRSTHAND FUNDS

FMI FUNDS

FORESTER FUNDS, INC

FORUM FUNDS

FORWARD/EMERALD FUNDS

FPA FUNDS

FRANKLIN TEMPLETON

FROST FUNDS

FUNDVANTAGE FUNDS

GABELLI FUNDS 

GATEWAY FUNDS

GLENEMEDE FUNDS

GOLDMAN SACHS FUNDS 

GREEN CENTURY FUNDS

GREENSPRING FUND INC

GUGGENHEIM INVESTMENTS

GUINNESS ATKINSON FUNDS 

HANCOCK HORIZON FUNDS 

HARBOR FUNDS

HARDING LOEVNER FUNDS

HARTFORD FUNDS

HATTERAS FUNDS

HEARTLAND FUNDS

HENNESSY FUNDS, INC

HIGHLAND FUNDS 

HODGES FUND

HOMESTEAD FUNDS

HOTCHKIS AND WILEY FUNDS

HUSSMAN FUNDS

ICON FUNDS

INDEX IQ FUNDS

INTEGRITY MUTUAL FUNDS INC 

INVESCO FUNDS 

IVA FUNDS

IVY FUNDS 

JACOB FUNDS

JAMES FUNDS 

JANUS FUNDS

JENSEN FUNDS 

JOHCM FUNDS

JOHN HANCOCK FUNDS 

JP MORGAN FUNDS 

KEELEY FUNDS

KINETICS MUTUAL FUNDS INC 

KOPERNIK FUNDS 

LAUDUS ROSENBERG FUNDS

LAZARD FUNDS 

LEADER FUNDS

LEGG MASON FUNDS

LEUTHOLD FUNDS 

LIBERTY STREET HORIZON FUNDS

LOCORR FUNDS

LONESTAR 529 PLANS

LONGLEAF PARTNERS FUNDS 

LOOMIS SAYLES FUNDS 

LORD ABBETT FUNDS

LYRICAL FUNDS

MADISON FUNDS 

MAINGATE FUNDS 

MAINSTAY FUNDS 

MAIRS & POWER FUNDS

MANNING & NAPIER FUNDS 

MARKETFIELD FUNDS

MARSICO FUNDS

MASTERS SELECT FUNDS 

MATTHEWS INTERNATIONAL FUNDS

METROPOLITAN WEST FUNDS 

MFS MERIDIAN FUNDS

MFS SERVICE CENTER

MILLER FUNDS 

MIRAE ASSET GLOBAL INVESTMENTS

MMA PRAXIS MUTUAL FUNDS 

MORGAN STANLEY FUNDS 

MUHLENKAMP FUND 

NATIONS FUNDS 

NATIONWIDE FUNDS 

NATIXIS FUNDS 

NEST 529 PLANS 

NEUBERGER BERMAN FUNDS

NEW ALTERNATIVE FUND INC

NICHOLAS FUNDS

NORTHERN FUNDS

NORTHERN LIGHTS FUND TRUST 

NUVEEN INVESTOR SERVICES

OAK ASSOCIATES FUNDS 

OAK RIDGE FUNDS 

OAKMARK FUNDS 

OBERWEIS FUNDS

OLSTEIN FUNDS

OPPENHEIMER FUNDS SERVICES

PACIFIC FUNDS 

PACIFIC INCOME ADVISERS

PARNASSUS FINANCIAL MANAGEMENT

PAX WORLD FUNDS

PEAR TREE FUNDS 

PERMANENT PORTFOLIO FUNDS 

PIMCO FUNDS 

PIMCO INSTITUTIONAL FUNDS

PIONEER INVESTMENTS 

PNC FUNDS INC 

PRIMECAP ODYSSEY FUNDS 

PRINCIPAL MUTUAL FUNDS

PROFESSIONALLY MANAGED FUNDS

PROFUNDS

PRUDENTIAL MUTUAL FUND

PUTNAM INVESTMENTS

QUAKER FUNDS 

RBB FUNDS INC

RBC FUNDS

REINHART FUNDS

REYNOLDS FUNDS

RIVERBRIDGE FUNDS

RIVERPARK FUNDS 

RMB FUNDS 

ROYCE FUNDS 

RS FUNDS 

RUSSELL FUNDS 

SARATOGA CAPITAL MANAGEMENT

SCHWAB FUNDS 

SEI FUNDS 

SIT MUTUAL FUNDS 

SNOW CAPITAL FUNDS 

SOUND SHORE FUNDS

SSGA FUNDS 

STADION FUNDS

STERLING CAPITAL FUNDS

STRATTON FUNDS 

SUN AMERICA FUNDS

T ROWE PRICE

TANAKA FUNDS

TCW GALILEO FUNDS 

THE AL FRANK FUND 

THE MERGER FUND

THE MUNDER FUNDS

THIRD AVENUE VALUE FUND

THOMAS WHITE FUNDS

THOMPSON PLUMB FUNDS

THORNBURG SEC CORP 

TIAA-CREF MUTUAL FUNDS

TIMOTHY PLAN FUNDS

TOCQUEVILLE FUNDS

TORTOIS MLP PIPELINE FUNDS

TOUCHSTONE FUNDS

TRANSAMERICA FUNDS

TRANSAMERICA PREMIER FUNDS 

TRANSPARENT VALUE FUNDS

TWEEDY BROWNE FUNDS 

U S GLOBAL INVESTORS FUNDS

UBS FUNDS 

ULTIMUS FUND SOLUTIONS

USAA FUNDS

VALUE LINE SECURITIES INC

VAN ECK SECURITIES CORP

VAN KAMPEN FUNDS

VANGUARD FUNDS

VICTORY FUNDS

VIRTUS FUNDS

VOYA FUNDS

WASATCH MUTUAL FUNDS

WEITZ FUNDS

WELLS FARGO FUNDS

WESTCORE FUNDS

WILLIAM BLAIR FUNDS

WILMINGTON FUNDS 

WILSHIRE FUNDS 

WINTERGREEN FUNDS

WORLD FUNDS TRUST

Revenue Sharing Arrangements (Annuities) 

Janney has entered revenue sharing agreements with the following insurance companies with respect to certain annuity policies offered to clients: 

 Allianz

 AIG Financial

 AXA

 Forethought Life

 Great West

 Jackson National Life

 Lincoln Financial 

 Met Life 

 Nationwide 

 Ohio National 

 Pacific Life 

 Prudential 

 Riversource

 Symetra

 Transamerica

The revenue share payments vary by insurance company and are generally based on an annual percentage of new or gross sales ranging from 0.15% (15 bps) to 0.20% (20 bps).

The revenue share payments to Janney are from the insurance company or its affiliate and are in addition to commissions received. During calendar year 2018, Janney received a total of $499,343 in revenue sharing payments from insurance companies. No revenue sharing payments are received with respect to group annuities held by retirement plans maintained on the annuity provider’s record keeping platform.

Schedule of Account Service Charges 

Click here for an overview of customary account and client service fees. Your Financial Advisor can also provide you with a copy

Related Documents & Forms

To learn about the professional background, business practices, and conduct of FINRA member firms or their financial professionals, visit FINRA’s BrokerCheck website: http://brokercheck.finra.org/