All of Us Securities, LLC
Customer Relationship Summary, Effective June 30, 2020
This information about All of Us Securities (“All of Us” / “We” / “Our”) is provided to comply with federal securities laws. All of Us, is registered with the Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) as a broker-dealer. Brokerage and investment advisory services differ, and it is important for retail investors to understand the differences. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
What investment services and advice can you provide me?
All of Us is an introducing broker-dealer that offers online self-directed brokerage services to retail investors. We offer the ability to buy and sell investment products like stocks and exchanged traded funds (ETF’s) in a brokerage account.
We solely act in a broker-dealer capacity and do not make recommendations of any kind, which includes investment advice and/or specific recommendations on account types. All trading in your All of Us account is directed by you. We do not monitor the performance of your account for purposes of recommending changes to your investments, and we do not make recommendations as to whether you should buy, sell, or hold investment products. Tools to assist you with monitoring your trading account are provided to you on our website. We conduct routine monitoring of our customers’ accounts for other purposes such as compliance requirements and to ensure your account does not pose excessive risk to us. Our employees are prohibited from making recommendations or providing investment advice, and none of our registered representatives are employed to manage your account. On the other hand, our registered representatives are permitted and more than willing to assist you with general trading questions.
We do not offer proprietary products. In general, there are no account minimums or other requirements to open or maintain a brokerage account with us. For more information about the account services we offer, please visit https://support.allofusfinancial.com
Given my financial situation, should I choose a brokerage service? Why or why not?
Our services are designed for self-directed investors who want to make their own decisions about which individual securities to trade. If you want recommendations regarding individual securities, you may want to choose a firm that provides this service.
What fees will I pay?
We do not charge commission for trades of stocks and ETF’s. The principal fees and costs you may incur for our brokerage services are: (i) Exchange and Regulatory Fees; (ii) Interest Costs; and (iii) Back-Office and Cashiering Fees. You will pay certain fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. We do not compensate its employees based on trades made or fees paid by you. The following is an overview of the fees and costs mentioned above:
- Exchange, Regulatory, and Clearing Fees: Exchanges, regulators, and clearing firms charge certain fees to All of Us that we directly pass through to you. These fees are very small and are charged on each stock sale you make. Please visit our Fee Schdule for more details.
- Interest Costs:If you open a margin account and borrow on margin or borrow stock for purposes of short selling, you will be charged margin loan interest and/or stock hard-to-borrow fees. Please visit our Fee Schedule to see our margin rate.
- Back-Office & Cashiering Fees: Should you choose to utilize some of the services offered to you in addition to online trading, you may incur fees charged by our clearing firm. Please visit our Fee Schedule for a complete list of banking and account related fees.
Help me understand how fees and costs might affect my investments? If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
Since we charge no commissions, the entire amount is invested when you purchase a stock or ETF.
What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?
We do not provide recommendations. The way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the services we provide you. Here are some examples to help you understand what this means.
We make money by receiving payment for order flow on your self-directed trading, receiving interest on your uninvested cash balances, and interest on debit balances when you borrow in a margin account. All accounts are enrolled in the securities lending program offered by our clearing firm and we earn a percentage of the revenue generated from that activity.
How might your conflicts of interest affect me, and how will you address them?
Although the ways in which we make money can create conflicts with your interests, we attempt to minimize these conflicts by sharing with our customers portions of what we earn through each of these revenue streams.
How do your financial professionals make money?
Our employees are compensated by salary and discretionary bonuses. We determine an employee’s bonus based on factors including company and individual performance. Our employees are not compensated based on commissions, fees, performance of your accounts, the amount of your assets, the products you buy or sell, or revenue earned from services chosen by you or trades placed by you.
Do you or your financial professionals have legal or disciplinary history?
None of our registered representatives have legal and/or disciplinary disclosures. You can visit Investor.gov/CRS for a free and simple tool to research All of Us and our financial professionals.
Questions you may want to ask a financial professional you are considering working with:
- “As a financial professional, do you have any disciplinary history? For what type of conduct?”
- “Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
You can find additional information about the brokerage services we provide or to access a copy of our Customer Relationship Summary at allofusfinancial.com. We do not assign individual registered representatives to manage our customers’ accounts. Please contact us at firstname.lastname@example.org if you have any questions.