Mutual Fund Arrangements
Like many securities firms, RBC CM receives payments from fund companies. RBC CM uses this money for general marketing and Financial Advisor educational programs, to offset compliance and product management costs, and to support client education programs and seminars. In return for the payments, fund companies are given access to our branch offices for the purpose of educating our Financial Advisors and informing them about available products. Our Financial Advisors do not receive any extra commission for selling funds from these companies. Each Financial Advisor individually evaluates the funds and then works with you to choose the appropriate investment for your financial needs. RBC CM has a conflict of interest associated with utilizing these third party providers that make payments to RBC.
The fund companies generally make these payments, which may be based on assets and/or sales volume, to RBC CM via the fund’s distributor, investment advisor, or other entity from the management fees they earn. More information on payments may be found in a fund’s prospectus or Statement of Additional Information (SAI). Financial Advisors may receive a portion of these payments for distribution and servicing expenses related to shares of money market funds included as sweep options to cash accounts. The payment formula is consistent for Financial Advisors on all of these funds. The following list represents the fund companies making asset and/or sales-based financial payments to RBC CM, in order of financial contribution, from November 1, 2016 to October 31, 2017: RBC, Federated, American Funds, Blackrock, Franklin Templeton, Thornburg, Oppenheimer, JP Morgan Funds, Fidelity, Dreyfus, Invesco, Lord Abbett, Russell Fund Distributors, Oak Ridge, Hartford Funds, Pioneer Investments, Ivy Funds, Burnham Funds, Brandes, Janus Henderson Funds, Cambiar Funds, Putnam, AB, Goldman Sachs, Deutsche Asset Management, PIMCO, Pax World Funds, IVA Funds, Wells Fargo, John Hancock, LoCorr Funds, Stadion Funds, Columbia Threadneedle, DoubleLine Funds, Conestoga Funds, Voya, Allianz Distributors LLC, Prudential, REMS, Principal Funds, Delaware Investments, Intrepid Capital Funds, Satuit Capital, Dunham & Associates, Mutual Hedge, Guinness Atkinson Funds, Arbitrage Fund, Rice Hall James, Third Fifth Avenue, Gabelli, Sunamerica, Nuveen Asset Management, First Eagle, Lazard Funds, Alger, First Trust, Touchstone, Mainstay Investments, Guggenheim, AMG Funds, MFS, AQR Funds, Wasatch, Calamos Funds, William Blair, Cohen & Steers, Davis Funds, Tocqueville, Natixis, Sentinel Funds, St. James Capital Management, Matthews Asia, Harding Loevner Funds, Weitz Investment Management, ALPS Funds, Matthews International, Carillon, Transamerica, Baron, American Beacon, Legg Mason, Ridgeworth Funds, Vanguard, Cullen Funds, Victory, Swan, Marshfield, Payden and Rygel, Neuberger & Berman, T. Rowe Price, Pacer, Emerald Funds, PNC Funds, State Street Global Advisors (SSGA), Stringer Asset Management, Highland Capital, Alternative Core Solutions, Buffalo Funds, Van Eck, Morgan Stanley, Sage Advisory, Pro Shares, Causeway Funds, Madison Investments, Virtus, Keeley Investments, Manning and Napier Funds, Eaton Vance, ICON Mutual Funds, RS Funds, Salient Funds, Pacific Funds, Riverfront Investments, Eagle Asset Management, Reaves Asset Management, Integrity Viking Funds, Credit Suisse, PROFUNDS, Polen Capital Management, GaveKal, Aquila, MainGate, Wealth Management Solutions Incapital, Advisor Asset Management, American Century, Sierra Mutual Funds, TCW Galileo Funds, Astor, James Alpha Management, JOHCM Funds, Brown Advisory, Amana Funds, Eventide, Nationwide, Sterling Capital Funds, AIG, Catalyst Funds, Frost Funds, Aberdeen, Angel Oak, 361 Funds, Olstein Funds, Pacific Life, Global Atlantic, Aristotle Capital Mgmt, Multi - Funds, HRC Fund Associates, Palmetto Advisory Group, SEI, Arrow Funds, Westwood Mutual Funds, Blackstone, BP Capital, Advisory Research, Wisdom Tree, Viking, Janus Henderson Investors, SIT, PGIM Investments, Thomson Horstmann, Horizon Kinetics, Weitz Investment Management, Direxion ETFs, Abbey Capital, Vanguard, Poplar Forest Capital, Miller Howard, Geneva Advisors, Madison Investments, API funds, Northern Trust, Century Funds, FAM, Global X, Diamond Hill Mutual Funds, Power Shares, Princeton, Campbell & Company, RMB Capital, Napier Investments, Yactman Funds, Kopernik, Eagle MLP, Fifth Third Funds, Kinetic Funds, Center Coast, Greenspring, City National Bank, Altegris, Alpine, Glenmede, Ameritas, Fund X, Parnassus, Congress Asset Mgmt Co, Equinox Managed Futures, Quaker Funds, Chartwell Investment Partners, USAA Group, Gotham, Hancock Horizon, First National Bank, Saratoga, Dearborn Partners.
RBC CM also receives payments to help offset the cost of managing shareholder accounts. These expenses include sending shareholder statements, maintaining shareholder records and performing regulatory mailings. RBC CM has a conflict of interest in utilizing firms that make payments to RBC CM over firms that do not make payments. RBC CM has a conflict of interest in choosing higher expense ratio share classes where we receive payments from fund families to help offset certain operational costs that RBW CM incurs in connection with distributing mutual funds. The following list represents the fund companies making payments that can be based on either a per-account fee or asset-based position fee, in order of total payment received, from November 1, 2016 to October 31, 2017: American Funds, Franklin Templeton, Invesco, T Rowe Price, Oppenheimer, PIMCO, Fidelity, Blackrock, MFS, First Eagle, JP Morgan Funds, Thornburg, Lord Abbett, Janus Henderson, Natixis, Putnam, Ivy Mackenzie, Artisan Funds, Columbia Funds, Legg Mason, John Hancock, Pioneer, Principal Funds, AB, Russell Fund Distributors, Federated, Hartford, Wells Fargo, FPA Funds, Prudential, Deutsche Asset Management, Mainstay, Nuveen Flagship Funds, Eaton Vance, Diamond Hill Funds, Goldman Sachs, Transamerica Premier, Victory, Sunamerica, Davis Funds, Virtus Investments, AMG Funds, Gabelli, Calamos Funds, Cohen & Steers, Alger, Guggenheim, Pax World Funds, Voya Funds, Neuberger & Berman, Oakmark, Allianz Distributors LLC, Dreyfus, AQR Funds, Riverpark, Metropolitan West, Royce, Highland, American Century, DoubleLine Funds, UBS Funds, Princeton, Touchstone, Harding Loevner Funds, Carillon, Champlain, Delaware, Harbor Funds, Catalyst Funds, Swan, BBH Funds, Rivernorth, Polen Capital Management, TCW Galileo Funds, LoCorr Funds, American Beacon, Sentinel Funds, Morgan Stanley, Aston Funds, Brandes Funds, IVA Funds, World Funds, Salient, Cambiar Funds, Boston Common, William Blair, RJL, Fifth Third Avenue, Mairs and Power, PNC Funds, Pacific Funds, Angel Oak, Jensen Funds, Cullen Funds, Westwood , Weitz Funds, Conestoga Funds, JOHCM Funds, Van Eck, Matthews International, Keeley Investments, Abbey Capital, Aberdeen Funds, Wasatch, Advisory Research, Castle Funds, Calvert, Hotchkis & Wiley, Oakridge, Nationwide, Tocqueville, Integrity, Olstein, GaveKal, Arrow Funds, Foliometrix, Driehaus Securities Corp, Kinetics Asset Mgmt Inc, Buffalo Funds, Caldwell & Orkin, ALPS Funds, Saratoga, Madison, Seafarer, Ridgeworth, Sterling Capital, Maingate, Brookfield, Miller Funds, Liberty Street Horizon, Snow Capital, Marketfield, Permanent Portfolio, Akre, RBC, Aquila, Equinox, Emerald Funds, SEI, 361 Funds, Stadion, Poplar Fores, Cavalier, Osterweis Funds, Chartwell, API, Frost, Mutual Hedge Frontier Legen, Good Harbor, Sierra, Grandeur Peak, Kopernik Funds, Broadview Funds, WCM, Tweedy Browne, Leuthold, Intrepid Capital Funds, Hancock Horizon, USAA Funds, Charles Schwab & Co, RS Funds, FAM, First Trust, Manning and Napier Funds, Altegris Funds, Roosevelt Funds, ICON Mutual Funds, TIAA Cref, New Alternatives, Causeway Funds, PCS Commodities, Forward Funds, Quaker Funds, Amana Funds, Profunds, Geneva Funds, Thompson Plumb Growth Fund, Arbitrage, Gotham Funds, Payden and Rygel, Stringer, MD Sass, Stifel Nicolaus, Westshore, Wentworth, Hauser & Violich, Hatteras, Vulcan, JAG Funds, City National Rochdale, PMC Funds, Dunham & Associates, Glenmede, Polaris Funds, Wintergreen, Frontier Funds, Reaves Asset Management, Absolute Advisors, Satuit Capital, SSGA Funds, TFS Capital, BP Capital, Appleseed, Guinness Atkinson Funds, Oak Associates, Chase, Longboard, AL Frank Funds, Blackstone, USA MUTUALS, Rainier, Dearborn Partners, Evermore Funds, Rothschild, Green Century, Direxion Funds, Thomas White Funds, APEX, Redwood, 13D Activist, Private Capital Management, Bushido Funds, Marshfield, Huber Capital Management.