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 WM 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, 2018 to October 31, 2019: RBC, Federated, BlackRock, Franklin Templeton, Oppenheimer, Thornburg, American Funds, Lord Abbett, Janus Henderson, Invesco, Amundi Pioneer, Russell Investments, JP Morgan Funds, Ivy Funds, Hartford, Allianz, PIMCO, Putnam, Gabelli, AB, Dreyfus, First Trust, Principal Funds, DWS, Goldman Sachs, IVA Funds, VOYA Financial, John Hancock, Delaware, Wells Fargo, DoubleLine Funds, PGIM Funds, Vanguard, Lazard Funds, Nuveen, Touchstone, MFS, Morgan Stanley, Wasatch, Columbia Threadneedle, Calamos Funds, Alger, First Eagle, AIG Funds, Fidelity Advisors, Cohen & Steers, Transamerica, T. Rowe Price, Marshfield Associates, Eaton Vance, Guggenheim, Pacific Life, Mainstay, Natixis, Harding Loevner, AMG Funds, Carillon Tower Advisors, Neuberger & Berman, Barings, Legg Mason, Brandes Investment Partners, AQR Funds, Conestoga Capital Advisors, Sage Advisory, Lincoln Financial, Madison Investments, Dimensional Fund Advisors, Baron Funds, Matthews International, Davis Funds, LoCorr Funds, American Beacon, PNC Funds, ALPS, Victory Capital, Nationwide, Cullen Funds, CenterStone Investments, Payden and Rygel, Amana Funds, Van Eck, Brookfield, Tocqueville, Causeway, Emerald Funds, Manning & Napier, Virtus, Polen Capital, Stadion Funds, Stringer Asset Management, Westwood, Catalyst, American Century, Profunds, Zacks Investment, Trillium Asset Management, Highland Funds, Angel Oak, Keeley Investments, Advisor Asset Management, Buffalo Funds, State Street Global Advisors, Northern Trust, JOHCM Funds, IM Global Partners, ICON, BNY Mellon, Aquila, Swan, Frost Funds, Brown Advisory, PaxWorldFunds, Arbitrage Fund, Sierra Mutual Funds, Reaves Asset Management, FPA Funds, Salient Funds, Gavekal, Astor, Advisory Research, Aberdeen, Eagle Funds, Oak Ridge, James Alpha Advisors, Saratoga, Burnham Funds, Port Street Investments, RiverNorth Funds, Credit Suisse, 13D Activist Fund, Chartwell Funds, Intrepid Capital Funds, Cambiar Funds, Aristotle, Tortoise Capital Advisors, Olstein Funds, Sterling Capital Funds, City National Bank, Alpine Capital Research, Artisan Funds, TCW, Loomis Sayles Funds, William Blair & Co, CBOE Vest, Princeton, Chiron, Miller Investment, Metropolitan West Funds, Poplar Forest Capital, Kinetic Funds, Mirae, Howard Miller Investments, Dunham & Associates, Integrity, REMSGroup, MainGate, Equinox, Grandeur Peak, Guinness Atkinson Funds, American Growth, Rice Hall James, Eventide, Yorktown Funds, Fuller and Thaler, Diamond Hill Mutual Funds, Destra Capital, API Funds, Crossmark Global Investments, Altegris, Arrow Funds, Kopernik, Calvert, Longboard Asset Management, Satuit Capital, Muzinich, Blackstone, Weitz.
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 WM has a conflict of interest in utilizing firms that make payments to RBC WM over firms that do not make payments. RBC WM 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 WM 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, 2018 to October 31, 2019: American Funds, BlackRock, T. Rowe Price, Invesco, Franklin Templeton, PIMCO, MFS, Putnam, Lord Abbett, Fidelity Advisors, JP Morgan Funds, First Eagle, Janus, Columbia Funds, Oppenheimer, Natixis Funds, Artisan Funds, Thornburg, Principal Funds, Federated, John Hancock, Pioneer, AB, Wells Fargo, Russell Fund Distributors, Eaton Vance, Mainstay, Legg Mason, Nuveen, Hartford, Allianz, PGIM Funds, AIG, Oakmark, Diamond Hill, Transamerica Premier, Alger, Virtus Investments, Victory, FPA Funds, Ivy Mackenzie, Calamos, Goldman Sachs, DWS, Spirit Of America, Guggenheim, Gabelli, Davis Funds, JOHCM Funds, Carillon, Voya Funds, Dreyfus, Neuberger & Berman, Harding Loevner Funds, Champlain, Pax World Funds, AMG Funds, DoubleLine Funds, Delaware, Touchstone, Cohen & Steers, Metropolitan West Funds, American Beacon, Polen Capital Management, Princeton, Morgan Stanley, Royce, American Century, AQR Funds, Harbor Funds, Angel Oak, UBS Funds, Advisory Research, Brookfield, Madison, Pacific Funds, Parnassus, WCM, Westwood, William Blair & Co, Conestoga Funds, Dimensional Fund Advisors, Swan, Locorr Funds, Rivernorth Funds, Catalyst Funds, IVA Funds, BBH Funds, Alphacentric, RBC, Brandes Funds, Cullen Funds, TCW Galileo Funds, Cavalier, Centerstone Investments, Boston Partners, Jensen Funds, PNC Funds, Mairs And Power, RJL, Wasatch, Causeway Funds, Glenmede, Matthews International, Fifth Third, Abbey Capital, Nationwide, Keeley Investments, Manning and Napier Funds, Castle Funds, Aberdeen, Van Eck, Highland, Marshfield, Akre, Integrity, Kinetics Asset Mgmt Inc, Hancock Horizon, Riverpark, Weitz Funds, Cambiar Funds, Hotchkis & Wiley, Miller Funds, Salient, Alpine, Blackstone, Buffalo Funds, Astor, Seafarer, Poplar Forest Partners, Sterling Capital, 361 Funds, ALPS, Stadion, SEI, USAA Funds, Emerald Funds, Port Street, Olstein, Kopernik Funds, Permanent Portfolio, First Trust, Maingate, Frost, Altegris Funds, Calvert, TIAA Cref, Tweedy Browne, Broadview Funds, Oak Ridge, Tocqueville, Infinity Q, Gavekal, World Funds, Arrow Funds, Aquila, API, Amana Funds, Marketfield, FAM, Sierra, Chartwell, Driehaus, Equinox, Evermore Funds, Snow Capital, Leuthold, Osterweis Funds, Edgewood, Grandeur Peak, New Alternatives, EIC Value Fund, Boston Common, Oak Associates, PCS Commodities, Good Harbor, Fuller Thaler, Equinox, Mirae, Reaves Asset Management, Profunds, Boston Trust & Walden, Portfolio 21, Thompson Plumb Growth Fund, Arbitrage Funds, Gotham Funds, Icon Mutual Funds, Hatteras Funds, Charles Schwab & Co, Wildermuth, Stifel Nicolaus, PMC Funds, Intrepid Capital Funds, Payden and Rygel, Longboard Asset Mgmt, Forward Funds, Caldwell & Orkin, CRA Qualified Investment Fund, Polaris Funds, Rothschild, Stringer, Appleseed, Quaker Funds, Dunham & Associates, BTS Funds, Shelton Capital, SSGA Funds, Guinness Atkinson Funds, BP Capital, Ameristock, MD Sass, Vulcan Value Partners, JAG Funds, Green Century, Wintergreen, Balter Funds, Absolute Advisors, Dearborn Partners, AL Frank Funds, Aristotle Funds, 13D Activist Fund, Navigator, Thomas White Funds, Redwood, Chase Investments, USA Mutuals, City National Rochdale, CMG, Satuit Capital, Lebenthal Lisanti, Chiron, Private Capital Management, Power Funds, GQG, Huber Capital Management, Direxion Funds, Segall Bryant & Hamill, Nuance, Rational Funds