I. Introduction
Univest Securities, LLC (“Univest”, “we”, or “us”) is registered with the U.S. Securities and Exchange Commission (SEC) as a broker dealer and is registered in the State of New Jersey as an investment advisor; however, we do not offer advisory services at this time. Univest is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Univest Securities, LLC, is also an introducing brokerage firm of Velox Clearing LLC with two public websites, Univest.us and Winstrade.net. Brokerage and investment advisory services and fees differ and it is important for you to understand these 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.
II. Relationships and Services
WHAT INVESTMENT SERVICES AND ADVICE CAN YOU PROVIDE ME?
- We offer a broad range of brokerage services to retail investors for investments in public market securities such as common stocks, individual corporate and municipal bonds, and other investments. Our financial professionals will assist you with recommendations and developing an investment strategy based on your investment goals and risk tolerance.
- In general, our brokerage services are non-discretionary, which means that you make the ultimate decision whether to buy, sell, hold, or exchange an investment.
- We do not provide advice regarding which investments may be appropriate for you in light of your investment objectives or monitor brokerage account investments to ensure they meet your investment objectives unless we state otherwise in writing. This means that you are responsible for reviewing your account and investments to make sure your investment mix is appropriate and for deciding whether to follow our investment recommendations if we make them.
- There are no account minimums to open and maintain a brokerage account with us as shown on the Brokerage section of our website.
For additional information about brokerage services, please see Univest.us or Winstrade.net.
CONVERSATION STARTERS. Ask your financial professional:
- Given my financial situation, should I choose a brokerage service? Why or why not?
- How will you choose investments to recommend to me?
- What is your relevant experience, including your licenses, education, and other qualifications? What do these qualifications mean?
III. Fees, Costs, Conflicts, and Standards of Conduct
WHAT FEES WILL I PAY?
- You pay us a fee, called a commission, for each security you buy or sell. The more transactions you make, the more fees you pay us. As a result, we have an incentive for you to trade more frequently and in greater volume because we generally receive more fees when you do so.
- You pay additional fees for custodial or administrative services, such as wire transfers, returned checks, retirement account closeouts, and express mail delivery. These fees are shown on your client statement.
- Mutual funds, ETFs, Private Funds and similar products typically charge their own separate fees and other expenses. See the applicable prospectus or offering document for more information about these fees and expenses.
You will pay 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.
For additional information, including the commissions charged for particular products, please see our Commission and Fee Schedule and/or the applicable offering document.
CONVERSATION STARTER. Ask your financial professional:
- Help me understand how these 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?
WHAT ARE YOUR LEGAL OBLIGATIONS TO ME WHEN PROVIDING RECOMMENDATIONS AS A BROKER-DEALER OR WHEN ACTING AS MY INVESTMENT ADVISER? HOW ELSE DOES YOUR FIRM MAKE MONEY AND WHAT CONFLICTS OF INTEREST DO YOU HAVE?
When we provide you with a recommendation, we must act in your best interest and not put our interest ahead of yours. At the same time, 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 and recommendations we provide you. Here are some examples to help you understand what this means:
- We have an incentive for you to invest in third-party funds that pay us distribution (12b-1) fees over funds that do not pay us 12b-1 fees, or those that pay us lower fees.
- Margin accounts are accounts that allow you to borrow money collateralized or secured by the holdings in your account. We have an incentive for you to maintain a margin account because when you do we receive a portion of the margin interest paid on margin balances in your brokerage account.
For additional information, please see our Commission and Fee Schedule and/or the applicable disclosure document.
CONVERSATION STARTER. Ask your financial professional:
- How might your conflicts of interest affect me, and how will you address them?
For additional information, please see the Brokerage section of our website, our Brokerage Account Agreements and/or the applicable offering document.
HOW DO YOUR FINANCIAL PROFESSIONALS MAKE MONEY?
We pay our financial professionals a portion of the commissions generated by each transaction in your account. Our financial professionals do not receive bonuses or “non-cash” compensation. Accordingly, our financial professionals have an incentive to recommend investments that generate the highest level of commissions in your account.
IV. Do You Or Your Financial Professionals Have Legal Or Disciplinary History?
Yes. Visit Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.
CONVERSATION STARTER. Ask your financial professional:
- As a financial professional, do you have any disciplinary history? For what type of conduct?
V. Additional Information
For additional information about our brokerage services, go to the Brokerage section of our website and/or see the applicable offering document. If you would like additional information or a copy of this Form CRS, call 1-212-343-0000.
CONVERSATION STARTERS. Ask your financial professional:
- 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?