Introduction
A mutual fund is a collection of securities owned by a group of investors and managed by a professional investment adviser. A mutual fund pools investors' money to invest in a portfolio of stocks, bonds, money markets or a combination of these asset classes. Because the fund typically holds many different types of securities within a particular asset class, it offers greater diversification than you could achieve on your own. Most mutual funds aim at a particular objective—whether immediate income, income and growth, or long-term growth.
Revenue Allowance for Marketing, Education & Training
Some mutual fund families pay Park Avenue Securities (PAS), Guardian's retail broker/dealer subsidiary, a revenue allowance for marketing, education, and/or training in support of our Financial Representatives. Since this information may be an important consideration in your decision to purchase a particular mutual fund product, you should read more about these payments in each mutual fund prospectus and statement of additional information. PAS is paid a flat dollar amount on a quarterly basis that is not tied to any assets placed with the mutual fund company for providing marketing and educational opportunities and a level of access to PAS Financial Representatives. Please see the below chart for more detailed information. Accepting this type of compensation presents a conflict of interest because PAS has an incentive to recommend this investment company based on the compensation it receives, rather than client needs.
It is important to note that PAS Financial Representatives do not receive any portion of these fees, which are separate from and in addition to other fees and charges applicable to each product.
Representatives of mutual fund families, subject to the discretion of Branch Office Managers, may be provided access to our branch offices and Financial Representatives for educational, marketing and other promotional efforts.