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Advisors and Brokers who charge fees to their clients have a Client Fees section included in their master account statement. The Client Fees section is split up by commissions and fees. It is sorted by currency then by account. Commission or fee revenues from the client are shown in the Revenue column, and commission expenses paid to IB for execution and clearing services are shown in the Expense column. The net is the profit made by the advisor or broker. Fees in a non-base currency are translated to the base currency using the conversion rate in effect on the day of the fee.
Advisors and Brokers can view expenses and revenues for each account on a separate line in the statement. In HTML/WEB-formatted daily statements, each account is expandable and collapsible. In HTML/WEB- or PDF-formatted monthly and annual statements, only the summaries are displayed. You can also use the Expand All/Contract All/Add Scroll and Remove Scroll links at the top of the section to make it easier to view the details.
Note: This section appears in the Default Statement and Legacy Full Default Statement.
|Account ID||The account number.|
|Date/Time||The date and time of the client fee.|
|Description||The description of the client fee.|
|Revenue||The amount of revenue associated with the client fee.|
|Expense||The amount of expense associated with the client fee.|
|Net||The net of revenues and expenses.|
|Net in Base||The net amount in base currency.|
|Revenue in Base||The amount of revenue in base currency.|
|Expense in Base||The amount of expense in base currency.|
Total amounts for the following fields appear at the bottom of commissions and fees.