Investment Objectives

When you open an account with us, we ask you to identify your investment objective, choosing one of the options below (ranked generally from more conservative to more aggressive).

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How We Are Compensated

J.J.B Hilliard, W.L. Lyons, LLC (“Hilliard Lyons”) offers both traditional brokerage accounts and advisory accounts. Fees and services vary based on whether the accounts are brokerage or advisory and in the case of advisory accounts, the nature of the advisory program. Your Wealth Advisor receives a portion of the fees or commissions that Hilliard Lyons receives and therefore has an incentive to recommend products and services to you.

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Understanding Mutual Funds

Hilliard Lyons offers a wide array of investments to help you achieve your goals and objectives. Mutual Funds may be a good choice for you to consider. But before you invest in any type of security, you must first understand the associated risks, the costs involved, how costs and expenses are charged, and how your Wealth Advisor is compensated. This guide will help you make choices that best suit your needs. Each mutual fund is different, so you should carefully review its prospectus before investing.

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Leveraged and Inverse Funds

Learn more about the FINRA and SEC "Investor Alert" on Leveraged and Inverse Funds and the potential issues and risks associated with these products.

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Risks of Borrowing On Margin

Learn basic facts about the use of borrowing on margin the risks involved with trading securities in a margin account.

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How to Protect Your Personal Information

Hilliard Lyons is committed to protecting your privacy. We have implemented a number of controls to protect confidential client information.

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Helpful Links

View helpful links to third-party sites. 

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Company Information and Disclosures

Financial Statements

Cost Basis Reporting Disclosure

Provisions of the Emergency Economic Stabilization Act of 2008 established cost basis reporting requirements for financial institutions including Hilliard Lyons. According to the relevant IRS regulations, beginning with the 2011 tax year we must report to the Internal Revenue Service on client tax forms (1099-B,) gross proceeds as we have in the past along with cost basis for covered securities disposed as well as any information related to the amount of gain or loss and whether the gain/loss is long-term or short-term.

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Business Continuity

We plan to continue business in the event of a significant business disruption, with a planned recovery time proportional to the disruption’s severity. Our business continuity plan will let us continue to perform mission-critical services after a building-only, city-wide, or regional business disruption. 

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Regulatory Information

USA PATRIOT Act Information

To help combat funding for terrorism and money laundering activities, Hilliard Lyons and its affiliates are mandated to verify the identity of all persons who establish a customer relationship with the Firm.

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Quarterly Reporting for SEC Rule 606

The Securities and Exchange Commission Rule 606 of Regulation NMS requires every broker-dealer that routes orders to make publically available quarterly reports that presents statistical information about non-directed customer orders in certain equity and option securities. The quarterly report must disclose any material aspects of the broker-dealer’s relationship with each of the top ten venues with the largest number of non-directed orders. 

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Municipal Securities Group Disclosures

Municipal Securities Group Legal Disclosures

The information and statistics in Municipal Securities reports have been obtained from sources we believe are reliable but we do not warrant their accuracy or completeness. We do not undertake to advise the reader as to changes in figures or our views. This is not a solicitation of an order to buy or sell any securities.

Municipal Securities Group Publications

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For more disclosures and information related to your accounts and investments visit:

Investor Information