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).
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.
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.
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.
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.
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.
View helpful links to third-party sites.
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.
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.
1. MSRB Rule G-17 requires an underwriter to deal fairly at all times with both municipal issuers and investors.
2. An underwriter’s primary role is to purchase securities with a view to distribution in an arm’s-length commercial transaction with an issuer; and an underwriter has financial and other interests that differ from those of such an issuer.
3. Unlike a municipal advisor, an underwriter does not have a fiduciary duty to an issuer under the federal securities laws and is, therefore, not required by federal law to act in the best interests of that issuer without regard to its own financial or other interests.
4. An underwriter has a duty to purchase securities from an issuer at a fair and reasonable price, but must balance that duty with its duty to sell those securities to investors at prices that are fair and reasonable.
5. An underwriter will review the official statement, if any, for those securities in accordance with, and as part of, its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of the transaction.
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.
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.