Client Relationship Summary

March 15, 2022                                                                                        

Whitehall-Parker Securities, Inc.(WPS) is registered with the Securities and Exchange Commission(SEC) as a broker-dealer and is a member of the Financial Industry Regulatory Authority(FINRA) and the Securities Investor Protection Corporation(SIPC).  Free and simple tools are available at investor.gov/CRS, which provides educational materials about broker-dealers and investing.

WHAT INVESTMENT SERVICES AND ADVICE CAN YOU PROVIDE ME? We offer brokerage services(including buying and selling securities) to retail investors.  We perform these services after gathering information about you and making a recommendation to you.  In some cases, we will accept from you with your approval some limited discretion to determine when and at what price we purchase or sell securities for you. We may contact you and offer advice about your existing holdings, but we will not be performing formal account monitoring. We have no investment or account minimums.  However, our representatives may at their discretion employ account minimums.  We have no eligibility requirements, except those stated in the offering documents of certain investments.  We have no proprietary products, but we are able to offer a wide variety of investments.  If our firm does offer you an investment in which we have some financial interest, that conflict of interest will be fully disclosed to you prior to executing any transaction in that security for you. You make the ultimate decision about investment purchases and sales, and you should always discuss any concerns you have with your representative before transacting.

We encourage you to research the SEC’s Regulation Best Interest disclosures on the internet and our website at Whitehall-Parker.com. We recommend you ask your financial professional:

  1. Given my financial situation, should I choose a brokerage service?  Why or why not?
  2. How will you choose investments to recommend to me?
  3. What is your relevant experience, including your licenses, education, and other qualifications?  What do these qualifications mean?

WHAT FEES WILL I PAY?  In a brokerage account you will typically pay a stated commission on each transaction, which you can negotiate with your financial professional prior to any transaction.  Some commissions are fixed and stated in underlying investment disclosure documents(e.g. prospectuses for public offerings and mutual funds, private placement memorandums for private offerings, and insurance contracts for variable annuities and other variable insurance policies).  You will pay some stated ongoing monthly or quarterly trail commissions on mutual funds and some insurance contracts.  Our firm may transact purchases and/or sales of bonds on a principal basis in which we buy or sell securities in our account and mark them up(purchases) or down(sales) to you.  You can negotiate these markups and markdowns with your financial professional prior to any transaction.  Your financial professional typically will determine appropriate commissions based on your account size, overall activity, transaction size, transaction costs, and the amount of work performed by the professional.  We review these fees to ensure their reasonableness, but we encourage you to discuss them in detail with your financial professional.  The decisions by financial professionals about the types of investments to recommend and the fees charged create conflicts of interest, of which you should always be aware.  You should always consider the fees of any investment before agreeing to invest.  Greater amounts of transactions cause you to incur greater investment fees.  You should always discuss with your financial professional the need for more or less activity in your account.  You may incur other fees to maintain your investment portfolio, including custodian fees(retirement accounts) and fees from our clearing firm(Pershing, LLC) to handle fund transfers, dividend reinvestments, stopped checks, inactive accounts, and terminations.  Your financial professional can always describe these fees in as much detail as you require.

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.  We encourage you to do your own research on the internet about typical fees in this industry.  Additional helpful information can be found in the Regulation Best Interest disclosures by the SEC on the internet.  We also encourage you to discuss these fees with your financial professional.  Consider asking the following:  Help me understand how these fees/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 MY BROKER-DEALER?  HOW ELSE DOES YOUR FIRM MAKE MONEY AND WHAT CONFLICTS OF INTEREST DO YOU HAVE?  When we provide you with a recommendation as your broker-dealer, we have to 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.  In brokerage accounts we will earn commissions on stock purchases and sales and/or markups and markdowns on bond purchases and sales determined by your financial professional, fixed commissions(“loads”) stated in fund prospectuses on mutual fund purchases, fixed commissions stated in insurance contracts on variable annuities or other variable insurance policies/prospectuses on public offerings/private placement memorandums on private offerings, and ongoing trail commissions on mutual funds and insurance contracts.  In some public and private offerings we may earn a stated due diligence fee to reimburse our firm for resources expended to understand certain securities, to determine critical disclosures are accurate and properly made, and to ensure such securities are appropriate for our clients.  Some issuers of investment securities contribute to our costs to educate our financial professionals about various investments and in return are allowed to speak directly with our financial professionals at our regular meetings.  We will disclose to you all commissions, due diligence fees, and trails prior to each transaction.  Because commissions, due diligence fees, and trails vary by type of investment and generally increase by transaction size, conflicts of interest exist.  We will be compensated differently based on the course of action we recommend to you.  We recommend that you research these arrangements on the internet, refer to our website (Whitehall-Parker.com), and review the SEC’s Regulation Best Interest disclosures on the internet.  We recommend that you discuss these items and issues with your investment professional prior to agreeing to any transaction and negotiate commissions that are acceptable to you for the brokerage service to be provided.  Ask your financial professional:  How might your conflicts of interest affect me, and how will you address them?

HOW DO YOUR FINANCIAL PROFESSIONALS MAKE MONEY? Your financial professional will be compensated by earning a percentage of any brokerage commissions.  That percentage is either fixed or based on a schedule negotiated between the financial professional and our firm.  Each financial professional will earn more compensation by performing more or larger transactions.  You should be aware of this conflict of interest when interacting with your investment professional.  Our firm does not conduct sales contests and does not provide incentives above and beyond the stated commissions on each investment.  Our firm does not impose sales quotas on our representatives or advisors.  Our firm encourages our financial professionals to recommend transactions that are in the customer’s best interest.  

DO YOU OR YOUR FINANCIAL PROFESSIONALS HAVE LEGAL OR DISCIPLINARY HISTORY?  Yes.  Please visit investor.gov/CRS for a free and simple search tool to research us and our financial professionals.  We encourage you to ask your financial professional:  As a financial professional, do you have any disciplinary history?  For what type of conduct?

ADDITIONAL INFORMATION   For additional information about our services, please refer to our website(Whitehall-Parker.com).  If you would like additional, up-to-date information or a copy of this disclosure, please call (415) 421-5935.  We encourage you to ask your financial professional:  

  1. Who is my primary contact person? 
  2. Is he or she a representative of an investment adviser or a broker-dealer?  
  3. Who can I talk to, if I have concerns about how this person is treating me?

We value you as a client.  Thank you for working with Whitehall-Parker Securities, Inc.