Are you a little fuzzy about how much your investment broker actually charges you? 

You’re not alone. According to a recent survey by the North American Securities Administrators Association, nearly one-third of investors said their firm had no such charges and one-quarter indicated they did not know whether they were being charged. 

Of the investors who know they are being charged service and maintenance fees, more than half indicated that they did not know the amount of these fees.

In recognition of Financial Literacy Month, the Iowa Insurance Division todayissued an advisory urging investors to ask for fee information when opening an account, to watch for fee changes and to learn the terms their firm uses in describing the services for which it charges. 

The Iowa Insurance Division’s Securities Bureau is available to answer questions about fees charged by broker-dealer firms as well as other investments in general. 

Iowans can get help by calling 877-955-1212 or by emailingIowaSec@iid.iowa.gov.