If a customer invests $18,000 in a mutual fund and signs a letter of intent for $25,000 to qualify for a breakpoint. One year later, the shares are valued at $25,100, even though the customer has made no new investments. Does price appreciation of the shares satisfy the LOI? or client still has to put $7k in before the LOI expires? Please advise.
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Hi @A11, the breakpoints are based on the amount of money going in at the time of purchase. The value of the shares changing along with the market, positive or negative, wouldn’t have an impact there.
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