In recognition of Financial Literacy Month, (April 1-30) the Secretary of State’s office today issued an advisory to help raise investor awareness about fees charged by broker-dealer firms for services and maintenance of investment accounts.

“A key component of building financial literacy is understanding what you need to know and where to find it,” Secretary Lawson said. “That is especially important when it comes to understanding what services you are paying for and how much you are paying.”

The advisory follows new research from the North American Securities Administrators Association (NASAA), of which the Secretary of State’s office is a member. The research shows investors are confused about brokerage service and maintenance fees and want clear and easy access to fee information from their broker-dealer firm.

A national public opinion poll commissioned by NASAA found that fees are important to investors but a general lack of standardization and clarity in their disclosure has left investors unaware of how much their broker-dealer firm charges for the service and maintenance of the investment accounts.

To help raise investor understanding of broker-dealer fees, the Secretary of State’s office suggests investors focus on the timing, method and content of fee disclosures.

• Pay attention. Fees are typically disclosed when a customer account is opened. Ask for a fee schedule and make sure it is up to date. If it is not readily available, do not place any assets until it is provided. You have the right to know the fees in advance. Also, watch out for fee changes. Most broker-dealers disclose fee changes at least 30 days in advance, but they may use different methods to reach investors. Make sure your broker dealer firm knows how you prefer to be contacted.
• Read the fine print. Most broker-dealer firms disclose fees for certain services on a table, chart, or list, while some use a narrative, but it may not list dollar amounts or formulas. If you do not see a section on fees and charges, ask for it. Investors are responsible for reading and understanding all materials provided by a broker-dealer.
• Talk the talk. Different firms may use different terms for the same service. Know the services you may be using regularly and ask specifically what terms a firm uses for its services and the associated fees.

“Savvy consumers know it is important to compare prices on similar products to get the best value for their money,” Indiana Securities Commission Carol Mihalik said. “Wouldn’t it be nice if the same were true when shopping for a broker-dealer firm to handle your investments?”

The advisory is available on the agency’s website at http://www.in.gov/sos/indianamoneywise/files/NASAA_BD_Fees_IN.pdf. For more information, contact the Secretary of State’s Securities Division at 317-232-6682 or atsos.in.gov

Governor Mike Pence highlighted the Hoosier State’s recent growth and success in flight and space at the Indianapolis Business Journal’s ” conference. The event, which drew more than 500 attendees, convened policy makers, academic leaders and industry executives from across the state.

During his remarks, Pence credited Indiana’s partnerships between these institutions as the key to the state’s progress in the industry.

“It is a special moment in the life of our state because the people of Indiana have a vision,” said Pence. “That vision is focused on growing our economy on the foundation of innovation and on the foundation of partnerships that allow businesses to seize every opportunity available. These fundamentals are still what attract businesses to Indiana.”

This principle is evident as top Hoosier companies in aviation, aerospace and defense, including Rolls-Royce, GE Aviation, BAE Systems, Alcoa and Raytheon, continue to grow. Since 2002, Indiana exports for the aircraft and spacecraft industries have expanded at an average annual rate of nearly 30 percent. Those companies helped Indiana add 1,700 private sector jobs in February alone, and more than 260,000 since July 2009.

Last year, GE Aviation announced plans to build a $100 million jet engine facility in Lafayette, projecting to create 200 new jobs, while Raytheon recently announced a 25 percent increase to its Indiana team, bringing 250 new high-wage, defense and aerospace industry jobs to the state.

“It’s hard to keep up with all of the great aerospace news in Indiana. We’re proud that Indiana has embraced policies to keep companies saying ‘yes’ to the people of Indiana and ‘yes’ to the Hoosier State,” said Pence. “We look forward to continuing to fly our flag boldly and say that Indiana is open for aerospace business.”

Pence honored one of the industry’s leading executives, Rolls-Royce North America President and Chief Executive Officer Jim Guyette, with an Honorary Hoosier Award for his 17 years of service to the company and his ongoing dedication to the state. As an early member of the state’s aerospace industry, Rolls-Royce helped lay the foundation that has attracted other aerospace powerhouse companies to Indiana.

“Aerospace is my space, and I’m just as excited about the discovery and the innovation as I was in 1967,” said Guyette, who will retire next month. “Indiana has not only the infrastructure, the incentives and the culture to support this industry, but the high-quality education system that builds skills as well as character in students who will become the next generation of leaders. Our universities, this workforce development, is our competitive edge here in Indiana.”

About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.

Kent Abernathy, Commissioner of the Indiana Bureau of Motor Vehicles (BMV), announced today that BMV license branches located in counties that have May 2015 elections will extend hours of operation on Monday, May 4 and on Tuesday, May 5 to issue ID cards and driver’s licenses that may be used for identification at a polling place. Branches in counties that have May 2015 elections will be open on Monday, May 4, from 8:30 a.m. to 8 p.m. and on Tuesday, May 5, from 6 a.m. to 6 p.m.

These license branches will only process new, amended or replacement ID cards, and renewed, amended or replacement driver’s licenses and learner permits.

The Indiana BMV provides free, state-issued ID cards for voting purposes to any unlicensed Hoosier, as long as he or she can provide proper documentation and will be at least 18 years of age on or before the next General or Municipal Election. The following documents are required to obtain a new state ID card or driver’s license (a complete list can be found at www.myBMV.com).

• Proof of Identity document, such as a birth certificate or passport.
• Proof of Social Security document, such as a Social Security card, pay stub or W-2.
• Proof of lawful status, such as a birth certificate or passport.
• Proof of residency, two documents such as a voter registration card, utility bill or bank statement.

There are 20 Indiana counties that do not have elections on Tuesday, May 5. Therefore, the following license branches located in these counties will not operate for extended hours and will be closed onTuesday, May 5 in observance of the state Election Day holiday:

Bluffton (Wells), LaGrange (LaGrange), Corydon (Harrison), Nashville (Brown), Decatur (Adams), Tipton (Tipton), Greensburg (Decatur), Monticello (White), Washington (Daviess), Morocco (Newton), Williamsport (Warren), Fowler, (Benton), Spencer (Owen), Liberty (Union), Vevay (Switzerland), Rockville (Parke), Winamac (Pulaski), Rushville (Rush), English (Crawford), Poseyville (Posey), Mount Vernon (Posey).

All license branches will resume regular business hours on Wednesday, May 6.

Historical Numbers

Municipal Primary 2011

• Monday, May 2, 2011:  842 Credential Transactions
• Tuesday, May 3, 2011:  3,201 Credential Transactions

Municipal General 2011

• Monday, Nov. 7, 2011:  2,974 Credential Transactions
• Tuesday, Nov. 8, 2011:  5,618 Credential Transactions

Midterm Primary 2014

• Monday, May 5, 2014: 1,481 Credential Transactions
• Tuesday, May 6, 2014: 3,878 Credential Transactions

Midterm General 2014

• Monday, Nov. 3, 2014:  2,044 Credential Transactions
• Tuesday, Nov. 4, 2014: 4,511 Credential Transactions

A two-day dental clinic to be held this weekend at the Indiana State Fairgrounds will provide free dental care for up to 2,000 Hoosiers on Friday and Saturday, April 24 and 25, 2015.

The IndianaMOM Mission of Mercy clinic will deliver approximately $1 million in free dental care, on a first-come, first-served basis. The event is a charitable outreach program of the Indiana Dental Association Foundation for Dental Health, and is being sponsored by the Delta Dental Foundation as well as several other foundations and organizations. While this is the first Mission of Mercy (MOM) event in Indiana, MOM events across America have helped more than 135,000 patients and have provided nearly $76 million in free dental services since 2000.

The event will focus on providing free oral health care to patients of all ages who cannot otherwise afford or access care. The goal is to provide at least one dental service to up to 1,000 people each day of the clinic. Over 1,100 volunteers are expected to participate.

Patients will be treated on a first come, first served basis starting at 6:00 a.m. until 5:00 p.m. Friday and Saturday. Event organizers expect people to start lining up on Thursday evening, so potential patients are encouraged to arrive early and expect a long wait. Patients will receive a health history screening and dental treatment as well as education on overall wellness resources, habits for improving dental health, and help with finding a dental home.

Patients are asked to come early and wear comfortable shoes. All patients should bring:

• photo ID
• water & snacks
• medicine if needed
• diapers if needed

Agents will be available to help patients register for available social services. Anyone interested in registering for social services must bring:

• Social Security numbers for all family members
• birthdates for all family members
• photo ID
• proof of address
• paystubs
• current insurance info

Additional information and a patient FAQ is available online at http://www.indianamom.org/patient-faq.htm.