Trust Services

Buying and Selling Funds

You can buy some mutual funds by contacting the fund companies directly (no-load). Other funds are sold through brokers, banks, financial planners, or insurance agents. If you buy through a third party, you will most likely pay a sales charge (load).

Selling a fund is as easy as purchasing one. All mutual funds will redeem (buy back) your shares on any business day. In the United States companies must send you the payment within seven days. In First Commonwealth’s 401(k), you may place a sell order and receive that night’s closing share price for all trades executed by 3:30pm EST.

The Fund’s Value
Net asset value (NAV) is the value of a mutual fund – its assets minus liabilities. NAV per share is the value of one share in the mutual fund and is the number that is quoted in newspapers. You can just think of the NAV per share as the price per share of a mutual fund. It fluctuates everyday as fund holdings and shares outstanding change.

When you buy shares, you pay the current NAV per share, plus any front-end load. When you sell your shares, the fund will pay you NAV less any back-end load. As a reminder, First Commonwealth 401(k) mutual funds are no load mutual funds.


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First Commonwealth Advisors is a registered trademark used to market various wealth management products and services. Investment management, trust and fiduciary services are provided by First Commonwealth Bank. Certain insurance products are offered through First Commonwealth Insurance Agency, a licensed insurance affiliate. Securities, insurance products and advisory services are offered through Essex National Securities LLC, member FINRA/SIPC and an SEC registered investment advisor. Essex is not affiliated with First Commonwealth Bank.

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