INTE Securities LLC Rev: 06/2020
SEC Registered Broker/Dealer CRD#: 47107 SEC#: 8-51667
DATE: June 2020
CLIENT RELATIONSHIP SUMMARY
INTRODUCTION
INTE SECURITIES LLC (“INTE” or the “Firm”) is a SEC registered, FINRA member, broker/dealer and member of SIPC (https://www.sipc.org/). INTE SECURITIES LLC is not an Investment Advisor. With few exceptions, INTE interacts only with accredited investors and qualified purchasers, pursuant to documented engagement assignments. You can find more information about INTE and your representative(s) at https://brokercheck.finra.org/.
Other websites you may find helpful to better understand different types of investing and services available to you:
investor.gov/CRS
https://www.sec.gov/info/smallbus/formddefinitions.htm
https://www.finra.org/investors#/
https://www.investor.gov/
https://www.sec.gov/node/172921
https://www.investor.gov/search?keys=REg%20A+
https://www.sec.gov/fast-ansINTErs/ansINTErs-accredhtm.htm
What is the difference between a Broker and an Advisor, and how do fees differ?
A traditional broker executes specific transactions on your behalf and gets paid per transaction. INTE is a placement agent for the Issuer and does not have discretion over your account. You make the ultimate decision regarding your investment. An Advisor usually chooses investments for you and charges you a fee based on your portfolio’s total value.
RELATIONSHIPS AND SERVICES
INTE acts as a brokerage firm and we collect business advisory and successful transaction-based fees from Issuers/Companies or Company employees/Sellers (collectively “Issuer”). These fees are paid to us by the Issuer when you make an investment. Although you do not pay us directly, the Issuer compensates us from a portion of your investment, in part the same way a residential real estate transaction may occur, with the seller paying a portion of the proceeds to the agent. In this scenario, INTE is the agent.
INTE may present possible investment opportunities consistent with your investor profile to the best of our knowledge. We may present these opportunities and supporting documentation provided by the Issuer but do not make any endorsements or representations as to the accuracy or validity of the documentation.
INTE does not open customer accounts, hold customer assets, or offer investment strategies. We do not provide investment advice and do not make recommendations.
As an Accredited Investor, you should have the investor sophistication to understand the risks and rewards associated with private placements, and financial wherewithal to make independent investment decisions. When in doubt, check with an independent source/professional.
INTE does not provide tax advice. Please consult your tax advisor if necessary. We do not provide investment advice to the Investor.
INTE Securities LLC Rev: 06/2020
SEC Registered Broker/Dealer CRD#: 47107 SEC#: 8-51667
INTE and your Registered Representative (“RR”)
Your Registered Representative is paid a portion of fees we collect.
What are your qualifications, licenses, experience, and education?
You may go to FINRA’s BrokerCheck at https://brokercheck.finra.org/ or ask us.
How does your Firm make money?
Indirect Compensation: INTE receives compensation from the Issuer if there is a successful transaction. Compensation is usually a percentage of your investment. Therefore, we get paid from the Issuer only after your investment has been placed with the Issuer. The more you invest; the more money INTE makes. There are no ongoing fees. Please see the Conflicts of Interest section for more information.
In some cases, INTE may also receive business advisory fees from the Issuer regardless as to whether you invest or not. These fees are not tied to your investment. We typically do not collect any other fees or receive other benefits, although in limited circumstances INTE may be allocated a portion of incentive fees paid to the Issuer.
Conflicts of Interest
What is your legal obligation acting as my broker?
Our obligation is to put your interests above our own and to disclose any issue that would create a conflict of interest. At the time of each presentation or opportunity, INTE mitigates or discloses any issues that may be deemed conflicts if not already covered in this document.
INTE or its Representatives will not own or invest shares in the Issuer unless disclosed. INTE MUST update you regarding this issue for EACH and EVERY new investment presentation. INTE does not have sales contests or pay performance-based bonuses to our representatives. Other than commissions and other fees paid to us directly or indirectly, INTE does not receive other compensation or benefits unless fully disclosed to you. INTE offers no proprietary products, but we will inform you if there are other products and services provided by us that are similar and less costly.
How might your conflicts of interest affect me?
The collection of a commission or fee may be deemed a “conflict of interest” in some circumstances. If INTE, its representatives, or affiliates are also investors, you may see this either as a benefit or a detriment to the investment opportunity.
Do you or your financial professional have any legal or disciplinary history?
Yes. For further information on the legal and disciplinary history of INTE Securities LLC and any of its Registered Representatives, please go to https://brokercheck.finra.org/ or contact the Firm’s Compliance Department at compliance@intesecurities.com.
MORE INFORMATION
You can find additional details regarding your investment in the private placement memorandum and other documents provided to you. For more information and questions, please contact Fredric Obsbaum at obsbaum@intesecurities.com or at (212) 897-1694.