This article walks through what Alex Brown needs to open an account and bring a position in, and the fees they charge.

Why Alex Brown

Alex Brown is Seed Labs's preferred brokerage partner for in-kind distributions of public market shares. They're familiar with the deal-entity structure and the Seed Labs process, handle most of the onboarding once it's kicked off, and price transparently on a per-share basis. You're free to use your own broker instead, but Seed Labs won't assist with KYC in that case.

KYC items

Alex Brown conducts its own KYC process, separate from Seed Labs. The information they generally request is as below:

Entity KYC

• Formation Date
• Entity Address
• Tax ID
• Operating Agreement

Manager KYC

For any Authorized Signer(s):

• Full Name
• Home Address
• Date of Birth
• SSN
• Mobile Phone Number

Position information

For the shares/position being moved in, provide:

• Security Name
• Ticker / Symbol
• Number of Shares
• Date and nature of original investment
• Computershare DRS statements (send copies)

Fees

Alex Brown charges two fees:

The distribution fee is a flat per-share charge for in-kind distributions, floored at $6,250. The trading commission is a separate per-share charge that only applies if shares are sold through them.

No other fees apply.

How Seed Labs helps

Seed Labs kicks off the conversation with Alex Brown, seeding it with the KYC data we have on file. There are additional KYC asks that require direct involvement between the Manager and Alex Brown that occur via email.

Alex Brown generally handles most of the process. A detailed breakdown of how in-kind distributions work and Seed Labs's role can be found here.