October 27, 2010
Many of my clients are small investors. They seek my counsel for which I am fairly compensated. If the broker dealers set their own fees, many smaller investors will go to the low cost provider which they can do today by going to Fidelity and or Vanguard
I don't think the proposal you are discussing is in the best interest of the industry nor the welfare of the general public.
An interesting area of inquire is why nearly all of the mutual fund companies charging the same fees. Is their collusion?
George O Eisenberg, Ed.D, CLU, ChFC
Wealth Management Advisor