Dooc said the application of standard service fee is in compliance with the Department of Finance directive to shift to fee-based compensation
agreement, which will take effect upon amendment of the agency's existing agreement with its partner banks.
In January, the independent broker-dealer announced that Webber would take over as CEO from chairman and then-CEO Eric Schwartz, who founded Cambridge 35 years ago and led the IBD world's entry into fee-based compensation
Jim Cracchiolo, chairman of Ameriprise, said during that company's conference call that his company has seen a clear shift to more use of fee-based compensation
In its 22-page brief, the coalition argues that the plaintiffs' claim that DOL's fiduciary rule "will force financial professionals exclusively to use fee-based compensation
models that will close off middle-income investors from obtaining professional financial guidance" is "doubly wrong.
Offering fee-based compensation
for variable annuities will bring its own challenges; in particular, common fee levels will be insufficient to meet the economics of products with a number of guarantee riders attached.
But not everybody believes fee-based compensation
is the only possibility in the future.
Broker compensation tends to be higher than advisor fee-based compensation
because broker-dealer products can be more complex, carry higher asset-based percentages, are made part of fund expenses, and are not billed separately.
The law also affects commissions: Advisors will only be able to accept fee-based compensation
on new business.
Considering changes in the broker's compensation structure to emphasize fee-based compensation
versus commissions--or vice versa.
aspx)offers a broad array of investment options without proprietary fund requirements alongside what the firm described as fee transparency, fee-based compensation
, and comprehensive support.
That makes sense, according to Nolan Baker, CSA, co-founder of the Retirement Resource Center in Maumee, Ohio, because it more closely aligns advisors' financial interests with those of their clients, while also meshing better with fee-based compensation
Article III's presumption in favor of salary-based compensation may rule out fee-based compensation
, which was a common form of judicial compensation in England and the colonies but had grown controversial by the time of the framing.