New highlights for 2017 include electronic investment advice,
wrap fee programs, and FINRA oversight.
The portion of the
wrap fee that's paid to the portfolio manager
The Securities and Exchange Commission today announced that two investment advisory firms are settling charges related to compliance failures within their
wrap fee programs.
This
wrap fee would be divided between the particular manager and the brokerage firm.
More importantly, for the rising number of fee-based advisors, a SPIA purchase can shift assets from an advisor's purview, where it brings a 1 percent or 2 percent management or
wrap fee into the general account of an insurance company.
Serving institutions and wealthy clients, Batman pioneered large-scale
wrap fee programs--investment plans allowing Vest affiliates to offer a fee-based alternative to charging commissions that up until then was the primary source of revenue for the financial planning industry.
Also, an advisor should be able to provide an all-inclusive
wrap fee to cover all services.
Chartwell provides equity and fixed-income investment strategies to institutional, private clients and clients of
wrap fee programs through separate accounts, sub-advisory relationships and mutual funds.
In
wrap fee programs, subadvisers typically use a sponsoring brokerage firm to execute their trades on behalf of clients, and the costs of those trades are included in the annual
wrap fee that each client pays.
Causeway Capital Managementprovides equity investment management services to institutional clients including corporations, pension plans, public retirement plans, sovereign wealth funds, superannuation funds, Taft-Hartley pension plans, endowments and foundations, mutual funds and other collective investment vehicles, charities, private trusts and funds,
wrap fee programs and other institutions.
