Thomas Weisel Partners Group Inc.
has entered into an unbundling arrangement with Fidelity.
In a regulatory filing
last week, the San Francisco-based investment bank said Fidelity will "separate payments for research products or services from trading commissions for brokerage services and will pay for research directly in cash, instead of compensating these firms through trading commissions as under soft dollar practices."
The deal was sealed in March, Thomas Weisel said.
Last year, Fidelity reached similar agreements with Lehman Brothers
and Deutsche Bank Securities
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