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Rating:Indie B-Ds Complain About 12b-1 Reform Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 26, 2010

Indie B-Ds Complain About 12b-1 Reform

News summary by MFWire's editors

Fundsters pondering the potential impacts of the 12b-1 reforms proposed last week by the Securities and Exchange Commission may want to take a look at two articles yesterday in InvestmentNews. Jessica Toonkel worries about the possible demise of trail-based C shares and other possible implications for investors, while Bruce Kelly points out the potential difficulty of broker-dealers negotiating their own sales charges to add to mutual fund fees (in lieu of 12b-1 fees above 25 basis points).

(To read the proposal itself, see The MFWire, 7/21/2010.)

A number of advisors and insiders weighed in for Toonkel's investor-focused piece, including: Dale Brown, president and CEO of the Financial Services Institute; Jim Fulp, executive vice president of independent B-D Raymond James Financial Services; Russel Kinnel, director of mutual fund research at Morningstar; Malcolm Makin, president of Professional Planning Group; Jack Murphy, a partner at law firm Dechert; John Robinson, manaing director of Financial Planning Hawaii; and John Rooney, managing principal of indie B-D Commonwealth Financial Network.

Kelly spoke with several sources for his B-D-focused take, including: the FSI's Brown; and Arthur Grant, president and CEO of indie B-D Cadaret Grant

Edited by: Neil Anderson, Managing Editor


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