, the nation's largest independent broker-dealer, earlier this year started charging fund firms a listing fee of $5,000 for mutual fund additions to its platform.
"In order to continue to maintain our industry-leading open architecture product platform, we have added these fees to fund companies in order to help cover the basic administrative and operational expenses that are always incurred with the addition of new funds to our platform," according to LPL spokesman Joe Kuo in e-mailed comments to The MFWire.com
. "We believe these fees are in line with industry standards."
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