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Tuesday, November 02, 2010|
Investors, MF Insiders Wage a War of Words Over 12b-1 fees
Business Insider today reports on the tit for tat exchange, on the Securities and Exchnage Commission's Web site, between investors and mutual fund insiders commenting on the SEC's 12b-1 fees proposals.
Some comments from industry insiders include: "Perhaps you would like me to give them your number to contact for service?" from SagePoint Financial Branch Manager Andrea Ashbacher to the Commission, and "As an Eagle Scout, I never frown upon small sized accounts and often take them on because they need the most help," says fund advisor Todd George.
Not to be outdone, investors such as Dean Curtis reportedly wrote: "It won't be long till the greedy hands digging in our pockets will find only lint." And this gem comes from Marie Dunn, who wrote: "As Upton Sinclair said, 'It is difficult to get a man to understand something, when his salary depends upon his not understanding it.'"
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