While recent studies have repeatedly shown that investors want advice, fund companies are finding that moving into the advisor channel is fraught with problems.

Schroder Investment Management of New York, traditionally a no-load firm, is one of the latest fund companies to run into major obstacles in entering the channel. As of July 1, Schroder is eliminating its advisor share class on 11 of its 12 funds after launching the shares only two years ago, said Cathie Mazza, a vice president with Schroder's Funds.

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