Michael Cemo, CEO of AIM Distributors, defines the small to medium plan market as those with $1 million to $5 million in assets. He expects that larger plans will continue to use A shares.
"Weve had an institutional share class that had no 12b-1 fee that we thought would be useful, but we found the intermediaries wanted a fee," said Robert Graham, CEO of AIM Management Group.
Many of the registered reps who AIM works with cater to smaller plans and needed a mechanism to be compensated, Cemo said.
The new share class mirrors a similar offering by
