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The department, which reports to the states Business, Transportation and Housing Agency and directly to Gov. Arnold Schwarzenegger, told Californians that above-average 12b-1 fees can undermine the performances of their mutual funds.
"If the fund has a 12b-1 fee, it must be clearly identified and investors should also closely monitor the 12b-1 fees as they can accumulate and reduce asset growth," the Department said in a public statement.
Here's how commenters such as the AARP, SIFMA, FSI, the Consumer Federation, NAPFA, the CFP Board and others view the Department of Labor's retirement advice regulation.
In the first three months of 2024, both profits and client assets reached new heights at RayJay's Private Client Group.
Last year, almost $1 trillion flooded into money market funds. Here are the 20 that have grown the biggest.
Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
Turns out clients are as mistaken about tax preparers as they are about taxes.
