Investors in externally managed and sub-advised accounts could save about $1 billion a year in commissions paid to brokerage firms by their fund managers.
So says UAT, a Denver-based technology firm specializing in the externally managed and subadvised industry. Launched last year, the firm started off providing pre-trade compliance and commission saving software to sub-advisors but in late February launched a new web-based system called iPerX that it said can potentially triple the rate of commissions recaptured. Where existing service providers recapture 25 percent of commission paid out to brokers, UAT says its system recaptures 75 percent.
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