Mutual fund providers consider change of management a standard business practice. If they believe their auditor is too small, they may change to a "Big 4" firm. If they have outgrown their fund administrator, they may switch.

Lately, we've been seeing a trend with fund custodians and administrators making the determination that they really only want to serve larger clients who can take advantage of a wider array of their services. They have the right to choose their clientele, but what does this mean for your mutual fund company?

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