Morningstar believes there is one area where advisors should not be overly independent: the fees they charge to clients in their practices.
The Chicago-based firm today will introduce FeeCheck and CommissionCheck onto its Advisor Workstation, two programs that let RIAs and other advisors compare their fees with others using a broad range of factors. PriceMetrix, a Toronto-based company that provides technology to brokerage firms, developed the programs using the pricing histories of 20,000 anonymous full-service investment advisors.
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