While registered investment advisors have had an allegiance to no-load fund companies because they were the first to offer their funds through supermarkets, advisors' taste for no-load funds also stems from their perception that no-load funds are not pushed on them, according to a new report by Cerulli & Associates of Boston.

The new report, "RIAs: The State of the Fee-Based Financial Advisor Market," says that advisors are often turned off by load company wholesalers offering "an expensive pen or a fancy meal."

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