SEI Advisor Network is targeting registered investment advisors with less than $10 million in advisory assets under management with a program it says bucks the trend among large custodians and asset managers with this message: It won’t charge advisors will small accounts a fee.
Other firms haven’t been so generous. Fidelity, for one, recently doubled the fee it charges advisors with less than $10 million on its platform from $1,250 to $2,500 per quarter, starting Dec. 31. Charles Schwab charges $1,200 per quarter for advisors with smaller accounts, said Steve Onofrio, SEI Advisor Network’s managing director.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access