T. Rowe Price of Baltimore, Md. recently filed with the SEC to offer a new class of shares in an effort to improve distribution of ten funds to variable annuities, defined contribution plans and wrap programs, according to a company spokesperson. The new shares will include a 12b-1 fee of 25 basis points.
"You are seeing more brokerage houses switching to a fee-based relationship with individuals," said Steven Norwitz, the company spokesperson. " We think there is a good opportunity in distributing funds through financial intermediaries."