Business
As part of Season One's exploration of trust, Ep. 2 takes a look at a class of fees - sometimes referred to as "revenue rebates" or "sub-transfer agency" which are paid by asset managers (mutual fund companies) to intermediaries (broker-dealers). Because these fees are often paid out of the asset manager's management fee, most retail clients are unaware that they exist, or that they effectively increase the overall fee they are paying to their broker-dealer. In this episode, Peter Kraus discusses how the industry ended up in this situation, what's being done to add more transparency and fairness to the marketplace, and what investors can do to make themselves more knowledgeable, active stewards of their own capital. Topics discussed include: Mutual funds Revenue rebates and sub-transfer agency fees 12b-1 fees Management fees The SEC's new Regulation Best Interest Conflicts of interest Learn more and sign up for our email list at apertureinvestors.com. Follow Peter and Aperture on Twitter @apertureinvstrs and @kraushopper.