Posted 27 April 2004 - 07:20 AM
Financial advisor has asked if TPA fees could be based on the amount of assets... a percentage. As assets grow so would the admin fee. When asked why he asks he told me that he was told by an attorney that the SEC would label fees generated in that way to be considered "illegal commissions". I am not savvy with regards to SEC rules but don't see the fees to be commissions at all. I told him that as long as he disclosed his fee schedule I didn't see a problem... but that I would ask a panel of experts. Any thoughts ?
Posted 04 May 2004 - 01:57 PM
Posted 04 May 2004 - 02:15 PM
Thank you for your input!
Posted 13 May 2004 - 12:53 PM