Pam Shoup Posted December 1, 2022 Posted December 1, 2022 As an open-architecture recordkeeper, we routinely prepare combined Sarbanes-Oxley/404a-5 notices and manage the fund change process for the advisors when plan wide fund changes are requested. We have not traditionally charged a fee to do this. Lately, advisors have been asking us how much we charge. Is this something you guys are seeing as a line item fee and if possible, can you share a range of how much a fee are you seeing? Pamela L. Shoup CEBS, RPA, QKA
R Griffith Posted December 2, 2022 Posted December 2, 2022 The firm I am at currently, does not charge fees for fund changes. However, the firm I was at previously, charged between $250 and $500 for fund changes. This was mostly as a disincentive to advisors that wanted to do changes every quarter or even more often. Sometimes it worked and sometimes it didn't (since the advisor does not normally pay the fee).
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