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Posted

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

 

Posted

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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