NASAA
research shows investor confusion over fees|
. A
new advisory from the North American Securities Administrators
Association (NASAA) aims to help raise investor awareness about fees
charged by broker-dealer firms for account services and maintenance. In
the advisory,
NASAA suggests investors focus on the timing, method and content of
these sorts of fee disclosures. It calls on investors to not place
assets with a firm without a current fee schedule, to ensure that
they understand those fees, and to pay attention to any changes that
firms make to those fees. Additionally, it says that investors should
know the services that they could use regularly, and ask specifically
about the terminology a firm uses for its services and the associated
fees. http://www.nasaa.org/35290/informed-investor-advisory-understanding-broker-dealer-fees/
Full Report Are you an
informed investor? Understanding Broker-Dealer Fees available at
http://www.nasaa.org/wp-content/uploads/2015/04/BD-Fee-Advisory.pdf Fees impact returns- make sure you know what fees you are paying and that you receive the services associated with the fees.Don't hesitate to ask about seniors rebates, asset-based discounts etc. -It's your money.
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