The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:28 Fund Firms Are Paying Morgan Stanley At Least $1MM Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, August 11, 2015

28 Fund Firms Are Paying Morgan Stanley At Least $1MM

News summary by MFWire's editors

28 mutual fund firms paid Morgan Stanley at least $1 million a year in revenue sharing last year. And that doesn't even count the wirehouse's fee-based accounts.

Morgan Stanley recently released a four-page disclosure detailing its 2014 mutual fund revenue sharing arrangements with a host of different mutual fund families that distribute through its commission-based brokerage accounts. 28 of those families are "Global Partners", who annually shell out $550,000 for training and sales meetings and $200,000 for data analytics. Additionally, all 96 fund families Morgan Stanley offers in the commission-based accounts pay a 16-basis-point "mutual fund support fee", for which the minimum fee is $250,000 annually.

Those 28 Global Partners are (sorted by how much revenue sharing they pay in total, in descending order): Legg Mason [profile], BlackRock [profile], Lord Abbett [profile], OppenheimerFunds [profile], Ivy [profile], First Eagle [profile], J.P. Morgan [profile], Eaton Vance [profile], Pimco [profile], Fidelity Advisors [profile], Putnam [profile], Thornburg [profile], AB [profile], Nuveen [profile], Columbia [profile], Prudential [profile], Virtus [profile], Pioneer [profile], MainStay [profile], Federated [profile], Goldman Sachs [profile], Morgan Stanley [profile], Delaware [profile], John Hancock [profile], Allianz [profile], Guggenheim [profile], First Trust [profile], and Invesco [profile].

Below the Global Partners level, there are 11 "Emerging Partners". They pay $250,000 annually for training and sales meetings and $100,000 for data analytics, plus of course at least $250,000 in revenue sharing. Those Emerging Partners (in descending order by how much revenue sharing they pay) are: Hartford Funds [profile], DWS Scudder (now Deutsche [profile]), Principal [profile], Dreyfus Premier [profile], Henderson Global Investors [profile], Janus [profile], Voya [profile], Neuberger Berman [profile], Touchstone [profile], American Century [profile], and Brandes [profile].

Morgan Stanley also charges fund firms $21 annually per client position or up to 16 bps as an administrative service fee for omnibus trading (both in the commission-based and fee-based accounts). Other funds are traded on a networked basis for up to $11 per year per position.

It's worth noting that only three of Morgan Stanley's top 20 mutual fund family partners (by revenue sharing in the commission-based brokerage accounts, and thus by assets) are not Global or Emerging Partners. They are: Franklin Templeton [profile] (number one), American Funds [profile] (number three), and Wells Fargo [profile] (number 17). 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  2. IDC Virtual Roundtable: New Jersey and Pennsylvania - April 2021, April 15
  3. IDC Virtual Roundtable: Florida - April 2021, April 20
  4. The 31st Sub-Advised Funds Forum, Apr 20-21
  5. ETF.com Awards 2020, April 20
  6. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  7. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  8. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  9. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  10. IDC Webinar: The Future of the Workplace - April 2021, April 23
  11. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  12. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  13. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  14. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  15. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  16. ICI 2021 General Membership Meeting - Day 1, May 6
  17. Emerging Manager Forum USA, May 12-14
  18. ICI 2021 General Membership Meeting - Day 2, May 13
  19. 2021 FINRA Annual Conference, May 18-20
  20. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  21. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  22. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  23. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  24. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20
  25. ICI 2021 Operations and Technology Conference, May 20
  26. MFDF webinar - Board Oversight of a Fund's Derivatives Risk Management and Fund Compliance With Rule 18f-4, May 24

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use