MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 7, 2010 A Top B-D Exec Cautiously Opposes 12b-1 Reform Fundsters following (and mulling over) the SEC's proposed 12b-1 reforms may want to take a look at an article from Friday in InvestmentNews. Dan Jamieson interviews Raymond James Financial chief operating officer Chet Helck, who says he has "mixed feelings" regarding the proposal. "If you assume the only service provided in selling a mutual fund is the transaction, then an ongoing revenue stream ... may not make sense," Helck tells the trade pub. "But if you assume there is an ongoing advisory process or service, a revenue stream commensurate with the service provided is appropriate." Yet Helck agrees that more fee disclosure may be appropriate. He notes that Raymond James already discloses "fund costs on confirmations," which would be required, in both hard dollars and percentages, under the SEC's proposal. Dalbar president Louis Harvey and Fund Democracy president Mercer Bullard also weigh in for the article. Printed from: MFWire.com/story.asp?s=33359 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |