Fee Schedule changes

Does anyone have experience with advisors changing the fee schedule on the IAA (Investment Advisor Agreement) frequently? We are in a very competitive environment at one of our locations causing our fees to be reduced. It is always within our ADV stated Fees.

I am curios if anyone else has or intends to implement a written justification document for such fee reductions/pricing?

Thank you for your input.
Jacque

Comments

  • No we did it - we just change the fee schedule which is an exhibit to the IA Agreement and also updated the language in the ADV Part 2A

    If you have any questions, call me


    Myles Edwards, Esq.
    General Counsel, Chief Compliance Officer & Chief Operating Officer
    Shufro, Rose & Co., LLC
    745 Fifth Avenue, 26th Floor
    New York, NY 10151-2600
    Direct (646) 517-1184
    Mobile (973) 650-4385
    Facsimile: (212) 754-5111
    www.shufrorose.com     
    medwards@shufrorose.com
     



  • Myles,

    Thank you for responding. May I ask you what you did or clarify how you handled? Our fee schedule is in the middle document - I like your idea of having it as an exhibit to allow changes in the fees

    Jacqueline Parker
    Operations Manager


    Arista Wealth Management
    10091 Park Run Drive #200 | Las Vegas, NV 89145
    O: 702-309-9970 | T: 877-309-9970 | F: 702-974-0710
    Nevada | Arizona | Utah |
    www.aristawealth.com

  • That's the way we do it too - with an exhibit to the Agreement.

    -----Original Message-----
    From: Myles Edwards [mailto:medwards@SHUFROROSE.COM]
    Sent: Wednesday, September 21, 2016 5:00 PM
    To: IA Week Listserv
    Subject: RE: Fee Schedule changes

    No we did it - we just change the fee schedule which is an exhibit to the IA Agreement and also updated the language in the ADV Part 2A

    If you have any questions, call me


    Myles Edwards, Esq.
    General Counsel, Chief Compliance Officer & Chief Operating Officer Shufro, Rose & Co., LLC
    745 Fifth Avenue, 26th Floor
    New York, NY 10151-2600
    Direct (646) 517-1184
    Mobile (973) 650-4385
    Facsimile: (212) 754-5111
    www.shufrorose.com
    medwards@shufrorose.com
     



    -----Original Message-----
    From: Jacqueline Parker [mailto:Jacqueline@aristawealth.com]
    Sent: Wednesday, September 21, 2016 4:28 PM
    To: IA Week Listserv
    Subject: Fee Schedule changes

    Does anyone have experience with advisors changing the fee schedule on the IAA (Investment Advisor Agreement) frequently? We are in a very competitive environment at one of our locations causing our fees to be reduced. It is always within our ADV stated Fees.

    I am curios if anyone else has or intends to implement a written justification document for such fee reductions/pricing?

    Thank you for your input.
    Jacque
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  • Most firms use a range, based on AUM we charge;

    The standard fee schedule currently offered by SRC is summarized below.
    Annual Fee (based on average daily equity)

    Service Charges (Assessed by Clearing Firm)

    1% on all adjusted assets under management (“AAUM”)

    $25 for most bonds and $15 for most equities. SRC will not receive any portion of these charges.





  • We are considering that exactly, thank you so much for responding.

    Jacqueline Parker
    Operations Manager


    Arista Wealth Management
    10091 Park Run Drive #200 | Las Vegas, NV 89145
    O: 702-309-9970 | T: 877-309-9970 | F: 702-974-0710
    Nevada | Arizona | Utah |
    www.aristawealth.com

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