Firms share their plans for both fee-based and discretionary platforms
Studies show investors are largely satisfied with the advice they receive
Human advisors could benefit from adopting a robo approach, report suggests
While the category rating stayed the same, the satisfaction gap widened
Self-directed investors prefer commissions-based relationships
The firm admitted it failed to prevent the double charging of clients who held mutual funds that paid embedded fees within fee-based accounts
More than 6,000 clients in fee-based accounts were charged a higher fee than they should have been
The dealers’s approach to supervisory reviews effectively excluded fee-based accounts with large, uninvested cash holdings
More than 250,000 clients have overpaid on fees
The dealers allegedly overcharged fee-based client accounts about $6 million and mutual fund accounts $5.7 million between 2005 and 2016