Thanks for pointing that out Steve. Advisers arent allowed to charge asset based fees and we actually do something and provide a service to clients. Fund managwers dont provide any service to the client and are allowed to continue to charge different members different amounts depending on the level of investment. Why cant there be the same set of rules for everyone?
Also index funds charging a asset based fee? There is no background work done by humans here. Its done by a computer algorithm and costs nothing to run.
Asset based fees should either be banned or allowed in all cases. These fund mamagers should at least be forced to get clients to opt in every 2 years
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