Payments to Wealth Advisers Shows Some Funds Aren’t ‘Fee-Free’
AlamyBy Jed Horowitz At least three wealth management firms that market themselves as objective financial advisers are getting payments for investing their clients’ money in certain mutual funds, a practice that even some of these firms say could create conflicts of interest. The firms, known as registered investment advisers, are typically paid by clients with fees tied to the growth or contraction of client assets, and not to specific products….