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The weekly news source for investment management legal and compliance professionals

News December 17, 2018 Issue

Advisers Must Follow Through on Promised Advisory Fee Discounts

It may sound like an obvious point to make: If an advisory firm promises clients that they will receive fee discounts at certain “breakpoints” based on the amount of assets they turn over to the adviser for management, it must follow through and provide those discounts. However, if an advisory firm fails to implement procedures to make good on these promises, it may find itself both shortchanging clients and facing SEC sanctions.

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