On October 13, 2009, the Coalition of Mutual Fund Investors (CMFI) released a new study examining the payments being made by mutual funds to third-party financial intermediaries for shareholder servicing and recordkeeping activities.
This CMFI study concludes that as much as $9.6 billion in excess fees are being paid each year for servicing activities within hidden accounts managed by these financial intermediaries. This excess cost is adding approximately 25 basis points to the average shareholder's account.
Remarkably, the payments...
What is CMFI? We are a shareholder advocacy organization dedicated to promoting the interests, needs, and concerns of individual mutual fund investors. Learn more