ING cuts fees for advisers

As part of effort to spiff up its fee business, the ING Advisors broker-dealers have cut fees that their advisers pay for two key advisory offerings. Administrative fees with the new structure are as low as 4.5 basis points on total assets under management and 1.5 basis points for individual accounts. ING Advisors Network has recently been working to build up their offering to advisers and the assets under management, the company said in a statement. This change does not affect individual advisers determining fees for their clients, the company statement said. With four broker-dealers, the network had $869 million in gross revenues last year and has close to 9,000 affiliated registered representatives and advisers.