More than 26% of advisory firms surveyed by technology firm Advyzon now use flat dollar fees.
Chicago-based Advyzon, which provides a range of technology to registered investment advisory firms, said that among the 1,000 of its users it surveyed, flat fees are more popular with firms managing more than $100 million in assets. Those firms also are more likely to have multiple fee schedules than other firms (89% versus 81%).
Quarterly billing remains the industry standard (74% of firms surveyed), based on beginning or ending balances, which “creates potential for big revenue fluctuations in volatile markets,” the company said in a release.
Other firms are using monthly billing (21%) and a growing number (16%) are calculating their fee based on average daily balances.
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In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
According to Flyer Financial Technologies, rising portfolio complexity is exposing the limits of legacy infrastructure and widening the gap between automation and reality
According to Flyer Financial Technologies, rising portfolio complexity is exposing the limits of legacy infrastructure and widening the gap between automation and reality
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
