Dimensional Fund Advisors plans to reduce fees on 77 mutual funds, joining an industrywide push to lure customers with lower-cost investments.
Average management fees will be lowered 8% on an asset-weighted basis, the company said in a statement Monday. The changes go into effect Feb. 28.
Asset management companies have slashed what they charge clients in an effort to compete with inexpensive index funds. Fidelity Investments has introduced several zero-cost funds and Charles Schwab Corp. set off a shakeout in the sector this year by offering free stock trading.
“We expect to do better than benchmarks and peers, after fees, so we fight for every basis point,” Gerard O’Reilly, Dimension’s co-CEO and chief investment officer, said in the statement.
Dimensional, which manages $579 billion in assets, said the new charges would apply to several of its most widely held funds, including those in the flagship core, value and fixed-income portfolios.
The company said it trimmed management fees or expense caps in 2015, 2017 and earlier this year.
Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B
“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.
The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO
For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.
Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions
Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
