He did it to hypocritical Wall Street analysts, to insurance brokers who collected fees from both insurers and their customers and to fund operators that allowed favored clients to trade their way in and out of mutual funds.
In the past, brokers have justified their high fees by pointing to the quality of their advice.
As you can see, the cost of a good financial planner can pay for itself over years of unnecessary costs and fees less savvy brokers may not be aware they are imposing on you.
Despite the assault Nasdaq hasn't yet been forced to increase its rebates, by which it returns to brokers roughly half of its trading fees.
Full-service brokers offer that sort of account at fees of about 2% of assets under management.
Advisors typically collect higher fees for trading strategies, brokers collect more commissions, exchanges earn a fee from each transaction, and market makers gorge themselves on the bid-ask spread.
They were mostly sold by brokers, so there were additional layers of fees that investors paid.
Armies of brokers and salespeople depend on purchase and distribution fees.
As big clients' interest in traditional broking services wanes and the cost of insurance plummets, the brokers are doing their best to collect advisory fees along with sales commissions.
Brokers possess broad discretion over where they set their fees relative to published fee schedules.
The fees of commission-based agents and brokers are tied to specific products and transactions.
They found strong evidence that fees paid by clients, commissions charged by brokers, and the performance of funds were all directly related to client sophistication.
New client fees have been implemented, existing client fees raised and client account minimums created, below which brokers receive no or little compensation.
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Brokers, who like CNL-style REITs for the fabulous 7% fees a sale generates, argue that private REITs won't lose you money--an assertion that assumes these things will stay in business and assumes that if you get in line at the exit door you will eventually be permitted to leave.
Costs can rise even further as a result of referral fees paid by lawyers and claims management firms to breakdown firms, brokers and the insurers themselves - in exchange for providing information about accident victims.
The alternative trading platform was set up three years ago by brokers at nine investment banks who had become frustrated with the LSE's trading fees.
At the start of April, a ban was enforced on referral fees, which are paid by lawyers and claims management firms to breakdown firms, brokers and the insurers themselves - in exchange for providing information about accident victims.
Bats pays the same or slightly less than the big exchanges to brokers who add trading volume to its network, and charges 8% less than Nasdaq's lowest fees for removing that volume.
As I blogged at the beginning of the process in September, that included sleazy mortgage brokers introduced by Lending Tree, who either pulled the bait-and-switch on rates or resisted disclosing what fees they would tack on.
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