Financial advisors and multiple share class mutual funds
DOI:
https://doi.org/10.61190/fsr.v14i1.4810Keywords:
Financial advisors, Multiple share class mutual fundsAbstract
The development of multiple share class mutual funds has complicated the investment decision for individual investors such that the advice of financial advisors is heavily relied upon to make the best choice. However, there have been accusations that advisors are influenced by factors other than the client's best interests. This study surveys financial advisors as to their compensation and recommen dations with respect to multiple share class funds. Our results suggest that advisors may not be sufficiently informed regarding the relationship between share classes, investment size, and investment horizon. We also find that advisor compensation appears to influence the frequency of sales of various share classes.
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