 Collecting the typical 1% fee on assets under management doesn’t account for the myriad other areas of advice provided by RIAs, such as regarding taxes, mortgages, estates and small businesses.”Tom Nally, president, TD Ameritrade Institutional |
TD Chief: Net Worth, not AUM, Should Determine RIA Fees
Alex Padalka | Financial Advisor IQ, June 2016
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Summary: RIAs charging a fee based solely on a client’s assets under management are selling themselves short, Tom Nally, president of TD Ameritrade Institutional, tells InvestmentNews. Instead, Nally says, RIAs should be charging a percentage of clients’ net worth, the publication writes.
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