Advice please

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 25, 2015 2:36 am

I have an existing client who wants to make an additional big investment. But my broker dealer has a special rule that each client cannot own more than $500,000 worth of class C mutual fund shares. But Class C is what this client only wants. Looks like I am having no option other than telling this client to go make the investment somewhere else. Any advice for me to retain this client? 

Jan 25, 2015 8:43 pm

Go to your supervisor and ask them if the firm will make an exception if the client signs off on it.

Jan 26, 2015 3:30 pm

Thank you for the advice.

Is it a common practice that they would give exception to such request?

Jan 26, 2015 3:30 pm

Thank you for the advice.

Is it a common practice that they would give exception to such request?

Feb 2, 2015 3:06 pm

if the client only wants c shares, he/she hasn't been properly informed. most nav purchases can be done at the 500m level w/ no charge to the client. holding period is between 12-18 months. interal expenses are considerably lower to the client as well

Feb 2, 2015 3:07 pm

if the client only wants c shares, he/she hasn't been properly informed. most nav purchases can be done at the 500m level w/ no charge to the client. holding period is between 12-18 months. interal expenses are considerably lower to the client as well

Feb 10, 2015 12:50 am

Warpig- you are full of it. I have plenty of clients who understand the mechanics of A and C shares. A lot choose C because of the liquidity.

Either way- fee based is where the industry is going. Wrap it all snd save yourself the headache......