Investment Advisory Fee payout
My firm used to pay me a lump sum at the beginning of each quarter for investment advisory fees paid from client accounts each quarter. Now my firm takes the same lump sum out of the client account but pays it in thirds, essetially 1/3rd to me for each month of the quarter. Of course this delays my cashflow.
Can anyone tell me if this is standard now in the industry or might it just be firm specific?
I can't find anyting on FINRA's website which might mandate such a policy.
Thanks for any comments.