RJ has one with no fees. I don’t remember the haircut, but essentially the advisor eats the difference through higher admin fees on payout.

As a past managed accounts expert at JP Morgan here are how the fees break down.

Platform Charge - typically 25 bps but I have been to get this down to about 12 bps.
Custody and Clearing  - it is tiered, but starts at about 20 bps
Manage fee - if you are using managers.

If you are looking for an independent platform, I have relationships with many of them.  Send me an email and I can try to help further.

Good Luck.

ash
[email protected]
www. FAfreedom.com - The Breakaway Experts.

Edward Jones 1.35% and lower (discounts and breakpoints) to client and FA.  Then hits grid at 40% at all production levels, no ticket charges, and any 12b-1’s (mostly no-load, advisor, ETF’s, and load-waived A’s) are automatically refunded to the client.  Can be one of 26 firm-managed portfolios, or picked by FA, no difference in payout or fees.

i clear through national.  the only thing they offer like this is at 35 bps and it gives 100 free trades per year.  i can charge what i want up to a cap.

35bps at NFS is that on the Managed Account Solutions platform “MAS” ???

[quote=Boston7575]Does anyone have access to an Advisor managed wrap program where there are no ticket charges? If so what does your B/D take as a haircut outside the grid on this program? i.e. a “admin fee” or “program fee”…[/quote]

I misunderstood your question.  You should expect a haircut of at least 25bps.  If you try the major custodians they may do it, but they will watch your trading like a hawk.  If they start loosing money, they will switch you to per transaction fee.  Why don’t you open our own RIA and then the transaction fee is a direct expense of the client. 

ash

$125 admin fee… so 12.5bps on 100K, obviously decreases with larger assets…