Advice please
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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?
Go to your supervisor and ask them if the firm will make an exception if the client signs off on it.
Thank you for the advice.
Is it a common practice that they would give exception to such request?
Thank you for the advice.
Is it a common practice that they would give exception to such request?
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
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
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…