猫眼晶
知名会员
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- 2003-11-02
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well.....ok where should i start. 在这里我可以作个简单的回答。“不是”有耐心，和有兴趣的朋友可以看看下面的冗繁文字。如果有更多细节的问题可以给我qqh或者发邮件。我乐意帮你们询问和解答相关的问题。jiecy@hotmail.com
a financial planner's "commission" comes from these 3 major sources, please notice this, they are not from investors.
1. loads or commissions, (paid by investors when they buy and sell 1utual funds. this one is recognized as processing fee. i dont know in other place. but in Investors Group there is only no-load funds)
2. MER
3. trailer fees, fees paid to mutual fund dealers.
in all these three types income for a financial planner, 2 and 3 paid by mutual fund management company and dealer. 1, it really depends on the fund and institution.
1. people think financial planners (FPs) want commission. that suppose to be reward to their work of help managing investors assets anyways, no one wants work for nothing. i am not blaming them. but as i mentioned obove, i dont know other place, but in Investors Group, they only have no-load funds and DSC (deferred sales charge).what are they? you can google or whatever to make sure if my explaination is true.
A) no-loads fund means charge no commission or service fees.a mutual fund is considered to be a no-load fund if an investor does not have to pay any fee or charge to buy or redeem securities of the fund.
under no-load funds, you only get charged when
- optional fees or charges for specific service
- redemption fees for funds that are not money market funds of redemption occurs within 90 days after purchasing the fund
- an account set-up or closing fee to coverthe initial administrative costs of opening or closing the account
B) DSC, it gives u fixed term, after it mutual, it s no fees to redeem. but if you wanna redeem earlier, for each year, there will be differen % of charge. the more years the fund has been held, the less% to be charged. if the fund was for 7 years for example, there would be no fees was charged at all after 7 years; investors only got charged if they redem before this time period. but usually most fund companies allow investers to redeem 10% of the value of the holding per year without charges.
A good FP won't suggess u to do this if s/he knows this client not sure if s/he can hold these money for that long.
2. MER, management fees,this one is paid by the fund, not investor. however, investors should concerned about MER because they reduce the rate of return for a fund. 也就是说打个比方，基金投资的钱是给fund company去做投资的。MER是2%，也就是说比如fund company投资的收益是10%，那么剩余8%是投资人的回报。这些从来就不属于投资人。所以不是投资人在付MER 给他们的FP。 也就是说这2%他们用来公司运转，和支付那些帮你创回报的人。相比MER投资人的回报往往要高很多。但是要提醒投资人的是，选fund的时候MER的多少还是要作为一个参考因素。尤其是长期投资。这些因素作为一个好的financial planner是一定会帮客户考虑进去的。像IG, EJ这样的公司只算是distributor。他们不是fund company， 不能决定和支配MER. 也就是说MER不是直接给这些公司或者这些公司的人的。fund companies use MER to pay for management, interest charges and taxes, audit fees, legal fees, accounting fees fees to maintain investor records.although commissions or brokerage fees and other portfolio transaction costs are shown as an expense in the statement of operations, they are excluded from the calculation of the MER。
3. the last, trailer fees, this is nothing to do with investors either. trailer fees are designed as an incentive to representatives and mutual fund dealers to continue servicing fund clients after sales have been made. they are paid by the management company to its distributors and are in addition to sales commissions. the deler can receive a trailer fee for as long as the investor holds the units of the fund. the trailer fee is paid by the manager out of the management feesand it is expressed as a percentage of the dealer's assets under administration. for example, the market value of the units of the fund sold through the deler and not redeemed. this is included indirectly in the MER.
如果大家有问题欢迎跟贴，我会想办法帮你们找找答案的。
a financial planner's "commission" comes from these 3 major sources, please notice this, they are not from investors.
1. loads or commissions, (paid by investors when they buy and sell 1utual funds. this one is recognized as processing fee. i dont know in other place. but in Investors Group there is only no-load funds)
2. MER
3. trailer fees, fees paid to mutual fund dealers.
in all these three types income for a financial planner, 2 and 3 paid by mutual fund management company and dealer. 1, it really depends on the fund and institution.
1. people think financial planners (FPs) want commission. that suppose to be reward to their work of help managing investors assets anyways, no one wants work for nothing. i am not blaming them. but as i mentioned obove, i dont know other place, but in Investors Group, they only have no-load funds and DSC (deferred sales charge).what are they? you can google or whatever to make sure if my explaination is true.
A) no-loads fund means charge no commission or service fees.a mutual fund is considered to be a no-load fund if an investor does not have to pay any fee or charge to buy or redeem securities of the fund.
under no-load funds, you only get charged when
- optional fees or charges for specific service
- redemption fees for funds that are not money market funds of redemption occurs within 90 days after purchasing the fund
- an account set-up or closing fee to coverthe initial administrative costs of opening or closing the account
B) DSC, it gives u fixed term, after it mutual, it s no fees to redeem. but if you wanna redeem earlier, for each year, there will be differen % of charge. the more years the fund has been held, the less% to be charged. if the fund was for 7 years for example, there would be no fees was charged at all after 7 years; investors only got charged if they redem before this time period. but usually most fund companies allow investers to redeem 10% of the value of the holding per year without charges.
A good FP won't suggess u to do this if s/he knows this client not sure if s/he can hold these money for that long.
2. MER, management fees,this one is paid by the fund, not investor. however, investors should concerned about MER because they reduce the rate of return for a fund. 也就是说打个比方，基金投资的钱是给fund company去做投资的。MER是2%，也就是说比如fund company投资的收益是10%，那么剩余8%是投资人的回报。这些从来就不属于投资人。所以不是投资人在付MER 给他们的FP。 也就是说这2%他们用来公司运转，和支付那些帮你创回报的人。相比MER投资人的回报往往要高很多。但是要提醒投资人的是，选fund的时候MER的多少还是要作为一个参考因素。尤其是长期投资。这些因素作为一个好的financial planner是一定会帮客户考虑进去的。像IG, EJ这样的公司只算是distributor。他们不是fund company， 不能决定和支配MER. 也就是说MER不是直接给这些公司或者这些公司的人的。fund companies use MER to pay for management, interest charges and taxes, audit fees, legal fees, accounting fees fees to maintain investor records.although commissions or brokerage fees and other portfolio transaction costs are shown as an expense in the statement of operations, they are excluded from the calculation of the MER。
3. the last, trailer fees, this is nothing to do with investors either. trailer fees are designed as an incentive to representatives and mutual fund dealers to continue servicing fund clients after sales have been made. they are paid by the management company to its distributors and are in addition to sales commissions. the deler can receive a trailer fee for as long as the investor holds the units of the fund. the trailer fee is paid by the manager out of the management feesand it is expressed as a percentage of the dealer's assets under administration. for example, the market value of the units of the fund sold through the deler and not redeemed. this is included indirectly in the MER.
如果大家有问题欢迎跟贴，我会想办法帮你们找找答案的。
