Fitz: Investment advisory fees fall for first time in three years

While historically, investment advisory fees have been rising while management fees have been declining, in the latest edition of its ‘Investment Advisory Fee Benchmarking' report, Fitz found investment advisory fees have reversed the trend by declining 5% in the past 12 months. Investment advisory fees are classed as those that are paid to entities providing advisory services to the fund. They cover asset allocation and stock selection and are usually paid out of the funds' management fees.  Overall, average investment advisory fees have fallen by 5% from 41bps to 39bps in the last 1...