Clean funds will help advisers ensure clients are both in the right funds and at the right price...
The excitement over clean funds and what they mean for our market requires a bit of a re-think on first principles. If I make and run investment funds, I need buyers, who may come from the general public, in which case I will need a brand of some sort and cash to promote my wares. I might find buyers from the ranks of the various intermediaries. For this, I will market on expertise and relationship rather than brand. In the past, I may have also marketed on various forms of incentive, but that won’t continue. Such incentives included differential commission, shelf-space charging, spon...
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