Wall St. Brokers Risk Losing Billions in Fees on SEC Shift
A potential regulatory shift in favor of the ETF industry is expected to shake up the business models of Wall Street. Wirehouses and broker dealers risk losing between $15 billion and $30 billion a year in fees that they currently collect from the mutual funds they offer to customers, according to a recent report released by Cerulli Associates. Bloomberg's Emily Graffeo reports.
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