FYI: The “clean shares” movement evokes thoughts of mutual funds stripped of commissions and other third-party payments to brokers, advisors and other intermediaries—but the truth is somewhat messier.
So-called “clean shares” do leave behind loads and 12b-1 fees, but may still contain sub-transfer agency fees, or “sub-TA” fees, and other types of revenue sharing between a fund’s advisor and intermediaries, according to Chicago-based Morningstar
Regards,
Ted
https://www.fa-mag.com/news/-clean-shares--are-messier-than-you-might-think-40552.html?print
