This will reduce administrative fees to as little as 4.5 basis points on total assets under management and 1.5 basis points for individual accounts. The lower fee structure does not impact customer fees, which are determined by individual advisers, a press release noted.
“This is another step in our effort to offer advisers the industry’s best advisory services,” said Randy Ciccati, president of ING Advisors Network, in the release. “Our fees are now among the most competitive – and transparent – in the business. Our integrated platform makes it easier for advisers to serve their customers, and our support in terms of personnel, marketing, and training are second-to-none.”
ING Advisors Network, an independent broker-dealer network consisting of Financial Network Investment Corporation, ING Financial Partners, Inc., Multi- Financial Securities Corporation and PRIMEVEST Financial Services, Inc, now has more than $14 billion in assets under management in its advisory programs. The ING Advisors Network firms have launched initiatives to increase their advisory offerings and assets under management, including introducing Advisory University, which educates advisers looking to transition their business to an advisory-based model.