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This study assesses the engagement of financial advisors by individual investors following the financial crisis. It is important to remember that financial advisors and broker/dealers differ in their regulation and [...]

This article presents the construct of a New Total Expense Ratio built upon the concept of normative transparency of disclosure that presents the reality of adviser/distributor payments to brokers 'behind [...]

This article discusses the four basic reasons why mutual fund independent directors have failed in their roles as 'shareholder watchdogs' under the Investment Company Act of 1940. There is a [...]

The fact that closed funds continue to charge 12b-1 fees clearly illustrates that the fees are no longer primarily used for their intended purpose--to market and promote a fund. --Andrew [...]

Institutional-class mutual funds are designed as investment vehicles for pension funds, corporations, not-for-profit organizations, endowments, foundations, municipalities, and other large investors, including individuals. These funds offer investors flexibility, liquidity, convenience, [...]

The goal of this study is to bring some degree of closure to the question of why mutual fund investors employ financial advisors. The basic reasons for investor utilization of [...]

Given their simplicity and presumed commodity-like nature, institutional S&P 500 Index mutual funds should be subject to active price competition, resulting in only nominal size adjusted differences in expenses. This [...]

[R]ational investor choice of mutual funds is dependent upon transparency of relevant investor choice parameters provided by mutual funds. Bicksler [2004] The past several years have, not surprisingly, resulted in [...]

With over $9 trillion in assets, the mutual fund industry affects the lives of millions of investors. Because strong price competition is not a characteristic of this industry, fund expenses, [...]

Many fund managers turn over their portfolios with reckless abandon. But it's pretty much impossible for shareholders to figure out how much all this trading is costing them, because today's [...]

Data envelopment analysis (DEA) is applied to the Morningstar 500's small-cap mutual funds to identify those that are efficient or inefficient in a production theory sense. This study examines the [...]

[T]he [Investment Company] Act ... places the stewardship of investor assets over the salesmanship of the ... 'products' of the managers.... [When problems occur] the issue is not people with [...]

While sunlight is the best disinfectant, electric light has proven the best policeman --Justice Louis Brandeis, in Other People's Money. as reported by Willoughby [2003a]. The last few years have [...]

A low expense ratio is the single most important reason why a fund does well. --John C. Bogle Your funds may be making you rich ... but, you're also getting [...]

We use data envelopment analysis (DEA) to identify the large-cap mutual funds in the Morningstar 500 [1999] that are efficient or inefficient. We also want to identify the financial variables [...]

Introduction The primary purpose of this study is to compare the domestic balance sheet strategy ('profiles') of international U.S. banks with those of domestic U.S. banks. The analysis was performed [...]

Abstract * This study analyzed the 1987 data of 176 relatively large U.S. banks that have both foreign and domestic offices. Canonical analysis and the interpretive framework of asset/liability management [...]