05.30.24

Fidelity Won't Levy Proposed Fees on Purchases From Boutique ETF Firms

by: Suzanne McGee

Fidelity Investments will not impose new fees on investors buying exchange-traded funds (ETFs) issued by a group of smaller asset management firms, after making progress on a revenue-sharing agreement with issuers, according to insiders. Fidelity warned a group of nine issuers in April that if those firms didn't negotiate or agree on a deal, their investors would have to pay up to $100 per ETF purchase on the Fidelity platform, effective on June 3. Fidelity, which has allowed investors to trade ETFs without fees since 2019, last year asked the group, including Simplify Asset Management, Rayliant Global Advisors and AXS Investments, to help shoulder operating costs.

Read the full article on Reuters