Updated Thursday, July 24, 2014 as of 3:24 PM ET
Practice - Regulatory/Compliance
All Tied Up
Tuesday, May 1, 2012

My investment advisory firm recently had a state examination. One of the items mentioned in the state's findings was our practice of occasionally discounting or waiving our quarterly fee for certain clients. We did this in the past for long-time clients whose accounts had little or no activity in the quarter. Why would the state have a problem if we charge clients less than what we could charge them?

— B.H., via e-mail

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