LPL Financial has unveiled a new mutual fund platform designed to adhere to the fiduciary rule, though the rule's uncertain fate poses an impact on a key aspect of the plan.
The platform would feature load-waived shares in more than 1,500 funds from 20 sponsors, the country’s largest independent broker-dealer announced last week. LPL also plans to limit upfront commissions to 3.5% and set trailing fees at 0.25% on the platform, which is slated to launch early next year.
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