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In fee-based investment accounts, advisors and the investment or mutual fund dealers they work for will typically charge an account fee for advice, access and service directly to the investor. This fee is usually disclosed and arranged up front, and is often based on the assets in your account.


Fee-based mutual funds (series F units)

When an investor buys a mutual fund in a fee-based account they will purchase series F units of the fund. Series F units are only available in fee-based accounts as they do not include a trailing commission as a component of their MER. As a result, series F units will have lower MERs than other series of the same fund which do include a trailing commission as part of their MER, such as series A units.

Account fees and trailing commissions are both fees for the advice, access and services provided to an investor.

For fee-based investors, account fees are charged directly to the investor by their investment advisor and the investment or mutual fund dealer they work for.

On the other hand, trailing commissions are embedded in the MER of a mutual fund. As the mutual fund manager collects this commission, they pay the mutual fund dealer and your advisor.

Transparency of fees and costs

Costs are visible and reported to investors so they can compare mutual fund performance across funds as only the investment management fee, operating expenses and taxes are embedded.

Personalized pricing

As the account fee is typically tiered based on an investor’s account size, fee-based accounts recognize larger relationships with lower pricing.

Fee grouping

Many fee-based accounts allow investors to group assets across members of a household or family, leading to further fee reductions.

For more information about the costs of investing in mutual funds, please speak with your advisor.

Additional resources

Disclosure

Dernière révision : 1er janvier 2023

Le présent document a été préparé par RBC Gestion mondiale d’actifs Inc. (RBC GMA) aux fins d’information uniquement. Il n’a pas pour objectif de fournir des conseils juridiques, comptables, fiscaux, financiers, liés aux placements ou autres, et ne doit pas servir de fondement à de tels conseils. RBC GMA prend des mesures raisonnables pour fournir des renseignements à jour, exacts et fiables, et croit qu’ils le sont au moment de leur communication. Les informations obtenues de tiers sont jugées fiables, mais RBC GMA et ses sociétés affiliées n’assument aucune responsabilité à l’égard de tout dommage, perte, erreur ou omission. RBC GMA se réservent le droit, à tout moment et sans préavis, de corriger ou de modifier les renseignements, ou de cesser de les publier.