ING Advisor Network trims admin fees to brokers

FWR Staff

14 May 2007

Broker-dealer grp seeks to attract and retain brokers with competitive fees. Broker-dealers in ING Advisors Network (ING AN) have lowered administrative fees to advisors in two core advisory programs, bringing them to 4.5 basis points on total assets under management and 1.5 basis points for individual accounts.

The lowered administrative fees do not affect customer fees, which are still set by individual advisors.

Campaign

"This is another step in our effort to offer advisors the industry's best advisory services," says ING AN president Randy Ciccati. "Our fees are now among the most competitive and transparent in the business. Our integrated platform makes it easier for advisors to serve their customers, and our support in terms of personnel, marketing, and training are second-to-none."

The fee reduction is part of a campaign by ING broker-dealers to retain and attract independent brokers by helping them enhance their businesses by lowering costs and increasing their advisory offerings and assets under management. In a move to help advisors bring in more fee business, ING has an "Advisory University" training and education program that has attracted 1,700 advisors.

ING AN, part of Wilmington, Del.-based ING USA and a subsidiary of Dutch insurance and banking conglomerate ING Group, supports about 10,000 independent advisors with more than $14 billion in client assets. -FWR

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