Canadian ETF provider Horizon has launched adviser class versions of four of its ETFs in a bid to attract advisers which work on a commission basis.
The new classes of the ETFs, which listed in Toronto last week, will pay a 75 basis point annual trailing service fee. Horizon is the third Canadian ETF provider to add this feature to its products. "We resisted this move for a long period of time but the fact of the matter is that in the Canadian market place there is a big component of the advisory channel which gets paid service fees on mutual funds or structured products," says Howard Atkinson president of Horizon ETFs in Toronto. "They don't operate a fee-based account model. We heard from these advisers that ‘I love your ETFs bu...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes