A Conseiller.ca exclusive report finds that TD has lowered trailers on certain funds, but did not subsequently lower the fees charged to clients.
Several advisors provided Conseiller.ca with documents showing that on April 1, TD Asset Management cut trailing commissions on the following funds:
- TD Ultra Short Term Bond Fund;
- TD Balanced Income Fund;
- TD Balanced Growth Fund;
- TD Diversified Monthly Income Fund.
With the TD Balanced Income Fund, for instance, the trailers fell 25 basis points, but the management fee, so far, remains the same.
When asked for comment regarding the trailer reduction, TD declined.
Advisors told Conseiller.ca they felt the move was, while compliant, unethical. One spoke of boycotting TD funds.