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American Funds Exec Discusses Offering No-Load Funds
American Funds’ decision late last year to offer all of its funds on no-load platforms at Fidelity and Schwab is intended, in part, to allow retirement plan investors to avoid having to pay a second commission if they want to keep using the firm’s products durnig IRA rollovers. So reports Morningstar.
Tim Armour, chairman of the Capital Group, which offers the American Funds, says the organization believes the platforms offered by Fidelity and Schwab are appealing because both of those firms are large providers for 401(k) plan services.
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