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BlackRock Cuts Bonuses as Fidelity Offers Buyouts
BlackRock has cut its bonuses from 2% to 4% while Fidelity is offering buyouts that involve providing up to two years of salary and benefits to employees age 55 or older with at least 10 years of service. So reports Barron’s.
The decisions by the two firms come at a time when investment companies are lowering their fees to remain competitive and in response to the regulatory concerns, such as the fiduciary standard for retirement plan advisors.
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