Barrington Partners has conducted a “best practices” review of fees being paid to distributors and the allocation of costs of third-party intermediary service fees among the funds, the adviser and the distributor.
At the Fund Board’s request, the adviser hired Barrington Partners to do an independent review of the distributor agreements subject to reimbursement by the funds, the costs of transfer agency accounts, allocation methodology (including the differences between level 3 and omnibus accounts) and compliance efforts regarding the calculation of the fees.
Barrington Partners has conducted survey research on distributor costs, allocation of distributor costs to funds, and transfer agency costs in the past. This research allows Barrington Partners to compare practices against a range of approaches taken within the industry.