Broker-Dealers of ING lower fees on advisory accounts
The broker-dealers of ING announced today that they will be lowering the fees that their advisors pay on two core advisory programs. Administrative fees with the new structure are as low as 4.5 basis points on total assets under management and 1.5 basis points for individual accounts.
Under the ING Advisors Network umbrella, the broker-dealers of ING have undertaken a number of initiatives to dramatically increase their advisory offerings and assets under management. In 2005, ING introduced Advisory University to educate advisors who desire to transition their business to an advisory-based model. The program also includes a “master’s” level for seasoned advisors looking to significantly enhance their existing advisory business. Approximately 1,700 advisors have participated in the Advisory University program with remarkable results: advisors who attend the introductory “bachelor’s” course increase their assets under management by an average of 143% within 12 months.
In 2006, ING Advisors Network introduced a new advisory component to its integrated technology platform, ING SmartWorks. Additionally, it launched a new turn-key mutual fund wrap program called SmartSelect. ING Advisors Network now has more than $14 billion in assets under management in its advisory programs, which have grown at an annual growth rate of 38% since 2003.
“This is another step in our effort to offer advisors the industry’s best advisory services,” said Randy Ciccati, president of ING Advisors Network. “Our fees are now among the most competitive – and transparent - in the business. Our integrated platform makes it easier for advisors to serve their customers, and our support in terms of personnel, marketing, and training are second-to-none.”
The lower fee structure does not impact customer fees, which are determined by individual advisors.
Phil Margolis, ING USFS, 860-723-4783 or firstname.lastname@example.org
About the broker-dealers of ING
ING Advisors Network is an independent broker-dealer network consisting of Financial Network Investment Corporation, ING Financial Partners, Inc., Multi-Financial Securities Corporation and PRIMEVEST Financial Services, Inc. With approximately 9,000 financial professionals, these four firms specialize in financial planning, asset management, insurance, and third-party bank marketing. The broker-dealers of ING are members of the Securities Investor Protection Corporation
ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 120, 000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation. For more information, visit www.ing.com.