Fidelity Investments plans to charge investors a $100 service fee on exchange-traded funds purchased from nine firms that don't have maintenance arrangements with the financial services giant, a spokesman confirmed.
Fidelity plans to put the fees into effect on June 3, according to a CityWire report, which is based on a Bloomberg story that Fidelity has confirmed. The charge covers costs associated with listing the ETFs on Fidelity's platform, according to the reports.
The list of affected firms — Adaptive, AXS Investments, Cambiar, Day Hagan, Rayliant, Regents Park, Running Oak, Simplify Asset Management and Sterling Capital — could change, CityWire reported.
