Partner Stuart Fross was quoted in a Board IQ article, “Pru Proposal: You Raise 12b-1 Fees, We’ll Lower Advisory Fee,” on May 19, 2015. The article discussed Prudential’s relatively uncommon request of shareholders in its Advanced Series Trust to approve a 15-basis-point increase in 12-b1 fees. Fross said the plan provides more clarity about what money is being used to pay for and was quoted saying, “It’s highly unusual in this day and age for an adviser to say, ‘I’m not comfortable with that. I want to have these payments made under 12b-1.’ The brokers don’t care [where the money comes from].”
