The Reserve Bank of India (RBI) penalized Amazon.com Inc's (NASDAQ: AMZN) online payments processing service Amazon Pay (India) Private Limited by ₹30.7 million for deficiencies in regulatory compliance. Amazon Pay failed to comply with specific provisions of the Master Directions on Prepaid Payment Instruments (PPIs) dated August 27, 2021, and the Master Direction – Know Your Customer (KYC) Direction, 2016, dated February 25, 2016. In February, Amazon Pay won the Indian banking regulator's appr Read More...
MarketWatch
Is it fair for a financial adviser to charge me 1.6% if I have less than $250K in my account?
Question: I’m evaluating working with a financial adviser who is offering a 1.6% fee for accounts under $250,000. Answer: From a regulatory perspective, it’s usually prohibited to ever charge more than 2%, so it’s common to see fees range from as low as 0.25% all the way up to 2%, says certified financial planner Taylor Jessee at Impact Financial. If an adviser is doing investment management only, 1% tends to be the norm, but if they’re including financial planning, 1.6% is not entirely outrageous, some say.
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