NU Online News Service, Oct. 16, 2003, 2:03 p.m. EDT — First-tier mutual fund distributors spent an average of $79,200 more in total sales costs per wholesaler last year than did second-tier companies, reports a new study by DGL Consultants, Richford, Vt.
DGL defines first-tier distributors as those whose mutual fund assets exceed $40 billion, while second-tier firms are those selling under that figure.