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Fidelity is set to introduce a new $100 servicing charge on ETFs from nine firms listed on its platform starting June 3. This fee is aimed at covering the costs associated with listing the products, affecting investors placing buy orders on the specified ETFs. The move has sparked concerns among retail and small investors who may be unaware of the additional charge, potentially leading to frustration and financial losses.
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The thing is, many investors don't associate tickers with companies. So this is punishing retail and small investors, not the ETF company. Thousands of little investors are going to buy a few shares, pay $100 commissions, and lose their minds. But they're going to be furious… https://t.co/lWSbUpZr3R