Grandfathering
A quaint practice that is rare compared with the “real thing” is the ceremony chosen by some couples to celebrate a long marriage, namely the “renewal of vows”. Not quite the same thing but now mandated in the financial services world is the abolition of “grandfathering” - the payment of annual fees to financial advisors. Now required is an annual affirmation from the investor that it’s OK for a fund manager to continue paying a percentage fee of the investment to the origina