What is the impact of charging a sales representative a trailer fee?
Canada (Federal), Canada
The following excerpt is from Boutilier v. The Queen, 2007 TCC 96 (CanLII):
The practice of paying trailer fees was described in Piche v. Lecours Lumber Co., [1993] O.J. No. 1686 as follows: ... while the company stopped sharing some of the expenses, there was instituted in 1990 the practice by many mutual funds of paying trailer fees which was a fee of one half of one percent per annum calculated on a salesman's portfolio. It was paid to encourage salesmen to service their clients, with a view to discouraging redemptions. This has added substantially to the income of those selling mutual funds as the practice has now become almost universal. [emphasis added]
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