One and a half percentage points generally stays with the fund company, to pay for management of the funds, record - keeping, administration and so on. (tsinetwork.ca)
The two will share responsibilities for the day - to - day management of the fund's investment portfolio. (planadviser.com)
If you own a mutual fund, the fees go to pay the administration and portfolio management of the fund as well as paying your advisor. (moneysmartsblog.com)