Assante Wealth Management today announced proposals to set fixed administration fees for its Artisan Portfolios and Assante Pools.

The proposals have been tabled for a special investor meeting to be held in Toronto on August 30, 2005, at which investors can vote in person or by proxy.

The proposals do not include the Assante RSP Pools that are being closed to new investors.

“The operating expenses of the Artisan Portfolios and Assante Pools were reduced in January 2005,” said Steven Donald, president and COO of Assante Wealth Management, in a release.

“We are proposing to set them at an even lower level and then fix them so they cannot be raised without the permission of the investors – with the exception of taxes, borrowing costs and new government fees,” he added.

Subject to investor approval, effective September 1, the operating expenses of the Assante Pools and the Artisan Portfolios will be set at 0.17% to 0.22%, depending on the pool or portfolio.

With the competition setting their operating expenses at anywhere from 0.25% to 0.75%, Assante says it is offering investors sizeable savings.

“We are creating transparent pricing and a level of consistency between the management fee and the MER that is just being introduced into the marketplace,” said Donald. “Our approach ensures that our advisors and their clients will know exactly what they are paying to invest, now and in the future.”