Imagine $13 billion evaporating. Poof. Gone from the financial services system. If 12b-1 fees are prohibited, financial advisors collectively would lose about that much per year in income. That's not an exact number, of course, but it's what the SEC estimates. Even as a ballpark, it's a pretty scary number. On the bright side, that amount would default to retail investors, since 12b-1 fees are taken

byDavid Geracioti, Editor in Chief