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You'll need funds that don't include embedded "trailer" fees.
Fees you pay to an adviser to manage a non-registered investment account are tax-deductible. Unfortunately, if you’re a mutual fund investor, you can’t take advantage of this, because the fee paid to your adviser for helping you with your portfolio is buried in the fund’s management fee. On a typical fund with a 2.5% fee, 1.5% might go to the fund company, while the other 1% is a “trailer” paid to your adviser. There is a way around this, however. Scott Plaskett says you should ask whether your adviser can arrange to use a different class of mutual funds that does not include this embedded fee. Here’s how it could work:
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