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4) Relationships: Does Big = Better Relationships? The mix may consist of:
I believe the key factor in relationships is continuity. (a) Management Fees
I know when I deal with other firms there is nothing (b) Performance Fees
more frustrating than having to deal with someone new (c) Transaction Fees
because my relationship manager has been promoted or (d) Custodian Fees and
has decided to work for a different firm. Staff turnover (e) Front End Charges on Investments.
tends to be lower in smaller firms, so in this area
Investment boutiques appear to have the edge. This is not an exhaustive list there can be many other
charges.
5) Cost: Does Big = Cost Effective?
There is no straight answer here. Big firms tend to have Conclusion
a large infrastructure to support but that does not make As I work for a Boutique Investment Manager you
them unequivocally expensive there is a huge variance probably expect me to conclude with Boutique is best.
from firm to firm. Likewise Investment boutiques may However, I believe in life things are rarely black and
not have a large infrastructure to support but that does white and whilst my clients like dealing with an
not make them unequivocally cheap. As regards cost it Investment boutique it is not for everyone. If you appoint
is very much a case of buyer beware. There are a range an Investment Manager it should be a long term
of different charging structures employed so make sure relationship, so I believe the key is finding someone you
you are aware of all costs so that you can make a like and trust as you will need to be comfortable with
comparison and choose what is right for you. them in good times and bad times.
If you would like to know more contact David on:
Tel: (01534) 281004
Email: d.lecornu@corazoncapital.com
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