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Smaller Firms Are Often Better
The Small Firm Advantages:
A small firm can focus almost 100% on investments and money management, which means:
"I've managed money for three banks and a large international organization," Phillips says. "Larger firms, with their spotlight on cost efficiency and product selling, are not nearly as attuned to investors' needs."
But the big advantage, Phillips believes, and the reason for the small firms' superior performance, is that "At a small firm, you can concentrate on our real business - which is money management. Plus, I'm not forced to use a specific model or sell some proprietary product to my clients."
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