At Pacific Investment Advisory, each client represents a significant portion of our business and is treated like it. Smaller Firms Are Often Better
Money Management Letter
reports that a 2002 InvestorForce survey found the
best performance at smaller investment firms.
The newsletter also quotes investment management consultant Michael Rosen, who says, As assets grow, performance tends to deteriorate. The Small Firm Advantages: A small firm can focus almost 100% on investments and money management, which means:
Ive 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 businesswhich is money management. Plus, Im not forced to use a specific model or sell some proprietary product to my clients.
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