• Or a charity, initially set up by an endowment, may want to distribute cash to a good cause but needs an aggressive capital appreciation strategy to fulfil its mandate.
In summary, do the majority of clients really need individually crafted portfolios? Probably not.
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Or do they want to be glad handed by an investment specialist? Some do.
The simple message is do your due diligence and know exactly which service is being offered by the discretionary firms. After all, that way you can explain to your clients which service is most suitability for them.
Frank Potaczek is head of insight and consulting (fund management) at Defaqto
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