Question: When, if ever, should a business manager recommend that their client fire their investment advisor?
Answer: It will be time for your client to part ways with their investment advisor when, over a protracted period of time, the investment advisor has been unable to accomplish the job they were hired to do.
The problem is knowing how to define the job for which the investment advisor has been hired and measure their activities and performance against that job description.
Following is a link to a white paper we wrote to help business managers define what should be included in the Investment Policy Statement (job description) that is delivered to their clients’ investment advisors.
This White Paper answers the following questions:
- What are the elements of the investment advisor’s Investment Policy Statement that need to be documented?
- What factors of the investment plan can the investment advisor control?
- Should the benchmark that the investment advisor proposes be the sole standard of measurement against which their activities are judged?
[button link=”http://info.anodosadvisors.com/when-to-fire-tp” newwindow=”yes”] Download White Paper[/button]
At Anodos, we help our clients answer the question, “Is my investment advisor doing a good job?” Many of our clients are individual trustees, business managers, ERISA trustees and endowment board members who are obligated to independently monitor the activities of the agents to whom investment duties have been delegated. What makes us unique is this is all we do. We don’t manage money, sell insurance, or accept referral fees. We don’t have a horse in the race.
Onward,
Josh Yager, Esq., CFP®, ChFC®
805-899-1245
jyager@anodosadvisors.com
Anodos helps trustees (ERISA, individual, and endowment) save time, reduce their personal risk, and fulfill their fiduciary duties. We do this by helping the trustee conduct audits of the money managers to whom investment duties have been delegated. Fiduciaries have an affirmative duty to provide ongoing and independent oversight of the money managers. What makes us unique is that we do not manage money or sell insurance. Doing fiduciary audits, benchmarking studies, and performance attribution is all we do.
We help trustees save time, reduce risk, and fulfill their fiduciary duties. What makes us unique is that trustee governance support is all we do.