Step back and take stock

THE BUSINESS CASE for using multimanager solutions (fund of funds or manager of managers portfolios) is incre dibly powerful. First let me demonstrate by way of a rather blunt example. Supermodels do not get out of bed for less than £10,000. Many accountants and solicitors do not work for less than £250 per hour. So why do many advisers work for a client for £100 per year or less? Once the initial commission has gone, an adviser is often left looking after client portfolios that simply are not profitable to manage. The table below demonstrates this point by looking at the revenue an ad...