Money managers

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Jul 8, 2009 11:24 pm

Do any of you folks pay outside money managers to manage client assets?  If so, what do you pay for the privilege?  What performance premium do you require to justify the cost?

Jul 8, 2009 11:44 pm

Go away.

Jul 9, 2009 12:19 am

Having a bad day today Mr. Morphius?  Maybe if you tell me about it I can help?

Jul 9, 2009 8:10 am

Dear Dr. Max,


I appreciate your concern for my feelings. 


If simple ignorance is your issue, and you really are completely unaware of the widely used practice of using outside money managers in SMAs or similar, you can learn a lot simply by using the search function and/or googling it. 

But I answered as I did not because I thought you were ignorant, but because you sound like yet another vendor trolling for business under the guise of being an advisor asking questions.  Privilege?  Performance premium?  Advisors don't use those terms - asset managers do.  You folks?  As in, you're not one of us?

A new username, with a few posts, all addressing the same topic usually equals an undercover vendor, and we've been getting a number of them here lately.  To you and them I say again: be upfront about your agenda and contribute beyond just trying to sell your product or service, or go away.

But thanks for worrying about me.  I feel better already. 

Jul 9, 2009 10:32 am

Max, we have another occassional poster on here (AdvisorControl - Jason) who was very up front about what he does and what he is trying to accomplish.  We actually like reading what he has to say.  As Morph said, most of us appreciate people being up front about their intentions.  If we are interested in what you are selling, we'll tell you.

Jul 9, 2009 10:46 am

Good on ya Morph! 

Jul 9, 2009 1:04 pm

Mr. Morphius, you are a paranoid fool.  My IA certification was approved by the state of CA on June 25.  I'll probably be open for business in Spring of 2011.  Pardon me for using words like premium and folks.  Nobody's perfect.  I'm a long time investor and asset management is where I excel.  I would prefer to provide my services to other financial professionals because I want to deal with people that can understand what it is I'm doing for them.  I'm not a hand holder and most of the "work" IAs do for retail clients I would find tedious. 

My question was an attempt on my part to get a feel for what other advisers would be willing to pay for a particular level of performance.  I'm sorry I asked.  I thought I had found a place where I could exchange ideas with people who share my interests and concerns.  I guess I was wrong.

Jul 9, 2009 1:08 pm

Privilege?  Performance premium?  Advisors don't use those terms - asset managers do.  You folks?  As in, you're not one of us?


What a hoot! 

Jul 9, 2009 2:30 pm
max:

Mr. Morphius, you are a paranoid fool.  My IA certification was approved by the state of CA on June 25.  I'll probably be open for business in Spring of 2011.  Pardon me for using words like premium and folks.  Nobody's perfect.  I'm a long time investor and asset management is where I excel.  I would prefer to provide my services to other financial professionals because I want to deal with people that can understand what it is I'm doing for them.  I'm not a hand holder and most of the "work" IAs do for retail clients I would find tedious. 

My question was an attempt on my part to get a feel for what other advisers would be willing to pay for a particular level of performance.  I'm sorry I asked.  I thought I had found a place where I could exchange ideas with people who share my interests and concerns.  I guess I was wrong.



Wow.  An honest-to-goodness state certified IA!  How exciting!! I'm sorry for assuming you were an undercover vendor, when all along you were really just completely ignorant of how the business even works.  And how impressive that despite that ignorance you opt to start calling people names who
could help them if they so chose.  Hope that strategy works well for you.

If I weren't such a "paranoid fool" I might be more inclined to warn you about the many obvious red flags waving madly with your every utterance, or the train wreck waiting for you just around the bend if you actually try to make a living at this with your current misconceptions and inexperience.   But being a "long time investor" who "excels" in asset management, it would no doubt be too "tedious" for you.  It sounds like you would prefer to screw up in real life rather than suffer the embarrassment of being corrected on an anonymous forum where the only thing you hurt is your ego.

Ignorance is no crime, but when you combine ignorance with arrogance and name calling,  you have only yourself to blame if the results are not what you hoped.



Good luck, maxy.  I think you're going to need it.

Jul 9, 2009 3:30 pm

What is your problem morphius?  I posted a sincere question and I'm greeted by you with a presumptuous "go away" and then an uninformed assessment of my chances for success.  You are condescending and ridiculous.  If everyone here is like you then this forum is a waste of time.  I'm sorry I intruded onto your turf.  Good  luck with your biz. 

Jul 9, 2009 3:41 pm

Max,

 
You would have only had to have been on this site for the last six months and you would understand Morph's and most of our distrust. 
Jul 9, 2009 4:28 pm
max:

What is your problem morphius?  I posted a sincere question and I'm greeted by you with a presumptuous "go away"


You can be both sincere and ignorant.  They are not
mutually exclusive. 

Max, your question showed such a complete and utter
lack of understanding of basic business practices in the industry that
I presumed you were yet another troll. It turns out that you were simply totally clueless.  Sorry for assuming that anyone who posted on a forum for financial professionals could never be that ignorant, and that you must therefore be another vendor troll. 

max:

and then an uninformed assessment of my chances for success. 


You don't even know what you don't know.  You have little understanding of how the business works, zero experience in managing money for others, and you call people names who speak honestly to you.  How much more information do you suppose one would need to negatively assess your chances for success?

max:

You are condescending and ridiculous. 


I can be both condescending and honest, without being ridiculous.  Regardless, I actually answered your question already, remember?:

Morphius:

If simple ignorance is your issue, and you really are completely
unaware of the widely used practice of using outside money managers in
SMAs or similar, you can learn a lot simply by using the search
function and/or googling it. 


What did you learn when you used the search/google option?


Jul 9, 2009 4:47 pm

Read my original question carefully.  I sought the opinions of the people who post to this forum.  How would a web search provide me with that?  I know about SMAs and I have a pretty could idea how the fees break down.  But that wasn't my question.  I thought someone here might have something of value to add to what  I already know.  Apparently not.  

Jul 9, 2009 5:17 pm
max:

Do any of you folks pay outside money managers to manage client assets?  If so, what do you pay for the privilege?  What performance premium do you require to justify the cost?

How about this poser...
 
What would you like to charge and what kind of performance can you provide?
 
Answer those questions and you will find out if you are hi or low.
Jul 9, 2009 5:20 pm

What's your story Morphius?  Are you an RIA?  Do you operate your own business?  Do you actually have clients and assets under management?  What's the  name of your company?  I'd like to look up your ADV on the Public Disclosure site.  You do have an ADV don't you?  My guess is you're a wannabe adviser living in your mommy's basement and drive an ice ceam truck for a little extra cash to keep supplied with meth.  I could be wrong, but not likely.  

Jul 9, 2009 5:26 pm

Can you answer my original question Jaxon or do you drive an ice cream truck too?

Jul 9, 2009 6:12 pm
max:

What's your story Morphius?  Are you an RIA?  Do you operate your own business?  Do you actually have clients and assets under management?  What's the  name of your company?  I'd like to look up your ADV on the Public Disclosure site.  You do have an ADV don't you?  My guess is you're a wannabe adviser living in your mommy's basement and drive an ice ceam truck for a little extra cash to keep supplied with meth.  I could be wrong, but not likely.  


This gets better and better!    Now you want to act tough and start calling people out!       And since you refuse to search for what you want to learn, you'll never know my story, as I have better things to do than do your work for you.  Like ridiculing you!

Not sure which is more funny: the fact that you think anyone would pay you anything to manage money on the strength of your being "a long time investor," or that you think being certified by CA as an IA means anything at all! 

But wait!!  There's more!!!!!!  

You'll "probably" be open for business in the Spring of 2011!!  Only a couple more years!! That means for the next couple of years, until you probably open your doors with all those professionals clamoring to pay you to manage their clients' money so that you don't have to deal with the tedium of explaining your genius to the actual clients, you'll do what?  Continue pretending to be a professional by posting stupid questions on forums for professionals?

What was I thinking when I said you were clueless and ignorant?!  I should have said ignorant and clueless!  My mistake! 

Keep the dream alive, max ... hit the snooze button again!! 

Jul 9, 2009 6:30 pm
max:

Can you answer my original question Jaxon or do you drive an ice cream truck too?

 
Can? Yes, I can answer the questions but I will not. Who in the world would ask those types of questions and expect someone to answer on a public forum. Go visit professionals in your area and ask them personally.
 
I think driving the ice cream truck is far better then riding around on the short bus.
 
 
Jul 9, 2009 6:50 pm
max:

What's your story Morphius?  Are you an RIA?  Do you operate your own business?  Do you actually have clients and assets under management?  What's the  name of your company?  I'd like to look up your ADV on the Public Disclosure site.  You do have an ADV don't you?  My guess is you're a wannabe adviser living in your mommy's basement and drive an ice ceam truck for a little extra cash to keep supplied with meth.  I could be wrong, but not likely.  



Owned.

Jul 9, 2009 6:51 pm
JAXSON:
max:

Do any of you folks pay outside money managers to manage client assets?  If so, what do you pay for the privilege?  What performance premium do you require to justify the cost?

How about this poser...
 
What would you like to charge and what kind of performance can you provide?
 
Answer those questions and you will find out if you are hi or low.



What about him? Your a cold call boy posing as an authentic broker.