Due Dilligence Trips

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May 23, 2008 2:54 pm

Do wirehouse and indy guys go on Due Dilligence trips?


I realize how naive the question sounds, but I've never heard anyone other than Jones folks mention them.
May 23, 2008 3:21 pm

Yes we do. When I've gone (about three times) while indy, there were advisors from many other firms. I would assume Jones would want the fund to have a "Jones only" due diligence trip, but I could be wrong.

May 23, 2008 3:29 pm
now_indy:

Yes we do. When I've gone (about three times) while indy, there were advisors from many other firms. I would assume Jones would want the fund to have a "Jones only" due diligence trip, but I could be wrong.

 
 
You are correct.
May 23, 2008 3:48 pm

Yep, I get about 18 invites a yr, & go on about 6 of those a yr. 

This yr: to Boston, Phoenix, Chicago, San Fran, Orlando, Denver, & Los Angeles.
2 MF companies, 2 VA, 2 REIT's.
Those firms clears w/ our home office, then call/send out invites.
 
All of the meetings are w/ reps from other independent firms.  Never seen a wirehouse nor Jones rep there.
 
May 23, 2008 3:51 pm

We're only allowed to go on two a year.

 
I was under the assumption that was an industry regulation.
May 23, 2008 3:52 pm

I've done due dili's with fund companies.

 
Speaking of EDJ, I was at a mutual fund event where they brought in the fund manager and I remember the wholesaler in the invitation wrote, "There will be advisors from different firms.  Make sure you get approval if your firm requires this."  It was geared towards EDJ. 
 
Not only do they give you the kool-aid, but they grab you by the neck and force you to drink the punch bowl.  Forget about wandering over to the champagne at a different table.
May 23, 2008 8:15 pm

Yes, get invited, rarely go.  MFD's, VA's, REIT's.  Being Indy and going to these is a lot of fun to talk shop and see how others view the world.

May 23, 2008 8:20 pm
Borker Boy:

We're only allowed to go on two a year.

 
I was under the assumption that was an industry regulation.
 
I'll bet there's a lot you're under the assumption of, but don't know what it's really like because you're at EDJ.
 
Case in point:  There are other fund families besides American Funds and Franklin Templeton...
May 23, 2008 8:38 pm
snaggletooth:
Borker Boy:

We're only allowed to go on two a year.

 
I was under the assumption that was an industry regulation.
 
I'll bet there's a lot you're under the assumption of, but don't know what it's really like because you're at EDJ.
 
Case in point:  There are other fund families besides American Funds and Franklin Templeton...
 
Six more to be exact.
May 23, 2008 9:41 pm
snaggletooth:
 
I'll bet there's a lot you're under the assumption of, but don't know what it's really like because you're at EDJ.
 
Case in point:  There are other fund families besides American Funds and Franklin Templeton...
 
 
Actually, I'm seeing clearer with every passing day...
May 24, 2008 11:10 am

VanKamp, LordA, Oppen, Harftford, Goldman, I'm trying to remember them all but can't remember a 6th?  I know they just dropped Putnam. 



Help me out someone.
May 24, 2008 11:11 am

They were thinking of Putnam.  Your conscience is clear

May 24, 2008 12:17 pm

Federated, you know, the one they have an onwership interest in.

May 24, 2008 5:28 pm

Nah, they dropped Federated a while back.

May 25, 2008 3:18 am

What???

No more due diligence meetings to Boston w/ Putnam?
No more pep talk by Dr Bob?