[quote=faith]I am interested in this industry and would like to know how do most
people manage the assets at the Big shops. Are they just selling a product
and putting cash in these products or ar they really looking at client
needs.

Also, can some explain how mangaged accounts work.

Thanks[/quote]

Nobody looks at client needs. Managed accounts don't work.

Thanks for the feedback. So are you telling me that everyone is just out

there to get paid off of the commissions generated by the sale of the

product.



And why do you say managed accounts do not work, as I have been told

this is the best practice.

[quote=faith]Thanks for the feedback. So are you telling me that everyone is just out
there to get paid off of the commissions generated by the sale of the
product.

And why do you say managed accounts do not work, as I have been told
this is the best practice. [/quote]

Yeah...we're a bunch of crooks. We came up with managed accounts to squeeze money out of people too smart to pay commissions. Little do they know how much worse off they are.

Dirk - I know you’re being sarcastic, but in a way its true.  The
client always ends up paying WAY more over the long run with a fee
based (managed) account.  But technically we’re not crooks because
we get them to agree to it.

[quote=ShortNakedPuts]Dirk - I know you're being sarcastic, but in a way its true.  The client always ends up paying WAY more over the long run with a fee based (managed) account.  But technically we're not crooks because we get them to agree to it. [/quote]

That's why I take my commissions up front. I hate seeing people getting screwed with asset based fees.