[Weekly wrap] Managed funds the victor - just
The conference provided plenty of food for thought for advisers on a range of issues they face going about their daily business, with one of the most well-received sessions being the debate between direct investment and managed funds.
This had advisers on the edge of their seats as Mark Lister of Craigs Investment Partners representing direct investments and Brian Gaynor of Milford Asset Management in the funds corner made their arguments for their preferred investment option. A show of hands had Gaynor winning narrowly.
But regardless of what mix of direct/managed funds they choose, advisers shouldn't market themselves based on their investing prowess, one speaker told attendees. According to Paul Resnik, advisers can add as much as 6% per year in non-investment benefits for their clients.
The story contains a breakdown of how he came up with that number, but his message was clear: promote this "alpha" rather than relying on chasing investment alpha, which is more difficult to achieve. His claim is sure to be met with some scepticism but advisers obviously need to add some sort of value or clients won't come back.
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