By Ronald Collins - info resource from https://twitter.com/harryrady
Harry Rady of Rady Asset Management elaborates the OCIO concept by explaining that the financial advisors should focus on their fields of expertise. The relationship management, acquiring assets and basic financial advice are among such areas which the Chief Investment Officers need to focus on as they simply play as a team member.
It was in January 26, 2012 when Harry talked about this in the Wall Street Journal under the segment “Voices.” By focusing on what they do best, the advisors get to benefit more from the high net worth clients which is basically what they are after of. When they get more returns and attract more clients, they will surely be paid more.
How this works has truly taken most brokers high up. Instead of having to carry so much load, the OCIO takes care of the resources for the portfolio and individual stocks allowing a single point of contact from thereon. As a result, they get to offer philanthropic advice, asset allocation, global investments and tax planning as services.
This is something which Harry knows for sure, can affect the investment world increasingly. Refer back to the segment of the journal for more information though.
It was in January 26, 2012 when Harry talked about this in the Wall Street Journal under the segment “Voices.” By focusing on what they do best, the advisors get to benefit more from the high net worth clients which is basically what they are after of. When they get more returns and attract more clients, they will surely be paid more.
How this works has truly taken most brokers high up. Instead of having to carry so much load, the OCIO takes care of the resources for the portfolio and individual stocks allowing a single point of contact from thereon. As a result, they get to offer philanthropic advice, asset allocation, global investments and tax planning as services.
This is something which Harry knows for sure, can affect the investment world increasingly. Refer back to the segment of the journal for more information though.
