By Fred D. Fischer, President Wealth management firms by definition cannot hold themselves out to be “Investment Counsellors.” The Investment Advisors Act of 1940, regulating “Registered Investment Advisers” in the U.S., states that a substantial part of its business consists of rendering investment supervisory services. Wealth managers earn a portion of fees by providing financial…
by Fred D. Fischer, President Fischer Financial Services, Inc. is a Professional Investment Management Firm. Asking if benchmarks of excellence are necessary in managing investments is equivalent to asking a professional golfer if keeping his score against par is relevant. Providing a client with an investment return of 5%, 10%, or 15% is irrelevant because…
by Fred D. Fischer, President Our firm has studied the Investment Advisers Act of 1940 and the Securities and Exchange Act of 1934. Those laws regulate “Registered Investment Advisers” in the U.S. The laws and regs do not require investment managers, or other individuals purporting to give investment advice, to measure their performance for each…