John Thiel, head of Merrill Lynch’s ‘thundering herd’ of advisors, on Wall Street’s reputation, advisor productivity, and why the wirehouse model of wealth management is here to stay.
Managed futures funds have struggled recently, but historically outperform equities (at least on a risk-adjusted basis). Here’s how retail investors can play along.
“What this also tells you in big, bold colors is that advisory businesses do not scale. If you bring more volume to the pipe, theoretically, your average cost per client should go down. But what we’re seeing here is it going up.”