Investor Advocacy Program-- Thoughts?
I am interning for an economist who is highly ranked by bloomberg, sells his research to top firms, speaks at many important conferences, etc. He is a nice dude who want to make more money off of his brain. What he wants to do is going into the Asset Management sector, particularly focusing on Investor Advocacy. Basically, he wants to be a "buy side" guy for people with a lot of money. He would be like a watch-dog for his clients to protect them from the financial advisors, make sure their financial advisors are making good decisions based on actual markets and not just the number of production credits they'll generate. Pay structure would be a retainer fee, which includes 25 hrs of work, i.e. quarterly calls/meetings, looking over deals, etc. My task as an intern is to try to figure out how to get these high net worth clients. My question for WSO is: what do you think of this idea? Have you seen anything like this? Do you think this is worth trying?