& strategic views

Experience the SS&A Difference

Today’s financial landscape is confusing. Both the regulatory structure and Wall Street have made it this way. Looking at recent history it is clear that Wall Street is not in the advice business, as most investors think. Instead, Wall Street is in the business of manufacturing and selling products. In our minds there are two types of financial professionals, those who have a fiduciary obligation and those who do not. Let us explain further.

To separate the various types of advisors, the easiest approach is to investigate two items: 1) how …

Know Your ABC’s: The Impact of Fees on Investment Performance

By G. Gregory Smith, Jr.

As a follow up to our study on how taxes can impair investment returns, we thought it only logical to address how fees are another “hidden pitfall” for investors. The following discussion is intended to be a primer on how investment managers are compensated. The multitude of investment vehicles on the market today prohibit a comprehensive explanation, but we hope this paper can help educate you on the various terms, structures, and layered fee arrangements that you may encounter in today’s market. Please keep in mind that you must always read the prospectus for each fund you …

Taxes — The Hidden Pitfall for Investors

By  E. Scott Batchelor, Jr.

Performance is the great leveler in the investment world. Most people are less concerned with how the vehicle looks than with how fast it travels, how much it costs, and how it will hold up in a crash (and yes, all three puns intended). However, measuring performance is not always as simple as one might think; especially when you take into account the obscurity under which many financial institutions operate. For instance, say you read that Mutual Fund XYZ had a 20% return for 2006. “Wow!” you’re probably thinking. Well, what if I told you that the fund had a …

Is Risk Factored into Your Investment Plan?

By Andrew D. Davis

The fluctuations in the securities markets have increased in recent days, driven by a myriad of economic data that has some investors fearing the onset of a recession.  The former Federal Reserve Chairman, Alan Greenspan, a little out of character, publicly gave his probability of a recession by year end 2007 at one in three.  His well-followed speech sent a ripple throughout markets, bringing back the memories when market participants hung on his every word.

The large sell-off in China and other emerging markets caused investors world wide to reevaluate the risk premiums that are factored into their portfolios.  Some market pundits were crediting this to an …