Dunn: Asset managers without personal exposure risk fees, not personal wealth
Brendan Holt Dunn · Our Family's Money Goes In First - Here's Why That Changes Everything · Jun 27, 2023 · at 3:36
Brendan Holt Dunn, CEO of Holden, contrasts traditional independent asset management firms with multi-family offices where managers invest personal wealth alongside clients.
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“Most independent asset management firms, you know, they might be managing a lot of money, but that money is not theirs. It's just client money. So they might lose 20% on a position, and it'll hurt their management fees, it'll hurt their performance fees, but most likely it usually doesn't have a major impact on that person's individual net worth.”
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