Pros
- Very diligent in controlling any message that goes out to clients and business partners - Multiple layers in place to catch errors and double check accuracy - Free lunch every day prepared by a professional chef - Allowed to run autonomously from their parent company Virtus - No micromanagement and the appearance of a very laxed management structure - Strong emphasis on personal relationship with clients - Willing to go the extra mile to provide a higher level of service
Cons
- Women make less then men. - Claims open architecture environment for investment solutions but tends to favor under performing in house products over outside ones with very few best of breed products in house. - Multi layered fees by using mutual funds in wrap accounts. - Achieved high ranking of Barron's top 100 RIA listing through manipulation of assets under management by including institutional wealth advisory assets. - Multi-layered work flow environment is designed to catch errors but also hinders efficiency and timeliness. A single trade takes several hours to achieve. Several weeks to open a new account, fund and invest client assets. - Each strategy is model driven and the portfolio manager gives no regard to the pricing of each security upon investment implementation. No attempt is made to dollar cost average into investments - Performance reports given to clients are calculated as gross and not net. This means they include their own management fee as a client withdrawal. This a poor representation of value added. - Heavily weighted in small cap and energy sectors - Will cherry pick information presented to each individual client so that it presents the firm in the best possible light - Minimal training on internal systems and consists of no formal process. Internal system riddled with one-off scenarios and "gotcha" situations - Severely behind the times by > 10 yrs on software for investment management and portfolio asset allocation tracking - Very reliant on a Salesforce database that was poorly organized for most client information.