Compare BIA to Managed Funds

BIA

  • Complete transparency
  • Portfolios to suit risk profile
  • Individualized tax management
  • Simplified tax reporting with personalized 1099
  • Excellent client liquidity, allowing clients to easily move funds
  • Account held in client name; assets owned by client
  • No hidden fees
  • High service levels

Hedge/Mutual Funds

  • Highly opaque, limited information sharing
  • One portfolio for all investors
  • Same tax treatment for all investors
  • Fund-level reporting with investor allocations; can create complexity, unfairness and delays
  • Liquidity in or out only in open windows, frequently use lock-ups and gates
  • Held in fund name; assets owned by fund
  • Frequently additional charges beyond management and performance fees
  • Adviser services fund as client