Start-up Inside Information has declared itself the first flat-fee asset manager, charging only $500 per adviser client. “This transition is kind of bleeding-edge for advisers, but for the asset management industry it’s unheard of, but if you believe these trends follow each other, then it’s possible that flat fees are the future.” The firm's offering comes as financial advisers anticipate a decline in investment management fees as more managers outsource portfolios to market experts. In last year in business, First Ascent has gathered only $500 in assets and another $50 million worth of commitments. The firm offers five investment portfolios consisting of mutual funds and ETFs pitched at 20 different risk levels. Customers are charged for customising any of the firm's portfolio offerings.
Start-up Inside Information has declared itself the first flat-fee asset manager, charging only $500 per adviser client. The firm's offering comes as financial advisers anticipate a decline in investment management fees as more managers outsource portfolios to market experts. In last year in business, First Ascent has gathered only $500 in assets and another $50 million worth of commitments. The firm offers five investment portfolios consisting of mutual funds and ETFs pitched at 20 different risk levels. Customers are charged for customising any of the firm's portfolio offerings.