FA Center: Run, don’t walk, from investing pros who won’t lay their cards on the table

Surgeons and investment advisors often are asked the same question: “What’s going on inside?”

To be sure, the query prompts different answers among practitioners of medicine and those of investment management. Staggering gains in technology in both areas have enabled professionals in each sphere to provide investors with far greater transparency than ever before.

For investment advisers, as portfolio construction has become more complex and investment options multiply, trying to manage and make sense of the overlaps, gaps, fees paid, and other major and minor informational elements contained in those holdings would be overwhelming without advanced analytical tools. Technology is empowering new levels of transparency, enabling managers and their clients to pinpoint, see, and understand more thoroughly what is driving — or dragging — portfolio performance.

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