True Custom Management.
Many investment managers handle all of their accounts approximately
the same. In many cases, each account is little more than a slice of
what otherwise might be a "one-size fits-all" mutual fund. Our
clients' accounts are held and managed separately, and in specific
consideration of each client's preferences, tax circumstances, risk
tolerances and other individual variables. No two accounts are the
same at Channer, because no two clients are the same.
Stock and bond expertise.
Most people in the investment business started on either the bond
side or the stock side, and have gone on to develop their respective
affinity. The third generation Channer organization is unusually
well developed in both areas. The first two generations of Channers
specialized on the bond side. The third (present), mentored under
the previous, then established new mentors who became three of the
greatest stock investors of all time: John Templeton, Peter Lynch &
Warren Buffett. At Channer, it is about stocks and bonds, not one or
the other.
Twin responsibilities.
All investment managers accept responsibility for the management of
their clients' accounts. At Channer we do not believe that is
enough. We know that investor behavior, (the tendency to make course
changes based of emotion or media influence), is a major hazard for
all investors. We therefore accept a second responsibility, which is
to help develop the "investment temperament" of each of our clients.
By contrast many modern investment managers wish to avoid direct
contact with clients. We believe that view to be common, cost
efficient, but mistaken.
Client involvement. Investment managers
generally have your written consent to manage your account with
discretion. This means they can make decisions without client
approval or involvement. Through Linsco Private Ledger, a registered
investment advisor, the investment professionals at Channer do the
same, but we also recognize that it is not an all-or-none
proposition for most people. Some investors want to be involved in
the decision making process because they learn and understand the
investment process better by doing so. At Channer, as unusual as it
is, we encourage investor involvement. We want to build and grow
personal relationships with each of our clients. Our clients are not
commodities; they are people, and we treat them as intelligent
individuals.
Pricing alternatives. Most investment
managers are fee based, but some also charge commissions for
transactions. Others share their fees with referring brokers (wrap
accounts), which often leads to higher client costs. The financial
professionals at Channer offer both commissionable brokerage
accounts and fee based management accounts through LPL Financial. But it is one or the other, not both in the same account.
The fees are negotiable, depending on the needs and circumstances of
the client.
No "sell-side" research. "Sell-side"
research is the product of analysts who publish their reports on
behalf of a "sales force". It has been historically fraught with
conflicts of interest, and poor results. By comparison, buy-side
research is driven by the requirements of professional investment
managers who buy for the benefit of their clients. At Channer we
utilize buy-side research; we find sell-side research to be suspect
by nature.