Gatekeepers who are or want to be Asset Managers need to choose.  The standards of Gatekeepers letting Asset Managers pass the gate have not changed much since I taught Manager Selection and Due Diligence for IMCA’s CIMA certification.  What has changed are the gatekeepers for firms, investment consultants, and individual advisors for individual clients, who would not hire an asset manager that is not GIPS compliant and have an independently audited track record still hire themselves as an asset manager.  It’s time to choose; if gatekeepers, investment consultants, or individual advisors are going to run models as asset managers, it’s time to use the same standard of claiming GIPS and having an independently verified track record in the best interest of your client.

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