Thursday, January 04, 2007
At Chippewa Partners we have never allowed the use of soft dollars to pay for investment services. Never will. Another word for "soft dollars" is theft. Plain and simple. Trading to generate payments for services rendered with client assets should be stopped. Will it happen? Not a chance. Wall Street makes too much money in soft dollar payments. Money managers, including mutual funds and hedge funds, often pay Wall Street with “soft dollars” — inflated commissions that include the cost of trading (typically 1 to 2 cents a share) plus an additional few cents a share that can be directed to pay for research and other services. Soft dollars are controversial because clients pay for the higher commissions, while the services often benefit the manager the most. Higher commissions result in greater expenses for the fund and potentially lower returns for investors. In the late 1990s, the Securities and Exchange Commission cracked down on the use of soft dollars by mutual funds, concerned that investors were being duped into paying for services enjoyed by the manager. Massachusetts is now investigating whether hedge funds are improperly using soft dollars to pay for space in these hotels and failing to disclose to investors that they are covering a major expense.
Native American Advisors CHIPPEWA PARTNERS
- Dean Parisian, Founder & Chairman
- CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173