Evercore Wealth Management Featured in Fundfire Article on Elite Wealth Firms

December 17, 2009

By Tom Stabile

Fundfire

Evercore Wealth Management clients prefer transparency in holdings and in the investment thinking behind them – access not always available from a third-party manager, chairman and CEO Jeff Maurer told Fundfire in an interview. “Our clients like to talk to the portfolio manager about what’s in the account and why it’s in there. They want a customized portfolio and they want personalized tax efficiency.”

Evercore has built teams with fixed income and core equity specialties that are available for its baseline 1% fee along with asset allocation and wealth management planning, said Maurer. The attractiveness of the in-house strategies is partly in the simplicity of the flat fee structure and the balanced portfolio approach.

"Some lessons I’ve taken away from broad open architecture platforms is that there are an awful lot of managers on them, and clients end up having multiple large-cap domestic and international managers, as well mid-cap and small-cap managers," Maurer said. "It's a fairly complex solution that’s right for some people, but not right for others.”

Evercore Wealth Management offers access to an external slate of managers. But using the firm's investing expertise is at the heart of Evercore's model, Maurer says, and it also is driving development of custom strategies for clients with common demands.