FYI: John's acquaintance Ted Aronson takes a different approach to investment-management pricing. Clients of Ted's institutional money-management firm, AJO Partners (where Ted is the "A"), may select a standard management fee for their accounts, or they may modify that flat fee by adding performance-based fees.
Putting numbers to the words: A client placing $250 million in the company's Large Cap Absolute Value strategy could select among the following pricing options:
Regards,
Ted
https://www.morningstar.com/articles/889886/give-performance-fees-a-chance.html
