How do I find the right portfolio manager?

Many banks are not only portfolio managers, but also structure their own financial products, such as investment funds or structured products. This leads to conflicts of interest. If banks invest their portfolio management clients’ funds in their own products, they profit twice over: They earn fees for managing the securities accounts as well as on the products themselves. Portfolios managed by banks therefore often contain a large number of proprietary products, which demonstrably reduces the returns generated within the portfolios.