MM: We believe that the most important return the investor will get is the one they get net of fees, taxes and inflation. When it comes to fees, we believe the traditional asset classes of fixed income and equities are hard to pay a third-party manager and generate a rate of return at a fair fee and net of the advisor’s fee that leads to any kind of consistent outperformance. So, we manage most of our fixed-income and equity assets in-house.We have a number of relationships that are north of $100 million. O ...