Fees
“An educated consumer is our best customer.” — Sy Syms
Long Cast Advisers is the food truck version of a hedge fund.
The low administrative expense of separately managed accounts enables Long Cast Advisers to offer discounted fees and full account transparency.
As a result, accredited clients can choose either an AUM fee / OR / a performance fee. (By rule, non-accredited clients are limited to AUM fees.)
I expect Long Cast Advisers to eventually convert to a partnership, just as a successful food truck may eventually convert to a full fledged restaurant.
Initial clients who helped grow the business will maintain their low fees on pre-partnership capital.