Many portfolios poorly structured

The portfolios of many investors are poorly structured. Their holdings are often concentrated in assets that are located in their home country or offer too much exposure to fashionable sectors or assets. To blame your investment adviser for such deficiencies means that criticism is addressed to the wrong target. Any financial services firm should control the asset allocation and investment strategy that is executed in individual client portfolios and should not leave these all-important decisions to the whim of individual customer service employees.