They are paid to screen managers, to pick the best and to diversify clients' holdings—none of which they did properly in this case.
Improvements in products and the technology for their application also account for growth, along with a diversifying client base — a third of spa-goers are now men, and younger people are beginning to "buy into" skin care regimens, says Katie Armitage, president of Associated Skin Care Professionals, a trade group.
Diversified client base: This will reduce our dependency on one particular market.
THE company has also diversified its client base, decreasing its share of tech companies and adding health-oriented nonprofits like the Bill & Melinda Gates Foundation and the Robert Wood Johnson Foundation, and community-oriented projects like TEDxMileHigh, a TED spinoff for innovative ideas in the Denver region.
"It's another pricing arrangement that will allow the financial adviser to diversify their clients' portfolios in the proper funds at an appropriate expense ratio," he said.
The Chinese market is the obvious one - but in order to diversify its clients, the government is pursuing a plan to build a 1,000km (621-mile) rail link to Russia, where the coal can be sent along the Trans-Siberian railway to Far East ports, providing Mongolian coal with access to Japan, Korea and Taiwan.
Those who diversify their client base stand the best chance of surviving.
In recent years the Pattaya tourist industry has sought to diversify its client base.
West End "is diversifying its client risk, so that if Buffett leaves they still have investors," said Narayan Naik, the director of hedge fund research at the London Business School.
It would be great to see more "How to get the best work/life balance", or "How to build and diversify your client base" modules rather than focusing, primarily, on scaling up.
He made the decision several years ago to diversify the client base beyond just the United States and to target buyers in Japan and elsewhere, where profit margins are higher, but Valentine's Day is still his peak.
