What the hell is a boutique money manger?

While on a recent boat trip with friends, I was discussing the joy of finding some new boutique money mangers.

“What the hell is a boutique money manager”, asked my friend. I had never really had to explain it before; it was just an innate style that my firm had come to appreciate.

I took a sip of my Harpoon Ale, and said, “Here’s what its not: it’s not Fidelity, Federated or MassMutual. It’s not a company with a fund for every flavor under the sun. And, it’s never located on Wall Street. Boutique managers live off the beaten path. They have uncanny methods for managing money. They are disciplined and patient. They don’t rely on hunches, but stick to criteria. Most importantly, their performance is excellent and consistent”.

Hope that answers your question.