Managed accounts pay advisory fees which include management and incentive fees, whereas funds using profit allocation clauses only pay management fees.

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Investment managers can only use profit allocation with investment funds and not on separately managed accounts, because only partners can share special allocations of underlying income.

FORBES: New Tax Law Strokes Hedge Fund Managers

Should every investment manager be allowed to contribute their profit-allocation (performance compensation) to an IRA?

FORBES: Mitt Romney Is Hardly A Pig When It Comes To Tax Deductions

While past performance cannot guarantee future results, and asset allocation cannot ensure a profit or protect against a loss, applying a historical perspective and maintaining an appropriate strategic asset allocation can help provide comfort and direction to investors during periods of great volatility.

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Asset allocation does not ensure a profit or protect against a loss.

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Horowitz elaborates that profits in the education sector can be expected to promote competition and innovation that lead to an increase in the quality of educational provision, better value for the customer, and a more efficient allocation of resources, a point that CCAP elaborated on it is 2010 study, For-Profit Higher Education: Growth, Innovation and Regulation.

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