Investopedia explains 'Investment Manager'
Investment managers can range in size from one- or two-person offices to large multi-disciplinary firms with offices in several countries. Fees charged by investment managers to their clients are generally based on a percentage of client assets under management (AUM). For example, an individual with a $5 million portfolio that is being handled by an investment manager who charges 1.5% annually would pay $75,000 in fees.
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