Bason Asset Management was born out of a conversation that occurred early on in my career. I was sitting in the office of a colleague reviewing a client’s portfolio when the topic of the client’s fee arose.
“Do you think,” my colleague asked me, “that we do $30,000 worth of work for [client]?”
“Of course not,” I immediately responded.
Even then, very young in my career, I recognized that something was amiss. Now I will not begrudge anyone making a living, nor disallow the success of a hardworking entrepreneur. But there comes a point, without question, where fees become excessive. This is why we have abandoned the percentage-of-assets compensation model for a more straightforward annual retainer fee. It is not difficult for us to describe, in detail, the services provided for our $5,100 annual fee. You can read more about these services here.
“Bason” is an (obsolete) English word referring to the weigh pan of a balance scale. We chose the name to evoke a sense of fairness and equity that we feel reflects our business model.