Who Needs Asset Management?

You would probably think it unfair to compare the much vaunted asset management industry with the inside of a grubby New York taxicab.

But Angello A Calvello’s contrasting experience of a ride in an Uber ride-sharing car service versus that in a New York taxi got him thinking about industry disruption and its power to unseat providers that do not give customers the respect they deserve.

“It’s a business (Uber) that successfully took on an entrenched, monopolistic area populated with dissatisfied customers and offered a viable, prudent alternative, effectively disrupting the conventional taxi business,” says Calvello in his article “Asset Management Without Asset Managers” published...