This meeting provides an opportunity for our representatives to meet with portfolio managers and representatives from a variety of mutual fund companies. Also, our President, Mark GaNung, and our staff attorney, Jim Novak, use this meeting to shed some light on many of the new or changing issues that we face in our industry. This meeting typically will be held near our home office near the middle of the month. Allegheny Investments' payout is very competitve within our industry. The higher volume results in higher payouts, our representatives are in control of their compensation.
Product proliferation is one of the problems that is now plaguing our industry.
Currently there are over 10,000 mutual funds out there, and finding quality choices for your clients is no small task. At Allegheny, we believe in following an asset allocation approach to meet client needs. The Asset Management department headed by Jack Kraus, CFA has identified those portfolio managers across all asset classes that have consistently been at the top of their peer group. These recommended funds are reviewed and updated periodically to ensure that your customers money is being well attended to. Allegheny Investments has partnered with National Financial, a Fidelity Investments Company as our clearing firm.