Investment counsellors, also known as portfolio managers, charge a fee based on a percentage of the assets under management, with larger accounts typically qualifying for lower fees. As a general rule, those who manage the assets in these firms undergo rigorous educational training and uphold the highest ethical standards. Portfolio Managers must, by law, act with a fiduciary duty to act in the best interest of the client as do those who have achieved the coveted Chartered Financial Analyst (CFA) designation. An Investment counsellor creates and manages a fully segregated and personalized account on the client’s behalf with the asset mix tailored to the client's financial goals, risk tolerance, income needs, tax or estate issues etc.