A new frontier

Financial planners across the United States are being targeted as the next frontier for the hedge fund industry. With the total number of planners and brokerage reps reaching close to 250,000, it is difficult to argue against the choice of savvy marketing efforts to try and make use of this relatively untapped distribution channel. Advisers, after all, represent the most direct path to an eager base of freshly minted millionaires.

One obvious snag, however, is the advisers themselves. Many of the