Abstract:
The Mutual form of ownership structure is most often associated with life insurance companies or small community banks where the customers of such institutions are also the entity’s owners. Over the past number of decades, many mutual firms have converted to more typical corporate structures (more than 200 life insurance companies alone). It is our belief that plan sponsors have the clout to take the Asset Management industry in the opposite direction, moving ownership from the private hands of their managements into the private hands of its customers – and in the process benefiting both parties.