A small firm competes with giants by offering direct CEO access and personalized service instead of matching low rates. Larger competitors might undercut by 1% to 1.5%, but they can't build the same client trust or loyalty over time.
How are you guys competing against these guys that have the deep pockets that are driving rates down? What are some of the strategies you're using against, like, you know, these big players of the world that just get super cheap rates?
It's all relationship-based. So we build a relationship that says rates aren't the issue. Sure, you can get a cheaper rate over here, 1%, 1.5%, but you can't get the service. And one of the things that I think is a blessing for us is we've stayed small enough that you still get to talk to the CEO and you can't talk to the CEO at BlackRock, can't talk to the CEO at Blackstone. And so we don't try to do $200 $100 million a month. We try to do value, right? And take care of the clients that have made us who we are. We take care of you guys. If you've been with me through the thick and thin, even though our rates have gone up, our service may have declined a little, but you never lost that loyalty. Now we're paying it back to you.
