Some Consultants Paid Back Their PPP Loan. Others Refuse to Talk About It

By Aziza Kasumov December 17, 2020

“We still don’t see a problem with investment consultants or OCIOs receiving benefits from the PPP, the amount of which would pale in comparison with the long-term amounts of income tax the government ultimately receives from their activities,” Chris Cutler, founder of search firm Manager Analysis Services, writes in an email. He added that the idea that the asset management industry, outside of alternative strategies, is “exceptionally profitable” is a misconception, and that his firm would “rather see OCIOs retain the PPP funds and invest in their personnel than pay back the loans.”