Daniel Stern, a former senior manager at Morgan Stanley and member of the Chicago Board of Trade, has opened an investment advisory firm cat...

Daniel Stern, a former senior manager at Morgan Stanley and member of the Chicago Board of Trade, has opened an investment advisory firm catering to high net worth individuals in the US. Stern Investment Advisors will invest in products from stocks and bonds to managed futures and hedge funds. “I'm the buffer between my clients' two emotions of fear and greed,” Mr Stern said on the launch of his new venture. Mr Stern said the firm has already attracted $20 million under management. He added that his fees range from 0.7 per cent for fixed-income accounts to 1.5 per cent for equity accounts. The firm hopes to attract money from Chicago traders and professional athletes, according to Mr Stern. His father, Lee Stern, also a well-known commodities dealer in Chicago, has a minority stake in the city’s baseball team, the White Sox.