vest

vest's longest-tenured managers do not have the same experience as teams at other firms. Specifically, average tenure within the firm is only four years, building concern in the group's ability to manage capital through a full market cycle effectively. Open-end and exchange-traded fund fees are a weakness at the firm, contributing negatively to the rating. On average, the firm charges fees on its funds that are in the second most-expensive quintile of category peers. With the current market environment of fee compression, this is cause for concern, as investors may flock to alternate asset managers over time to get a better deal. The firm's risk-adjusted performance compares similarly to competitors. Across all open-end and exchange-traded funds, the firm's average five-year Morningstar Rating is 3.5 stars, which is about standard.