Regardless of the cost structure, the transfer of investment management margins to model portfolio managers could change the industry’s dynamics. It could also add significant value to an advisor’s practice. Transferring investment margins to advisors and other 3rd party managers is a significant development, but the potential to advance risk management is equally significant. Given the slowing recovery, the sovereign debt crisis, looming policy decisions, a lack of leadership, an unregulated derivatives market and unsolvable geopolitical challenges, the need to manage risk is unprecedented.