While performing the functional Jobs is the bare minimum requirement for a Money Manager, and special purpose Jobs target specific customers, Jobs at the emotional, experiential and social level create a deep connection with clients and lead to “sticky” relationships. The ability to do these Jobs well marks those firms which are likely to stay in business for the long-term. According to Amanda Tepper, CEO of Chestnut Advisory Group: “contrary to conventional wisdom, investment performance alone does not drive asset flows. While there is a clear relationship between the two, investment performance accounts for only about 15% of the reason for placing money with managers. We found correlations between trailing three-year returns (the primary metric most institutional investors follow) and subsequent one-year net capital inflows ranging from only 0.24 among small and mid-cap equity managers to just 0.04 for Global Fixed Income managers. ”