Finding its own way


Independent research overcomes the obstacles to become a hedge fund favorite

By Julie Dalla-Costa

When Detwiler, Mitchell & Co. wanted to reinvent itself as an independent research boutique five years ago, the financial heft of hedge funds made them a highly desired clientele. Hedge funds often trade frequently and so have large commissions, giving them soft dollars to disburse. The big players also have plenty of cold hard cash to throw around. Moreover, the industry’s sophisticated analysis dovetails perfectly with Detwiler’s product. “Hedge funds were the most aligned with the type of work that we were doing, as they were looking