Aside from the overall view, the firm's portfolio managers have worked to align their interests with investors' by taking a personal stake and investing alongside them. Almost 33% of the firm’s assets are covered by invested managers. 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 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. Turnover among Miller Value portfolio management ranks has been low compared to other firms in the past five years. This stability on the personnel front boosts confidence in its staying power.
In an increasingly competitive industry, Miller Value falls behind on a number of key metrics, resulting in a Below Average Parent Pillar rating.