An EAM (External Asset Manager) is an independent advisor. They offer highly personalized client service. They charge a fee for advisory/management services. In addition, they do not participate in retrocession fees, which prevents conflicts of interest. These are advantages of an EAM, but not necessarily disadvantages. If you have concerns about the quality of service, you may want to consider an independent asset manager.
EAMs are independent advisors
Unlike banks and other investment firms, EAMs are not affiliated with any one custodian. Their independence allows them to be flexible and adapt to changing custodian requirements. They may also offer their own products.