Some CornerStone clients invest entirely with external investment managers directly and investments are held in the name of the client. Other clients invest in a combination of CornerStone-managed asset class commingled fund-of-funds and directly with external investment managers. We invest client portfolios and the CornerStone-managed fund-of-funds with third-party investment managers only. CornerStone does not receive any form of compensation from these third-party external investment managers.