The article discusses how investment firms are structured and the responsibilities of investment managers. Funds can be allocated through collective investment schemes or managed portfolios, each with different processes. Fund managers are responsible for finding the best investments, while others monitor the funds. Different investment vehicles like OEICs, SICAVs, mutual funds, and investment trusts are commonly used. When managing a portfolio for a customer, it's crucial for the investment manager to understand the stakeholder's objectives. Some firms require justification for every trade to ensure funds are managed carefully.