adam 

You state, "For example, growth has outperformed value to start this year by a wide margin. Nor surprisingly, investors are switching their value funds over to growth. Arguably, they should be doing the opposite and take profits on their growth funds and rotate to a short-term under-performing value fund with a PM with a good long-term track record."

Nobody disputes this, but the point is your money manager should be encouraging this if this is your chosen investing style. 

All too often, once your money manager has your money, you never hear from them for months if not years. 

That is why I left my manager. Like Sandia said, I stayed engaged in the process and my manager didn't. It was very difficult for me to even talk to him. So he got turfed and I now DIY.