Problem:
If one decides to hedge, when would one manage the hedging in-house, and when would one agree to the higher fees to have the bank manage the hedging?
Interesting question! How this would be done depends on several factors. The first is how much do you plan to spend? What is the risk/return ratio of it? What is the predicted future value of the hedge? How's the company's or personal finance balance sheets? What fees are there (both from the hedge and from the bank)? How diversified are you? What are you or your company's risk adversity level? What happens if you don't hedge? These questions are prudent when deciding how to invest.