Introduction to Advisorsdocuments... · consulting services to non-profit clients We have been...
Transcript of Introduction to Advisorsdocuments... · consulting services to non-profit clients We have been...
One Hundred Northfield Drive, Windsor, CT 06095 Toll Free: 866.466.9412 www.fiallc.com
Introduction to Fiduciary Investment Advisors
Our Mission
Our mission is to provide customizedconsulting services to assist our clients in achieving their investment objectives while fulfilling their fiduciary obligations.
2
Who We AreFee-Only Fiduciary Advisor • Completely independent - zero
conflicts of interest
• No product sales or ancillarybusiness lines
Employee-Owned Firm• We provide an exceptional,
customized service experience
• 72 employees, all dedicated tothis work
Strategic AdviceFocused Expertise
99% Client Retention Rate*• Client satisfaction is the primary
focus of our firm
• Retention rate is the result ofthoughtful, customized consulting
Company Culture
• Experience and knowledge regardingchallenges faced by non-profit organizations
• Deep knowledge of appropriate assetallocation and spending policyimplementation
• Numerous “Best Places to Work”awards, both locally and nationally
• Focus on collaboration, consistency ofadvice, and continuity of service team
• Emphasis on community service
• Over 20 years of experienceconsulting to non-profit clients
• Advise on approximately $5 billionfor more than 85 Endowment andFoundation clients
*Since our inception, FIA has maintained a client retention rate of over 99% (excluding plan terminations, organization dissolution, and mergers & acquisitions), a testament, we believe, to the proactive and customized solutions we seek to deliver on behalf of our clients.
3
Non-Profit Focus
5.0BEndowment &
Foundation assets under advisement
23Years providing
consulting services to non-profit clients
We have been providing investment services and strategic guidance to non-profit clients since 1994 (andour first non-profit client remains a client today!).
We serve a number of religious organizations and have significant experience adhering to investmentrestrictions.
We have an internal Endowment & Foundation committee tasked with monitoring trends and bestpractices and driving implementation and process across our practice.
We have an internal ESG committee tasked with keeping abreast of trends in the marketplace andengaging with managers who provide various means of ESG investing.
150+Number of non-profit clients
we currently serve
4
Our Organization
Performance / Technology
Marc Ursin,Sr. Performance Analyst
David Fontaine,Sr. Performance Analyst
William Garcia,Performance Analyst
Patrick Chase, CIPM, PMP,Director, Technology & Performance Monitoring
Business Development & Marketing
Christian Coleman,Partner & Director,
Business Development & Marketing
Carrie Gallo,Marketing Associate
Kristen Klaus,Marketing Consultant
Client Analysts / Research Analysts
Maura Goulart, CFA,Director,
Client Services
Matt Kaminski, CFA,Partner & Director, Manager Research
Research Analysts:
Richard CareyPolina Crotty, CFP®
Oakley DuryeaChris Dziubasik
Matt FratiniAnne HaynesChris Ledwith
Katie Marino, AIF®
Director,Client Services
Senior Research Analysts:
Laura GineoRobert Lowry, CFASusan Woytowicz
Associate Research Analysts:
Zhomart DairovDan Duffy
Melissa DurkinGavin Johnson
Mike KopecDan Lojko
Demarco PalmerSapan Patel
Kyle ShermanPaige Thompson
Consultants
Jeff Capone,Partner & Sr. Consultant
Vincent Smith, AIF®,Partner & Sr. Consultant
Kevin O’Brien, CFA,Partner & Sr. Consultant
Tyler Polk, AIF®,Partner & Sr. Consultant
Mike Chase,Partner & Sr. Consultant
Devon Francis, CIMA®,Partner & Sr. Consultant
Leslie Whitney, AIF®,Senior Consultant
Peter Nadeau, ARPC,Senior Consultant
Operations & Client Services
Tracey Flynn,Director,
Client Services
Janet Ramos,Senior Client
Service Associate
Maggie Percival,Accounting Specialist
Chelsea Wrzesinski,Client Service Associate
Felicia Lastra,Client Service Associate
Mark Wetzel,President
Mike Goss,Executive
Vice President
Chris Kachmar, CFA,
Managing Partner, Chief Investment
Officer
Tony Tranghese, CFA,
Managing Partner & Senior
Consultant
Karen Paulson, CIMA®, PRP,
Managing Partner & Senior
Consultant
Ryan Gardner,Managing
Partner & Senior Consultant
Chris Rowlins, AIF®,
Managing Partner & Senior
Consultant
Maureen Cooper,
Chief Operating Officer
Jim O’Brien,Business Development
Associate
William Horobin,Technology Associate
Carol Morelli,Administrative Assistant
Andre Joyner,Marketing Associate
Gregory Adams, ChFC®
Consultant
Sarah Cowenhoven,Operations Analyst
Scott Boulton,Consultant &
Research Analyst
Andrea McAndrew, CFA, Consultant & Research Analyst
Dennis Scarpa, CFA, Consultant &
Research Analyst
Eileen Foley Allgrove, JD, MST, CFP®
Associate Director, Private Client Group
Andrew Salak,Associate Director,
Private Client Group
Joseph Diogostine,Client Service Associate
James Romano, CFA,
Executive Vice President
Carol McShera, Consultant &
Research Analyst
Cindy Vitek,Client Service Associate
Research Analysts:(cont.)
Sean McCafferyMatthew PranaitisMatt Smith, CFAKelly Spencer
Ahmad Nouman,Data & Performance
Analyst
Hannah Olson,Administrative Assistant
5
Your ConsultantDevon Francis, CIMA®
Devon is a Partner and Senior Consultant at Fiduciary Investment Advisors, LLC (FIA), where she works with avariety of endowment, foundation, and defined benefit clients. She serves on a number of internal committees atFIA, including the Endowment and Foundation Subcommittee, the ESG Subcommittee, the Defined BenefitSubcommittee, and the FIA Community Service Committee. Prior to joining FIA in 2006, Devon worked with thePRIME Asset Consulting Group at UBS Financial Services. She is a current member of the Investments & WealthInstitute (formerly IMCA) and holds the designation of Certified Investment Management Analyst, sponsored by theInvestments & Wealth Institute and taught in conjunction with The Wharton School, University of Pennsylvania.
Education:University of New Haven, MEdDuke University, BA
Outside Activities:Hartford Stage – Board of Directors, Executive Committee, Investment Committee, Finance CommitteeAurora Foundation – Grants CommitteeConnecticut Women’s Council – Member
Speaking Engagements & Publications:Speaking Engagement – 6th Annual New England Institutional Investor Forum (October 2018)Speaking Engagement – Vanguard Institutional Conference (May 2018)Speaking Engagement – Opal Endowment & Foundation Forum (November 2017)White Paper – ESG: A Brave New World of Investing (May 2016)White Paper – Board Governance – A Structured Framework (December 2014)White Paper – Corporate Pension Update (June 2014)White Paper – Maintaining a Long Term View in Endowment and Foundation Investing (May 2014)White Paper – Building a Better Investment Committee (July 2013)White Paper – Rethinking Endowment Spending Policies (May 2013)
Personal Interests:Reading, theater, running, flying trapeze (that’s not a joke)
6
FIA Consulting Services
Investment Policy/
Spending Policy
Asset Allocation
Investment ManagerSearch/
Selection
InvestmentPerformanceMonitoring
Fee Analysis &Negotiation
Peer Benchmarking
Fiduciary Governance
Operational Support
CTUCC Investment
Program
FIA believes that each client is unique and, as such, our solutions are customized to meet the specific goals and objectives of the CT Conference of UCC.
7
1st Quarter: Benchmarking Focus› Portfolio/Investment Review› Peer Benchmarking› Endowment/Foundation
Landscape Update› Fee Analysis› Ongoing Projects / Open
Discussion
2nd Quarter: Asset Allocation Focus› Portfolio/Investment Review› Asset Allocation Review› Investment Policy Review› Ongoing Projects / Open
Discussion
3rd Quarter: Investment Focus › Portfolio/Investment review› Portfolio Structure› Attribution› Manager Specific Topics /
Interviews› Ongoing Projects / Open
Discussion
4th Quarter: Institution Focus › Portfolio/Investment review› Update on the Institution /
Initiatives› Committee Best Practices› Spending Policy Review› Ongoing Projects / Open
Discussion
Fiduciary Governance Calendar
8
Tenets of FIA’s Portfolio Construction Philosophy
› Long term, not tactical
› Set realistic return expectations
› Establish ranges around targets
› Make proactive adjustments
› Revisit rebalancing regularly
Strategic Asset Allocation
› Market timing is difficult, if not impossible
› Disciplined, consistent exposure to markets should align with strategic objectives
› Any allocation to cash equivalents is determined by circumstances unique to the organization
Fully Invested Portfolios
› All asset classes are considered
› Global orientation
› Generally style & market cap neutral
› Employ multiple institutionally oriented firms
Diversified Portfolios
› Unique needs & circumstances of each client serve as the basis for recommendations
› Consider both indexing and “active” strategies where appropriate
› Fees always considered
Customized Solutions
9
Manager Research Overview
The Manager Research Group is responsible for
› Conducting research and due diligence on new investment managers, products and asset classes
› Monitoring currently utilized investment strategies on an ongoing basis › Supporting consultants by providing ongoing capital market intelligence› Assisting consultants and analysts with ad hoc client requests
Manager Research Team
Andrea McAndrew, CFA
Research Analyst14 years of experience
Oakley Duryea Chris DziubasikResearch Analyst
11 years of experience
Rob Lowry, CFASr. Research Analyst7 years of experience
Matt Kaminski, CFA Partner & Director,Manager Research
11 years of experience
Research Analyst16 years of experience
Matt Smith, CFAResearch Analyst
7 years of experience
The team works closely with the CIO, Chris Kachmar, CFA, and senior consultants, Tony Tranghese, CFA & Chris Rowlins.
Chris LedwithResearch Analyst
21 years of experience
Sean McCafferyResearch Analyst
1 year of experience
10
Manager Research Process Overview
Data Analytics & Idea Generation› Analysts use a variety of sources for idea generation and initial
analysis› Access to full spectrum of asset classes and institutional
quality managers› eVestment Alliance, Morningstar Direct, mPi Stylus› FIA Proprietary Database
Detailed Due Diligence› Quantitative analysis› Portfolio Manager Calls/Meetings› Onsite interviews with additional team members› Detailed Questionnaire
Manager Approval› Analysts present managers to FIA Investment
Committee for a ratings determination› Funds placed on Maintain are available for use
with clients
Ongoing Monitoring› Monthly performance monitoring and quarterly commentary
addressing performance and positioning› Ongoing calls/meetings› In depth review as needed› Quarterly status review and confirmation
11
Please remember that past performance may not be indicative of future results. Different types ofinvestments involve varying degrees of risk, and there can be no assurance that the future performance ofany specific investment, investment strategy, or product (including the investments and/or investmentstrategies recommended or undertaken by Fiduciary Investment Advisors, LLC), or any non-investmentrelated content, made reference to directly or indirectly in this presentation will be profitable, equal anycorresponding indicated historical performance level(s), be suitable for your portfolio or individual situation,or prove successful. Due to various factors, including changing market conditions and/or applicable laws, thecontent may no longer be reflective of current opinions or positions. Moreover, you should not assume thatany discussion or information contained in this presentation serves as the receipt of, or as a substitute for,personalized investment advice from Fiduciary Investment Advisors, LLC. Fiduciary Investment Advisors, LLCis neither a law firm nor a certified public accounting firm and no portion of the newsletter content should beconstrued as legal or accounting advice. A copy of the Fiduciary Investment Advisors, LLC’s current writtendisclosure statement discussing our advisory services and fees is available for review upon request.
12