Services

Fees

Our fees are “hard dollar.” The firm does not receive any revenues from other sources nor any fees from other parties, including “soft dollar” compensation for research. The firm does not receive any compensation related to brokerage, referral, or placement fees. In addition, the firm does not receive any compensation from investment managers nor accept any fees from investment managers to attend an educational conference sponsored by the firm. 

Our client fees may be fixed or floating and include travel expenses to attend four quarterly meetings per year.

Our services can be custom-tailored to suit a client’s specific needs. The following services are appropriate for ERISA clients:

Full Fiduciary Services (OCIO)

As an OCIO (known in the industry as Outsourced Chief Investment Officer), our firm will design the Investment Policy and Asset Allocation Policy to be adopted by the Trustees. As OCIO, we will have discretion to implement the Policy. These discretionary duties include manager selection, custodian selection, commission recapture selection, and transition management selection. As OCIO, we will also implement rebalancing within asset allocation Investment Policy ranges. The Trustees will evaluate the performance of the OCIO with quarterly performance reports prepared by an independent third party, using comparative benchmarks and peer universes.   Superior risk-adjusted performance (net of investment fees) in consideration of the appropriate peer universe established by the Investment Policy is the goal of OCIO performance. We believe the OCIO service offers the greatest value and the highest level of fiduciary acceptance of the services offered. 

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Full Fiduciary Services (OCIO)

As an OCIO (known in the industry as Outsourced Chief Investment Officer), our firm will design the Investment Policy and Asset Allocation Policy to be adopted by the Trustees. As OCIO, we will have discretion to implement the Policy. These discretionary duties include manager selection, custodian selection, commission recapture selection, and transition management selection. As OCIO, we will also implement rebalancing within asset allocation Investment Policy ranges.

The Trustees will evaluate the performance of the OCIO with quarterly performance reports prepared by an independent third party, using comparative benchmarks and peer universes.

Superior risk-adjusted performance (net of investment fees) in consideration of the appropriate peer universe established by the Investment Policy is the goal of OCIO performance.

We believe the OCIO service offers the greatest value and the highest level of fiduciary acceptance of the services offered.

Trustee Appointed Fiduciary Services (TAF)

As Trustee Appointed Fiduciary (TAF), our firm will design the Investment Policy and Asset Allocation Policy to be adopted by the Trustees and assist the Trustees with the implementation of the Policy.  These duties include manager selection, custodian selection, commission recapture selection, and transition management selection.  As TAF we will also recommend rebalancing the Fund’s asset allocation as needed. The primary goal of TAF is to provide sufficient liquidity to pay benefits and to achieve performance in excess of the actuarial assumed rate of return or similar return without excessive risk. Interviews of prospective investment managers by the Board of Trustees is customary for this level of service. The Trustees will evaluate the performance of the TAF with quarterly performance reports using comparative benchmarks and peer universes.  We believe the TAF service offers the Trustees a higher level of discretion and interaction with the management of the Plan. 

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Trustee Appointed Fiduciary Services (TAF)

As Trustee Appointed Fiduciary (TAF), our firm will design the Investment Policy and Asset Allocation Policy to be adopted by the Trustees and assist the Trustees with the implementation of the Policy.  These duties include manager selection, custodian selection, commission recapture selection, and transition management selection.  As TAF we will also recommend rebalancing the Fund’s asset allocation as needed.

The primary goal of TAF is to provide sufficient liquidity to pay benefits and to achieve performance in excess of the actuarial assumed rate of return or similar return without excessive risk.

Interviews of prospective investment managers by the Board of Trustees is customary for this level of service.

The Trustees will evaluate the performance of the TAF with quarterly performance reports using comparative benchmarks and peer universes.

We believe the TAF service offers the Trustees a higher level of discretion and interaction with the management of the Plan.

Investment Oversight Consultant Services (IOC)

As IOC, our firm will evaluate the performance of the Plan’s Investment Consultant relative to the requirements of the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and the Plan’s Investment Policy. We believe the IOC service offers the Trustees a highly desirable additional level of fiduciary protection and oversight regarding the activities of the Plan’s Investment Consultant, typically performing as OCIO.

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Investment Oversight Consultant Services (IOC)

As IOC, our firm will evaluate the performance of the Plan’s Investment Consultant relative to the requirements of the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and the Plan’s Investment Policy.

We believe the IOC service offers the Trustees a highly desirable additional level of fiduciary protection and oversight regarding the activities of the Plan’s Investment Consultant, typically performing as OCIO.