Investment Consulting Archives — Page 24 of 37

April 2nd Update: A Quarter That Will Go Down in History

With March officially in the books, the following is a brief summary of what has transpired in the capital markets since our update early last week. As expected, the coronavirus has exploded across the U.S. and continued its spread across Europe as well. At the time of writing, the number of cases is approaching 1 million worldwide and has exceeded 200,000 here in the United States. Stocks finished their worst quarter ever on Tuesday and volatility continues to haunt the markets. While the worst may still not yet be behind us, we hope that the growing number of shelter in place edicts and more consistent social distancing may help to stem the coronavirus outbreak across the world. Please note that all return data in the following discussion utilizes the quarter end date of March 31st, 2020.

Read > April 2nd Update: A Quarter That Will Go Down in History

The opinions expressed herein are those of Marquette Associates, Inc. (“Marquette”), and are subject to change without notice. This material is not financial advice or an offer to purchase or sell any product. Marquette reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs.

Marquette Associates Continues to Expand Wealth Consulting Capabilities

CHICAGO, IL, February 13, 2019 – Marquette Associates, Inc. today announced plans to expand its wealth consulting offerings with an ownership interest in Milwaukee-based investment adviser, Operose Advisors LLC.

“Providing a high net worth solution built upon our institutional approach has been a key focus of our long-term strategy over the last number of years,” said Brian Wrubel, President & CEO of Marquette. “Operose shares our culture of client service and our investment philosophy. This partnership creates an integrated solution for private clients with assets ranging between $1-25 million and small market investment advisory opportunities.”

Operose Advisors provides investment advisory and wealth management services to individuals, families, trusts, and closely-held businesses. By partnering with Operose, Marquette will establish its fifth office and continue to expand its presence in Wisconsin. Managing Partner Nicholas Bauer, CFA, leads Operose Advisors and has 20 years of investment experience. He and his team in Milwaukee will ensure continuity of service, while leveraging Marquette’s institutional model and benefiting from added resources.

Marquette also welcomed Aimee O’Connor, CFP® as a senior vice president in January to continue expanding the firm’s ultra-high net worth/family office capabilities based in Chicago. As a senior investment consultant, Aimee is involved in the daily management and administration of Marquette’s private client relationships. She has 14 years of investment experience including work as an independent consultant working with RIAs, family offices, and high net worth individuals. Previously, she was the co-director of consulting and senior consultant at DiMeo Schneider & Associates.

“We are excited at the opportunity to add Aimee to our team. Her considerable background working with private clients is a great fit as we steadily grow this part of our business,” said Wrubel. “The partnership with Operose, and the addition of Aimee, uniquely positions Marquette to offer a cost-effective, institutional approach for private families of all sizes.”

About Operose Advisors
Operose Advisors LLC is an investment adviser registered with the State of Wisconsin. We are dedicated to growing the wealth, knowledge and professional networks of the clients we serve by employing an institutional approach to wealth management.

About Marquette Associates
Marquette Associates is a Chicago-based, independent investment consulting firm that guides institutional investment programs with a focused client service approach and careful research. Marquette has served a single mission since 1986 – enable institutions to be more effective investment stewards. Marquette places client fiduciary duties first through complete independence and 100% employee ownership. The firm currently serves more than 385 clients with over $182 billion in assets – from public funds, unions and corporations to endowments, foundations and other non-profits. For more information, please visit www.marquetteassociates.com.

Contact:
Brian M. Wrubel, 312.527.5500
bwrubel@marquetteassociates.com

Print Update

Marquette Associates Ownership Update

CHICAGO, IL, February 8, 2019 – Marquette Associates, Inc. today announced an update to the firm’s succession plan in a continuing effort to strengthen the firm’s stability and ongoing growth. The three largest shareholders will sell 30% of their ownership to the existing shareholder base. The current leadership at Marquette will remain in place – there are no planned retirements and the firm will remain under the leadership of President & CEO Brian Wrubel for the foreseeable future.

“Marquette has always been defined by our people, our client service and our independence. We have a talented group of investment professionals that are assuming more active leadership responsibilities and as an employee-owned firm, we are accountable to our clients and to each other and have worked since our founding in 1986 to grow the firm responsibly and with our clients’ interests at the forefront,” said Wrubel. “This restructuring acknowledges our commitment to Marquette’s next generation of leaders and is an important step for Marquette in continuing to broaden and diversify the firm’s ownership base.”

With the ambiguity that has become common within the investment consulting industry surrounding consolidation and outside capital, Marquette remains committed to independent ownership and transparency for its clients. The firm strongly believes that the talent, discipline, and care demonstrated by its managing partners will secure its position as one of the leading employee-owned investment consulting firms for years to come.

Contact:
Brian M. Wrubel, 312.527.5500
bwrubel@marquetteassociates.com

Print Update

The Coronavirus Aid, Relief, and Economic Security (CARES) Act

In the early hours of March 25th, the Senate and the Trump administration reached a deal on the $2 trillion stimulus package aimed at cushioning the fall for U.S. businesses and consumers in the wake of the coronavirus pandemic. The bill was approved by the Senate late on March 25th, passed through the House on March 27th, and was signed by Trump the afternoon of March 27th. The size of the package is over 9% of the U.S. GDP and is greater than the three major relief packages passed during the 2008 crisis combined.

This legislative update summarizes the key elements of the CARES Act and concludes with an assessment of the expected impact of this stimulus package.

Read > The Coronavirus Aid, Relief, and Economic Security (CARES) Act

The opinions expressed herein are those of Marquette Associates, Inc. (“Marquette”), and are subject to change without notice. This material is not financial advice or an offer to purchase or sell any product. Marquette reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs.

Marquette’s Ongoing Commitment to Building a Diverse Team and Industry Leaders

With each passing year, we continue to see compelling and thoughtful empirical research that highlights the strong case for all companies to embrace a more diverse and inclusive workforce. Brian Wrubel, President & CEO, addresses Marquette Associates ongoing commitment to building a diverse team.

Read the full letter here.

Jeremy Zirin Speaking at NAREIM Capital Raising & Investor Relations Meeting 12/5

On Wednesday, December 5, Jeremy Zirin, CAIA will be speaking at the 2018 National Association of Real Estate Investment Manager’s (NAREIM) Capital Raising & Investor Relations Meeting in Chicago, Illinois.

As a senior research analyst in real estate, Jeremy will be participating in an interactive discussion regarding the challenges facing institutional investors as they deploy allocations and construct portfolios in the commercial real estate market. The discussion seeks to illustrate the panelists’ outlook for the real estate asset class and how each responds to the need to diversify investor bases.

For more information, please visit the event page.

Nat Kellogg Speaking at SBAI Institutional Investor Roundtable 11/28

On Wednesday, November 28, Nat Kellogg, CFA, will be speaking at the Standards Board for Alternative Investments (SBAI) Institutional Investor Roundtable in Chicago.

Nat will be joining the “Allocator Panel,” featuring senior representatives from various investment managers, funds, and consultants. The discussion will focus on two main topics:

Allocation priorities

Alpha vs. beta
Search for Alpha – where next?
Alignment and fees – what is the state of play?

Governance of pension funds – outsourcing versus internalising – an eternal circle?

Where to draw the line?
Benchmarking of internal capabilities
How much experience to retain?
Does size matter?
Implications for alternatives allocation

The SBAI brings together managers, investors and other industry parties to tackle topical issues through practical case studies and interactive discussions, with the belief that responsible standards of practice strengthen the alternative investment industry for the benefit of both investors and managers.

For more information, please visit the SBAI events page.

Marquette Featured in Diverse Manager Search Article

On September 11, Marquette investment consultant Kweku Obed was quoted in a FundFire article on diverse managers and consultants adopting an NFL-style “Rooney Rule” for manager searches to help promote diversity in institutional investment portfolios. The NFL’s “Rooney Rule” is named after Pittsburgh Steelers owner Dan Rooney, and requires teams to interview minority candidates for coaching positions. Marquette will include at least one diversity candidate in every traditional equity and fixed income manager search that meets client investment objectives, minimum investment and vehicle requirements.

Marquette has worked with diverse managers for decades, with increasing focus over the past 10 years. Last year alone, Marquette clients invested over $500 million with diverse managers that were included in searches. Since 2012, Marquette has also requested that all investment managers disclose ownership composition as part of the manager search process. This information is included in Marquette manager search materials for clients.

“What we wanted to do is just reconfirm to the marketplace what we’ve already been doing and just a way to highlight Marquette’s role,” Kweku said. “Unfortunately, in the industry, there’s this notion that you’re giving up quality and ability to do well if you go with a diverse manager. With diverse managers, we’re looking at the best in class and we believe they have the ability to do just as well as other managers. As fiduciaries it’s our job to hit target rates of returns and do it in a risk-controlled manner.”

Approaches to including diverse managers in the search process vary widely among investment consulting firms. In contrast to another firm mentioned in the article, Marquette does not give bonuses to consultants based on interaction with diverse managers. The firm also does not have a separate diverse manager search committee.

“If you ask anyone in the industry and any manager, all they are looking to do is level the playing field,” Kweku said, making the point that a separate committee implies that these managers are not being viewed equally. Marquette’s investment committee reviews and compares managers relative to other managers. A list of the largest diverse investment managers for various asset classes is also published on a regular basis to keep Marquette consultants and clients informed of diversity opportunities. The Marquette research team will not only look at quant-heavy factors like returns, track records and standard deviation, but also the manager’s philosophy. Marquette has an open-door policy with diverse managers and hosts diverse manager events throughout the year, with the next one taking place either at the end of this year or early 2019.

FundFire has featured Marquette expertise on diverse and emerging manager search in several articles recently, including an article in May on an emerging managers merger and an August 2017 article on the increasing use of emerging managers by endowments and foundations.

The July 2017 Investment Perspectives newsletter, Don’t You Know, We’re Talking About An Evolution?, contributed to the institutional investor community conversation on the measurable benefits of incorporating diverse investment firms by exploring solutions to top challenges.

To read the article, visit the FundFire website (subscription required).

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