A G E N D A A Day in the Life: Investment Consultant April 27, 2018 Sheila Healy Berube, CFA, Former Senior Investment Consultant Teri Richardson, CFA, MBA, Senior Investment Consultant 1
A G E N D A 1 Introductions 2 Background & Career Path 3 Firm/Team Overview 4 A Day in the Life - Duties/Responsibilities of an Investment Consultant 5 Opportunities/Challenges 6 Skill Set 7 Q & A 2
B A C K G R O U N D & C A R E E R PAT H Sheila Healy Berube, CFA Teri Richardson, CFA, MBA Education Education • MBA, University of St. Thomas • MBA, Carlson School, University of Minnesota • BA, Marquette University, • BA, University of Minnesota, Mathematics English/Business Minor • CFA Charterholder • CFA Charterholder Work History Work History • NEPC, LLC • Advanced Capital Group • WLD, Ltd (Family Office) • State of MN • 3M Company • Northwest/Delta Airlines • Allina Health • Mercer • State of MN Volunteer Work/Professional Volunteer Work/Professional Development Development • CFA Society of Minnesota • CFA Society of Minnesota • Investment Committee Sr of St. Joseph • Advisory Board for Bethel Student of Carondelet Managed Investment Fund • Board Member, Campfire MN • Toastmasters • Planning Commissioner, City of Edina • Communications Lead, EHS Senior Party • Loppet Foundation Volunteer Ski Coach 3 2018
Firm Overview Sheila Healy Berube, CFA Teri Richardson, CFA NEPC, LLC Advanced Capital Group • Registered Investment Advisor based in Boston • Registered Investment Advisor based in Minneapolis • 275 employees; partnership structure • 31 employees • $1+ billion assets under advisement • $16 billion assets under advisement • Client type: retirement plans, foundation & • Client type: retirement plans, trust, endowment, endowment, insurance companies, health care, insurance companies, individual private wealth, public funds, Taft Hartley funds • Four Lines of Business • Retainer and Outsourced CIO 1. Institutional Investment Consulting • Over 350 clients 2. Institutional Investment Management 3. Benefits and Risk Consulting 4. Participant Financial Wellness Services Institutional Investment Consulting Team Institutional Investment Consulting Team • 60+ dedicated research staff; • Eight consultants and analysts • Offices in Boston, Atlanta, Charlotte, • Four Relationship Managers Detroit, Las Vegas, Portland, San Francisco 4
A DAY IN THE LIFE - D U T I E S & R E S P O N S I B I L I T I E S • Client Onboarding and Maintenance 1. Investment Policy Review, Update, Development 2. Asset Allocation Review and Update 3. Manager Line-up Review 4. Vendor Searches 5. Periodic Client Investment Review Meetings • Research and Special Projects 1. Manager research and due diligence 2. Product Research 3. Economic and Asset Class Research 4. Fiduciary Training 5. Special Projects 6. Investment Commentary 7. Plan Design • New Business Development 1. Networking 2. Responding to RFPs 3. Finalist Presentations 5
Opportunities/Challenges Opportunities Challenges Meet with smart, interesting people Demands on time Constant learning Information overload Building mutually respectful relationships Difficult clients Help organizations fulfill their mission and Delivering tough messages goals Direct bottom-line impact Extra time Satisfaction of seeing your Do not control committee decisions recommendations implemented Travel Travel 6
S K I L L S R E Q U I R E D • High ethical standards • Intellectually curious • Think on both macro and micro levels Consulting is a great way to use the skills • Strong writing and verbal and knowledge communication skills acquired via the CFA charter program • Ability to build rapport quickly • Organization and attention to detail • Prioritization and time management • Expert-level knowledge of investments • Qualitative and quantitative analysis 7
Questions? DOFU 2-2018 432062 8
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