Continuing on the manager selection topic, there was another presentation by Richard Schaffer, CFA, of Chartwell Consulting LLC and Nathan Sonnenberg, CFA, CAIA, of Fortigent. Both firms provide investment advice to family offices, endowments and foundations and high net worth investors. A slice of the buy-side commonly referred to as private wealth / mini-institutional investors. The process is similar to the institutional side discussed earlier. Both firms are looking to construct a portfolio of managers that will provide the best returns with low volatility. I will highlight the differences:
- Additional attributes of managers
- Success in a variety of market cycles
- Reasonable fees
- Tax efficient
- Manager introduction for private wealth is done through networking and industry conferences
- Close monitoring of trades for separate managed accounts
Schaffer is the Director of Research / Senior Partner at Chartwell where one of his duties is investment manager search and selection. Sonnenberg is a Managing Director in charge of asset allocation and risk management. He oversees equity manager search and selection.
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