Welch Hornsby has assisted institutions for more than 25 years in the design, supervision and implementation of their investment programs. Our experience covers private foundations, hospital foundations, university endowments, corporate retirement plans and municipal retirement systems. Size is not a primary factor in our Institutional Client Profile, having worked with private foundations with less than $1 million in assets to retirement systems in excess of $300 million in assets. Service is the primary factor in our Institutional Client Profile, believing we can add the most value to those Institutions with minimal staff and/or high board turnover where we can act as an outsourced CIO, bringing a level of leadership, expertise and stability to the investment program.
From an investment perspective, the transition process would begin with Welch Hornsby’s Investment Engagement Agreement. Next, we would like to meet with the individuals (as a group and individually if possible) responsible for overseeing the investment program to better understand the goals, objectives, liquidity needs, risk tolerances, investment experience, and definitions of success in order to prepare/update the Investment Policy Statement. Once the IPS is complete, a review of the existing portfolio is performed and adjustments to the portfolio are recommended/implemented. Outside of the investments, the transition would be dependent on whether any changes were necessary to current service providers – directed trustee, custodian, banking relationship. Welch Hornsby can work with nearly any directed trustee, custodian or other service provider but will assist in any transition should the Client decide a change is required.
We believe a successful investment program must begin with a sound Investment Policy, and we will assist the Client in drafting/updating this policy. We believe the two most important characteristics of an investment policy are that it is both customized and dynamic. Far too often, a set of investment policies are adopted that fail to address the specific needs of the entity, implementing portfolios that may or may not address unique needs and lack the flexibility to adapt to changing market conditions. We believe an investment policy must clearly outline the goals and objectives of the portfolio, define the roles of the participants and define “success” at both the portfolio and manager level.
Welch Hornsby does not provide custodial services for client portfolios. We would assist the Client in identifying a custodian or can work with an existing custodian.
We do not accept soft dollars, nor do we accept any compensation from any source other than the asset-based fees paid directly by our clients.
The only people that pay us are our clients. We believe this allows us to sit on your side of the table. No products to sell or outside influences to cloud our advice to you. Our fees are based on the level of assets we manage, and decline as a percentage of assets the more we manage on your behalf.
Welch Hornsby, Inc. is an independent, employee-owned firm. There are no parent companies, subsidiaries, or affiliates.
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