Tag: Endowment

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Episode 68 – Quarterly Quick Take: Prepare for 2024 and Beyond with Brad Long

Episode 68 – Quarterly Quick Take: Prepare for 2024 and Beyond with Brad Long

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In a landscape marked by unpredictability and complex market dynamics, investors need to understand the key driving factors and how they may impact portfolio construction.

Tune in as Bob DiMeo and Devon Francis join Brad Long, CFA®, Chief Investment Officer at Fiducient Advisors, to dissect the pivotal themes that shaped 2023 and offer a forward-looking perspective into 2024 and beyond.

You’ll discover:

  • Three Themes expected to impact investors in 2024
  • Strategic considerations for investors in light of the current interest rate environment
  • The importance of thoughtful diversification (including private sectors, small-cap, and international markets)
  • Insights on the “Magnificent 7” stocks and concentrated market leadership (risk)
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Brad Long | 2024 Outlook – Prepare not Predict | Other Insights by Fiducient Advisors (Research, Blogs, Podcasts)

About Our Guest:

Brad joined Fiducient Advisors in 2012. As Fiducient Advisors’ Chief Investment Officer, Brad leads the firm’s investment strategy and research efforts. He is chair of the firm’s Investment Committee and a member of the firm’s Discretionary Committee, Research Forum, Capital Markets Team, and Mission-Aligned Investing Committee.

Prior to joining the firm, Brad worked in various research capacities at Citigroup and Wells Fargo in New York. He received a BA in Finance and Minor in Economics from The University of Colorado and is a CFA® charterholder and member of the CFA Society of Chicago and CFA Institute. Additionally, he is active with Greenhouse Scholars, a nonprofit providing financial and personal support to under-resourced college students. In his free time, Brad loves cooking and spending time with his wife and young sons.

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Episode 67 – Improving Performance and Profitability for Healthcare Organizations with Kate Guelich

Episode 67 – Improving Performance and Profitability for Healthcare Organizations with Kate Guelich

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Many hospitals and healthcare organizations continue to face financial instability and margin pressures that have been exacerbated by the lingering effects of the pandemic. 

Join Bob DiMeo and Devon Francis as they meet with Kate Guelich, CEO of Kaufman Hall, a renowned management consulting firm specializing in healthcare. They explore strategies to tackle the multifaceted challenges by enhancing performance, efficiency, and cost structures.

You’ll discover:

  • The need for hospital systems to understand cost structure, manage operations, and adapt to consumer preferences
  • The dispersion between large, urban systems and smaller, more rural systems
  • Key trends from Kaufman Hall’s 2023 research reports
  • Kate’s suggestions to healthcare leaders (and other nonprofits) to thrive going forward
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Kate Guelich | Kaufman Hall on LinkedIn | Kaufman Hall Website | National Hospital Flash Report | 2023 State of Healthcare Performance Improvement Report | Other Insights by Fiducient Advisors (Research, Blogs, Podcasts)

About Our Guest:

Kate Guelich is a Managing Director and Chief Executive Officer with Kaufman Hall. She is responsible for guiding Kaufman Hall on its strategic growth trajectory, with a keen focus on delivering industry-leading services and solutions to ensure the continued success of the company’s clients and delivering a high level of customer service. Before being named CEO, Kate served as Managing Director and President of Management Consulting for Kaufman Hall. She is also a member of Kaufman Hall’s Board of Directors. Kate, who has expertly advised senior healthcare leaders for more than 20 years on a wide range of topics, previously served as managing director of Kaufman Hall’s Strategic Financial Planning practice. Throughout her tenure with Kaufman Hall, Kate has also played a leading role in the firm’s Women in Healthcare Leadership efforts.

Kate has authored numerous publications on key healthcare topics and regularly speaks to leading national healthcare industry groups. Before joining Kaufman Hall, Kate was a Senior Consultant with Cap Gemini Ernst & Young’s Healthcare Strategy and Transformation group. Kate holds an MBA from the University of Chicago.

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Episode 66 – From Overwhelmed to Empowered: How to Navigate ESG and Mission-Aligned Investing with Sarah Hinman

Episode 66 – From Overwhelmed to Empowered: How to Navigate ESG and Mission-Aligned Investing with Sarah Hinman

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Do you intend to incorporate ESG investing into your portfolio but don’t know where to start?

As reporting standards, disclosure requirements, and available data continue to evolve, it can be overwhelming for investors to navigate this ever-changing landscape!

In this episode, Bob DiMeo and Devon Francis speak with Sarah Hinman, CPA/PFS, CFP®, CSRIC®, Senior Consultant at Fiducient Advisors and co-chair of the firm’s Mission-Aligned Investing Committee. They explore the current landscape of ESG and Mission Aligned Investing (MAI).

You’ll discover:

  • How nonprofits and investors can incorporate Mission-Aligned and ESG investing 
  • Why MAI and ESG investing are never an all-or-nothing approach
  • The first step for nonprofits to get started with MAI — honing in on their values
  • What the future of ESG investing looks like
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Sarah Hinman | Fiducient’s Guide to Mission-Aligned Investing | Mission-Aligned Investing: Where Are We and Where to Next? | From $400 Million to $15 Billion: Scott Malpass’ Journey Leading Notre Dame’s Endowment and Other Lessons for Leaders | Other Insights by Fiducient Advisors (Research, Blogs, Podcasts)

About Our Guest:

Sarah provides investment consulting services to nonprofit organizations, corporate executives, family trusts, and other substantial investors. She services clients by providing advice and expertise on asset allocation, portfolio design, investment policy statements, manager search process, and overall investment management. Sarah co-chairs the firm’s Mission-Aligned Investing Committee.

Sarah earned a BS in Accounting from the University of Illinois at Urbana-Champaign and a BA in Fashion Marketing and Management from The Illinois Institute of Art in Chicago. Sarah also earned a Master of Accounting Science from the University of Illinois at Urbana-Champaign. She is a Certified Public Accountant (CPA), a Personal Financial Specialist (PFS), a Certified Financial Planner (CFP®), and a Chartered SRI Counselor™ (CSRIC®). Sarah also passed the CFA Level I exam. In her free time, Sarah enjoys cooking and reading.

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Episode 65 – From $400 Million to $15 Billion: Scott Malpass’ Journey Leading Notre Dame’s Endowment & Other Lessons For Leaders

Episode 65 – From $400 Million to $15 Billion: Scott Malpass’ Journey Leading Notre Dame’s Endowment & Other Lessons For Leaders

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Under Scott Malpass’ leadership, the University of Notre Dame’s endowment fund grew from $400 million in 1988 to nearly $15 billion by 2020, ranking among the top 1% of endowments globally!

Post Notre Dame, Scott co-founded Grafton Street Partners and he remains passionate regarding his founder role with Catholic Investment Services.

In this episode, Bob DiMeo and Devon Francis interview Scott, tapping into his investment experience, governance best practices, and his advice for today’s endowment managers.

You’ll discover:

  • Scott’s journey to becoming the Chief Investment Officer at the University of Notre Dame
  • Why responsible investing does not necessitate sacrificing returns
  • Scott’s views on the blurring lines between ESG investing and socially responsible investing
  • Noteworthy trends that may excite (or concern) today’s investors
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Scott Malpass | Grafton Street Partners | University of Notre Dame | Insights by Fiducient Advisors (Research, Blogs, Podcasts)

About Our Guest:

Scott C. Malpass is the former Vice President and Chief Investment Officer of the University of Notre Dame, where he currently serves as an Adjunct Professor of Finance at the University’s Mendoza College of Business. Under Malpass’s leadership, the Notre Dame endowment pool grew from $400 million in 1988 to more than $14 billion as of June 30, 2020. Over Malpass’s 32 years of leadership, the Notre Dame Endowment achieved investment performance ranking amongst the very top of endowments globally, transforming opportunities at the University in all aspects of academic and student life. He is currently a member of the Board of Directors of The Vanguard Group, Inc., Paxos Trust Company, LLC, and Catholic Investment Services, Inc. He is also a member of the Board of Superintendence of the Institute for the Works of Religion in Vatican City, commonly referred to as the Vatican Bank. Malpass is a 1984 graduate of Notre Dame and received a Master of Business Administration degree from the University in 1986.

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Episode 61 – How Endowments (Especially Schools) Can Navigate Market Volatility With Katharine Wyatt

Episode 61 – How Endowments (Especially Schools) Can Navigate Market Volatility With Katharine Wyatt

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Many nonprofits, especially schools, are contending with rising costs, challenged revenue streams, and regulatory matters — all of it in a tumultuous market environment.

In this episode, Bob DiMeo and Devon Francis speak with Katharine Wyatt, CFA chief investment officer at Loyola University Chicago. Katherine shares timely insights on how nonprofits and endowments can thrive in the current environment by adapting their asset allocation and portfolio management.

You will learn:

  • How Loyola University’s endowment of over $1 billion is navigating the current markets
  • Katherine’s views on why active management is far from dead
  • The impact of the demographic cliff on higher education (and how to deal with it)
  • Example of how Loyola University created a mission-aligned investment strategy
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | Katharine Wyatt on LinkedIn | Loyola University Chicago

About Our Guest:

Katharine Wyatt, CFA, is the Chief Investment Officer at Loyola University Chicago. Ms. Wyatt has over 20 years of experience in the investment industry and is a well-rounded asset allocator with experience managing large institutional portfolios and investing across public and private asset classes. At Loyola, Ms. Wyatt leads the University’s investment office, where she is responsible for investment policy and management of over $1.5 billion in endowment, operating reserves and defined benefit pension assets. 

Prior to joining Loyola, she was Director of Investments for Abbott Laboratories retirement plans which included over $18 billion in Defined Benefit and Defined Contribution assets. At Abbott, she was responsible for oversight of investments, including selection, due diligence and monitoring of external managers and was instrumental in building the alternative investments program. Ms. Wyatt started her career as a research analyst at a multi-family investment office covering hedge fund, private equity and private real asset investments.

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Episode 58 – True or False? Answering Key Investment Questions For Nonprofit Leaders

Episode 58 – True or False? Answering Key Investment Questions For Nonprofit Leaders

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Is ESG here to stay? Will active investing have its turn in the sun? Can international markets finally outperform domestic markets? Does cryptocurrency belong in an endowment portfolio?

These are common investment-related questions that nonprofit leaders and people overseeing endowments might have.

In this episode, Bob DiMeo and Devon Francis answer the above questions and more. They also share Fiducient Advisors’ outlook for 2023 and beyond.

You will learn:

  • What is driving the growth of ESG investing despite political backlash and greenwashing
  • Valuable insights into active vs. passive investing and domestic vs. international markets
  • Why cryptocurrency might not become an integral part of an endowment portfolio
  • The importance of portfolio diversification
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | US SIF: The Forum for Sustainable and Responsible Investment | US SIF 2022 Trends Report

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Episode 57 – How Nonprofits Can Add “Sustainability” to Your Endowment With Dr. Troy Hammond

Episode 57 – How Nonprofits Can Add “Sustainability” to Your Endowment With Dr. Troy Hammond

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As part of your ESG goals, you might be screening certain investments before adding them to your endowment’s portfolio.

If you want to amplify your impact, adding a “sustainability fund” might help.

In this episode, Bob DiMeo and Devon Francis speak with Dr. Troy Hammond, a scientist, business leader, and entrepreneur who served as North Central College’s president for nearly 10 years until July 2022. Troy shares actionable strategies for effective endowment management and mission-aligned investing.

You will learn:

  • Three reasons why renewable energy projects fail (despite having a positive return potential)
  • How a “sustainability fund” can provide long-term steady income yield
  • Ways to improve endowment governance and align all stakeholders
  • Troy’s best advice to set nonprofit leaders up for future success
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Dr. Troy Hammond | North Central College | TEDx Talks: Sustainability: Why Universities Can Lead by Example With Dr. Troy Hammond | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | “Social Enterprise 2.0: The OWP Difference” by Mike Hamel | “Powering Social Enterprise with Profit and Purpose: The Tandem Hybrid” by Scott Boyer, Jeremy Gudauskas and Mike Hamel

About Our Guest:

A scientist, business leader and entrepreneur, Dr. Troy D. Hammond brought visionary leadership to North Central College over his nearly 10 years as president. Hammond launched his presidency with the bold Brilliant Future Campaign, a $150 million fundraising initiative—the most ambitious capital campaign in the College’s history—which brought sweeping physical changes to campus. He also created the Cardinal Sustainability Fund, which led to significant LED lighting and solar projects across campus. During Hammond’s tenure, several Cardinal athletic programs soared to new heights, including the College’s first-ever football national championship in 2019 and multiple national championships in other sports.

Prior to joining North Central, Hammond was at McKinsey & Company, a global leader in management consulting, where he became an associate principal. He then joined Plextronics, Inc., helping raise substantial venture and strategic capital and growing the technology company into a global leader in printed electronics. During this time, he also served as an adjunct professor of business at Milligan College.

 

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Episode 55 – A Leader’s Guide to Organization-Wide Diversity, Equity, Inclusion, and Belonging With Karen Paulson

Episode 55 – A Leader’s Guide to Organization-Wide Diversity, Equity, Inclusion, and Belonging With Karen Paulson

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Being part of a diverse organization does not guarantee everyone feels valued and welcome. It’s crucial to simultaneously and intentionally focus on equity, inclusion and belonging.

Moreover, DEIB is not only the right thing to do, but research shows it can also produce better outcomes.

In this episode, Bob DiMeo and Devon Francis speak with Karen Paulson, partner and senior consultant at Fiducient Advisors, who also chairs the firm’s Diversity, Equity & Inclusion Steering Committee. Karen provides meaningful insights and inspiration to all stewards looking to advance their DEIB objectives.

You will learn:

  • Macro trends in the DEIB space, especially in the investment management industry
  • Various DEIB initiatives at Fiducient — and the three primary pillars that support these initiatives
  • How organizational leaders can develop diverse talent and an inclusive culture
  • Best practices to create DEIB awareness and align boards and committees
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Karen Paulson | Email Karen | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | Year Up | National Black MBA Association® | National Association of Black Accountants | Women’s Association of Venture and Equity | Women Investment Professionals | Chicago Financial Women | Institutional Investing Diversity Cooperative

About Our Guest:

As a Partner and Senior Consultant, Karen services institutional clients, including 401(k) and tax-exempt retirement plans and nonprofit endowments and foundations, by providing advice and counsel on all areas of fund oversight including policy, asset allocation, manager research, portfolio structure, portfolio rebalancing, performance monitoring and overall investment policy. Karen is chair of the firm’s Diversity, Equity & Inclusion Steering Committee and is a member of the firm’s Defined Contribution Strategic Oversight Committee, Mission-Aligned Investing Committee and Employee Engagement Team. Karen co-founded Fiduciary Investment Advisors, LLC in 2006, which combined with Fiducient Advisors in 2020.

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Episode 54 – Four Action Items To Combat Market Volatility and Uncertainty

Episode 54 – Four Action Items To Combat Market Volatility and Uncertainty

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The traditional 60/40 stock/bond portfolio is on pace for its worst performance in 80 years and Treasury bonds might register their worst performance in 200 years! Investor anxiety seems to be rising in lock-step with interest rates.

All this contributes to a high level of uncertainty for those who oversee endowments and foundations.

In this episode, Bob DiMeo and Devon Francis help investment committees (or any nonprofit leader overseeing investments) combat market uncertainty through four key action items.

You will learn the following:

  • Why good stewards need to separate today’s news from the noise
  • Important considerations regarding expected investment returns moving forward
  • Insights into alternative asset classes, especially in light of higher interest rates
  • An important step in ESG investing that many organizations are overlooking
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Insights by Fiducient Advisors (Research, Blogs, Podcasts)

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Episode 53 – The Secret Sauce for High-Performing Nonprofit Organizations with Jeffery Perry

Episode 53 – The Secret Sauce for High-Performing Nonprofit Organizations with Jeffery Perry

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High-performing organizations are characterized by strong leadership, a clear goal, and strategic investments.

In this episode, Bob DiMeo and Devon Francis speak with Jeffery Perry, founder & CEO of Lead Mandates LLC. They discuss the major drivers of success for high-performing organizations (especially nonprofits).

You will learn the following:

  • The importance of having a clear sense of purpose for your organization
  • Evolution in asset allocation strategies and endowment management
  • The key to authentic ESG investing (and the impact of the “peanut butter approach”)
  • Personal leadership insights for nonprofit leaders
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Jeffery Perry on LinkedIn | Lead Mandates LLC | “Authentic ESG—Not Whac-A-Mole nor Peanut Butter” by Jeffery Perry | “Great Resignation Refocused as Great Reengagement” by Jeffery Perry | “At Your Side for The Rough Ride” by Bob DiMeo

About Jeffery Perry:

Jeff is the Founder & CEO of Lead Mandates LLC, an advisory firm that helps organizations improve business and leadership performance. He is a global strategic business advisor with relevant experience that spans 20 years combined as partner at Ernst & Young LLP (EY) and A.T. Kearney. He is a highly skilled and passionate leader in mergers and acquisitions (M&A), integrations, divestitures, and business transformations, linking strategy to purpose-led leadership and execution.

Jeff is a member of corporate and non-profit boards including: Board Director, Fortune Brands Home & Security, Inc. (NYSE: FBHS); Independent Director (Trustee), Equitable Funds; Board of Trustees Chair, Babson College; Board Chair, Chicago Children’s Museum; Former Board Chair, INROADS Inc.; Board Director, National Association of Corporate Directors (NACD) Chicago Chapter; Board Director, Harvard Business School African-American Alumni Association; Association of Governing Boards of Universities and Colleges (AGB) Council of Board Chairs. In addition, he is included in Savoy Magazine 2021 Most Influential Black Corporate Directors and Financial Times Agenda Diversity 100.  

Jeff received his B.S. in Marketing/Quantitative Methods, with high distinction, from Babson College and M.B.A. from Harvard Business School.

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