Foundations & Endowments

Exceptional Service

We are dedicated to building meaningful long-term relationships with you and your team. READ MORE > Our consultants and relationship managers provide personalized attention in a family-friendly environment that giant banks and Wall-Street firms simply can’t match. Our experienced and responsive staff works diligently to ensure every detail is handled properly. Everyone at Carolinas Investment Consulting is committed to service that exceeds expectations. Our business is built to serve you.

Handcrafted Experience

Throughout our more than 15-year history we have helped our institutional clients navigate the complexities of modern finance. READ MORE > We know the importance of listening carefully to understand each organization’s unique situation. Thanks to our independence, we are free to pursue the best interests of our clients without the inherent conflicts found in well-known financial conglomerates that sell their own proprietary products.

Expert Guidance

Our clients benefit from all the expertise of our team of professionals working together to provide insights and guidance. READ MORE > This combined breadth and depth of knowledge lets us simplify the complex, address uncertainty, and chart the best course for your organization. We combine considerable experience with a commitment to continuing education and research. We help you design investment policy statements, construct broad asset allocation policies, and implement annual spending policies.  We have the joy of experiencing long-term trusted relationships with our institutional clients, underpinned by openness, caring, and steady guidance throughout full market cycles.

Your Organization is built for the long term.
Why Not Invest That Way?

Investment Portfolio Management

We have enjoyed decades long partnerships with our non-profit organizations.  Each organization has unique needs, opportunities, and challenges.  We co-create portfolios with you by taking into account the unique challenges that face each board.  Our investment portfolios are built for the long term, with consideration for needs of the short term.  Our investment process includes:

  • Strategic & Tactical Asset Allocation Framework
  • Proprietary Investment Manager Research
  • Creation of Investment Policy Statement
  • Spending Policy Consultation
  • Ongoing Board Education
  • Ongoing Manager Monitoring

Asset Allocation

Whether it be stocks, bonds, cash, liquid alternatives, or private investments such as equity, debt, and real estate, choosing the right mix of assets is critically important.  In fact, numerous studies on the topic have concluded that a substantial percentage of returns can be explained by the asset allocation decision, rather than the selection of individual securities within the asset class.*

We focus on capital preservation and downside risk management in all of our allocation policies.  We believe in a global approach to allocation to mitigate risks of home country bias.  We balance the science and art of asset allocation by taking into account a wide variety of inputs:

  • Construction of efficient frontier through mean variance optimization
  • Long-term and short-term expected returns for asset classes
  • Asset correlations
  • Organization’s liquidity needs, risk tolerance, and behavioral factors

*Studies include Brinson (1986), Ibbotson & Kaplan (2000), Hensel, Ezra, and Ilkiw (1991)

Proprietary Investment Manager Research

Our Consultants and Research team undertake a rigorous due diligence process when selecting investment managers.  We employ an independent approach that limits conflicts of interest because we do not offer proprietary investment products.  Our job is to find our clients the best investment strategies within each asset class and implement the strategies in the most efficient ways.  Our decision to not provide our own investment management products puts us on the same side of the table as our clients as we have no vested interest in any particular strategy.  Our research process includes:

  • Quantitative screens filter the universe of managers
  • In-person meetings provide a qualitative assessment of the managers
  • Ongoing monitoring and new funds searches, include listening to quarterly calls, hosting managers in Investment Committee meetings, and traveling to see managers
  • Our proprietary focus list provides a framework for reviewing managers and taking action

Investment Policy Statement

Creation of the Investment Policy Statement (IPS) is a crucial step towards preparing your organization for long-term success.  The IPS allows for seamless transitions of board members and investment managers.  The IPS should outline the following:

  • Specifically state the goals and objectives of the organization
  • The role of all parties (board members, sub-committee members, consultant, managers) and the fiduciary responsibilities of each of the members, if applicable
  • Define a benchmark and time horizon for measurement of success
  • Strategic Asset Allocation targets & Tactical Asset Allocation ranges
  • Outline investment categories or types that are excluded from inclusion in the portfolio
  • Create rules for investment decisions
  • State the manager evaluation process

Spending Policy

Has your organization struggled to find the right spending policy?  We can help.

While in some scenarios a spending policy is rather cut and dry due to legal or other guidelines, in other cases setting the right spending policy can be a challenge.

As a fiduciary, you are tasked with making decisions that are in the best interest of your endowment, foundation, or organization.  Competing interests, board dynamics, and improper assumptions can anchor an organization to the wrong spending policy.

With decades of experience working with institutions, we have a unique vantage point that allows us to consult with your board to help balance ongoing liquidity needs with the need for an endowment to live in perpetuity.

Board Education

Financial and investment education is at the core of our services.  We understand that your board members and other people who run your organization are extremely busy managing careers, families, and volunteer work.  We enjoy providing ongoing education tailored to your team and especially your new members.

Education can vastly improve your board’s decision making process and can mitigate the risk of grid lock and slow decision making.  Our goal is to help drive efficient and thoughtful decision making so that your organization can focus on serving its mission.  We work with you to implement a sound investment process.

  • Asset Allocation education
  • Investment selection education
  • Fiduciary education
  • Spending policy education
  • Board structure education

Everyone at Carolinas Investment Consulting is committed to service that exceeds expectations.  We are built to serve you and your specific needs.

Performance Reporting

Our third party performance reporting software provides a comprehensive view into the financial health and ongoing success of your organization.

  • Total return reporting on any and all time periods
  • Cash flow monitoring over time
  • Historical and current asset allocation
  • Individual funds and investment strategy performance
  • Benchmarking
  • Account-by-Account and overall organizational reporting

We happily provide our boards with ongoing reporting and commentary as part of our service model.  Simply put, we offer fully custom performance reporting to ensure that our presentations are built to serve you.

  • Account Access