FIRST-HAND EXPERIENCE
WST brings to bear a depth of fiduciary experience both as Advisor and Trustee; our Principals are proud to serve an average of five non-profit organizations in the capacity of board or committee member. We understand the privileges and demands of stewardship.
ALIGNMENT OF PURPOSE
As a community minded firm led by professionals who are deeply versed in stewardship, we feel we serve our clients best by joining in their vision for the community or cause they serve. We understand that sound, disciplined, transparent counsel is required to protect the resources needed to sustain missions – to fund scholarships, to improve the quality of medical care, to preserve nature and works of art, to provide secure retirements, to build new facilities.
STRATEGIC PARTNERSHIP
No two institutions are the exact same, but we feel the goals of stewardship are largely consistent; ensure proper governance, improve financial viability and position the organization to sustain its mission in perpetuity. We understand the operational and governance questions facing a board, and we are a consultative resource prepared to support clients’ needs outside of the development and execution of an investment policy.
Project-oriented approach driven by committee needs
Key features:
- Committee leverages consultant for help making informed decisions…
- Manager search
- Portfolio allocation
- Special studies
- … but ultimately, Committee retains responsibility for portfolio construction and implementation
- Consultant provides portfolio monitoring and performance reporting
Collaborative approach between Committee & Advisor
Key features:
- Advisor assists with investment policy development
- Customized portfolio construction advice
- Collaborative portfolio management approach
- Committee approval required for some or all decisions
- Shared responsibility for portfolio construction and implementation
- Advisor provides portfolio monitoring and performance reporting
Committee fully delegates to Advisor
Key features:
- Advisor with full, discretionary portfolio management responsibilities
- Advisor leads development of Investment Policy Statement
- Customized portfolio construction advice
- Advisor fully responsible for:
- Asset allocation
- Manager due diligence, selection, replacement
- Rebalancing
- Risk management
- Portfolio monitoring and reporting
A DIVISION OF LABOR THAT MAKES SENSE
Board members are routinely asked to make complex investment decisions; even the savviest Board member may be uncomfortable making investment calls amidst changing markets. We believe our approach addresses critical shortcomings of the traditional consultant + manager model of institutional portfolio management, by centralizing responsibility for investment decisions and outcomes. As consultant and advisor, we are solely accountable for our decisions and we answer to the Board.
EFFICIENCIES THAT ACCRUE TO THE INSTITUTION
By fully delegating investment decisions to a single strategic partner, institutions secure key efficiencies in portfolio management:
- Expedited decision-making on strategic allocations
- Flexibility for tactical decision-making in certain market environments
- Efficiency in execution
- Flat, all-in fee paid to a single manager
SHARED PERSPECTIVE ON STEWARDSHIP
Strong returns are important, but they are not the sole proof statement of success when you truly align yourself with the purpose of an institutional client.