April 25, 2023 | Stamford, CT — Increasingly complex and challenging market conditions are causing U.S. asset owners to seek higher levels of support from their external partners. In response, U.S. investment consultants are transforming themselves from curators of recommended asset manager lists into centralized sources of expertise, knowledge transfer and market information. 

Soaring inflation and rates hikes by the U.S. Federal Reserve upended a run of historically favorable conditions for investors last year. Throughout this unpredictable period, asset owners have looked to external partners for both insights into fast-changing markets and for more focused support in their investment functions. 

Institutional asset managers have traditionally positioned themselves prominently to provide clients with bespoke guidance beyond the narrow bounds of traditional investment mandates. However, investment consultants remain by far asset owners’ No. 1 source of advice. 

“Because consultants operate at the nexus of a broad network of asset owners and investment managers, they are perfectly positioned to serve as a centralized source of expertise - not just on managers and manager searches, but on tactical and strategic issues faced by asset owners every day,” says Todd Glickson, Head of Investment Management – North America at Coalition Greenwich and coauthor of Investment Consultants Support U.S. Asset Owners in Volatile Markets. 

Asset owners’ need for advice on topics like asset allocation, investment products, portfolio construction, and market events has changed their expectations for their investment consultants. Increasingly, asset owners are looking for consultants who are available for discussion and responsive to requests. With the dramatic shift in market conditions and new challenges like the integration of ESG, investment consultants have additional opportunities to expand and deepen their relationships with asset owners. 

“For asset managers, this means it is increasingly important to invest in consultant relations teams, even as managers commit more resources to build direct relationships with end clients,” says Susan Gould, Coalition Greenwich Senior Relationship Manager and report coauthor. 

2022 Greenwich Quality Leaders in Overall U.S. Investment Consulting
The 2022 Greenwich Quality Leaders in U.S. Investment Consulting have all distinguished themselves by providing exceptional service to clients in a period of difficult market conditions. 

The 2022 Greenwich Quality Leaders for the “Large Consultants” category are CAPTRUST, Graystone Consulting and RVK, and the winners for the “Midsize Consultants” category are AndCo Consulting, Angeles Investment Advisors, Asset Consulting Group, and LCG Associates.