FEG, one of the largest investment consultants in the U.S.1, is proud to announce January 2018 will mark 30 years of business for the Cincinnati-based independent, investment advisory firm.
FEG was founded in 1988 by five employees. Since then, the company has grown to approximately $61 billion in total client assets under advisement2 and 130 employees in four offices nationwide. Its first client was a pension plan, but the business quickly expanded to serve institutions such as universities, foundations, independent schools, religious organizations, and community foundations. Today, non-profit clients represent 77% of the firm’s institutional assets.3
“As the new year approaches, I am excited to celebrate the 30th anniversary of FEG,” said FEG President and CEO Scott Harsh. “I joined the company in 1990 as the ninth employee, and we have always had a client-focused culture and invested in our most important resource—our associates.”
FEG seeks to align our employees’ interests with those of our clients, creating a strong and stable organization where our investment professionals average 11 years of experience.4 FEG previously was named a top work place in our local market for four years5, and in keeping with the philanthropic missions of our clients, our firm and employees are actively involved in the community.
The firm’s dedication to our community has been instilled in firm culture since the beginning. Fred Diamond, one of the company founders, was deeply committed to community involvement. Prior to his death in 2003, Diamond had founded organizations including the Cincinnati branch of the Young Entrepreneurs Organization and Cincinnati Cooks, a project of the Freestore Foodbank. FEG continues to have a firm-wide commitment to the greater Cincinnati community, volunteering with the Freestore Foodbank, UC Economic Center’s StEP program, and other local organizations.
FEG believes a well-qualified team of investment professionals with strong experience and knowledge is better able to serve the sophisticated needs of institutional clients, which is why the firm continually looks to attract diverse investment talent and invests in developing and maintaining the skills of current employees. The firm currently has 27 Chartered Financial Analysts (CFAs), 21 Chartered Alternative Investment Analysts (CAIAs), 35 employees with postgraduate or doctorate degrees, and eight employees working toward industry certifications.
In December 2016, FEG formalized its long-standing business in Texas and the south by opening a Dallas office through the acquisition of Larry Thompson & Associates. The other satellite offices include Indianapolis and Detroit.
In September, the firm transitioned from 15 managing principals to an employee stock ownership plan (ESOP), which allowed the firm to maintain its independence and establish a long-term, sustainable structure to take FEG into the future.
“We will continue to grow and adapt as we work to empower our clients to achieve their goals,” Harsh said. “I am excited for the great things the next 30 years will bring to FEG.”
In anticipation of the firm’s 30th anniversary, FEG is refreshing its logo to celebrate the success of the firm and the organizations it serves.
About FEG: FEG (also known as Fund Evaluation Group, LLC), is a provider of investment advisory services to institutional investors such as endowments, foundations, healthcare organizations, and retirement plans. FEG services include investment consulting, outsourced chief investment officer (OCIO), and research services. Established in 1988, the independently-owned firm has approximately $61 billion in total client assets under advisement.2 For more information, visit www.feg.com
1Source: Pensions & Investments, 2016. Any awards or nominations received by FEG or its personnel are not representative of any client’s experience or FEG’s capabilities as an investment adviser and as such does not indicate any future experience or performance. FEG is not affiliated with the awarding agencies and does not validate the appropriateness of the agencies or its awards.
2 As of June 30, 2017, Assets under Advisement (AUA) include discretionary and non-discretionary assets of FEG and its affiliated entities. These assets are typically non-discretionary. For non-discretionary accounts, FEG will advise and make recommendations on investments, but does not have authority to execute or facilitate trades on behalf of the client. Some asset values may not be readily available at the most recent quarter end, therefore the previous quarter's values were used for this calculation. The values may be higher or lower, depending on the current market conditions. Of the $61bn AUA, total assets under management (AUM) are $6.8bn which are comprised of: Institutional discretionary AUM $2.6bn, Institutional non-discretionary AUM $3.7bn and Non-Institutional AUM $486mm.
3 Institutional clients include Corporations, Charitable Organizations, Community Foundations, Financial Entity, Healthcare, Higher Education, Independent Schools, Insurance, Private Foundations, Public Funds, Religious Organizations, and Taft Hartley that are FEG Consulting, OCIO or Hybrid clients.
4 As of 11/30/2017
5FEG was named a Top Workplace in Greater Cincinnati by the Cincinnati Enquirer in 2013,2014, 2015, and 2016.