Rosemont Roundtable: Exploring the Business of Investment Management (Formerly Global Investment Leaders)

In the latest episode of Rosemont Roundtable: Exploring the Business of Investment Management, Brad Mook sat down with Jim DeWolfe, managing member and president of Northside Capital Management, for a compelling conversation on Northside’s unique investment philosophy, its approach to ultra-high-net-worth client management and the strategic partnership with Rosemont. With Northside's expertise in managing over $5 billion in assets and its commitment to maintaining long-term independence and stability, Jim shares insights on Northside's foundation, its customized investment strategies and how the firm stands out in the wealth management landscape. The episode also looks at Northside’s investing methodology, including the significance of a personalized approach in portfolio management and being opportunistic based on market conditions. Specifically, Brad and Jim talked about: Jim's journey from Morgan Stanley to founding Northside Capital Management in 2005, aiming to bring institutional capital markets experience to ultra-high-net-worth families.Northside's philosophy of building customized portfolios tailored to each client's needs, incorporating a mix of third-party managers and individual securities.Rosemont's recent minority equity investment in Northside, supporting the firm's long-term independence, stability and succession planning.Jim's vision for Northside's continued improvement, supported by Rosemont's strategic guidance.Timely opportunities in today’s investment landscape, including specific areas within credit markets, the optimal hunting ground for security selection, and non-consensus positioning within private equity. The conversation provides insight into Northside’s differentiated business and the new affiliation with Rosemont. If you have any questions or want to learn more, please don't hesitate to contact us. All episodes of the Rosemont podcast—including Rosemont Roundtable and Global Investment Leaders—are available on Apple Podcasts, Spotify, and more. Receive the episodes as soon as they premiere by subscribing today.

In the latest episode of the Rosemont Roundtable: Exploring the Business of Investment Management (formerly known as Global Investment Leaders), Chas Burkhart sat down with Barclay Douglas, an investment industry veteran with over 15 years at the helm of Criterium Advisors, a firm offering traditional consulting services, but focused on Outsourced Chief Investment Officer (OCIO) search. During their conversation, Barclay shares his wisdom into various aspects of the investment management industry, and specifically his wide-ranging observations on the OCIO space.Specifically, they discuss:Barclay's background and his career trajectory, from his early days as a trainee stockbroker, to investment management marketing and business leadership, to founding Criterium Advisors, which initially focused on total fund management consulting but expanded into traditional institutional consulting and OCIO search services in 2013.Perspectives on the growing demand for OCIO services, competitive dynamics, business models, distinguishing characteristics, scale and offerings.How Criterium and Rosemont evaluate OCIO businesses and performance and the challenges in comparison, highlighting the need for a more nuanced approach beyond traditional benchmarking.The potential future of private equity; the importance of finding an OCIO with an understanding of the space and significant outperformance in U.S. markets.The risks associated with finding the right OCIO, including undervaluing the importance of expertise in alternative investments, over-reliance on quantitative metrics, inadequately assessing fee structures and underestimating the dynamic nature of the asset management industry.Industry developments and trends that are top of mind and views on current sales and marketing strategies.Overall, the conversation provides insights into the complexities and dynamics of the OCIO industry, emphasizing the importance of client relationships, investment integrity and sustainable business practices.

In the latest episode of the Rosemont Roundtable: Exploring the Business of Investment Management (formerly known as Global Investment Leaders), Brad Mook sat down with Wes Gallup, managing director and chief operating officer of Cary Street Partners, an independent wealth management firm based in Richmond, Virginia, with more than $8 billion in assets under management.* Their conversation centers around the evolution of Cary Street and offers insights into industry trends, growth strategy and technology's role in modern wealth management firms. Specifically, Brad and Wes discuss:How Cary Street pivoted from a corporate advisory firm to a full-service wealth management firm after an acquisition in 2007.The firm's focus on both organic and inorganic growth, including prioritizing acquisitions that enhance capabilities and improve client service over raw scale.Managing growth by providing advisor independence while maintaining a cohesive brand.The importance of technology adoption for operating efficiencies and staying competitive in the modern wealth management industry.The potential for AI and emerging technologies to enhance productivity, even while recognizing the irreplaceable value of human relationships in the advisor-client dynamic. Overall, the conversation underscores the importance of client-centricity, organic growth and thoughtful implementation of technology to achieve long-term success in the evolving industry landscape. All episodes of the Rosemont podcast—including Rosemont Roundtable and Global Investment Leaders—are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *As of March 25, 2024, Cary Street Partners manages approximately $8 billion in assets. 

In this episode of the Global Investment Leaders podcast, Chas Burkhart, CEO of Rosemont, sat down for a conversation with Jan van Eck, CEO of VanEck, a roughly $90 billion* multi-asset firm headquartered in New York. Founded in 1955 by Jan's father, John van Eck, VanEck has gradually diversified, with the ETF business becoming dominant since its inception in 2006. Their conversation covers Jan's leadership evolution, the importance of culture and building strong teams, the strategic focus on the ETF business and the importance of being able to pivot in the rapidly changing financial services space. Specifically, Chas and Jan discuss:The evolution of VanEck over its nearly 70-year history, from a pioneering gold business to a diversified provider of niche investment offerings.Jan's role as CEO and the growth of VanEck as a leader in the industry, including the importance of focusing on personal and organizational strengths.The culture at VanEck, highlighting the importance of hiring industry experts and the resilience fostered by the tolerance for cyclicality in resource-based businesses, leading to a remarkably low turnover rate.VanEck's approach to growing and pivoting the ETF business, including their two phases of product design and the current shift towards a more distribution-oriented industry.The role of performance in driving investor sentiment and flows, and how market direction, whether income or equity-oriented, plays a crucial role in decision-making.Identifying industry disruptors and VanEck's positioning in the cryptocurrency and blockchain space.The broader industry trend of consolidation through mergers and acquisitions, and the benefits of being a private, employee-owned company with a long-term perspective. Overall, this episode highlights a business-minded leader who understands the importance of firm culture, building a strong team and taking strategic risks. All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *As of February 7, 2024, VanEck manages approximately $90 billion in assets.  

In this episode of the Global Investment Leaders podcast, Rosemont’s Brad Mook sits down with Todd Briddell, chief executive officer and chief investment officer of CenterSquare Investment Management. CenterSquare is an employee-owned global real estate investment firm founded in 1987, managing over $14 billion in equity capital. The firm operates domestically and globally and offers a range of solutions for institutional investors. During the conversation, Briddell sheds light on CenterSquare's evolution and how they navigated functional and ownership succession through a sale of the firm, a management buyout and rebranding. Specifically, Briddell and Mook discuss:CenterSquare's commitment to thematic investing, bringing a macro view to the table, and the importance of a client-first mentality to meet client needs effectively.CenterSquare's ownership journey, starting as a founder-owned entity, being acquired by BNY Mellon in 2006, and executing a management buyout in 2018.Details on the ownership structure post-management buyout, emphasizing inclusivity and the participation of a larger group of individuals.CenterSquare's strategic position between large corporate-owned firms and smaller, founder-led entities.The significance of cross-fertilization within the organization and how teams are brought together to prevent silos.Overall, the conversation offers valuable insights into CenterSquare's unique trajectory and broader lessons for small and mid-size firms seeking sustainable growth and strategic positioning in today's evolving landscape.All Global Investment Leaders podcast episodes are available on Apple Podcasts, Spotify, Google Podcasts and more. Access episodes as soon as they release by subscribing today.

In this special year-end episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart and Rosemont Managing Director Brad Mook sit down to reflect on the industry trends and developments they observed this year. 2023 marks five years with Markel as the firm's permanent capital provider, and Rosemont has evolved from a legacy PE fund structure to a permanent capital approach. Brad and Chas discuss the benefits of long-term sustainability in contrast to the traditional exit-focused models. Specifically, they discuss: The unique relationship they've built with Markel since beginning their relationship five years ago and the importance of alignment and shared values in a partnership. The evolving motives and agendas shaping investment decisions, emphasizing the importance of patience and understanding in fostering successful, long-term relationships. The industry focus on volume and valuation, and Rosemont's views on measuring success beyond traditional metrics. The state of the marketplace, opportunities in wealth management alternatives and the role of smaller players in the industry. How Rosemont has continued to refine the characteristics and values that make potential partners a good fit.  Burkhart and Mook also share exciting firm updates, including the addition of new team member Chris Banholzer, as well as a pending investment. All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In the latest episode of the Global Investment Leaders podcast, Chas Burkhart, CEO of Rosemont, sits down for a conversation with Kane Brenan, CEO of TIFF Investment Management. TIFF offers outsourced CIO (OCIO) and private equity investment solutions primarily to endowments, foundations, and other charitable organizations, and manages or advises on $8 billion in assets*. The conversation between Chas and Kane revolves around TIFF's structure, investment philosophy and the challenges and opportunities in the industry.Throughout this episode, Kane and Chas discuss:Differentiators in the Competitive OCIO Space: The three main differentiators that set TIFF apart in this fieldLeadership Approach: His approach to his role as CEO and how he divides his time between strategy and direction, team development and mentoring, client engagement and investment activitiesLong-Term and Short-Term Strategy: TIFF's evolving short-term and long-term strategies and how they meet the needs of their diverse client baseTransition to Employee Ownership: TIFF's conversion to an employee-owned public benefit limited liability company, the benefits from the conversion and how it cultivates a more forward-looking company culture to attract talentEquity, Active Returns, and Illiquidity: The importance of equity as a cornerstone of portfolios, the value of active returns and the role of illiquidity in investments, particularly in private equity and venture capital marketsSales, Marketing and Client Service: The often-overlooked role of sales, marketing, and client-facing positions within the OCIO industry All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.*As of June 30, 2023, TIFF managed approximately $8 billion, including committed capital, on behalf of its members.

In the latest episode of the Global Investment Leaders podcast, Brad Mook, managing director of investments at Rosemont, sits down with Phillip Cook, managing partner and chief investment officer of SouthernSun Asset Management. SouthernSun is an employee-owned boutique equity manager based in Memphis, Tennessee, with just over $1 billion in concentrated U.S. small and mid-cap strategies. The firm was founded in 1989 by Phillip's father, Michael Cook, and has maintained the same philosophy and process since the very beginning. During the discussion, Phillip openly shares insights and anecdotes from his career at SouthernSun, recalling both the missteps and successes he faced along the way. He also speaks on the decades of strategy and planning that culminated in SouthernSun becoming entirely employee-owned and successfully transitioning leadership of the firm across generations - both notable achievements. Throughout this episode, Brad and Phillip discuss: SouthernSun's unique investment-sourcing approach, which involves hands-on research, site visits and an in-depth understanding of an industry's value chain. SouthernSun's ownership history and the thought process behind the firm's decision to buy itself back from AMG in 2020 to become 100% employee-owned.  The importance of trust and transparency in building authentic relationships with coworkers, management teams, clients, prospects and industry experts. SouthernSun's distinct approach to investing and why it remains focused on U.S. small and SMID-cap strategies. The recent management changes at SouthernSun and how the firm navigated the challenges associated with succession planning.  All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In the latest episode of the Global Investment Leaders podcast, Chas Burkhart, CEO of Rosemont, engages in a thought-provoking conversation with Earl “Trip” Samson III, co-managing partner of Landmark Management, LLC, a NYC-based, multi-family office with approximately $5 billion in assets under management. The conversation revolves around Landmark's transition to next-generation leadership and the strategic partnership between Landmark and Rosemont, which was announced in June 2023. Throughout this episode, Trip and Chas discuss: How Landmark has structured its team to address the complex needs of the ultra-high-net-worth families it serves How planning early and over a long period of time can lead to greater comfort and optimize outcomes How the multi-generational concerns of Landmark's clients have influenced Trip's approach to succession planning and long-term sustainability The role Rosemont has played in the broader context of the firm's long-term plan over the past six years and the future of their relationship The importance of prioritizing people and philosophical alignment over liquidity and valuation when considering the firm’s long-term continuity  Overall, this episode provides a glimpse into what a deliberate, thoughtful approach to succession planning looks like, as well as the importance of creating a solid foundation to ensure the best possible outcome for clients.  All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In a recent podcast by Rosemont Investment Group, the hosts discussed two key topics: succession planning and business sustainability in the investment industry.The podcast began with the observation that it has been a busy half-year for Rosemont, particularly with the closing of its recent investment in Landmark. As a result, Chas and Brad took a moment to reflect on their progress midway through the year.One of the prominent themes discussed in the podcast was the growing attention being paid to succession. While succession planning has always been a part of Rosemont's focus, they noted an increase in conversations about this topic over the past year.During the podcast, Brad and Chas emphasize the following key points:The challenges faced by investment businesses in terms of sustainability due to industry evolution and increased competition.The complexity of investment decisions for allocators, intermediaries and clients who have numerous options to choose from.The growing recognition among managers of the need for sustainability and the consideration of proactive or reactive measures.The various risks involved with lack of succession planning, including unforeseen tragedies, incapacitation and chronic underperformance.The expected elimination of excess capacity and mediocre performers in the industry within the next 5-10 years.The impact of the next generation's lower risk appetite on their willingness to take on equity ownership, considering factors like tax burdens, feasibility, and debt levels.In conclusion, the hosts expressed their belief that the investment industry will witness a surge in corporate activity and M&A (mergers and acquisitions) as businesses seek to address succession challenges and enhance sustainability in an increasingly competitive landscape.All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In this episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart is joined by Barbara McKenna, president of Longfellow Investment Management in Boston, MA. Longfellow is a $17+ billion firm* primarily focused on short-term and fixed-income strategies, with an equity-oriented approach. McKenna's leadership over the past 18 years has brought significant growth to the firm, expanded its core competencies and offerings, broadened employee ownership - all while maintaining an exceptionally-low client turnover rate. In the episode, McKenna details Longfellow’s investment-centric culture, driven by client success and supported by a broad employee ownership structure.In terms of the macroeconomic landscape, Longfellow emphasizes bottom-line security selection, considers macro events' influence rather than predicting them and identifies risks associated with them.“I truly believe that, as an active manager, the greatest success comes when we are a viewed as a partner and a solution provider, and that of course, includes seeking to deliver consistent above average, risk-adjusted, relative or absolute returns, but it really means focusing on listening to the needs of clients, having the ability to customize solutions,” McKenna said.Specifically, McKenna and Burkhart discuss:Longfellow’s focus on short-term and fixed income strategies with an equity owner’s mindset.The expansion of Longfellow’s offerings over the years, incorporating core plus strategies and absolute return offerings to meet client needs and capture a broader range of opportunities.How the firm prioritizes cultural and philosophical fit when selecting strategies and aims to be a role model for change as a woman-majority-owned firm.Key aspects of McKenna’s leadership philosophy, how to attract and retain employees, and the importance of diverse perspectives and collaboration in the workplace.How Longfellow maintains its investment-centric culture and emphasizes client successLongfellow’s approach to the macroeconomic landscape, including bottom-line security selection and understanding the influence of macro events.The episode concludes with McKenna’s take on the current economic environment, Fed hikes, rates and market volatility. Overall, the episode offers valuable insights into the factors that have fueled Longfellow's success and its unwavering dedication to serving clients with integrity and expertise.All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.* Approximate AUM of Longfellow Investment Management at the time of recording.

In this episode of How They Did It, a sub series of Rosemont’s Global Investment Leaders podcast, host Brad Mook is joined by Lindsay Chamberlain, Managing Director at Axiom Investors. During their conversation, Chamberlain, who has been a part of Axiom for 10 out of the firm’s 25 years, discusses Axiom's business and investment philosophies, which have enabled the firm to expand its client partnerships and thoughtfully scale its business.Chamberlain and Mook discuss: How the firm's culture has been key to its success, aligning the interests of its employees with those of its clients.Axiom's commitment to collaboration, which has led to innovative ideas and thinking, while its focus on performance has played a significant role in its success.How offering a range of investment vehicles has helped attract different client types and build a diverse base of business.Axiom's rebranding from Axiom International Investors to Axiom Investors, which reflects the build-out of its strategies which all leverage its core, dynamic growth investment philosophy that is grounded in fact-based evidence.The importance of maintaining a strong culture to ensure the firm’s success and stability, and how adapting and responding to changes in the industry is key.Chamberlain also touches on Axiom's client communication strategy and the importance of maintaining a performance-led culture without compromising on the firm's values. The episode concludes with Chamberlain sharing key lessons learned from her 10-year tenure at Axiom. All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. 

On the latest episode of the Global Investment Leaders podcast, Chas Burkhart, Rosemont’s CEO, hosts Stefan Strein, Cleveland Clinic’s first chief investment officer, for a conversation about Cleveland Clinic's investment strategy and how it supports the organization's mission of “caring for life, researching for health and educating those who serve.” In his role as chief investment officer, Strein is responsible for the strategic direction and investment management of Cleveland Clinic’s $15 billion in investable financial assets. He also co-chairs Cleveland Clinic’s Retirement Committee, which oversees $11 billion in defined contribution assets invested for the organization’s 70,000 caregivers. Drawing upon his 30-year investment career, which started in venture investing, Strein shares his insights on: Cleveland Clinic’s move in 2015 to build an investment office internally with an initial focus on creating a foundation built on managing risk and measuring performance The advantages of the Clinic as an investment office and how it leverages software for  data warehouses, visualization tools and artificial intelligence applications used in managing clinical operations around the world to manage the investment portfolios, How healthcare investment portfolios are typically more conservative than the average endowment due to the need for stability and predictability in the industryThe importance of contributing to the credit rating of a healthcare system, as the health system utilizes long term debt to fund the construction of its destination medical centersHow the purposeful integration of investment partners and the investment team into the Clinic's mission through behind-the-scenes hospital tours, curated webinars on healthcare topics and connectivity to clinical and research thought leaders highlights the importance of collaboration and shared values in achieving success How Cleveland Clinic aims to be early pioneers in emerging investment strategies and newly launched firms, but not necessarily the first dollar, to mitigate risk The podcast concludes by discussing key success metrics for the investment side of Cleveland Clinic. Strein states he measures the success of the investment office by “outperforming benchmarks, being a low-cost solution for an organization that operates in an industry with increasingly tight operating margins, and being the financial backbone of an incredibly innovative and entrepreneurial ecosystem.” By meeting these points, Strein believes it better enables Cleveland Clinic to “have the financial strength and certainty  it needs to be the most innovative and resourceful healthcare system in the world.” All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In this episode of How They Did It, a subseries of Rosemont’s Global Investment Leaders podcast, host Brad Mook is joined by Scott Priebe, Managing Principal and Portfolio Manager at Geneva Capital Management. Based in Milwaukee, Wisconsin, Geneva is a majority employee-owned investment boutique managing roughly $5 billion in long-only US equity strategies and specializing in small- and mid-cap quality growth. During their conversation, Priebe shared his unique perspective on investment firm ownership, which has been formed over a series of ownership transitions since Geneva’s founding in 1987. Seeking to grow and diversify the firm’s investment strategies and revenue drivers, in 2014 Priebe and his partners merged with London-based Henderson Group. Yet just two years later, the firm’s new parent organization merged with Denver-based Janus Capital Group, upending Geneva’s strategy for long-term, sustainable growth. It is from this juncture that Priebe shares his insights on why and how he and his partners pursued an MBO and the factors that made it successful, including:The catalyst that led Priebe and his partners to seek their independence from their parent organization and return to operating as an independent boutique How Priebe and his partners approached the parent management team, with the goal of creating value for both firms and their clientsThe risks and rewards of betting on themselves, particularly amid the competitive headwinds faced by independent, long-only equity managersNavigating valuation, financing and the many logistics that are required when completing an MBOHow Priebe and his partner structured the ownership of newly independent Geneva, offering employee ownership across functions to capitalize on the team’s entrepreneurial spirit To hear another episode about navigating the complexities of an MBO, be sure to listen to Mook’s recent conversation with Todd Vingers, CFA, who serves as president of the recently launched Leeward Investments. All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. 

In this episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart is joined by Maribeth Rahe, president and chief executive officer of Fort Washington Investment Advisors, Inc. As one of the largest investment advisors in Ohio with approximately $72 billion* in assets under management, the firm provides professional and comprehensive asset management services for institutions, corporations, insurance companies, mutual fund providers, foundations, endowments and high-net-worth individuals.  During their conversation, Burkhart and Rahe discussed:How being a wholly owned subsidiary of Western & Southern Financial Group has benefited Fort Washington and how the background and values of the leadership of Western & Southern have created alignment between the two companiesRahe’s approach to inorganic growth and her creative ways of determining if a firm is a cultural fit with the potential for a long-term partnershipThe asset classes where Rahe is seeing increased demand in the short-termThe trends in the industry that Rahe is watching, including the return to in-person work and its impact on mentorship and leadership development At the conclusion of their conversation, Rahe provided her insights on the factors that have contributed to Fort Washington’s decades of stable and sustainable growth. “This year will be the 135th anniversary of our parent company Western & Southern Financial. We’ve grown sustainably over those years. We’re long-term investors, we believe in long time horizons, and we believe in career paths for our individuals,” Rahe shared. “We don’t follow the latest fad and we do what we think is right for the business.” All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *Approximate AUM for Fort Washington Investment Advisors at the time of recording.

As we shared at the end of the year, the Global Investment Leaders podcast is expanding to include a new sub-series called How They Did It, hosted by Rosemont Managing Director Brad Mook. How They Did It will feature bi-monthly interviews with industry leaders about how they solved certain strategic challenges. Our goal is to tap the insights of our network of industry insiders to help others that may be facing similar challenges. The first episode of the How They Did It sub-series discusses management buyouts, or MBOs, which are rarely successfully executed in the modern investment industry. In this episode, Mook interviews Todd Vingers, CFA, who serves as president of the recently launched Leeward Investments, a Boston-based institutionally-focused long-only equity manager featuring US small-, SMID-, and mid-cap value strategies. In their conversation, Mook asked Vingers about the context, motivation and mechanics behind Leeward’s MBO. While many would like to spin out or buy out their franchise, it is often harder than it looks and there is little in the way of guidance with how to proceed. To help those who may be considering becoming independent of a parent organization, Vingers shared about his background at his prior firm, LMCG, where he spent 20 years establishing and building the value team. Mook and Vingers also discussed the many factors Vingers and his partners considered when forming Leeward, including:What led Vingers and his partners to seek independence, despite having a successful business and significant resources and infrastructure How evolving into a 100% employee-owned entity opened up opportunities that were not available under the previous ownership structure The extended timeline to reach a negotiated transaction with their parent organization and why they did not consider other alternativesThe key issues coming out of the negotiation, from people to pricing to the structure of the dealThe critical components of setting up Leeward to be an immediate success, including which functions remained in-house and which were outsourcedThe strategy Vingers and his team used to communicate the transition to clients, which led to 93% revenue retentionAll episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In this special year-end episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart is joined by Rosemont Managing Director Brad Mook for a conversation about the challenges and opportunities investment management firms are facing in today’s environment. From their unique vantage point of partnering with many firms over multiple market cycles, Burkhart and Mook discuss:Deal activity in the industry and how the market dynamics have changed for both wealth management and asset management deal-makingChallenges management teams of investment businesses face in today’s uncertain, rising-rate environment, including managing expenses, acquiring and retaining talent, and ensuring alignment among team membersTheir advice for those considering starting their own firms from scratch or going independent, and alternate options such as merging with a well-established firm How demand for ESG investments is shifting amid political and regulatory headwinds and the importance of authenticity for mission-driven investorsA lightning round on the important issues in the industry today, including strategies for uncertain markets, the future of crypto, cybersecurity, and diversity and inclusion in the investment management industryIn addition to the year-end discussion, Burkhart and Mook also shared an exciting update for the Global Investment Leaders podcast in the year ahead: In 2023, Mook will be joining Burkhart as a podcast host, featuring a bi-monthly interview with industry leaders about how they solved common challenges faced by many of their peers. Mook’s How They Did It sub-series of the Global Investment Leaders podcast will feature industry insiders’ perspectives and is set to premiere in January.  All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

On this episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart is joined by Dave Fulton, Chairman and CEO of Clearstead, a Cleveland-based institutional and private client advisory firm that has been constructing globally diversified portfolios for individuals, families, foundations and endowments since 1987. Known for its in-depth investment research and personalized wealth management, the firm advises on approximately $32 billion in assets.* Throughout their conversation, Fulton, who became Clearstead’s CEO in 2013, discussed the choices Clearstead faced around equity succession as the firm’s founder stepped down and new generations of talent sought to build the future of the firm in a scalable, sustainable way. Seeking an outside partner to provide not only capital but also guidance, Clearstead turned to Rosemont. Recounting the challenges they navigated together, Burkhart and Fulton discussed:The transformation from Hartland & Co., an institutional investment consultant, to Clearstead, a full-service wealth and institutional advisory firmThe growth-supporting enhancements the firm made during the pandemic, from investing in the research and operations teams to developing the firm’s alternatives (private) investment platform to expanding opportunities for employee ownershipClearstead’s employee ownership culture and how, after Rosemont’s investment in 2017 followed by an investment by Flexpoint Ford in early 2022, employee ownership continues to be in high demandThe success of the outsourced chief investment officer (OCIO) service offering of the business and the types of endowments and foundations Clearstead servesThe key business pillars by which Clearstead operates, and the willingness to invest in people, processes and technologies  When speaking about the firm’s continued success of its employee ownership culture and its trajectory for the future, Fulton shares, “You have to keep growing, and you have to have a way for people to keep buying in at below-market rates.” All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *Approximate assets under advisement (AUA) of Clearstead as of 12/31/2021This podcast should not be considered as an endorsement of Clearstead Advisors or Rosemont or the services that they provide. Neither Clearstead nor Rosemont were paid for the comments in this podcast. Rosemont had a minority equity ownership in Clearstead, which ended prior to this recording.

On this episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart was joined by Chris Mackay, Director of Client Service & Marketing at 1607 Capital Partners, a $4 billion* Richmond-based boutique asset management firm offering equity and fixed income closed-end fund portfolios. With a bottom-up, value-oriented approach, 1607 Capital Partners trades closed-end funds and other discounted assets based on a proprietary system developed and refined over 25+ years.  Throughout their conversation, Burkhart and Mackay discuss:The definition of closed-end funds and how they have been a reliable source of excess returns in portfolios over timeThe genesis of the firm’s investment strategy and the compelling opportunity the firm’s founding partners saw in the closed-end fund nicheThe evolution of 1607’s investment process, which Mackay notes has benefited from meaningful advances while still focusing on the same core strategyThe client base at 1607—which primarily includes institutional clients such as endowments, foundations and pensions—and the long-term relationships the firm maintainsThe company’s approach to attracting and retaining talent, including the purpose behind the firm’s employee ownership and why it intends to retain its independence to ensure long-term successWhen it comes to the firm’s growth strategy, Mackay emphasizes the importance of growing thoughtfully, systematically and slowly to maintain the level of returns and client service for which the firm is known. Mackay explains that while the firm‘s technology has become increasingly sophisticated, the subject matter expertise of its investors is a differentiating factor that helps it take advantage of volatility to build portfolios of closed-end funds trading at discounts to their long-term averages. All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *Approximate AUM of 1607 Capital Partners at time of recording 

In this episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart is joined by Rick Hough, CEO of Silvercrest Asset Management Group, a leading US wealth management firm with approximately $29 billion in assets under management.* Founded in 2002, Silvercrest provides traditional and alternative investment advisory and family office services to wealthy families, institutional investors and endowments.  Prior to becoming CEO, Hough worked closely with Silvercrest Founder Moffett Cochran to build the business and execute the firm’s strategy, with roles as president and chief operating officer. Cochran’s goal from the beginning was to create a publicly traded company, and Hough has executed that vision capably throughout his tenure.  During their conversation, Hough and Burkhart discuss Silvercrest's evolution and defining characteristics, the benefits and challenges publicly traded investment firms face, and Hough’s thoughts on Silvercrest’s future.  Listen to learn more about: Hough’s unique background in the nonprofit world and what led him to Silvercrest Silvercrest’s hybrid architecture and the investment engine driving returns for clients How Silvercrest delivers institutional quality investment skills, a conflict-free model and exemplary client service in an increasingly crowded and competitive landscape Why Silvercrest became – and remains – one of the few publicly traded wealth management firms Hough’s leadership orientation and how he spends his day as CEO at Silvercrest  When it comes to Silvercrest’s near- and long-term aspirations, Hough balances innovation with remaining focused on protecting the generations of capital with which the firm is entrusted. “Being conservative with capital does not mean you're unable to innovate…and there are a number of ways you can innovate on behalf of clients.” Hough cites technology as an important focus that is improving and deepening client relationships.  All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *Silvercrest Asset Management Group’s AUM at time of recording