Investment Consulting

Advisory Services

Our investment philosophy is to combine theoretical research with empirical evidence to develop practical solutions that our clients can easily and effectively implement. In developing and implementing clients’ investment policies, we emphasize risk control and cost management.

The consulting services in the full-retainer relationship include:

  • Review of current investments
  • Asset allocation studies, including asset/liability valuation analysis
  • Assistance with development and maintenance of investment policies
  • Performance of asset class analysis and structuring
  • Assistance in working with investment managers
  • Conducting investment manager searches and making recommendations for any changes, including additions/removals/replacements
    • Public market managers
    • Alpha transfer programs
    • Commingled real estate
    • Fund of funds private equity
    • Fund of funds hedge funds
    • Investment manager fee negotiation
  • Assistance with custodial and other vendor searches
  • Structuring of objectives and guidelines
  • Participating in investment manager meetings
  • Attendance at meetings with the investment committee and /or Board
  • Reporting of quarterly performance measurement
  • Provision of access to Wilshire's topical research reports
  • Participation in Wilshire's annual client conference
  • Customized client education

A brief description of the services provided by Wilshire Consulting is offered below:

Asset Allocation - strategic and tactical
Industry research and our experience prove that the asset allocation decision has the greatest impact on a portfolio's long-term return and risk profile. Wilshire embraced this important concept over 30 years ago when the firm introduced an integrated asset/liability modeling technique to the industry. Since that time, Wilshire has added to its asset allocation credentials by performing thousands of asset allocation studies and continually evaluating and enhancing our methodology. 


Plan Governance

Wilshire has assisted plan sponsors with developing and implementing appropriate governance policies and structures since our inception in 1981. This involves performing fiduciary audits, conducting industry wide surveys as well as assisting clients in determining the optimal governance structure, communication and reporting lines and roles and responsibilities for the various plan fiduciaries (i.e., staff, investment committees, Board trustees, investment managers, consultants, etc.). 

Investment Policy development
Wilshire Consulting has over 25 years of experience in developing investment policies, procedures and guidelines for our clients. Investment policy and guidelines are integral to all aspects of Wilshire's investment consulting services.

Investment manager research and review (indicate asset classes covered) 
Investment manager research is an integral part of Wilshire's consulting services. As a leading consulting firm focused on providing services to large corporate, public, and endowment fund sponsors, we closely monitor all "institutional quality" money management firms, both domestic and foreign-based. Wilshire's manager research professionals are seasoned investment professionals such as former portfolio managers and investment analysts and who follow a disciplined, objective approach to evaluating investment management firms.

Performance measurement, analysis and reporting 
Performance measurement, analysis and reporting are integral to our consulting process in that we view this function as the means for determining the success of our clients' and our decision making and whether investment objectives are being met sufficiently. Wilshire possesses sophisticated analytical tools which are all proprietary and unique to Wilshire and which enable us to provide the client truly independent, in-depth analysis of the respective investment managers and strategies being employed by the client, including esoteric bond and derivative instruments. 

Asset Liability Analysis 
Wilshire has extensive experience in providing clients with ongoing advice and specific analyses for effective liability management. Wilshire utilizes all internally developed proprietary asset/liability models which can be customized based upon our clients' respective needs and benefit structures. Wilshire Consulting also maintains a full time, dedicated staff of actuaries and mathematicians to ensure the appropriate level of integrity and rigor is employed in the analysis of a client's liabilities, along with producing highly customized potential solutions and scenarios to meet each client's unique plan needs. 

Plan design and manager monitoring 

Wilshire has built robust proprietary investment structure (i.e., plan design) analytics in-house which enables us to assist our clients in the development of risk budgets for individual asset classes as well as at the total fund level as well as develop optimal manager structures. Our investment structure capabilities enable us to perform "what-if" analysis to determine what varying mixes of active and passive strategies produce in terms of expected alpha and tracking error. Additionally, these capabilities enable us to see in a real time fashion what improvements to the overall asset class might be possible from changes being contemplated by the client.

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