Monticello Associates is an independent asset management-consulting firm. The firm is headquartered in Denver, CO, on historic Larimer Street, with an additional office in Cleveland, OH.
Monticello Associates has provided highly specialized, research-driven services to its clients for nearly 25 years. The firm was founded by B. Grady Durham in 1992.
The firm provides a variety of asset management consulting services, including developing investment policies and objectives, analyzing asset allocation and diversification, researching investment managers for client selection, providing due diligence and performance monitoring of managers, and supplying periodic performance reports.
No. Monticello has no subsidiary or affiliate relationships and has no ties to any brokerage firms. The firm does not sell any products, nor does it provide consulting services to investment managers or offer investment banking services.
Monticello works primarily with endowments, foundations, and high net worth individuals, including many of the most prominent museums, hospitals, schools and families in the United States.
As of December 31, 2015, Monticello works with 165 client relationships representing approximately $77 billion dollars in assets under advisement.
The firm consists of 50 employees. With a deliberate low client-to-employee ratio, Monticello
Associates maintains a level of personal service found nowhere else in the industry.
- B. Grady Durham, Founder and President
- Carla Beal, CPA, Managing Director
- Montgomery C. Cleworth, CFA, Managing Director
- Steven E. Halvorsen, CFA, Managing Director
- Brian P. Harrigan, CFA, CPA, Managing Director
- Jennifer M. Kilpela, CFA, Managing Director
- J. Eric Riedlin, CAIA, Managing Director
- Jeffrey D. Sletten, Managing Director
- Patrick F. Sullivan, Managing Director
- Andrew G. Terborgh, Managing Director
- Kevin A. Zimmerman, Managing Director
No. Monticello does not have custody of client funds or securities, nor does it accept discretionary authority to manage securities accounts on behalf of clients or authority to vote client securities.
Monticello recommends investment managers to its clients based heavily on research and performance. The firm’s professionals evaluate investment managers based on two main components: investment merit, which includes both a quantitative and qualitative analysis, and operational capability. Managers ultimately selected offer numerous types of investments, including hedge funds, mutual funds, and private equity funds.
The firm derives 100% of its revenue from the consulting fees it charges clients. Monticello’s consulting fee does not include investment management fees, transaction costs, or custodial fees that are charged by other service providers. Neither Monticello nor its employees accept performance based fees.
Monticello prepares in-depth performance measurement reports for its clients on a quarterly basis, as requested. These reports also include information regarding asset allocation and risk analysis. The reports are presented to clients by Monticello’s Investment Consultants.