Wilshire Consulting Launches New Manager Diversity Initiative

Feb 5 2018 | 1:47pm ET

Wilshire Consulting has today announced a new inclusivity initiative to deliver fresh perspectives to client portfolios and promote greater manager diversity.

Wilshire Consulting is the institutional investment advisory and outsourced-CIO (OCIO) business unit of Wilshire Associates.

The firm has adopted this initiative in recognition of the increasing desire amongst its clients to enhance the diversity of the investment management firms represented in their portfolios, according to a press release.

The following five changes have implemented:

  • Wilshire Consulting will now include at least one diverse-owned firm in every public securities manager search it conducts for advisory clients, where products are available that fit the client mandate. 
  • A statistic representing the percentage of ownership held in firms by women or minorities will now be included in Wilshire Consulting’s standard search books. 
  • Wilshire Consulting has changed its compensation system such that one of the qualitative criteria for senior consultants for incentive compensation is the quality and level of interaction with diverse-owned firms. 
  • Wilshire Consulting has renamed its “Emerging Manager Asset Class Committee” to the “Diverse Owned Manager Asset Class Committee.” 
  • In order to provide additional support, Wilshire Consulting plans to broaden its diverse-owned manager outreach and create a series of educational seminars for this group in 2018. 

“Women and minorities remain underrepresented in our industry, and ensuring that clients are aware of the many talented firms led by these managers is a priority for Wilshire Consulting,” President of Wilshire Consulting Andrew Junkin noted in a statement.

Wilshire Consulting provides custom investment consulting solutions to fund sponsors. Including its endowment, foundation and major insurance company clients, the firm consults on combined total assets of nearly $1 trillion.

Based in Santa Monica, California, Wilshire Associates is an independent investment consulting and services firm that provides consulting services, analytics solutions and customized investment products to plan sponsors, investment managers and financial intermediaries. The firm represents more than 500 organizations with a total asset of approximately $7 trillion.

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