Brinker Capital at FSI OneVoice 2017 in San Francisco

Noreen D. BeamanNoreen D. Beaman, Chief Executive Officer

Brinker Capital is proud to be a Premier Sponsor of the Financial Services Institute’s OneVoice 2017 conference in San Francisco, California for the fourth year. This annual gathering provides meaningful education and networking opportunities for members of the independent broker-dealers we serve.

In this atmosphere of uncertainty and opportunity, a significant portion of this year’s agenda is focused on the DOL Fiduciary Rule and its implications to our business. As an industry, we are all facing challenges to address this new rule and need this opportunity to collaborate to find the best solutions for our businesses.

For 30 years, Brinker Capital has acted as an ERISA 3(38) fiduciary to serve in the best interests of our clients. Brinker Capital’s purpose since 1987 has been to implement the ideas of diversification through multi-asset class investing with a disciplined investment approach. By continually enhancing and applying these principles, we strive to deliver better outcomes for financial advisors and their clients.

Brinker Capital is pleased to be a part of a pre-conference workshop on Monday, January 23 that focuses on helping women advance leadership roles within our industry. We will also participate in session tracks that impact our business in the year ahead. On Tuesday, January 24 at 8:00 am, Roddy Marino, EVP of National Accounts and Distribution, will be on a panel discussing the impact of the DOL Fiduciary Rule on independent firms’ fee-based platforms. On Tuesday at 1:30 pm, Avery Cook, SVP of Managed Products and Solutions, will share insights on comprehensive due diligence practices for independent firms. And, as part of the CEO Track on Tuesday at 9:30 am, I will be moderating the “Shifting Sands of Revenue in a Post-DOL World” panel discussion with guests David Canter, EVP of Practice Management and Consulting at Fidelity Clearing & Custody Solutions, Lori Hardwick, COO of Pershing and Susan S. Krawczyk, Partner at Sutherland Asbill & Brennan LLP.

Follow FSI and the event on social media: @FSIwashington #OneVoice17

Thanks for the opportunity FSI, we’re looking forward to a great event!

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Nix the Mixed Emotions About Retirement

cook_headshotPaul Cook, AIF®, Vice President and Regional Director, Retirement Plan Services

The future holds many uncertainties, leaving us to often have mixed feelings when thinking about retirement. Even if you feel more than ready, on an emotional level, to move to the next phase of your life, you may have some uncertainty about whether you will be able to maintain the lifestyle you wish.

Last week in Roddy Marino’s Eight Signs You Are Ready to Retire, he shared some useful statistics from an Ameriprise Financial survey that address this notion of mixed emotion. Close to 50% of respondents felt they were ready to retire, but admitted that there was still some concern. 21% admitted more bluntly that they felt uncertain or not ready at all. Suffice it to say that a large portion, about 63%, of newly retired boomers said they felt stressed about retirement leading up to the decision.[1]

We’ve talked before about how your physical health can impact your retirement, but let’s take another approach and look at six financial certainties that may help to lower your stress and avoid some of the mixed emotions about retirement.

  1. You will need cash. Throughout your retirement journey, you will need quick access to your money. Typically, you will need enough liquidity to cover two years’ worth of anticipated living expenses.
  1. The quicker you spend, the shorter it will last. Your predictable expenses may total up to, for example, $2,000 a month. But how many years could you go on spending $24,000? The impact of spending on your portfolio becomes clear once you determine a spend-rate. For example, if you had $500,000 in a retirement savings account and withdrew $2,000 a month, the portfolio would last 20-29 years. A $500 reduction in spending, however, could result in 9-15 more years of longevity for the portfolio.
  1. The money not needed to cover expenses must be invested…wisely. While you can’t control the markets, you should feel confident that your investments are managed with skill and integrity. Choose an investment advisor with whom you have a trust and have a high level of confidence.
  1. Eventually, you will run out of cash and need more. One of the tricky parts of managing your money in retirement involves knowing how to create an income stream from your portfolio. You need to figure out which assets to take distributions from, and when. To ensure that each of your assets performs optimally, you must conduct a careful technical analysis and evaluate moving market trends. If you are like most retirees, you could benefit from having an expert perform this service for you so that you can have confidence that you are benefiting from all possible market and tax advantages.
  1. You’ll make more confident decisions if you know how your investment performance and expenses measure against your goals. Throughout your retirement journey, it is helpful to know where you stand against your goals. If your overall goal is to outlive your savings, then you should have a system in place that helps you contextualize your spending and its relative impact on long-term goals.
  1. Markets are volatile. When markets fluctuate, many investors feel like all semblance of control over their financial future is lost. Having a well-diversified portfolio may help to smooth the ride and reduce some of the emotions of investing.

If you approach retirement by developing an income solution that addresses each of these known facts, you can feel as if you are on more solid ground to enjoy your retirement.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.


[1] Ameriprise Study: First Wave of Baby Boomers Say Health and Emotional Preparation are Keys to a Successful Retirement, February 3, 2015

Eight Signs You Are Ready to Retire

Roddy MarinoRoddy Marino, CIMA, Executive Vice President
National Accounts & Distribution

New England Patriots quarterback is famous, and infamous, for a number of things both on and off the football field. His stance on retirement, however, is a personal favorite. When asked when he will retire, the then 37-year old quarterback said, “When I suck.”

Brady has the benefit of stats, sacks and millions of armchair quarterbacks to tell him when it’s time for him to hang up his cleats, but the decision to retire isn’t as clear for most Americans.

According to a survey conducted by Ameriprise Financial, nearly half of retirees (47%) felt ready to retire, but approached it with mixed emotions. 25% of the people surveyed said they could hardly wait for retirement, but nearly as many (21%) felt uncertain or felt that they were just not ready.[1]

If you are among the group of pre-retirees who feel uncertainty, here are eight signs that will help you decide if the time is right for you to consider retirement:

  1. shutterstock_447538888You are emotionally ready. Choosing when to retire has as much to do with emotions as it does finances. The transition from a full-time job that, for many, shaped their identity, to life with less structure can be scary. According to the Ameriprise study, losing connections with colleagues (37%), getting used to a different routine (32%), and finding purposeful ways to pass the time (22%) pose the greatest challenge for the newly-retired. Despite these challenges, 65%say they fell into their new routine fairly quickly, and half (52%) report to having less time on their hands than they would have thought.
  2. You’ve paid down your debt. Debt represents a key barometer in retirement readiness. If possible, you will want to keep working until your high-interest credit card debt, personal loans or auto loans have been satisfied—or you have a plan to retire such debt.
  3. You have an emergency fund. It’s important to plan in advance for how you will address emergencies, big and small, in retirement. The same survey revealed that 90% of Americans have endured at least one setback that harmed their retirement savings. Setbacks vary from caring for adult children, to college expenses stretching over six years instead of four. Others include loss of a job, assisted living expenses, and disappointing stock performance. As the survey indicates, unexpected life events cost the retirement accounts of the respondents $117,000 on average. An emergency fund can serve to prevent you from having to resort to retirement savings during hard financial times.
  4. You know what it’s going to cost. Some people believe they will enjoy a significant decrease in post-retirement expenses; however, that may not be the case. Instead, many retirees experience trade-off in expenses. For example, instead of daily commute costs, retirees may take longer trips thereby canceling out any savings in transportation expenses. Most retirees’ expenses follow a U-shaped pattern. For the first few years, the expenses mimic pre-retirement expenses, then as the retiree settles in, expenses dip only to rise as health care costs kick in.
  5. You know how you will create income. Much of retirement planning involves asset accumulation, but it is equally important to figure out what assets to tap, and in what order. Your income plan should include a decision on when you will elect to receive Social Security benefits. It should also take into consideration all sources of income including fixed, immediate, and indexed annuity strategies, pensions, and even your house. It should also address the timing as to when and you will withdraw income from all potential sources.
  6. Your children have their financial lives in order. Family dynamics play a significant role in shaping one’s retirement experience, yet are often overlooked during the planning process. Many retirees do not anticipate or underestimate the financial toll associated with providing financial support to their adult children. If you are thinking of retiring and still have a financially dependent child, consider establishing parameters for the arrangement, set expectations, and deepen the child’s understanding and appreciation of what is at stake for you.
  7. You have prioritized your health. When it comes to determining retirement well-being, health is typically more important than wealth. Retirees in better health have the added peace of mind that comes from financial security. They tend to enjoy retirement more, feel fulfilled and are not as prone to negative emotions as their less healthy counterparts.[2] For most, health care costs top the retirement expenses charts so your ability to pay for medical care you will eventually need should be a key consideration. Healthy habits and preventive medical treatment before retirement can help to serve as a cost-containment measurement as well as a lifestyle booster.
  8. shutterstock_128132981Someone you trust can help you make your financial decisions. A trusted advisor is invaluable throughout your retirement journey. He or she can help you manage your retirement portfolio to meet your preservation and growth objectives, help you establish an income strategy matched to your spending needs, and track your spending versus assumptions. If a crisis arises, a trusted financial advisor will already know your financial history and can help make decisions that are in your best interests. Similarly, it is extremely helpful to have a trusted advisor relationship solidified in the event your cognitive abilities decline, and you need help with decisions.

[1] Ameriprise Study: First Wave of Baby Boomers Say Health and Emotional Preparation Are Keys to a Successful Retirement, 2/3/15: http://newsroom.ameriprise.com/news/ameriprise-study-first-wave-baby-boomers-say-health-and-emotional-preparation-are-keys-to-successful-retirement.htm

[2] Health, Wealth and Happiness in Retirement, MassMutual. 3/25/15

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Stress Contagion, the DOL and You

Crosby_2015Dr. Daniel Crosby, Executive Director, The Center for Outcomes & Founder, Nocturne Capital

Yawn.

YAWN.

Yaaaaaawwwwwwn.

Are you yawning after reading this? I’m fighting back the urge myself after writing the word three times—what gives? The answer to this extreme suggestibility lies with what scientists call mirror neurons—neurons that fire when an action is being performed and when that same action is being observed. The original discovery of mirror neurons took place in a sleepy, somewhat overlooked research lab in Parma, Italy. Scientists there were studying the brains of macaque monkeys in an effort to understand how the brain organizes motor behavior. As Martin Lindstrom explains, the scientists quickly discovered some things that challenged their assumptions about how the brain works:

“They observed that the macaques’ pre-motor neurons would light up not just when the monkeys reached for that nut, but also when they saw other monkeys reaching for a nut.” (Buyology)

Whether an action was performed by the monkey or merely observed, the effect on the brain was identical.

Stranger still was what they observed one sweltering afternoon when a graduate student on the team entered the lab with an ice cream cone. One of the monkeys, still hooked up to the monitoring apparatus, was staring greedily at the frosty treat. As the student brought the ice cream closer for a lick, the macaque’s pre-motor region began lighting up the screen:

“It hadn’t moved its arm or taken a lick of ice cream; it wasn’t even holding anything at all. But simply by observing the student bringing the ice cream cone to his mouth, the monkey’s brain had mentally imitated the very same gesture.” (Buyology)

shutterstock_153551429Mirror neurons are the reason why you cry in a sad movie, cringe at the sight of someone else eating something gross, or close your eyes when the chainsaw-wielding local stumbles upon the unsuspecting group of college kids at the lake house. Mirror neurons are why “unboxing” videos exist (seriously, it’s a thing), because it’s nearly as fun to watch someone else open a new gaming system or expensive toy as it is to do it ourselves. To truly apply this learning, give your children a video of other children opening presents at their next birthday party and tell them Dr. Crosby told you it’s more or less the same thing!

At this point you as a financial advisor may be thinking, “this all makes sense” and simultaneously wondering, “what does this have to do with me and my work?” It has been my anecdotal experience that just as married couples tend to resemble one another over time, the clients of financial advisors tend to behave much like the advisors with whom they work.

There may be some self-selection at work here but even more powerful are the cues that clients take from their advisors with each interaction. If your office has CNBC on loop and is stockpiled with magazines devoted to the hot stocks du jour, don’t be surprised when clients lead with griping about performance instead of sticking to their plan. Likewise, if you telegraph panic and are prone to complaining about politics and capital markets, don’t be surprised when your own fears land on your doorstop in the form of hand-wringing clients.

shutterstock_108406256The DOL’s “conflicts of interest” rule was announced yesterday, and with that will come the questions and uncertainty inherent in any new piece of legislation. Bearing in mind the concept of stress contagion, I would encourage you to consider the ways in which your clients will look to you as a leader and follow your example when sifting through their own feelings about this legislation in general and your value to them in specific. Change, it would seem, is coming, but one of the core beliefs of The Center for Outcomes is that periods of disruption provide opportunities for differentiation for the truly prepared. Whatever changes may come, your value to your clients and your position as a leader are steadfast and must be positioned as such.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Personal Benchmark was Made for Days Like This

Crosby_2015Dr. Daniel Crosby, Executive Director, The Center for Outcomes

Chuck Widger and I released our New York Times bestselling book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, on October 20, 2014. Although the book was published in 2014, the writing process began in 2013, and Chuck’s original idea for a goals-based investing system is much older still. Both 2013 and 2014 were great years to be invested, with the S&P 500 returning 32.39% and 13.69% respectively. But although Personal Benchmark was crafted in a time of prosperity it was created with an eye to days just like today.

What is needed during times of fear is an embedded solution that helps clients say “no” to short-termism and say “yes” to something bigger.

As we wrote in the book, “While investor awareness and education can be powerful, the very nature of stressful events is such that rational thinking and self-reliance are at their nadir when fear is at its peak.”

Financial advisors do their clients a great service by educating them about investing best practices, but at times of volatility, logic is often thrown out the window. What is needed during times of fear is an embedded solution that helps clients say “no” to short-termism and say “yes” to something bigger.

When presented with an extremely complicated decision, it is human nature to seek simplicity, something psychologists refer to as “answering an easier question.” Rather than deeply consider and weight the relative importance of social, economic and foreign policy positions, voters tasked with choosing a Presidential candidate tend to instead answer, “Do I like this person?” Confronted with a complex dynamic system like the stock market, the easier question that we ask ourselves is, “Am I going to be OK?” Part of the power of the Personal Benchmark solution is that it helps clients answer this important question in the affirmative.

bookOur book discusses the human tendency to engage in “mental accounting”, the psychological partitioning of money into buckets and the corresponding change in attitudes toward that money depending on how it is accounted for. Page 154 features the story of Marty, a Philadelphia-area gang member who separated his money into “good” and “bad” piles depending on whether it was honestly or ill-gotten. Marty would tithe to his local church using the good money, but reserved his bad money for reinvestment in his criminal pursuits. Although we are hopefully all more civic-minded than Marty, we are no less likely to label our money and spend, invest and think about it relative to that label. One huge advantage of Personal Benchmark the solution is that it sets aside a dedicated “Safety” bucket for days just like today. When a client asks herself, “Will I be OK?” she can take comfort from the fact that her advisor has accounted for her short-term needs. Being comforted in the here-and-now, she will be less likely to put long-term capital appreciation needs at risk.

“While investor awareness and education can be powerful, the very nature of stressful events is such that rational thinking and self-reliance are at their nadir when fear is at its peak.”

Besides helping clients say “no” to short-termism, Personal Benchmark also helps advisors paint a more vivid, personalized picture of return needs. Page 203 of Personal Benchmark tells the story of Sir Isaac Newton, who lost a fortune by investing in what we now refer to as the “South Sea Bubble.” Newton invested some money, profited handsomely and eventually sold his shares in the South Sea Company. However, some of his friends continued to profit from their investment in South Sea shares and Newton was unable to sit idly by and watch people less gifted than he accrue such fantastic wealth. Goaded on by jealousy, he piled back in at the top and lost almost everything, saying after the fact, “I can calculate the movement of the stars, but not the madness of men.” Newton’s failure is a direct result of anchoring his benchmark to keeping up with his friends instead of attending to his own needs and appetite for risk. If Personal Benchmark’s Safety bucket is for providing comfort today, then the Accumulation bucket is a vehicle for rich conversations about the dreams of tomorrow. As clients simultaneously manage their short-term fears and identify their long-term goals, they are able to experience the best of a goals-based solution.

Personal Benchmark was created in a time of comfort and even complacency on the part of some investors, but was done so with a perfect knowledge that there would be days like this. At Brinker Capital we believe that an advisor’s greatest value is providing “behavioral alpha”, increasing returns and mitigating risk through the provision of sound counsel. Our goal is to be your partner in that sometimes-difficult journey and Personal Benchmark is evidence of that commitment.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Brinker Capital at FSI OneVoice 2016 in Orlando

Noreen D. BeamanNoreen D. Beaman, Chief Executive Officer, Brinker Capital

For the third year, Brinker Capital is proud to be a Premier Sponsor of the Financial Services Institute and at the 2016 OneVoice conference in Orlando, Florida next week. This annual gathering is so valuable to us and our strategic partner firms by giving the opportunity to network and learn about the latest within our industry.

During the past few years, we have seen an evolution within the financial services industry. Advisors are now working with third-party providers who integrate their portfolios, practices and reporting. They are no longer simply just offering investment recommendations but changing the conversation with clients and how they deliver investment advice. In addition, they must keep abreast of regulatory changes that are happening within the industry and determine how their practices may be affected.

Brinker Capital understands these changes, and challenges, and is committed to creating a meaningful experience for both advisors and investors, regardless of how our products are accessed. To help our advisors, we work with industry leaders, law firms and custodians to identify how the latest fiduciary rule may impact their business and how we can best serve clients. We are focused on providing advisors with the tools, technology and resources to have more effective conversations with clients and help them embrace goals-based wealth management.

For nearly 30 years Brinker Capital has been committed to being the best strategic partner to financial advisors by bringing accountability, dependability and innovation to every aspect of our business. I am honored to be a part of this year’s Women are from Venus: The Changing Demographics of Women in the Industry and as Clients panel and look forward to an exciting discussion.

Looking forward to connecting with many of you in Orlando!

Brinker Capital, Inc., a Registered Investment Advisor

10 Surefire Ways to Ruin Your Financial Future

Crosby_2015Dr. Daniel Crosby, Executive Director, The Center for Outcomes

It’s been a brutal day, a long week, and just an overall rough start to the year for the markets. To head into the weekend on, hopefully, a lighter note, I’m taking a tongue-in-check approach to the irrational investor mindset:

  1. Ignore the impact of your behavior – Over the last 20 years, the market has returned an average of 8.25% per annum, but the average investor has gotten just over 4% of that due to poor investment behavior. But making prudent decisions is much less interesting than say, trying to time a bottom in oil prices, so by all means allocate your efforts there.
  2. Trust your gut – A meta-analysis of rules-based approaches to making decisions found that following the rules beats or equals trusting your gut 94% of the time. You know what you should be doing (stay the course, dollar-cost average, etc…), but rules are boring, so just do what feels right with your money!
  3. Live for right now – The worst ever 25-year return for stocks (that included the Great Depression) was 5.9% annualized. But patiently planning over an investment lifetime is sooo tedious, so be sure to check your stocks every single day, where you will see red about 45% of the time.
  4. Do as much as possible – When things get scary it feels good to act, right? Right. Disregard the research that shows that the most active traders in Sweden underperformed their buy-and-hold counterparts by 4% a year. Instead, freak out and sell everything!
  5. Equate volatility with risk – Stocks outperform other asset classes by about 5% annualized after adjusting for volatility, but the ups and downs can be a lot to handle! Volatility also provides opportunities to buy once-expensive names at a bargain. But go ahead and ignore all of the upside to volatility and do something “safe”, like buying treasuries that don’t keep up with inflation and lose real dollars every year.
  6. Go it alone – Aon Hewitt, Morningstar and Vanguard all place the value of financial advice at anywhere from 2 to 3% per year in excess returns, but don’t let that stop you. With multiple 24/7 news channels and hysteria-inducing magazines available to you, who needs personalized advice?
  7. Try and beat the benchmark – You could argue that beating an impersonal market benchmark like the S&P 500 has nothing to do with your goals or risk tolerance, but that takes all the fun out of it! Just go watch “The Big Short” and pick up a few pointers there.
  8. Read every article that mentions “recession” – The U.S. economy has been in a recession nearly 20% of the time since 1928, meaning that the average investor will experience 10 to 15 recessions over their lifetime. But by all means, read every scary article that you can rather than accepting the historical trend that recessions are a common occurrence and haven’t materially impacted the long-term ability of the market to compound wealth.
  9. Tune in to dramatic forecasts – David Dreman found that roughly 1 in 170 analyst forecasts are within 5% of reality and Philip Tetlock’s examination of 82,000 “expert” predictions shows that they barely outperform flipping a coin. So, ignore the robust body of evidence that says no one can predict the future and pick a market prophet to follow.
  10. Ignore history – JP Morgan reports that the average intrayear drawdown over the past 35 years has been just over 14%, a number we haven’t yet reached in 2016. What’s more, the market has ended higher in 27 of those 35 years. Forget the fact that the horror of 1987’s “Black Monday” (a 22.61% single day drop in the Dow) actually ended in a positive year for stocks. Ignore historical suggestions that double-digit volatility is the norm and instead imagine vivid Doomsday scenarios that leave you in financial tatters.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Even in our Frenzied Industry, Shakespeare’s Voice Shines Through

Noreen D. BeamanNoreen D. Beaman, Chief Executive Officer, Brinker Capital

If you’re like me, then you have spent the last few weeks forcing helping your high schooler with his or her summer reading. In doing so, I came across a Shakespeare quote I haven’t seen in a few years, yet seemed apropos to the current climate of our industry—“Cry ‘Havoc!’ and let slip the dogs of war.” (Bonus points if you can name the play this quote is from).

The phrase itself characterizes victorious soldiers seeking spoils from a fallen foe. While poignant, advisors in the throes of the Curian aftermath are feeling like they are on the wrong side of the leash!

At Brinker Capital, I felt the foremost action our team needed to take was to be available to support financial advisors and their clients. Not to hit them over the head with how great we are, but to talk with them and understand how Curian’s offering benefited them and the goals of their clients.  We knew Curian had an impactful offering and sales culture, but we wanted to dig deeper. Our recent hire of Greg Verfaillie confirmed what we already believe at Brinker Capital.  As he expressed in his interview in RIABiz, “In the conversations I’ve been having with advisors, it’s clear this decision is not going to be made on product or platform; it’s about the relationship.”

Greg has given us insight into what attracted advisors to his former firm, the type of support that they found meaningful and what partnership means to them.  This has guided us in effectively providing the right portfolio alternative, strategically communicating so advisors can convey the right message to their clients, and most importantly, being respectful of the process they are engaging in when seeking a successor firm for their clients’ assets.

With our 28-year history and our dedication to understanding the needs of advisors, we are ready to help provide solid support and smooth transitions throughout this frenzied process. After all, as our aforementioned poet once said, “Experience is the teacher of all things.”

The views expressed are those of Brinker Capital and are for informational purposes only. Brinker Capital, Inc., a Registered Investment Advisor.

A Reliable Partner Dedicated to Delivering Better Outcomes for Advisors and Investors

Widger 4_v2Charles Widger, Founder & Executive Chairman

By now, many of you are aware of Curian Capital’s decision to exit the fee-based business to focus on the core activities of Jackson National Life Insurance Company.  I am sure there are many strong, global, corporate considerations that led them to this determination; nonetheless, it does not alleviate the disruption to impacted financial advisors and investors.

This situation reminds me of the motivations that led me to create Brinker Capital 28 years ago.  When our original parent company, Mutual Benefit, floundered in 1991, it was part of an unfortunate reoccurrence taking place in the financial service industry.  Venerable names like E.F. Hutton, Kidder Peabody and Prudential Bache were also falling by the wayside.  I was determined to make Brinker Capital different.

That is why I built an organization with the laser focus of helping advisors and investors succeed by delivering a premier investment experience that would allow them to achieve the outcomes that they were seeking.  I surrounded myself with professionals who were committed to this same vision, and I’m proud that six of the eight founders are still here today and further, that over 40% percent of my employees have been here for over 10 years.

Brinker Capital is 100% employee-owned. That has allowed us to make thoughtful, long-range decisions without outside ownership staring over our shoulder.  We are proud of our independence and will continue to be independent. Independence empowers Brinker Capital to continue to build this great organization that for 28 years has, and always will, put the advisor and investor first.

I, along with my colleagues, will continue to provide the best in investment management and advisor support.

For more information, please click here to read our latest press release.

Brinker Capital, Inc., a Registered Investment Advisor