The PMC Investment Committee plays a critical role in the exercise of fiduciary responsibilities for Envestnet clients. The Investment Committee is responsible for establishing and overseeing the broad investment policies instituted on the Envestnet platform and within the PMC group. Comprised of senior investment professionals, the Investment Committee among other things oversees manager and mutual fund due diligence processes, as well as investment product development and portfolio management; initiates and authorizes changes to investment policies and methodology on the platform; and reviews and approves revisions to capital market assumptions and asset class portfolios. The Investment Committee meets formally on a quarterly basis, but more frequently on an ad hoc basis to consider issues of more immediate concern.
Brandon Thomas, Chief Investment Officer
Mr. Thomas is responsible for all aspects of PMC's investment management and research capabilities. Primary among those responsibilities include the development of PMC's investment policy, implementation of the firm's investment management and research offerings, and the development of new investment products, including alternative investment strategies. Mr. Thomas is a member of the PMC Management Committee and also serves on PMC’s Investment Committee.
Prior to joining the firm in 1999, Mr. Thomas was Director of Equity Funds for The John Nuveen Company. For five years, Mr. Thomas was responsible for managing the firm's equity fund activities and served on the firm's New Products Committee. Prior to that, he was a portfolio manager with a Chicago-based money manager, and started his career as a securities analyst with a Wall Street investment management firm.
Mr. Thomas received an AB in Economics from Brown University, an MBA in Finance and Accounting from the University of Chicago, and a JD from DePaul University. He holds the FINRA Series 7, 24, and 63 securities registrations and the Series 65 investment advisor registration.
Tim Clift, Chief Investment Strategist
Mr. Clift serves as Chief Investment Strategist at Envestnet | PMC and is responsible for research and consulting services for the organization. He leads a team of analysts who are responsible for the selection and monitoring of investment managers and a team of consultants who support institutional and advisory clients. Mr. Clift serves on PMC’s Investment Committee and is instrumental in setting investment policy for the Company.
Prior to joining Envestnet | PMC, Mr. Clift was the Chief Investment Officer and Chairman of the Investment Committee at FundQuest. He joined FundQuest in 1994 and maintained overall responsibility for the firm’s investment management programs for separately managed accounts, mutual funds, alternative investments, exchange-traded funds, and annuities. As Chairman of the Investment Committee, he led a team of analysts and portfolio managers that produced the firm's research and recommendations.
Mr. Clift possesses over 24 years of industry and investment management experience. He received an MBA in Finance from Boston University and a BA in Economics from Allegheny College.
Don Frerichs, CFA, Senior Vice President, Director Portfolio Management
Don Frerichs serves as lead portfolio manager for Envestnet | PMC’s discretionary managed mutual fund programs and is responsible for developing their asset allocation methodology. He serves on PMC’s Investment Committee and is a member of PMC’s Management Committee. He has been with the firm since 1993, starting with Portfolio Management Consultants (PMC) prior to its acquisition by Envestnet.
Prior to joining PMC, Mr. Frerichs served as a financial analyst with IPC, Inc., a California financial planning firm, from 1989 through 1993. He received a BS degree in Finance from California State University and is a CFA charterholder.
Erik Preus, CFA, Managing Director, Envestnet | PMC
In his role, Erik Preus heads up a new Business Consulting initiative designed to bring Envestnet | PMC's institutional research, due diligence, investment solutions and consulting expertise to our clients to empower their financial advisors to enhance client outcomes. Mr. Preus joined PMC in 2014 via Envestnet’s acquisition of Placemark Investments, where he was head of enterprise sales and business development.
Mr. Preus has 24 years of experience in the investment services industry, with considerable time spent in both investment management and investment consulting firms. Prior to joining Placemark, Mr. Preus was President of the RBC Funds and Head of Strategic Relationships for RBC Global Asset Management. While at RBC, Mr. Preus also served as Director of Investment Consulting Services within RBC’s U.S. Wealth Management business. Prior to RBC, he held management and business development positions with Nicholas|Applegate, Delaware Investments, Jeffrey Slocum & Associates, and SEI Capital Resources.
Mr. Preus earned his Bachelor’s degree from the United States Air Force Academy, and he holds an MBA from the University of Dayton and an MA from the University of Hawaii. He is also a CFA charterholder.
Janis Zvingelis, PhD, CFA, Senior Vice President, Director of Quantitative Research
As Head of PMC’s Quantitative Research Group, Mr. Zvingelis is responsible for leading PMC's research efforts involving quantitative finance, such as capital market forecasts, asset allocation strategies, portfolio implementation, and tax optimization. He brings knowledge of a variety of quantitative and statistical techniques to the analysis of financial research projects. Mr. Zvingelis is a member of both the PMC and Envestnet Retirement Solutions Investment Committees.
Prior to joining Envestnet Asset Management, Mr. Zvingelis was a research consultant with Mesirow Financial and Ibbotson Associates. He earned his PhD in Finance from The University of Iowa. He also holds a MA degree in Economics/Econometrics and an MSc degree in statistics, both from the University of Iowa as well as an MSc in Financial Mathematics from The University of Chicago. Mr. Zvingelis obtained his BA degree summa cum laude in Economics from Central College in Pella, Iowa. He has written and published several research papers in finance and theoretical statistics. Mr. Zvingelis is a CFA Charterholder.
Cal Bryant, CFA, Senior Vice President, PMC Overlay Services
Cal Bryant, CFA, is Senior Vice President, PMC Overlay Services. In this role, he leads the PMC Overlay Services team, which is responsible for implementing PMC’s Tax Overlay and Impact Overlay services for advisors and clients.
Mr. Bryant has 16 years of experience in the investment services industry. He joined Envestnet with the acquisition of Placemark Investments in October 2014. At Placemark, he held numerous roles, leading the Portfolio Management, Operations, and Trading teams. He also served on the Investment Committee.
Mr. Bryant graduated from the University of South Carolina, Magna Cum Laude, with a B.S. in Business Administration and is a CFA Charterholder.
Greg Classen, CFA, Senior Vice President, Senior Portfolio Manager
Greg Classen, CFA, is a Senior Vice President, Portfolio Manager at Envestnet | PMC. He joined the firm in December 2011 and is lead portfolio manager for the enterprise solution programs. Prior to joining the firm, he was Director of Research at FundQuest, and was responsible for the research of mutual funds, exchange-traded funds, variable annuities, and offshore funds as well as the management of client assets.
Mr. Classen has over 15 years of industry and investment management experience. He holds a BA in Economics from Williams College and is a CFA charterholder.
Brooks Friederich, Director, Fund Strategist Portfolios
Mr. Friederich serves as Director, Fund Strategist Portfolios, at Envestnet | PMC and is responsible for leading the firms efforts on Envestnet’s Fund Strategist Portfolio (FSP) research and due diligence.
In addition to his leadership roles on FSPs at the firm, he provides research and analytical support to Envestnet | PMC’s consulting and portfolio management groups. Mr. Friederich has been a member of Envestnet | PMC’s research group since 2008, having historically performed manager research and due diligence on separate accounts, mutual funds, and ETFs across a multitude of traditional asset classes.
Prior to joining the firm in 2008, Mr. Friederich was with Pitney Bowes, Inc., where he served as the Senior Analyst on the firm’s multi‐billion dollar domestic and international pension investment portfolios. He holds a BS degree in Finance from the University of South Dakota, a MS in Finance from the University of Colorado at Denver, and is a member of Envestnet’s Business Partner Acceptance Committee.
Michael Featherman, CFA, Managing Director, Head of Investment Specialists*
Mr. Featherman serves as the team leader for the PMC Advisor Facing Consulting Group and functions as the Key Account Liaison for the PMC Product Suite to Enterprise Clients. Additionally, Mr. Featherman serves as the Head of Investment Specialists and is responsible for consulting with financial advisors on asset allocation and investment manager selection for client portfolios. He offers investment insight as a liaison for the PMC Investment Research team and investment guidance to advisors to help them determine the appropriate portfolio strategies for their clients.
Prior to joining Envestnet | PMC in 2007, Mr. Featherman worked at Haverford Financial Services beginning in 2002, where his responsibilities included portfolio management, client relationship management, wholesaling to financial intermediaries, and equity and fixed income trading. He began his career in the financial services industry as a financial advisor for UBS Financial Services.
Mr. Featherman holds a BS degree in Biology with a minor in Economics from Bowdoin College. He holds the Series 7 securities registration and 65 advisor registration and is a CFA charterholder.
*non-voting member of the PMC Investment Committee
Ryan Tagal, Director of Product Management, Envestnet | PMC*
Ryan Tagal is the Director of Product Management at Envestnet ৷PMC (PMC). In this role, he oversees all product management and development for PMC’s suite of product and service offerings. This includes product oversight of PMC’s managed portfolios, consulting, and research offerings. He also participates in the overall leadership and management of PMC, from a strategic positioning standpoint.
Prior to his current role, Mr. Tagal was a Vice President of Product Management for Envestnet’s Product Group, overseeing product ownership for areas of the Envestnet platform relating to Envestnet's separately managed account program and manager research. Mr. Tagal also acted as the Associate Portfolio Manager for PMC’s Paradigm Liquid Alternatives Portfolios and continues to serve on the firm’s liquid alternatives group. He was a key member in the development of Envestnet’s classification and portfolio construction framework for mutual funds that employ alternative investment strategies.
Prior to joining Envestnet, Mr. Tagal led Morningstar’s hedge fund initiative. In this role, he oversaw the development of Morningstar’s hedge fund database, associated product development, and related research and methodology. Before that, Mr. Tagal was the Director of Quantitative Research at Cerulli Associates where he initiated Cerulli’s research in managed accounts, alternative investment products, and hedge funds in the mid‐1990’s.
Mr. Tagal has frequently been quoted in financial publications such as The Wall Street Journal, Barron’s, and BusinessWeek as an expert in emerging trends in the hedge fund and managed account industries. He holds an SB in Physics from MIT and an MBA from the University of Chicago Booth School.
*non-voting member of the PMC Investment Committee
Zachary Karabell, Head of Global Strategies, Envestnet, Inc., Consultant to Investment Committee*
As Head of Global Strategies, Senior Consultant of Envestnet, Inc., Mr. Karabell helps shape and communicate Envestnet’s investment perspective and deep research capabilities to clients and the media alike, and frequently advises the PMC Investment Committee. He also consults with the senior management of Envestnet on corporate strategy, branding, and market position, and serves as portfolio manager of the Ascent Portfolios for PMC.
Mr. Karabell is President of River Twice Research, a consulting company. Previously, he was Executive Vice President, Chief Economist, and Head of Marketing at Fred Alger Management, a New York-based investment firm. He was also President of Fred Alger & Company, a broker-dealer; Portfolio Manager of the China-U.S. Growth Fund (CHUSX); and Executive Vice President of Alger’s Spectra Funds, a no-load family of mutual funds that managed the Spectra Green Fund. At Alger, he oversaw the creation, launch, and marketing of several funds, led corporate strategy for strategic acquisitions, and represented the firm at public forums and in the media.
Educated at Columbia, Oxford, and Harvard, where he received his PhD, Mr. Karabell has taught at several leading universities, including Harvard and Dartmouth, and has written widely on economics, investing, history, and international relations. He is the author of twelve books, most recently "The Leading Indicators: A Short History of the Numbers That Rule Our World," and sits on the board of the New America Foundation and the Carnegie Council on Ethics. In 2003, the World Economic Forum designated him a “Global Leader for Tomorrow.” He is a Senior Advisor for BSR, a membership organization that works with global corporations on issues of sustainability.
As a commentator, Mr. Karabell is a Contributing Editor for Politico Magazine and writes the regular “Wealth of Nations” column. Previously, he penned "The Edgy Optimist" column for Slate, Reuters, and The Atlantic. He is a commentator on CNBC and MSNBC, and also contributes to such publications as The Washington Post, Time Magazine, The Wall Street Journal, The Los Angeles Times, The New York Times, Foreign Policy, The Financial Times, Foreign Affairs, and Barron's.
*non-voting member of the PMC Investment Committee