Parallel provides full fiduciary advisory services to the Investment Committees and Boards of Directors of Foundations, Endowments and all types of Tax-Exempt Organizations (TEOs). As an independent fiduciary advisor we apply our broad skillset, free from conflicts of interest, helping you understand and fulfill your fiduciary responsibility and freeing up valuable time so you can focus on the core mission of your organization.

Investment Policy Statement Design and Review

• The Investment Policy Statement (IPS) contains criteria for the selection, monitoring and replacement of investments. A target asset allocation across asset classes and styles, as well as a targeted rate of return. The IPS will state the monitoring criteria, as well as the institutional benchmark against which the investment performance will be measured. The all-important practice of re-balancing the portfolio to optimal allocations lends control against risk and volatility. Parallel professionals design and recommend IPS documents, with the fiduciary protection of the Committee members of utmost concern. 

Spending Policy Design

• The Spending Policy recognizes the link between the Organization’s endowment with its long-range strategic plan. How the Organization spends its endowment is calculated according to its program-related and capital needs. A sustainable withdrawal rate, overlaid against the success of development efforts, must also be considered.

Compliance with UPMIFA

• Uniform fiduciary standards of care, set forth in legislative acts such as the Uniform Prudent Management of Institutional Funds Act are continually observed for compliance.

Portfolio Design

• Conforming to the asset allocation criteria referenced in the IPS, Parallel professionals rely upon independent research and sophisticated computer modeling to arrive at risk-based portfolios designed to meet the ongoing needs of the TEO. Standards such as Environmental, Social and Governance (ESG) investing will be a priority where mandated. Broader diversification into Alternative Investments such as hedge funds, private equity and long-short strategies may provide TEO portfolios additional potential for decrease in risk and volatility, higher returns and greater cash flow.

Partnering with Development Committee

• As a TEO's outsourced Chief Investment Officer, Parallel can be a valued partner in fund raising campaigns. In coordination with the respective agency's Development Committee, Parallel designs and implements investment information programs familiarizing current and prospective donors with Parallel's sophisticated and institutional-level investment management strategies. Once donors have been briefed regarding how their donated funds are being invested, they may be inclined to increase their generosity to the TEO.