Who We Serve Example
A volunteer committee overseeing an endowment
This client example is fictional and provided for illustration only. It does not represent an actual client. Not all client experiences will include all steps set forth below.
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First conversation
The committee chair books a 30-minute conversation to learn about AZA, and we follow up with an in-person meeting with the full committee later that month. We learn about the organization's mission, its annual spending, and how investment decisions are made today.
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Review and proposal
We review the endowment's investment policy statement, along with its spending needs and how much short-term volatility it can accept. Our written proposal sets a baseline allocation aimed at the endowment's long-term goals and explains how an adaptive portfolio would adjust within set ranges as conditions change. The proposal aims to balance the organization's long-term goals with an effort to limit large declines in market value and income. It also explains how we're paid. With the trade-offs laid out, the decision is the committee's.
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Putting it in place
We manage the portfolio within the ranges the committee approves. Allocation changes follow our analytical framework, led by valuations and supported by credit conditions, the economy, and market trends. Decisions are relayed to the committee so members understand what changed and why. Delegating management to us lightens the committee's fiduciary workload, though the committee still chooses and monitors its investment manager.
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Revisiting as needs change
We provide regular reports and commentary the committee can share with its board, and we attend meetings when asked. If the endowment's income needs or goals change, we revisit the baseline together.
Other examples
Fictional client examples provided for illustration only.