Investment consultants provide valuable advice to institutional investors and high net worth individuals on asset allocation, portfolio construction, investment manager selection, and more. The top investment consulting firms globally include Mercer, Aon Hewitt, Willis Towers Watson, Cambridge Associates, NEPC, Albourne Partners, and more. These firms employ thousands of consultants with expertise across various asset classes. Their services help clients make better investment decisions aligned to their goals. This article provides an overview of the major investment consulting firms and the services they offer.
Mercer – global leader in investment consulting
Mercer is one of the largest investment consultants globally with over 3,800 professionals. They provide advisory services across the full spectrum of institutional investing including strategic asset allocation, investment policy, portfolio implementation, investment manager search and selection, and performance measurement. Mercer consultants have expertise across equities, fixed income, real assets, hedge funds, private equity, and other alternative investments. They serve clients including pension plans, sovereign wealth funds, insurers, endowments, and foundations.
Aon Hewitt – prominent consultant for pension funds
Aon Hewitt is a leading investment consultant with a strong focus on retirement and pension plans. They advise clients on designing and implementing investment strategies to meet their projected benefit obligations. Aon Hewitt provides specialized consulting services for liability-driven investing (LDI) which is used by pension funds to better match assets with liabilities. They also offer target date funds, fiduciary management, and delegated investment solutions.
Willis Towers Watson – actuarial and investment expertise
Willis Towers Watson is a large professional services firm that provides actuarial and investment consulting services. Their consultants help clients assess risk, optimize performance, and maximize gains across their investment portfolios. Willis Towers Watson has expertise in customized asset allocation strategies, portfolio implementation, investment manager selection, performance measurement, risk management, and governance advisory. Their actuarial capabilities also allow better alignment of assets to liabilities.
Cambridge Associates – leading institutional investment advisor
Cambridge Associates is a prominent investment consultant focused on serving endowments, foundations, pensions, family offices, and other institutional investors. They are a leading provider of outsourced chief investment officer (OCIO) solutions which involve fully delegating portfolio management to their consultants. Cambridge Associates also offers investment policy development, asset allocation, risk management, manager selection, and performance reporting services. They have expertise across global equities, fixed income, hedge funds, private equity, and real assets.
NEPC – specialist in endowments and foundations
NEPC is an investment consultant focused on endowments, foundations, hospitals, pensions, family offices and other institutional investors. They provide a range of services including asset allocation studies, investment policy development, portfolio implementation, manager selection, performance measurement, and risk management. NEPC has particular expertise in alternative investments and assists clients with illiquid portfolio construction. They also offer OCIO solutions for fully delegated investment management.
The top investment consulting firms like Mercer, Aon Hewitt, Willis Towers Watson, Cambridge Associates, and NEPC provide valuable advisory services to help institutional investors and wealthy individuals construct optimal investment portfolios aligned to their needs and goals. Their expertise across various asset classes and specialized services make them indispensable partners.