Alesco Advisors expands to the West Coast

Listen to this article

Alesco Advisors LLC is making a move out west.

The Pittsford-based independent advisory firm has opened a San Francisco office with two former executives of Blackrock Inc. leading the way.

Katharine Earhart and Maya Lis Tussing, who are both joining Alesco Advisors after leaving the global investment management firm, will be serving as principals and co-heads of the San Francisco office.

Earhart led the iShares Connect Program at Blackrock while Tussing served as head portfolio manager of U.S. Defined Benefit Index Asset Allocation. Both have worked in the financial services industry for more than 20 years, including experience in Exchange Traded Funds managed solutions, which Alesco Advisors officials note is an industry valued at $350 billion.

Earhart is seen as an early leader in recognizing the value of ETF investing, launching a vehicle in 2008 with 25 managers and $6 billion in these assets, Alesco Advisors officials noted. Tussing’s experience includes overseeing strategic allocation for more than $200 billion in 300 funds in risk-managed assets ranging from collective trust funds to ETFs and mutual funds.

“Katharine’s knowledge of the ETF strategist landscape and ecosystem will be an added bonus alongside Maya’s knowledge of how institutional investors are increasingly adopting ETF portfolios for both their low cost and liquidity advantages,” said Todd Green, Alesco’s chief investment officer.

James Gould, president of Alesco Advisors, said his firm had a relationship with Earhart in the past through her work with advisory firms, and plans for the San Francisco office blossomed from there.

“She traveled around the country working with investment advisers, talking about how they were structured and operated, discussing best practices in the industry,” he said. “She came here and felt we were a really well-run company and said if we were ever thinking of opening an office on the West Coast to let her know.

“I told her to let us know when she was ready, and a couple of years ago she said she was looking to make a move and we should talk. Together we formulated a plan to open an office in the Bay Area with Maya serving on the portfolio side.”

Earhart added that Alesco Advisors seemed a perfect fit for her skill set and is looking forward to the opportunity.

“We’ve worked with scores of investment firms from all over the nation and considered multiple options for this next chapter,” Earhart said. “However, Maya and I felt that Alesco was the best fit, due to its unique investing strategies, exemplary client service and incredible staff. There is a substantial opportunity to grow this organization.”

Gould said the two have also developed an expertise in serving female corporate leaders. This program, known as Directional Ambition, provides women with a combination of financial, commercial and community leadership.

“Their focus on women investors is equally important, as this is an integral part of our business expansion strategy,” said Frederick Minges, executive vice president and head of client service and marketing at Alesco Advisors.

Women make up fewer than 15 percent of financial advisers in the United States, with even fewer in executive positions, Alesco Advisors officials noted. But the firm now has three women in top positions within the firm and is committed to more growth in this area.

Gould said the San Francisco area itself is a good fit for his firm, putting it near some growing industries.

“This gives us a footprint and an exposure in an area with some very attractive economic expansion,” he said. “We’re right near Silicon Valley, which gives Katharine and Maya exposure to a lot of rapidly growing companies.”

Gould said he expects it to take a few years for Alesco Advisors to establish a presence and build its name in the Bay Area, but believes there is much room to grow. A successful branch could also open the door for further expansions, he added.

“With Katharine and Maya being so well-connected in that area, I expect this to be a very successful endeavor,” he said. “There are a lot of opportunities out there, and with some success in San Francisco that would give us motivation to expand in other parts of the United States.”

Gould founded the Pittsford-based investment firm in 2000. The firm has close to $2.7 billion in assets under advisement. In August it was named by Forbes as a Top 100 Wealth Manager. The company ranks No. 69 on the Rochester Top 100 list of fastest growing companies.

5/6/2016 (c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email [email protected].