Manning & Napier

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Manning & Napier’s mission is to help its clients achieve their financial goals. The firm, which has been in business for 55 years, provides a range of financial services, including wealth management, asset management, and retirement planning.

What inspired the founding of your company, and what was its original mission?

Manning & Napier was founded in April 1970 by Bill Manning and the late Bill Napier. They saw a need in the Rochester community for an active investment manager and created multi-asset class portfolios focused on achieving client goals and managing risks that existed in the market. Throughout our 55 years in business, the firm has always remained focused on providing exceptional service and results for our clients.

What were the most significant milestones or turning points in the company’s 50+ years in business?

Launched first mutual fund in 1984. Established Exeter Trust Company in 1994 to serve as a custodian to our investment clients and offer comprehensive trust services. Went public in 2011. Hired current CEO Marc Mayer in 2019. Founder Bill Manning retired from the Board of Directors in 2020. Went private and was acquired by Callodine Group in 2022, which allows us to provide our clients with an expansive list of investment offerings, including private credit strategies.

How have your core values and vision influenced the way your company operates?

Manning & Napier values Bold Initiative, Meaningful Relationships and Continuous Growth. We reward employees who make suggestions to improve our firm, our offerings, or our results (Bold Initiative). Client trust and loyalty are everything to us. Many individual and institutional client relationships date back to the 1970s. Continuous Growth reflects our commitment to education and learning. Our investment teams spend time reflecting on lessons learned to ensure we can grow from our experience.

How has your company adapted to industry changes or economic challenges over the years?

We grow by embracing change while also remaining faithful to the guiding principles that have led us for 55 years. We have a long history of developing new strategies and services to support evolving client needs. Creating excellent client outcomes means more than just investment results, which is why we have evolved into a Wealth Manager. We still create client portfolios and develop innovative investment strategies and also have a suite of offerings to support clients’ total financial health.

What’s unique about your workplace culture that has contributed to your longevity?

Throughout the firm’s history, Manning & Napier has encouraged an ownership mindset and has extended ownership to key employees. This has allowed for greater alignment of interests, fostering a culture of accountability and innovation that has benefited our clients and supported the firm’s success. Our employees have an average tenure of 11 years at the firm. This is a testimony to our team’s extensive experience and adaptability in navigating the ever-changing market and business environment

What role does community engagement or corporate social responsibility play in your business?

We have a responsibility to support and serve our community — other businesses, nonprofits, and local investors. We believe it’s important to not just offer investment management services to nonprofits, but to truly partner with them. Employees are provided with paid volunteer days and encouraged to support local organizations and give back to our community. In addition to the volunteer days, we offer an employee match for 501(c)(3) organization.

What are the key factors that have contributed to your company’s ability to stay competitive?

A willingness to evolve has been essential to continue meeting the needs of our clients and staying ahead of changes in the industry. We only succeed if we do what we do very well. We take that seriously and are constantly working to continue earning our clients’ trust and confidence. A proactive approach is key in our investing process, new strategy development, and service offerings. Above all, we stay committed to our core values while recognizing the value of new ideas.