Jen Wing, Head of Asset Management at GeoWealth, a proprietary technology and turnkey asset management platform (TAMP) to registered investment advisors (RIAs), appears March 28, 2023, with DoubleLine’s Jeffrey Sherman and Samuel Lau. Mr. Sherman asks Ms. Wing (0:59) to begin by discussing her career story in finance and how she came to specialize in due diligence on asset managers and asset manager selection. Ms. Wing then turns to explaining the role of TAMPs in general (7:56), most of which exist to serve broker-dealers, and then discusses the growing sector of registered investment advisors (RIAs) (9:43) and the story of GeoWealth, a TAMP devoted to serving RIAs. The discussion next turns (15:38) to GeoWealth’s suites of portfolio models and relationships with 40 active managers, including DoubleLine, to manage its models.
While investment advisors by necessity must be cost conscious and fee sensitive, Ms. Wing notes (26:42) that by attempting to in-source all their roles, including investment management, can consume time needed to face clients and build their business. “You’ve seen a lot of this data start to come out that out-sourcers during COVID won more business and saved 10 hours on average a week by out-sourcing to investment management and usually had better investing returns.” She also explains that GeoWealth works with individual models with RIA firms to customize models to fit their business practices and then run those models for them, allowing their business to scale up.
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Jeffrey Sherman, DoubleLine’s Deputy Chief Investment Officer, is a thought leader, portfolio manager and public speaker in the industry. Mr. Sherman is a member of DoubleLine’s Fixed Income and Global Asset Allocation committees, and he serves as lead portfolio manager for the firm’s multi-sector and derivative-based strategies. In his role, Mr. Sherman guides the investment teams in developing top-down macro views and collaborative asset allocation processes throughout a market cycle. Additionally, he is a member of DoubleLine’s Executive Management Committee. In 2018, Money Management Executive named Mr. Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW, where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. Prior to that, he was a statistics and mathematics instructor at the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the USC/CFALA CFA® Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from Claremont Graduate University. Mr. Sherman is a CFA® charterholder.
Mr. Lau joined DoubleLine in 2009. He is a Strategist on the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on the Global Asset Allocation and Macro Committees. Mr. Lau is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) and Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcasts. Prior to DoubleLine, Mr. Lau was a Vice President at TCW where he worked under Jeffrey Gundlach as a Research Analyst in the Mortgage Group. He holds a B.S. from the University of Wisconsin, Madison and an MBA from the Marshall School of Business at the University of Southern California.
