PRESS

North Pier’s Partners have been quoted in various financial, business and economic publications. Browse through our comprehensive list of these publications below and discover why our professionals remain to be your prudent experts.

Jim Scheinberg, Managing Partner 

pi_logo_official   Record asset volumes are shifting over to outsourced chief investment officer firms as asset managers, consulting firms and institutional investors embrace the OCIO model with increasing fervor.

Despite the surge in OCIO popularity, fee structures, methods of evaluation and even commonality of service offerings continue to be elusive. As the OCIO market continues to scale, sophisticated evaluation standards must mature to ensure that the most capable firms are the recipients of the new engagements.

“As the OCIO market continues to scale and mature, sophisticated evaluation standards regarding track records and data transparency must be agreed to and universally applied.” -Jim Scheinberg (April, 2019). “Commentary: Record OCIO inflows highlight the need for evaluation standards,” Pensions & Investments, https://www.pionline.com/article/20190402/

imgresSmaller investment advisers are starting to pull money out of Pimco. North Pier Fiduciary Management, which advises employers on their 401(k) retirement plan investments, is terminating Pimco Total Return at companies where it manages money directly and recommending its replacement for those where the firm is a consultant, Jim Scheinberg, managing partner at the Los Angeles-based firm, said in an e-mail. North Pier advises on almost $1 billion in assets.

“We view this manager change as a fatal blow to the fund’s track record, rendering it completely inapplicable in evaluation of the fund’s future prospects, thus making it an imprudent investment,” Scheinberg said. “We are conducting replacement evaluations as we speak.” -Collins, Margaret (September, 2014). “Pimco Girds for Redemptions as Gundlach Attracts Money,” Bloomberg, http://nws.mx/1IjvGEE

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Not everyone is sold on the need or desirability of including annuities in 401(k) plans. “None of our clients presently use annuities in their 401(k) plans,” says Jim Scheinberg, managing partner at North Pier Fiduciary Management in Los Angeles. “There has been a little talk here and there about it, but we have advised them against going too deep at this point, as we haven’t felt that the market or regulations are mature enough yet. Also, with interest rates still near record lows, fixed annuity returns are not very compelling.” -Sammer, Joanne (September, 2013). “Steady Retirement Income Streams,” Society for Human Resource Management, http://bit.ly/152lYGe

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“Rookie investors sometimes look at trailing returns of mutual funds and assume that the best-performing funds are good funds and are likely to repeat going forward,” says Jim Scheinberg, managing partner of North Pier Fiduciary Management, a Los Angeles asset-management firm that specializes in retirement plan consulting. “The reality,” Scheinberg says, “is the best-performing funds from last year frequently don’t repeat next year.” They may, of course. But just as often, he says, a fund had its moment in the sun, and now normalcy is setting in. “What is best is for new investors to seek long-term good performers that didn’t just have a great last year but consistently have returns that rank in the top half of their peer group measured over a long period of time,” Scheinberg says. -Williams, Geoff (August, 2013). “5 Mistakes New Investors Often Make,” U.S. News & World Report, http://bit.ly/17pOu0J

U.S. NEWS & WORLD REPORT LOGO“‘The most important thing my father taught me, which is something that I have used throughout my 23-year career, is to live within my means and pay yourself first. Savings were budgeted in our household just like paying the phone bill. It was just something we did. Even as a young child, I was given a savings account and taught to put a portion of my earnings, initially my allowance, into it.’Williams, Geoff (May, 2013). “The Best Money Advice From Dad,” U.S. News & World Report, http://bit.ly/141lrkE.

smartmoney“In addition, during the downturn companies across the board trimmed costs and boosted productivity — putting them in prime earnings expansion territory, says Jim Scheinberg, a managing partner at the Culver City, Calif., investment advisory firm North Pier Fiduciary Management.” -Ransom, Diana (2010). “6 Investing Strategies for Retiree Wannabes,” Smart Money, http://sm.wsj.com/19rTyZ0.

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“For somebody who’s investing as small as $3,000 or so, it’s going to be very difficult for them to get objective and qualified advice from an adviser simply because there’s just not enough compensation to justify the adviser’s time,” said Jim Scheinberg, managing partner at North Pier Fiduciary Management in Culver City, Calif.” -Braswell, Mason (2010). “For young (and old), a guide to investing,” Daily News, http://nydn.us/15XXjAF.

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“You have to pay for talent,” says Jim Scheinberg, managing partner of North Pier Fiduciary Management. A manager’s prowess could be linked to the resources they expend, thus impacting their costs and net fee. For example, if one small-cap manager has three analysts for a $500 million portfolio and one manager has 10 for the same sized portfolio, the second manager’s costs, and the resultant fees, are going to be higher; but in theory, their coverage of their market should be better. “Would this justify a higher fee? If their performance was stronger, we think so,” says Scheinberg. -Nance-Nash, Sheryl (2010). “Mutual Fund Fees Debate: Much Ado About Nothing?,” Daily Finance, http://aol.it/4hRsZO.

sHRm“Since the crisis, we are seeing an increase in demand for inflation education from our employer clients,” says Jim Scheinberg, managing partner at North Pier Fiduciary Management LLC in Culver City, Calif. “We have responded with a series of materials and webinars. In retirement, damage from inflation can be as big as, if not greater than, the risk of loss from asset price erosion, yet most pre-retirees don’t understand this dynamic.” -Sammer, Joanne (2010). “Recasting the Message on 401(k)s,” Society for Human Resource Management, http://bit.ly/11awzgl.

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“The propensity of these funds toward investing in only their firm’s proprietary products is problematic for Rekenthaler, as well as others, such as Jim Scheinberg, managing partner of North Pier Fiduciary Management, “Most target-date funds invest in the asset management firm’s own offerings. Seldom, if ever, will one company have superior choices for each asset class,” says Scheinberg.” -Nance-Nash, Sheryl (2009). “Target-Date Funds: Hidden Risks in ‘Simple’ Plans,” Daily Finance, http://aol.it/aRpCr.

smartmoney“Depending on when rates go up, consider boosting your exposure to assets with shorter time horizons such as bonds that mature in one to two years or less, says Jim Scheinberg, a managing partner at the Culver City, Calif., investment advisory firm North Pier Fiduciary Management. That way, if interest rates do rise, you won t be stuck with bonds that no one wants. In a sense, you ll be locked in to low interest rates while everyone else is making a lot more, says Scheinberg. This strategy hinges, of course, on being able to get out in front of a rate hike, which no one really knows when will happen. Advisers often caution investors from attempting to time the market, as they re typically wrong, says Scheinberg.” -Ransom, Diana (2010). “Retirement: Getting Ahead of Interest Rates,” Smart Money, http://sm.wsj.com/11gc52w.



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