Total Institutional Mandates Exceed $500 Million, Firmwide AUM $800 Million
BOSTON, MA / ACCESSWIRE / May 18, 2021 / Veriti Management LLC ("Veriti"), a registered investment adviser (RIA) and leading provider of advanced direct indexing technology serving Foundations, Endowments, and Advisors, announced today it has received a mandate from WatersEdge for $120 million. WatersEdge, formerly The Baptist Foundation of Oklahoma, serves the financial needs of hundreds of Southern Baptist churches, ministries, institutions and other like-minded organizations in Oklahoma and across the United States.
Veriti has received more than $500 million in Foundation and Endowment mandates representing twenty-nine organizations over the last twelve months, with firmwide assets under management now exceeding $800 million.
"Veriti's advanced direct indexing platform is rapidly gaining affinity with industry consultants serving Foundations and Endowments as an efficient way to deliver highly customized portfolios aligned to each client's specific needs, preferences and values," said Jim Dilworth, Managing Director, and co-founder of Veriti Management LLC. "We are pleased with the response from our initial growth initiatives to better serve Foundations and Endowments since launching our platform in March last year. There is a clear unmet need for responsible investment solutions in the market today. Investors are seeking portfolios that are customized and administered with an optimal blend of financial and social return potential."
"We are grateful for the confidence placed by the consultants and advisors working alongside us to provide an exceptional client investment experience," added Dennis R. Hammond, head of Institutional Investments at Veriti Management.
Dennis Hammond works with Veriti institutional clients to administer responsible investment solutions customized to their specific preferences and values. These factors include faith-based, corporate, environmental, social, or governance (ESG), and UN Sustainable Development Goals (SDGs). Hammond has served as an endowment consultant for nearly forty years and is perhaps best known in his 25-year role as CEO and founder of Hammond Associates, one of the largest institutional consulting firm to Higher Education and Foundation clients in America, before it was acquired by Mercer Consulting.
About Veriti Management
Veriti Management is a registered investment adviser based in Boston, Massachusetts. Veriti aspires to change how people think about investing focusing on returns and the greater good. We deliver fully customized, tax-efficient, consciously aligned portfolios at a low cost. Veriti's Direct Indexing technology offers substantial tax benefits and the ability for investors to create more impactful and responsible portfolios. This single tool is powerful, versatile, personalized, and built to do good. For more information please visit, www.veritimanagement.com.
About WatersEdge
WatersEdge exists to financially empower donors and ministries to transform lives with the Gospel of Jesus Christ. WatersEdge began in 1946 as The Baptist Foundation of Oklahoma. Today, WatersEdge manages nearly $500 million for hundreds of Southern Baptist churches, ministries, institutions and other like-minded organizations across the United States. watersedgeservices.org
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Bill Conboy
bill@bccapitalpartners.com
303-415-2290
Veriti Management Contact:
nextsteps@veritimanagement.com
617-752-6010
100 High Street, Suite 1110
Boston, MA 02110
Disclosure: Veriti Management LLC (Veriti) is an investment adviser registered with the US Securities and Exchange Commission. Such registration does not imply endorsement, or a certain level of skill or training, and no inference to the contrary should be made. Veriti, its strategies, and further disclosures are described in more detail in Part 2 of Veriti's current Form ADV, which is available upon request. The strategies and/or investments referenced may not be suitable for all investors because the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. Every investment in securities presents the risk of financial loss as well as gain. The information contained in this report (including market values and other data) is from sources believed to be reliable. We cannot guarantee the accuracy or completeness of such information and we assume no liability for damages resulting from or arising out of the use of such information. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability. For more information, please visit our website at www.veritimanagement.com.
SOURCE: Veriti Management
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