Choosing the right outsourced CIO services can make a world of difference for RIAs and other organizations looking to streamline investment management. With so many providers out there, it’s not always easy to know where to start. That’s why we’ve put together this list of firms that offer OCIO services, with key details and a quick overview of what each offers.
Whether you’re seeking more time for your clients or want to tap into institutional-grade expertise, this guide will help you get familiar with the top names in the business.
An outsourced CIO (or OCIO) is a third-party service provider that manages portfolio investments – often with full discretionary authority – for clients such as:
Some OCIOs specialize in serving specific client segments, like nonprofits or foundations.
Portfolio management, along with the regulatory and compliance requirements that come with it, can be very time-consuming. Hiring a firm that specializes in OCIO services allows you to delegate these responsibilities. That way, you can focus more on building client relationships and growing your practice.
The practice of outsourcing extends to asset management, too. Find out more in our guide on turnkey asset management platforms (TAMPs).
We’ve put together a list of 30 firms that offer OCIO services. We’ve included some basic facts and a short description of each provider. They’re listed in alphabetical order:
Year established: 1982
Client segments: Taft-Hartley plans, public funds, endowments, foundations, nonprofits
Website: alanbiller.com
Alan Biller and Associates is an independent OCIO and investment consulting firm, specializing in large institutional clients. The firm counts its workforce and objective independence as some of its strengths in the OCIO space.
Year established: 2001
Client segments: Institutional, private wealth
Website: angelesinvestments.com
Angeles is a boutique investment advisory that focuses on institutional and private wealth clients. They take pride in offering custom investment programs to meet their clients’ needs.
Angeles is 100 percent employee owned and is a Certified B Corp. The firm is also part of our list of 5-star wealth management teams.
Year established: 1982
Client segments: Corporations, pensions, endowments, foundations, healthcare, nonprofits
Website: aon.com
Aon is a global professional services firm with a robust OCIO platform. Their OCIO services are tailored for institutional clients seeking to outsource all or part of their investment function, leveraging Aon’s deep resources and global expertise.
Year established: 1988
Client segments: Pensions, family offices, foundations, endowments, healthcare
Website: blackrock.com
BlackRock is one of the world’s largest asset managers, providing OCIO services that leverage its global investment platform and advanced risk analytics. The firm takes a whole-portfolio approach in proposing investment options to its clients.
Competition among the top outsourced CIO services providers is fierce. Case in point: in 2024, BlackRock hired a former Goldman Sachs executive as managing director of its OCIO unit.
Year established: 1993
Client segments: Endowments, foundations, healthcare organizations, nonprofits, educational institutions, family offices
Website: brownadvisory.com
Brown Advisory’s approach emphasizes close partnership with mission-driven clients to deliver customized investment solutions. The firm has been 100 percent independent since 1998, and every employee has a fiduciary duty toward their clients.
Year established: 1973
Client segments: Public and corporate pensions, endowments, foundations, healthcare
Website: callan.com
Callan is a leading investment consulting and provider of outsourced CIO services for institutional investors. Their CIO services are built on decades of research, analytics, and a collaborative approach to portfolio management.
Year established: 1973
Client segments: Endowments, foundations, pensions, families, healthcare, insurance
Website: cambridgeassociates.com
Cambridge Associates is a global investment firm specializing in OCIO and consulting for endowments, foundations, and other institutional investors. They are known for their research-driven approach and expertise in alternative assets.
Year established: 1988
Client segments: Religious and cultural organizations, healthcare, educational institutions
Website: canterburyconsulting.com
Canterbury Consulting provides OCIO and investment consulting services, focusing on customized portfolios for mission-based organizations. Clients who work with Canterbury can entrust the ongoing management and investment decisions of their portfolios to the firm.
Year established: 1997
Client segments: Retirement plans, endowments, foundations, nonprofits, RIAs
Website: captrust.com
CAPTRUST is one of the largest independent investment advisory firms in the US. It began offering OCIO services for nonprofit organizations in 2012. It upholds its fiduciary commitment by having a No-Golf-Ball Rule – this means declining gifts from industry stakeholders.
Year established: 2009 (Agility), Cerity Partners 2009
Client segments: Endowments, foundations, families, nonprofits
Website: ceritypartners.com
Cerity Partners, which acquired Agility in 2024, is an OCIO provider that focuses on a small number of clients to focus on delivering highly specialized services. The firm delivers customized portfolio solutions, manager selection, and ongoing oversight, all tailored to each client’s objectives and governance structure.
Year established: 1971
Client segments: Nonprofits, endowments, foundations, healthcare, pensions
Website: commonfund.org
Commonfund is a pioneer in OCIO services for nonprofits, providing investment management and advisory solutions tailored to mission-driven organizations. Their approach emphasizes long-term growth, intergenerational equity, and responsible investing.
Year established: 2003
Client segments: RIAs, endowments, foundations, public charities, colleges and universities
Website: cstonellc.com
CornerStone Partners is an OCIO firm dedicated to serving a select group of not-for-profit organizations, such as endowments and foundations. They focus on delivering customized investment solutions, including fractional OCIO services, that support the long-term goals and missions of their clients.
Year established: 1980 (OCIO services from 2018)
Client segments: Endowments, foundations, nonprofits
Website: crewcialpartners.com
Crewcial Partners provides OCIO and consulting services to mission-driven organizations, and they do so on a discretionary basis. The firm was established in 1980, with The Salvation Army as its first client – a relationship that continues to this day.
Year established: 1974 (OCIO services from 2003)
Client segments: Corporations, public funds, endowments, foundations
Website: demarche.com
DeMarche is an investment consulting and OCIO provider with a long history of serving institutional investors. Their outsourced CIO services focus on risk management, research, and customized portfolio solutions.
Year established: 2010
Client segments: Independent RIAs, financial advisors, wealth management firms
Website: dynastyfinancialpartners.com
Dynasty Financial Partners provides a platform for investment solutions and outsourced services to independent RIAs and financial advisory firms. Dynasty’s model is designed to enable advisors to operate independently.
Year established: 1988
Client segments: Endowments, foundations, healthcare, nonprofits
Website: feg.com
FEG provides OCIO and investment consulting services, acting as an extension of clients’ investment offices. Their approach centers on customized portfolios and deep research resources for institutional investors.
Year established: 1946 (Fidelity), Institutional division more recent
Client segments: Retirement plans, endowments, foundations, nonprofits, RIAs
Website: institutional.fidelity.com
Fidelity Institutional offers OCIO solutions leveraging its scale, proprietary research, and investment expertise. Their platform serves a wide range of institutional clients with customizable investment management.
Year established: 1995
Client segments: Retirement plans, endowments, foundations, private wealth advisors, financial institutions
Website: fiducient.com
Fiducient Advisors is an outsourced CIO services and consulting firm serving retirement plans and nonprofits. They are guided by a Fiduciary Trail to uphold their fiduciary duties and protect clients.
Two financial planners from Fiducient Advisors, Ellen Allgrove and Nicholas Breit, were named among the best in the US.
Year established: 1956
Client segments: Endowments, foundations, families, nonprofits
Website: glenmede.com
Glenmede was originally established to serve as trustee and administrator of The Pew Memorial Trust. Recognizing that other institutions could benefit from its expertise, Glenmede expanded its offerings to include outsourced CIO services. Today, the firm serves over 150 clients in nine cities across the US.
Year established: 1869 (OCIO services since 1995)
Client segments: Pensions, endowments, foundations, corporations, nonprofits
Website: goldmansachs.com
Goldman Sachs offers OCIO and fiduciary management services with an open architecture platform. This provides institutions with access to a wide range of investment strategies and managers.
The firm focuses on delivering customized portfolio solutions and risk management aligned with each client’s objectives.
Year established: 1988
Client segments: Families, endowments, foundations, corporations, healthcare organizations
Website: hirtlecallaghan.com
Hirtle Callaghan pioneered the OCIO model, offering fully customized investment solutions. They focus on delivering endowment-style management to both families and institutions.
Year established: 1871 (OCIO services since 1988)
Client segments: Endowments, foundations, families
Website: am.jpmorgan.com
J.P. Morgan provides OCIO services with a global platform, deep investment resources, and experience managing complex institutional portfolios. They offer tiered solutions – from consultative, customized, to full-service support.
Year established: 2005
Client segments: Endowments, pensions, families, sovereign wealth funds
Website: makenacap.com
Makena delivers OCIO services to endowments, foundations, and other long-term investors, emphasizing diversified, multi-asset class portfolios. Their approach combines institutional investment expertise with customized solutions designed to support each client’s unique mission and objectives.
Year established: 1945
Client segments: Pensions, endowments, foundations, corporations, nonprofits
Website: mercer.com
Mercer is one of the world’s largest outsourced CIO (OCIO) providers, delivering investment management, risk oversight, and fiduciary solutions to a broad range of institutional clients. Their OCIO services are designed to help organizations achieve their investment goals through customized portfolio construction, implementation, and ongoing governance support.
Year established: 1935 (Morgan Stanley), Graystone division more recent
Client segments: Corporations, educational institutions, faith-based institutions, endowments, Taft-Hartley funds
Website: morganstanley.com/graystone
Morgan Stanley’s Graystone Consulting provides OCIO and investment consulting services for institutional and nonprofit clients, leveraging the firm’s global research and investment platform. They offer tailored investment solutions, fiduciary oversight, and access to a broad range of resources designed to help clients meet their goals.
Year established: 1986
Client segments: Endowments, foundations, Taft-Hartley funds, healthcare, nonprofits
Website: nepc.com
NEPC offers outsourced CIO services to institutions seeking to delegate investment management and oversight responsibilities. Their approach focuses on delivering customized portfolio solutions, risk management, and ongoing governance support tailored to each client’s goals and organizational structure.
In 2024, one of the largest RIAs in the US became a majority owner of NEPC. This is expected to provide NEPC’s outsourced CIO services with greater resources and expanded distribution.
Year established: 2023
Client segments: RIAs, financial advisors, high-net-worth individuals, families
Website: portsidewealth.com
Portside Wealth is an SEC-registered investment advisor based in Provo, Utah. The firm provides financial advisors and their clients with investment management and outsourced CIO services, leveraging partnerships with TownSquare Capital (Orion OCIO) and other institutional providers.
Portside Wealth Group was featured on our list of fastest growing financial firms for 2024.
Year established: 1936 (OCIO services since 1980)
Client segments: RIAs, defined benefit plans, defined contribution plans, healthcare, nonprofits
Website: russellinvestments.com
Russell Investments is one of the world’s largest OCIO providers, delivering integrated investment solutions and risk management to institutional clients. They monitor your investment portfolio around the clock to respond quickly to help manage risks.
Year established: 1995
Client segments: RIAs, endowments, high-net-worth individuals, families, nonprofits, institutions
Website: wealthspire.com
Wealthspire Advisors provides outsourced CIO services to institutions and nonprofit organizations, offering comprehensive investment management and strategic guidance. The firm focuses on integrating investment strategy with clients’ operational and governance needs. They have a dedicated team that acts as an extension of the client’s staff for highly personalized service.
Year established: 1828 (company origins), OCIO services launched in 2002
Client segments: Corporations, pensions, endowments, foundations, insurance programs, wealth platforms
Website: wtwco.com
WTW boasts of having 40 years’ experience in the OCIO space, being among the first to offer these services. They have 1,400 clients worldwide; they are also one of the 10 largest OCIO providers globally.
When you’re choosing an outsourced CIO partner, start by looking for a firm that’s open about how they work. Establish early on if you would like them to act in a discretionary capacity, or more like a consultant. It’s also important to find a team that listens to your needs and can tailor their approach to fit your firm’s needs.
The best outsourced CIO services will make your life easier. With the right partner, you can spend less time worrying about investment decisions and more time building relationships with your clients.
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