DAMI Launches 4th Annual Survey On Diversity at Nation’s Top Investment Consulting Firms

For Immediate Release: August 2, 2021

Contact: Carolyn Clendenin, cclendenin@rabengroup.com, 347-869-7382

Diverse Asset Managers Initiative Launches 4th Annual Survey On Diversity at Nation’s Top Investment Consulting Firms

Washington, D.C. - Today, the Diverse Asset Managers Initiative, an effort to increase representation of women and people of color in the asset management industry, launched its fourth annual survey on diversity at the nation’s top investment consulting firms. The final report, to be released in December 2021, will include detailed gender and racial/ethnic information on the firms and information on their internal commitment to diversity, equity, and inclusion. DAMI is hoping that, for the first time, all firms will participate in the survey.

“When we started conducting this survey, firms were reluctant to publicly release comprehensive diversity data, fearing public criticism, or just annoyed at being asked. But through cajoling, a recognition that we measure what we value, and client requests, they have become more willing to provide this information. This year, we’re pushing for our first-ever 100% response rate.” said Robert Raben, executive director and founder of the Diverse Asset Managers Initiative. “It’s clear that the asset management industry remains heavily white and male, whether or not firms are willing to talk about it. But only when leaders commit to transparency can we take real, lasting steps to fix the problem.”

This year, DAMI reached out to the following firms to complete the survey: 

  • Agility

  • AndCo Consulting, LLC

  • Aon Hewitt

  • Aksia

  • Callon

  • Cambridge

  • Cammack LaRhette Advisors, LLC

  • Captrust

  • Cardinal Investment Advisors, LLC

  • Crewcial Partners

  • Commonfund

  • Hamilton Lane

  • LCG Associates, Inc.

  • Marquette

  • Meketa Investment Group

  • Mercer

  • Monticello

  • NFP Retirement

  • NEPC

  • Rocaton Investment Advisors, LLC

  • Russell Investments

  • RVK

  • SageView Advisory Group, LLC

  • Segal Marco Advisors

  • Stepstone Group

  • UBS Institutional Consulting

  • Verus Advisory, Inc., 

  • Willis Towers Watson

  • Wilshire

    Among these, DAMI was unable to secure responses from the following firms last year:

  • Aksia

  • Captrust

  • Cardinal Investment Advisors

  • Hamilton Lane 

  • Mercer

  • Monticello

  • NFP Retirement

  • Rocaton Investment Advisors

  • Russell Investments

  • SageView Advisory Group

  • Stepstone Advisors

  • TorreyCove

  • UBS Institutional Consulting 

  • Willis Towers Watson (Submitted an addendum)

To read our previous studies, please consult the links below:

2020 Investment Consultant Survey

2019 Investment Consultant Survey 

2018 Investment Consultant Survey

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The Diverse Asset Managers Initiative is an effort to increase the absolute number of, and assets under management by, diverse-owned asset management firms for institutional investors, with specific focus on public, corporate, faith and labor union pension funds as well as foundation and university endowments.

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