Investment Performance Services

What Investment Performance Services does

Investment Performance Services (IPS) is an independent, 100% employee-owned investment consulting firm founded in 1986 in Savannah, Georgia, that provides advisory and discretionary investment consulting services to institutional employee benefit plans and private wealth clients across the United States. Its core offerings span four interlocking service lines: Traditional Consulting Services (Master Consulting Services with quarterly review and Expanded Consulting Services with monthly review), Discretionary Consulting Services acting as an outsourced CIO (OCIO), Participant-Directed Defined Contribution Plan Services for 403(b)/401(k)/401(a)/457 plans, and Oversight Consulting Services that independently monitor external fiduciary consultants or OCIO providers. Underlying these services is an in-house, proprietary manager research process that screens investment managers across 12+ asset classes (US Equity, Non-US Equity, Global Equity, Investment Grade Fixed Income, High Yield, GTAA, Real Estate, Hedge Funds, Private Equity, Private Credit, Infrastructure, and Participant-Directed DC) and maintains a master "Approved" list, with client-facing performance reporting delivered through a custom portal at ips.invmetrics.com.

IPS serves Taft-Hartley multiemployer benefit plans as its primary segment (covering union members across construction, manufacturing, transportation, retail, public safety and services trades), with public employee retirement systems, institutional endowments, and high-net-worth individuals as secondary segments. The firm is structured as Investment Performance Services, LLC, with offices in Newtown, Pennsylvania (Corporate Headquarters, ~30 employees) and Savannah, Georgia (founding office), and is governed by a senior leadership team including CEO Richard I. Sichel, Jr., President Jennifer Mink, CIO Christopher McDonough (formerly Director of the New Jersey Division of Investment), and COO/CCO Mike Magee (formerly COO of Chartwell Investment Partners and ClearBridge Investments).

Revenue is generated through professional services and managed services fees on a quote-based, bespoke pricing model — IPS does not publish pricing. The firm's distribution is relationship-driven: senior partners personally cover Mid-Atlantic, Southeast, and Midwest territories, attending trustee board meetings, presenting at industry conferences (NCPERS, IFEBP, FPPTA, GAPPT, TEXPERS), publishing thought leadership in trade media (Buyouts, PERE Credit, Benefits Magazine), and maintaining active memberships in industry associations. With over 190 clients, over 250 employee benefit plans, and approximately $70 billion in assets under advisement across all 50 states, IPS positions itself as a niche specialist — a leading Taft-Hartley investment consultant — differentiated from broker-dealer-affiliated competitors by its independence, open-architecture manager sourcing, and four-decade operating history.

Name

Investment Performance Services

Legal name

Investment Performance Services, LLC

Website

https://ips-net.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Investment Performance Services is an independent, 100% employee-owned investment consulting firm founded in 1986 that provides advisory and discretionary (OCIO) investment consulting to Taft-Hartley plans, public funds, endowments, and private wealth clients across all 50 US states.

Ownership category

akta.pro rank

Product category

Investment Consulting Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

akta.pro secondary industry

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

Keywords

• Investment consulting services
• Taft-Hartley plan advisory
• Outsourced CIO services
• Manager due diligence
• Fiduciary investment advice

Headquarters

HQ city

Savannah

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Investment Consulting Fees (Advisory): Recurring advisory consulting services for plan sponsors (Taft-Hartley, public funds, institutions, private wealth). Includes investment policy drafting, asset allocation modeling, performance reporting, manager searches, compliance monitoring, fee negotiation, trustee education, and Board meeting attendance. Master Consulting Services (MCS, quarterly review) and Expanded Consulting Services (Ex-MCS, monthly review) tier structures.
2. Discretionary Consulting Services (OCIO): Outsourced CIO / discretionary management where IPS has full discretion over assets, makes and implements investment decisions, rebalances within ranges, hires/terminates managers, and funds capital calls. Includes monthly 'flash' reports and quarterly written reports.
3. Participant-Directed DC Plan Services: Advisory and discretionary consulting for participant-directed defined contribution plans (403(b), 401(k), 401(a), 457). Total Plan Review, Annual Review, Quarterly performance reporting, recordkeeper/target-date fund searches, investment policy guidelines.
4. Oversight Consulting Services (OCS): Oversight of third-party Fiduciary Consultants and OCIO programs. Includes independent performance calculation, written executive summaries, ongoing quarterly performance/risk reporting, compliance monitoring, opinion on recommendations, cash flow / capital call monitoring.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

Investment Performance Services is an independent investment consulting firm that delivers advisory and discretionary investment management services to institutional employee benefit plans, public funds, endowments, and private wealth clients across the United States. The firm's core offering encompasses investment policy drafting, asset allocation modeling, manager research and due diligence across 12+ asset classes, performance reporting, compliance monitoring, fee negotiation, trustee education, and Outsourced CIO (OCIO) discretion, supported by an in-house proprietary manager research process and a master "Approved" manager list.

Product overview

Investment Performance Services (IPS) is an independently owned investment consulting firm offering a single integrated suite of advisory and discretionary investment consulting services for institutional employee benefit plans and private wealth clients, rather than a modular platform with separately sold products. The core offering is delivered through several interlocking service lines: Investment Consulting Services (the umbrella covering Investment Policy, Asset Allocation, Performance Reporting, Manager Searches, Compliance Monitoring, Trustee Education, and Fee Negotiation), implemented either as Traditional Consulting Services (Master/Expanded) or Discretionary Consulting Services (OCIO). Specialized modules include Participant-Directed Defined Contribution Plan Services for 403(b)/401(k)/401(a)/457 plans and Oversight Consulting Services for monitoring external fiduciary consultants or OCIO providers. These services are supported by an in-house Manager Research department (which maintains an open-architecture 'Approved' list across 12 asset classes) and a Fund Office Support / Client Relations Department that handles asset transfers, capital calls, manager hires/terminations, and onboarding.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Consulting Services Advisory and discretionary consulting services covering all phases of the investment process for defined benefit (DB), defined contribution (DC), health & welfare (HW), and other Funds, including Investment Policy drafting, Trustee Education, Asset Allocation modeling, Performance Reporting, Compliance Monitoring, Manager Searches, Fee Negotiation, and Meeting Attendance. Targeted at institutional employee benefit plan sponsors.
• Traditional Consulting Services (Master/Expanded Consulting Services) Two advisory approaches where investment decisions are driven by IPS and approved by Trustees. Master Consulting Services (MCS) provides quarterly review with written recommendations and Trustees interview managers for hire. Expanded Consulting Services (Ex-MCS) offers monthly review with IPS selecting investment managers for hire, subject to Trustee approval.
• Discretionary Consulting Services (OCIO) Outsourced CIO offering where decisions are driven and implemented by IPS. Includes all core services with IPS having full discretion over assets, monthly reviews with quarterly and monthly 'flash' reports, rebalancing within predetermined ranges, manager retention/termination, cash raising, capital call funding, and response to manager inquiries.
• Participant-Directed Defined Contribution Plan Services Comprehensive investment consulting services for participant-directed defined contribution plans (403(b), 401(k), 401(a), 457 Plans), implemented on an advisory or discretionary basis. Includes Total Plan Review, Annual Review, Searches for recordkeepers or target-date funds, and Investment Policy Guidelines drafting. Delivered independently from the recordkeeper.
• Oversight Consulting Services (OCS) Customizable oversight services for Trustees monitoring a third-party Fiduciary Consultant or Outsourced CIO (OCIO). Includes independent Performance Calculation, Written Summary reports, quarterly performance and risk reporting, Compliance Monitoring, Opinion review of OCIO/Fiduciary Consultant actions, and Cash Flow Monitoring including capital calls.
• Fund Office Support Services (Client Relations Department) Hands-on fund office support provided as part of consulting services. A dedicated team serves as liaison between a Fund and external third parties including investment managers, custody bank, recordkeepers, and Fund professionals (counsel, actuary, auditor). Includes assistance with asset transfers, capital calls/distributions, cash raises, manager hires/terminations, investment policy work, and new client onboarding.
• IPS Manager Research In-house proprietary research process to identify 'best in class' investment managers across asset classes including US Equity, Non-US Equity, Global Equity, Investment Grade Fixed Income, High Yield Fixed Income, GTAA, Real Estate, Hedge Funds, Private Equity, Private Credit, Infrastructure, and Participant-Directed DC Plans. Maintains a master 'Approved' list of managers using open architecture.

Quantifiable outcome

• Approximately $70 billion in assets under advisement
• +4 more outcomes

Named customers22 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• National Conference on Public Employee Retirement Systems (NCPERS)flagshipGTM or Marketing PartnerIPS holds an active membership in NCPERS; President Jennifer Mink serves as a Board Advisor to NCPERS. NCPERS is the largest trade association for public pensions in the US, providing a key distribution channel into public fund segment.
• International Foundation of Employee Benefit Plans (IFEBP)flagshipGTM or Marketing PartnerIPS is an active member of IFEBP. Jennifer Mink is a contributing author to the Investment Policy Guidebook for Trustees (Fifth Edition) published by IFEBP. Mitchell Green previously served on the IFEBP Investment Committee.
• CFA InstitutecoreOthersIPS holds an active membership in CFA Institute, supporting professional credentials (CFA charterholders Brad Loizeaux and Stephen Luchko on staff).
• FPPTA (Florida Public Pension Trustees Association)coreGTM or Marketing PartnerActive membership supporting distribution to Florida public pension trustees.
• NCCMP (National Coordinating Committee for Multiemployer Plans)flagshipGTM or Marketing PartnerActive membership supporting IPS's core Taft-Hartley multiemployer plan client base.
• TEXPERS (Texas Association of Public Employee Retirement Systems)coreGTM or Marketing PartnerActive membership providing access to Texas public pension market.
• Georgia Association of Public Plan Trustees (GAPPT)coreGTM or Marketing PartnerActive membership; CIO Chris McDonough has contributed articles to the GAPPT Newsletter on market leadership transformation.
• Maritime Association of South CarolinaminorOthersActive membership tied to IPS's Savannah, GA office and regional client base.
• Mechanical & Service Contractors Association of Eastern Pennsylvania (MCAEPA)minorOthersActive regional industry association membership.
• County Commissioners Association of Pennsylvania (CCAP)minorOthersActive regional industry association membership.
• Contractors Association of Eastern Pennsylvania (CAOEPA)minorOthersActive regional industry association membership tied to construction trade clients.
• Prosek PartnerscoreGTM or Marketing PartnerPR/media agency of record for IPS, handling media outreach for press releases on firm news such as the appointment of new CEO and President. Media contact: [email protected].

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Marquette Associates: Independent, employee-owned investment consulting firm serving institutional clients including public funds, Taft-Hartley plans, and endowments. Directly comparable to IPS in business model (non-discretionary and OCIO advisory, open-architecture research, fee-only structure) and target customer profile.
• Hyas Group: Taft-Hartley focused investment consulting firm serving multiemployer benefit plans. Directly comparable to IPS in customer base (union and multiemployer plans), advisory and OCIO service lines, and independence positioning.
• Verus: Independent, employee-owned investment consulting firm offering OCIO and advisory services to institutional clients. Comparable to IPS in consulting-only focus, open architecture, and institutional/Taft-Hartley exposure.
• Segal Group (Segal Marco Advisors): Major investment consulting and benefits firm with a deep specialization in multiemployer and Taft-Hartley plans. Highly comparable to IPS's Taft-Hartley focus, OCIO offerings, and institutional client base, though larger and more diversified.
• NEPC (New England Pension Consultants): Independent, employee-owned investment consulting firm advising public funds, corporate plans, endowments, and Taft-Hartley clients. Closely comparable to IPS in consulting-only model, open-architecture research, and OCIO capabilities.
• Meketa Investment Group: Employee-owned investment consulting firm serving public funds, corporate plans, Taft-Hartley, and non-profits with advisory and OCIO services. Closely comparable to IPS in size, ownership structure, and client mix.
• AndCo Consulting: Independent investment consulting firm serving public funds, Taft-Hartley, corporate, and non-profit plans. Comparable to IPS in consulting-only model, OCIO offerings, and middle-market institutional client focus.

Broad incumbents

• Mercer Investments: Global consulting arm of Marsh McLennan offering investment consulting and OCIO services to large institutional clients. Directly competes with IPS for public fund and corporate mandates, but at a much larger scale and as part of a broader HR/benefits portfolio.
• Cambridge Associates: Large global investment consulting firm serving endowments, foundations, and institutional pools. Comparable in OCIO and manager research capabilities but with broader geographic reach and higher-end private wealth focus than IPS.
• Aon Investments: Global investment consulting and OCIO provider within a large insurance brokerage group. Comparable to IPS in service offering (investment consulting, manager research, OCIO) but vastly larger scale and part of an integrated risk/benefits platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=CokIc3xyeMs
• LinkedInlinkedin.com/company/investment-performance-services-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Investment Performance Services