Investment Consulting

PBI is distinct in the investment consulting landscape in that our primary focus is on mitigating the risk of a funding shortfall that is associated with different investment strategies.  Rather than concentrating on asset returns and volatilities in isolation, we consider the extent by which assets and liabilities move in concert.  We also distinguish ourselves by analyzing downside risks and stress testing worse case scenarios to gauge the impact market shocks have on a plan’s ability to meet its obligations.  Ultimately, the focus of investment management should be on successfully delivering the underlying benefits rather than on simply outperforming market indices. PBI’s approach has served clients well, particularly given the volatile nature of capital markets and reticence of plan sponsors to fund unexpected plan shortfalls.

At PBI, we believe that understanding the liability and cash flow requirements of a fund is the first step in developing an appropriate investment and asset allocation policy. We emphasize the importance of developing specialized asset allocations based on individual client requirements in order to meet their unique funding and risk/return requirements.

We also believe that investment risk management should take into consideration the Principles for Responsible Investment (PRI), which take into account environmental, social and governance (ESG) factors. This is why PBI has been a signatory of the PRI since 2008.


PBI’s investment consulting services include the following:

  • Performance monitoring and evaluation
  • Investment manager monitoring
  • Research and advice on current investment issues
  • Statement of investment policy and objectives design and review
  • Advice on asset allocation/asset mix
  • Stochastic modeling
  • Strategic investment advice
  • Stress testing
  • Investment manager selection