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Rating:How a Boutique Fund Shop is Preparing for its Next Phase of Growth Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, February 24, 2011

How a Boutique Fund Shop is Preparing for its Next Phase of Growth

Reported by Armie Margaret Lee

After rebranding itself, jazzing up its Web site and bringing on board an M&A point man, Roosevelt Investments continues to lay the foundation for its next stage of growth.

The New York City-based firm, which manages SMAs and the $224.2 million Roosevelt Multi-Cap mutual fund, recently added two internal wholesalers, Jonathan Connolly and Mike Miranda, to the team that supports its eight-person external sales force.

It is planning to add a third internal wholesaler, said Roosevelt Investments president Adam Sheer in an interview.

The support staff also includes five people that focus on marketing.

Meanwhile, Roosevelt, which last year landed on Inc. magazine's list of the 5,000 fastest-growing private companies in the country, recently engaged Broadridge unit Access Data for sales reporting support.

"We want to get a better handle on who's buying the fund, what their interests are and how we can service them better," Sheer said.

Also recently, Roosevelt hired a compensation consultant, Sibson Consulting, to help it attract and retain talent. Sibson's work for Roosevelt will primarily focus on the investment team and company management.

"We're spending a lot of time on the business itself making sure that the infrastructure is in place for our next stage of growth," Sheer said.

"If we don't have all the right pieces in place, whether it's the compensation consultant, whether it's Access Data, whether it's the incubation of new products or whether it's looking for synergistic acquisitions, if we're not focused on the business, then we're not going to be able to deliver the product," he explained.

Sheer's father, Arthur, started Sheer Asset Managemet in 1990. In 2002, the firm purchased Roosevelt Investment Group, which was founded by President Theodore Roosevelt's cousin, J. James Roosevelt, in 1971. Sheer Asset Management then adopted the Roosevelt name.

Last summer, the company rebranded from Roosevelt Investment Group to Roosevelt Investments. Roosevelt's PR firm, Harborside Group, also handled the rebranding and Web site redesign.

In February of last year, Roosevelt hired David Chalfin to help the firm grow via acquisitons and strategic partnerships.

Chalfin has since looked at more than 100 companies, Sheer said.

"We're very picky," Sheer said. "We want to make sure there's a cultural fit, a solid track record, good people that have been together a long time and preferrably in our geographic footprint, but not necessarily," he added, referring to the Boston to Washington areas.  

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