Institutional Consulting
Built around the realities of institutional decision-making, we help clients align complex portfolios with real-world operating needs, long-term goals, and disciplined stewardship.
We Are Building Something Different
Through Monticello Associates, its boutique institutional consulting business, Cresset helps endowments, foundations, nonprofits, and family offices build investment programs designed to support enduring missions, multi-generational priorities, and financial strength.
Backed by 30+ years of institutional advising experience, our approach is intentionally focused on delivering tailored, long-term investment outcomes through senior judgment, rigorous research, and deep manager access.
Monticello by the Numbers
Years of Experience
Assets Under Advisement
Client Relationships
Average Client Relationship
Portfolio Size
Data as of 12/31/25
Who We Serve
Institutional capital is rarely simple. Each organization brings its own mission, governance, and investment constraints. We support thoughtful stewardship by translating those realities into a clear, customized investment strategy.
Endowments &
Foundations
Educational institutions, healthcare systems, community and private foundations, cultural organizations, and other long-horizon pools of capital.
Nonprofits &
Mission-Based Organizations
Nonprofits and mission-driven organizations managing operating reserves, long-term investment pools, or both under board and committee oversight.
Family Offices &
Multi-Generational Families
Family offices and complex family capital pools with formal governance seeking institutional-style investment programs.
Family Offices &
Multi-Generational Families
Family offices and complex family capital pools with formal governance seeking institutional-style investment programs.
What We Provide
Our services are designed to bring the full investment program together through coordinated advice that supports clear, consistent decision-making.
Foundation &
Endowment Consulting
A non-discretionary advisory partnership for committees that want institutional guidance while retaining decision-making authority.
Investment Policy
Development & Review
Strategic Asset
Allocation
We translate policy into cohesive, resilient portfolios where every allocation has a defined role in supporting long-term compounding.
Manager Research &
Due Diligence
Our senior team and dedicated analysts work together to evaluate managers and connect research directly to portfolio construction.
Risk &
Liquidity Analysis
We evaluate total-portfolio risk and liquidity to support spending needs and private market commitments across market conditions.
Portfolio Monitoring
& Reporting
We provide benchmarking, performance review, and customized reporting to help committees stay aligned with policy objectives.
Governance &
Fiduciary Education
We help boards and investment committees understand key trade-offs, prepare for decisions, and carry out their fiduciary responsibilities.
Ongoing Advisory
Partnership
We stay engaged through regular reviews, market updates, policy discussions, and committee support as needs evolve.
Ready to Discuss Your Investment Program?
Why Partner with Monticello
1.
Senior-Led Research
Monticello is built around a senior-led model, where experienced consultants are directly responsible for both client advice and investment research, conducting over 1,000 manager meetings annually.
2.
Institutional Scale With a Relationship-Driven Approach
With over three decades of experience advising institutional clients across $132B+ in assets, Monticello draws on a sophisticated network to deepen manager access and continuously sharpen our investment perspective.
3.
Truly Bespoke Portfolio Construction
Rather than fit clients into a model, we build the model around the client, translating each IPS into a portfolio thoughtfully tailored to their specific goals, risks, and constraints.
4.
Support for Real Committee Decision-Making
Investment committees need more than data. They need guidance, practical education, and defined governance, from a partner who understands stewardship. We help strengthen oversight while keeping authority where it belongs.
5.
A Bridge Between Institutional & Family Capital
Families with institutional-style investment programs can access an advisory model designed for complex capital pools. This is relevant for multi-generational families seeking a more disciplined investment framework.
How We Work With Clients
1.
Understand Your
Mission
We begin by understanding how capital supports your mission, how decisions are made, and which constraints shape the strategy.
2.
Build Policy
Framework
We translate the Investment Policy Statement into a practical strategy the committee can own and execute through full market cycles.
3.
Evaluate Portfolio & Managers
Senior consultants evaluate managers in total-portfolio context and bring clear recommendations with explicit risks, trade-offs, and implementation considerations.
4.
Support Ongoing Oversight
A dedicated team stays engaged through reporting, portfolio recommendations, and organizational changes, acting as an extension of your committee.
Meet With Our Team
Tell us about your organization, family office, or investment program. A member of our team will reach out to understand your goals and discuss how we may help.
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Frequently Asked Questions
Who is Monticello Associates?
Monticello Associates partnered with Cresset in 2025 through a strategic combination and now serves as its boutique institutional consulting business. Monticello is a highly specialized investment consulting firm providing non-discretionary investment advisory services to foundations, endowments, and family offices. Founded in 1992, the firm serves 170 long-term client relationships and oversees approximately $132 billion in assets under advisement as of 12/31/2025. Headquartered in Denver, Monticello also has offices in Cleveland, Boston, and Washington, D.C.
What is an institutional consultant?
An institutional consultant advises organizations and institutional-style investors on investment policy, asset allocation, manager selection, risk, liquidity, reporting, and governance. The consultant provides recommendations and oversight support to help committees make informed decisions.
What is institutional investment consulting, and how is it different from wealth management?
Institutional investment consulting is designed for organizations and complex capital pools with formal governance, long-term objectives, spending needs, and committee oversight. Wealth management often focuses on individuals and families, while institutional consulting typically centers on policy, portfolio structure, fiduciary process, and organizational mission.
What types of organizations do you serve?
We serve endowments, foundations, nonprofits, educational institutions, healthcare systems, community foundations, cultural organizations, and family offices with institutional-style investment programs.
What do endowments and foundations invest in?
Endowments and foundations may invest across public equities, fixed income, private markets, real assets, hedge funds, cash, and other strategies depending on their objectives, risk tolerance, liquidity needs, and governance structure.
What is an Investment Policy Statement?
An Investment Policy Statement, or IPS, is a governing document that outlines an investment program’s objectives, risk tolerance, liquidity needs, asset allocation framework, spending policy considerations, roles, responsibilities, and oversight process.
What does non-discretionary consulting mean?
In a non-discretionary consulting relationship, the consultant provides advice and recommendations, but the client retains final decision-making authority. This model can be a fit for boards and committees that want institutional guidance while maintaining control.
How do you research, select, and monitor investment managers?
Senior consultants are directly embedded in our research process, working alongside dedicated analysts across public and private asset classes. Together, they evaluate managers through direct engagement, quantitative analysis, qualitative assessment, operational due diligence, and ongoing monitoring, with a focus on investment process, organizational stability, alignment, risk behavior, and long-term return potential.
How do you work alongside an existing investment committee?
We support committees through policy development, education, research, reporting, portfolio recommendations, and meeting preparation. Our role is to help committees make disciplined, well-informed decisions while preserving the committee’s authority.