Funston Advisory Services, Bloomfield Hills, Michigan

Bloomfield Hills, Michigan

Bloomfield Hills, Michigan

Funston Advisory Services LLC (FAS) is recognized as one of the nation's preeminent advisors to public retirement systems in the areas of governance, operations and risk intelligence. We are distinguished by the caliber and experience of our team and the quality and pragmatism of our advice. Our approach is based on leading practices, tempered with decades of practical experience based upon what actually works in specific circumstances. We provide solutions to address complex problems which improve system performance.

Increasingly, we are the team that public retirement systems are turning to for help in governance and operational matters. We tailor our teams to each client's needs to ensure their success.

Over the past seven years, FAS has assisted a growing number of public retirement systems and sovereign wealth funds in evaluating their fiduciary performance and identifying governance, regulatory, risk, policy, and operational process improvement priorities.

We wrote the book - literally - on helping public pension trustees better understand their responsibilities, the unique world of public retirement system governance, and how their system compares to leading practices at peer systems. If you are interested in obtaining a copy of "One of a Kind! A Practical Guide for 21st Century Public Pension Trustees," click the book cover below.
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World Business Council for Sustainable...

(01/18/2017) The WBCSD report marks the first step in bridging the gap between the way companies consider sustainability issues in their risk management processes, and the way they disclose these risks to investors. The WBCSD is committed to helping companies move toward using, understanding and disclosing their sustainability risks and opportunities. This report creates a starting point for future efforts. The report demonstrates that there is more work to do in translating sustainability risks into the language of businesses, and the importance for companies to use mainstream risk disclosure models (such as COSO or ISO enterprise risk management frameworks) to bridge the gap.Rick Funston was one of a number of risk management experts across academic and consulting institutions who were asked to contribute to this report. Rick's contribution, "A Risk Intelligent View of the Competitive Ecosystem," can be found on page 32 of the report. To download the report, click here http://www.wbcsd.org/Projects/Non-financial-Measurement-and-Valuation/Resources/Sustainability-and-enterprise-risk-management-The-first-step-towards-integration and click on the VIEW (REPORT) button.

FAS Report on the New York State Common...

(07/15/2016) On July 14, 2016, New York State Comptroller Thomas DiNapoli released the "Fiduciary and Conflict of Interest Review of the New York State Common Retirement Fund" report prepared by Funston Advisory Services. The New York State Common Retirement Fund is the third largest public pension fund in the United States with estimated assets of $178.1 billion as of March 31, 2016. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The press release can be viewed at http://www.osc.state.ny.us/press/releases/july16/071416b.htm.The full FAS report is available on the Comptroller's website at http://www.osc.state.ny.us/reports/pension/NYSCRF_Fiduciary_and_Conflict_of_Interest_Review_2016.pdf Media reporting which referenced our report included:ABC News: "Outside Review Says NY Pension Fund Responsible, Needs Staff"http://abcnews.go.com/US/wireStory/review-ny-pension-fund-responsible-staff-40584216Pensions & Investments: "Review of New York pension fund holds words of caution" http://www.pionline.com/article/20160714/ONLINE/160719928/review-of-new-york-pension-fund-holds-words-of-cautionTime Warner Cable News: "DiNapoli Touts Independent Pension Review" http://www.nystateofpolitics.com/2016/07/dinapoli-touts-independent-pension-review/Global Investor: "Unbundling custody, FX and sec lending on the rise at US funds" http://www.globalinvestormagazine.com/Article/3571711/Unbundling-custody-FX-and-sec-lending-on-the-rise-at-US-funds.html Securities Lending Times: "Securities lending deserves own contract, says Funston" http://www.securitieslendingtimes.com/securitieslendingnews/article.php?article_id=220719#.V5I3k7grI2y

The Risk-Intelligent Public Pension Trustee...

(05/24/2016) May 24, 2016 April 2016 Government Finance Review is the Government Finance Officers Association’s (GFOA) bimonthly membership magazine. It publishes articles in the forefront of the public finance profession. The April 2016 edition features an article written by Rick Funston and Randy Miller which addresses evolving public pension governance challenges and suggests potential approaches for improving governance policies, structures and decision-making processes. Click here to read the article.
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