Advisory · Intelligence · Insight

Better governance. Better decisions. Better outcomes.

Funston Advisory Services helps institutional boards see clearly, compare honestly, and decide well. We pair independent advisory with governance intelligence and just-in-time insight — so oversight is grounded in evidence and timed to the decisions in front of the board.

Decades
of institutional governance experience
~$3T
our clients' assets under management
60+
fiduciary & governance reviews
100+
decision-ready insight modules

Good governance is dynamic. It adapts to changing conditions to protect and create value over generations.

The problem we solve

Governance rarely fails loudly. It drifts silently.

Across institutions, a familiar pattern emerges: boards struggle not because governance is absent, but because its structure, policies, and practices are fragmented, inconsistent, and hard to operationalize.

Left unaddressed, the gaps compound. Decisions quietly drift from precedent, accountability blurs across leadership transitions, and the board's ability to act with prudence erodes — often invisibly, until a moment of consequence reveals it.

FAS helps institutions build governance that holds: continuous intelligence on where they stand, insight timed to the decisions they face, and advisory support to close the gaps that matter.

How we help

One system for better decisions — advise, measure, prepare

Most firms do one of these. The value is in the connection between them.

Advise

FAS AdvisoryGovernance advisory

Independent governance reviews, fiduciary audits, policy and operating-model design, and board evaluations — finding the structural gaps a board can't see, and a prioritized way to close them.

Measure

InGov®Intelligence & benchmarking

Our governance intelligence service scores governance against an absolute fiduciary standard first, then against credible peers — so a board knows exactly where it stands and where the highest-leverage improvements lie.

Prepare

Board Smart®Just-in-time insight

Our insights platform delivers the right intelligence to trustees, executives, and staff before the decisions on the calendar — with the questions a fiduciary should be asking on each topic.

Together: evidence to see clearly, benchmarks to compare honestly, and insight timed to decide well.

Who we work with

Built for institutions that steward capital across generations

Organizations governing at scale need more than periodic reviews and episodic education. They need a coherent governance architecture — where oversight, intelligence, and insight reinforce one another, so trustees can anticipate change, exercise informed judgment, and protect value for current and future beneficiaries.

Public Retirement Systems

Governance systems that strengthen fiduciary oversight, board effectiveness, and institutional continuity in increasingly complex regulatory and investment environments.

State Investment Boards

Structured governance frameworks, stronger oversight practices, and prudent stewardship of public capital across shifting market and political conditions.

Integrated & Multi-Employer Plans

Governance and operational guidance for organizations balancing investment and benefits oversight, complex stakeholder structures, and long-term sustainability.

Sovereign Wealth Funds & Endowments

Governance architecture, risk oversight, and decision systems that support resilience, continuity, and responsible growth across generations.

The pressures boards face

The bar for oversight keeps rising

Rising oversight expectations

Stakeholders, regulators, and beneficiaries hold boards to a higher standard — for decisions made, for decisions deferred, and for the discipline behind both. Performance is judged by the rigor of the process, not only the outcome.

More complex risk environments

Geopolitical, cyber, financial, operational, and reputational risks intersect and compound. Boards need a shared risk language, a common analytical foundation, and the conviction to act when the moment demands it.

Fragmented governance systems

Policies drift, practices vary across transitions, and hard-earned institutional knowledge dissipates rather than compounds — so strengths built over decades fail to codify into durable advantage.

Meeting these pressures takes more than added oversight. It takes governance built to integrate, endure, and adapt — the work FAS is built to support.

Why FAS

Led, governed, and advised from the inside

Our team has run and overseen public retirement systems, state investment boards, multi-employer plans, sovereign funds, and endowments — and built the proprietary intelligence that lets a board see how it compares. Firsthand experience, cross-system perspective, and independent judgment, in one firm.

Speak with our team

Governance conversations built around institutional needs

An initial conversation focused on your organization's governance priorities, oversight challenges, and institutional objectives.

Rick Funston
+1 (313) 919-3014 · rfunston@funstonadv.com
Evan Norton
+1 (647) 282-7454 · enorton@funstonadv.com
Sara Lussow
Managing Director, Board Smart® · slussow@boardsmart.com