Institutional investment consulting firms Portfolio Evaluations Inc. and Proteus have entered into a strategic alliance where PEI will provide its U.S. consulting expertise to Proteus’ clients and Proteus will provide its Canadian expertise to PEI’s clients.
“PEI will ensure Proteus’ Canadian clients (with U.S. operations) receive complete fiduciary protection, ERISA guidance and investment advice, and Proteus will provide PEI’s U.S.-based clients (with Canadian operations) similar consulting expertise,” PEI said in a news release.
By leveraging each other’s cross-border experience, PEI and Proteus will help existing clients and hopefully add new clients, a PEI spokesman said.
Warren, N.J.–based PEI has more than $50 billion in assets under advisement. Toronto-based Proteus has C$15 billion ($11.6 billion) in assets under advisement.