Direct Client Investments

Our approach is highly customized to each portfolio’s investment objectives. Our Direct Client group has broad cross-market expertise and long-term experience interacting with financial intermediaries, attorneys and accountants in addressing client-specific issues such as tax considerations, estate and planning issues, gifting, and retirement & pension factors.

We work directly with clients and their advisors to construct customized portfolios designed to achieve their investment goals. We manage our portfolios with a long-term outlook and we seek to preserve and enhance the capital base while achieving a tax efficient risk-adjusted total return.

Portfolio Construction and Investment Management

We provide a highly focused, highly disciplined approach to the construction and management of a portfolio. Our process is outlined below:

  • Identify client investment objectives and any specific circumstances
  • Discuss and identify opportunities, noting any limitation in the prevailing market environment that will aid or limit the achievement of investment objectives
  • Develop written guidelines with clients for each portfolio in conjunction with advisors or family members if appropriate
  • Review portfolio optimization model to assess risk and return of various asset allocations
  • Structure and manage each portfolio focusing on net after-tax return
  • Maintain regular written and personal communication with clients and advisors

We seek to establish a clear investment plan that addresses client objectives and reduces distraction from short-term market events.  We believe that through this method we can maintain a long-term focus while preserving the stability of the capital base.

We are mindful of the tax ramifications of our investment decisions because many of our clients have high tax burdens.  Also important to us is our multi-generational approach to increasing a family’s wealth.

Core Principles

  • Individual and family-oriented approach
  • Specialized portfolios and strategies
  • Tax efficient investing
  • Diversification
  • Long-term strategic investment horizon
  • Identify short-term tactical opportunities
  • Portfolios developed in synergy with other investments

Communication Service Model

Our value to our clients stems not just from our investment expertise, but from our service model. Communication is not incidental to what we do. It is integral to our investment process and joint success.

We are accessible to clients. We speak and meet regularly with clients and their advisors to review portfolios, asset allocation, investment objectives and performance as well as provide other financial advice and assistance. Our advanced technology base and efficient administrative support give clients and their advisors access to reliable, timely information.

We coordinate with client advisors, attorneys, and accountants in providing efficient and timely reporting.

Team

A seasoned team of fixed income and global equity specialists.

Investment Professionals

Carolyn N. Dolan, CFACarolyn N. Dolan, CFA

Executive Vice President, Head of Direct Client Investments

Carolyn is Head of Direct Client Investments and a member of the Management Committee. She also sits on the Fixed Income Investment Committee and Tactical Asset Allocation Committee and directs and manages portfolios for high net worth individuals.

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Carolyn was a co-founder and a Managing Principal of Samson Capital Advisors LLC. Samson was a privately-owned investment management firm that was founded in 2004 by senior investment professionals from OFFITBANK, Goldman Sachs, and JPMorgan. Prior to its acquisition by Fiera Capital, Samson managed over $7 billion in assets in customized fixed income for affluent families and their foundations, endowments and corporations. Carolyn was a member of the Management Committee, and the Chairman of the Principals Meeting, She was also a Portfolio Manager and served as a member of the Investment Committee.

Prior to Samson, Carolyn was a cofounder of OFFITBANK, which in 2002 after the firm’s merger with Wachovia, was restructured and changed to OFFIT Investment Group. At Wachovia, Carolyn was a Senior Vice President and the Senior Managing Director of OFFIT Investment Group. In this role, she led the firm’s 25 person Tax Sensitive Fixed Income management team; while in this role, the OFFIT three municipal funds achieved and maintained Morningstar 5 star ratings.  Prior to OFFITBANK’s purchase by Wachovia, Carolyn was responsible for the firm’s high net-worth investment group and was a member of the Management Committee. She was integrally involved in the management and analysis of taxable and tax-exempt portfolios and managed OFFITBANK’s New York Municipal Bond Fund, which achieved a Morningstar 5 star rating during the five years that Carolyn managed the account. Carolyn was on the firm’s investment strategy committee and portfolio review committee. She represented OFFITBANK as a trustee on various fiduciary accounts and worked extensively with clients on asset allocation and manager selection decisions.

From 1978 to 1983 she was associated with Julius Baer Securities, Oppenheimer Capital Corporation and Equitable Life Assurance as a portfolio manager, investment analyst and quantitative analyst. At Equitable, she was a senior team member in the restructuring of a multi-billion dollar Taft-Hartley Fund.

She currently serves as a Trustee of Fordham University and serves on the Finance/Investment and Audit Committees. She has served on the boards of the Cathedral School of St. John the Divine and Marymount College. Carolyn is presently on the boards of Mutual of America Funds, Inc., and Market Street Trust Company. She is a member of The Economic Club of New York.

Carolyn received an MS Degree from the Columbia School of Social Work in 1977 and an MBA from Columbia University in 1978. Carolyn graduated from Marymount College in 1968 and was a social worker for the state of New Jersey from 1968 to 1975. She is also a CFA charterholder.

Joseph A. Abraham, CFAJoseph A. Abraham, CFA

Senior Vice President, Direct Client Investments

Joe directs portfolio management for high net worth individuals. He is a member of the Fixed Income Investment Committee, Equity Index Subcommittee, and Tactical Asset Allocation Committee.

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Joe was a co-founder and Principal of Samson Capital Advisors LLC.  Samson was a privately-owned investment management firm that was founded in 2004 by senior investment professionals from OFFITBANK, Goldman Sachs, and JPMorgan.  Prior to its acquisition by Fiera Capital, Samson managed over $7 billion in assets in customized fixed income for affluent families and their foundations, endowments and corporations. At Samson, he worked with individual clients and their advisors to best structure their investment portfolios to suit individual objectives and investment constraints.  He was also a member of Samson’s equity allocation committee. Joe was a regular contributor to Samson’s market bulletins and quarterly commentary.  He continues in his responsibilities at Fiera Capital, helping decide and direct the Firm’s investment strategy.

Joe directs portfolio management for high net worth individuals. He is a member of the Fixed Income Investment Committee, Equities Allocation Committee, and Tactical Asset Allocation Committee.  Prior to joining Samson, Joe was a Senior Portfolio Manager with the Offit Investment Group (formerly OFFITBANK), focusing primarily on structuring and managing municipal bond portfolios for high net worth individuals. Joe is also an equity analyst and was responsible for analyzing and assessing the firm's allocation to stocks and equity mutual funds. Previously, Joe was the Director for the Sanwa Bank's U.S. tax group. Prior to that, he was a manager in KPMG's International Bank Tax Consulting and Compliance group, with responsibility for a number of their largest European and Asian banking clients.

Joe received his BA and MA in Middle Eastern Studies and Economics from Georgetown University in 1980, an MBA in Finance from the Wharton School of the University of Pennsylvania in 1984, and an MS in Accounting from the University of Virginia in 1991. Joe is a CFA charterholder.

Peter M. Gagliano, CFA, CMTPeter M. Gagliano, CFA, CMT

Vice President, Direct Client Investments

Peter manages portfolios for high net worth individuals and is a member of the Equity Index Subcommittee.

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Peter joined Samson Capital Advisors LLC in 2010 as a Portfolio Analyst.  Samson was a privately-owned investment management firm that was founded in 2004 by senior investment professionals from OFFITBANK, Goldman Sachs, and JPMorgan.  Prior to its acquisition by Fiera Capital, Samson managed over $7 billion in assets in customized fixed income for affluent families and their foundations, endowments and corporations.  Peter aided in the development of Samson’s other investment offerings in equity, high yield fixed income, and closed-end funds and served as a member of Samson’s equity allocation committee.

Prior to joining Samson, Peter spent 5 years as an Investment Strategist at U.S. Trust, Bank of America Private Wealth Management. While at U.S. Trust, Peter evaluated ultra-high net worth client portfolios, created customized asset allocation proposals, aided in the development of the firm's capital market assumptions and asset allocation guidelines, and developed and managed model ETF portfolios.

Peter graduated Magna Cum Laude from Lafayette College with a BA in Economics & Business. He is a member of the Phi Beta Kappa and Omicron Delta Epsilon academic honor societies. Peter is a CFA and CMT charterholder.

Donald M. Wilkinson, III, CFADonald M. Wilkinson, III, CFA

Vice Chairman and Chief Investment Strategist for Global Equity and Tactical Asset Allocation

Don manages the Thematic Equity Strategy, including Global Equity, Global Balanced, Global Franchise Equity and Domestic Equity portfolios for direct and advisory clients and chairs both the Global Equity Investment and Tactical Asset Allocation Committees of the U.S. division of Fiera Capital.

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Prior to joining Fiera Capital Inc., Don was the Chief Executive Officer at Wilkinson O’Grady & Co. (“Wilkinson O’Grady”) where he was responsible for the day-to-day management and strategic direction of the firm and also served on the Board of Directors.  Wilkinson O’Grady, a global equity and bond manager founded in 1972, was acquired by Fiera Capital Corporation in October 2013 and changed its name to Fiera Capital Inc. in October 2015.  Don joined Wilkinson O’Grady in 1994 and helped the firm grow from $290 million in assets under management to more than $2 billion at the time of the Fiera Capital Corporation acquisition.  He joined Wilkinson O’Grady after working two years in the corporate finance and derivatives groups at Chase Manhattan Bank and four years in a retailing subsidiary of the CML Group.

He is a member of the NYSSA and the CFA Institute.

Don holds a B.A. from Washington and Lee University and an M.B.A. from the University of Virginia.

Client Services

Sandy Pang, Client Services Associate
Deena Singh, Client Services Associate