A New, Strategic Partnership

Press Release: July 19, 2016

New Market Wealth Management announced today that Cliffwater LLC—a prominent investment advisory firm that provides institutional investors with advisory services, research, and alternative assets expertise— has become an equity owner and has entered into a strategic partnership with the firm.

With over $70 billion in assets under advisement, and a client list that includes some of the largest state and private pension plans in the country as well as university endowments, foundations and other financial institutions, Cliffwater is known for its extensive research on asset allocation and non-traditional (alternative) investments. The firm has more than 50 professionals—over 30 of whom are dedicated to research. Cliffwater LLC is based in Los Angeles and has offices in New York City. Privately owned, Cliffwater was founded in 2004 by senior members of a large advisory firm. Based in Costa Mesa, California, New Market Wealth Management was founded in 2014 as a fee-only advisor providing holistic investment management counsel and services.

“Investors are besieged with complex investment options, often accompanied by unknown fees and conflicts,” said Daryl Deke, New Market Wealth Management’s CEO. “Cliffwater’s strategic partnership with our firm provides us with enhanced tools to thoroughly examine and evaluate investment opportunities on behalf of our clients. We will now have access to what we consider superior research, sophisticated institutional-quality portfolio construction tools, top-tier managers and exhaustive manager due diligence.”

Like New Market Wealth Management, Cliffwater is a registered investment advisor and acts in a fiduciary capacity for its clients; both firms prize knowledge and research as fundamental building blocks of successful investing; and each embraces the benefits of adding complementary, non-traditional (alternative) investments to portfolios with the goal of reducing volatility over time, without sacrificing returns.

“We are excited to work with a firm that has a tremendous amount of integrity and that shares our culture, investment philosophy, commitment to clients, and dedication to research. We are looking forward to a long-term strategic partnership with New Market Wealth Management,” said Cliffwater CEO, Stephen Nesbitt.

New Market Wealth Management has a national client base. The firm anticipates an expansion strategy that includes the opening of offices in other parts of the country, as well as a continuation of recruitment and acquisitions. “We will be expanding with advisors and firms looking to provide high quality investment advice based on independent research,” added Deke. “The institutional asset management business has moved away from tolerating proprietary products and high fees. Clearly, sophisticated families are moving in that same direction and we can now serve those needs through our strategic partnership with Cliffwater.”