Alan Biller and Associates

Alan Biller and Associates

Alan Biller and Associates was founded in 1982 by Alan Biller, who positioned the firm as an early provider of discretionary investment consulting, effectively operating as an outsourced chief investment officer. The firm's client base consists primarily of US institutional investors, notably Taft-Hartley pension plans, endowments, and foundations, for whom it constructs and manages multi-asset portfolios. The firm runs a manager-of-managers model, allocating across public equities, fixed income, hedge funds, private equity, private credit, and real assets. Rather than selecting single managers, it typically blends multiple sub-advisors within an asset class to control risk. The geographic focus is predominantly US, though the underlying managers may invest globally. The firm does not publicize individual manager selections, consistent with its role as a fiduciary gatekeeper rather than a brand-name allocator. The firm has historically operated with a lean consulting-oriented staff from its single Menlo Park office. Biller, as President and CIO, has maintained a low public profile while advising multi-billion-dollar pension portfolios. The firm is structured as an independent advisory, unaffiliated with larger financial conglomerates. In recent years, the competitive landscape for OCIO services has intensified as larger consultants and asset managers have entered the segment. Alan Biller's structural differentiator is longevity and independence in a niche that has since attracted heavy competition. The firm was established decades before the term 'OCIO' became an industry standard, insulating it from the asset-gathering conflicts typical of managers who later added consulting arms. This pure-advisory architecture remains its defining characteristic.