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Newday
Heske launched Newday in 2017 after a career building distribution platforms, including a stint where Jarrett Lillian, the former president of E*Trade, advised...
Newday
Heske launched Newday in 2017 after a career building distribution platforms, including a stint where Jarrett Lillian, the former president of E*Trade, advised the early effort. The firm operates as a registered investment adviser and runs separately managed accounts on the Charles Schwab platform, offering institutional-quality portfolios to individuals, family offices, and other fiduciaries. Newday deploys capital across three named strategies: the EQUI+CLIMATE global all-cap portfolio, a sustainable-dividends sleeve, and a broader global all-cap mandate. Each portfolio is built using a proprietary research process that the firm describes as "measurable, repeatable, and scalable." The research inputs are shaped by policy guidance from its 50-plus nonprofit partners, who interact with the firm through the Causeway affiliate. That structure allows Newday to treat impact evaluation as a material factor in security selection rather than a screen applied after the fact. For institutional clients and RIAs, the firm supplies model portfolios that can be customized to fit an incumbent strategy. The firm is headquartered in Tiburon, California, and communicates a lean team structure, with Betsy Moszeter listed as the contact for institutional inquiries. Publicly announced organizational milestones, team-size figures, or total assets under management are not disclosed, and the firm has made no public statements on deployment volumes or headcount as of mid-2026. Newday's structural differentiator is the Causeway affiliate: investment-management fees are routed to build community with nonprofits and to produce proprietary impact research, which then cycles back into portfolio construction. This architecture places the firm closer to the operating nonprofits whose work informs security selection than a typical thematic fund manager, creating a closed-loop that ties revenue directly to the depth of impact analysis.
General information
Firm type
Bank / Wealth / Trust
Year founded
2017
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Southbury
Corporate office
Tiburon, CA, United States
Principals
Doug Heske
Betsy Moszeter
Sector focus
Frequently asked questions
How does Newday's investment process incorporate impact research?
The firm operates a nonprofit affiliate called Causeway that partners with more than 50 mission-aligned organizations. Management-fee revenue from Newday's investment accounts funds these partnerships, and the insights from nonprofit collaborators are treated as material factors in security selection rather than as a post-hoc screen. This design means portfolio construction is directly informed by the organizations working on the ground.
What does Newday's relationship with Causeway actually look like in practice?
Causeway is an affiliated entity that channels Newday's management-fee revenue into building community and sharing impact stories for its 50-plus nonprofit partners. In exchange, Newday gains access to policy guidance and real-world impact data that the investment team uses to evaluate companies. The firm describes the structure as a way to learn alongside nonprofits and import material factors directly into the portfolio-management process.
Can an RIA or family office run Newday's strategies without moving custody?
Yes. Newday offers its impact strategies as model portfolios that can be delivered to a registered investment adviser who wants to retain fiduciary responsibility. These model portfolios can be customized to fit the adviser's overall investment strategy, so a family office or RIA is not required to custody assets on Newday's default Charles Schwab platform.
What investment strategies does Newday manage?
Newday lists three distinct portfolios: EQUI+CLIMATE, a global all-cap strategy focused on climate and energy-transition themes; a Sustainable Dividends portfolio; and a broader Global All-Cap strategy. All three are built using the firm's proprietary impact-research process and are available as both managed accounts and model portfolios.
Who runs the day-to-day portfolio management and institutional relationships?
The founder Doug Heske leads the firm, and Jarrett Lillian — former president of E*Trade — is cited as an early-stage adviser. For institutional portfolio inquiries, the firm directs prospective clients to Betsy Moszeter, who handles customization and relationship management for family offices and other institutional allocators.
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