The Sustained Success of Impact Investment Managers


 Impact Investment Managers pic

Impact Investment Managers

Norman Nabhan is a longtime member of Graystone Consulting Houston, a Morgan Stanley business where he provides family offices and institutional clients with a wide range of investment consulting solutions. In 2016, Norman Nabhan authored a Thompson Reuters article in “Taxation of Exempts” and explored the emerging landscape of impact investing.

In theory, impact investing is a practice in which a strict focus on returns is forgone in order to follow a socially conscious investment pathway. As Mr. Nabhan describes it, this is only half the story. As several investment manager return databases show, numerous asset managers have achieved excellent returns on investment while pursuing equity positions in corporations with well-defined environmental, social, and governance (ESG) dynamics. There is compelling evidence that a focus on strong environmental, social and governance issues can reduce headline risk for investors.

In addition, a number of professional asset management firms have taken on roles as activist investors and filed shareholder resolutions that have pushed companies into adopting positive ESG corporate policies. Issues in which progress has been made range from diversity in the boardroom and workforce to moving toward a sustainability commitment.


Norman Nabhan – Texas-Based Institutional Consulting Director


Norman Nabhan pic

Norman Nabhan

Possessing more than three decades of experience in finance and investments, Norman Nabhan serves Graystone Consulting at Morgan Stanley in Houston, Texas. As an institutional consulting director, he offers investment consulting services to clients. Specializing in asset allocation strategies and portfolio design, Norman Nabhan guides clients in terms of risk management and seeks to improve investment returns. Due to his training and experience in the industry, he is a managing director-wealth management and an institutional consulting director at Graystone. Graystone specializes in consulting to institutional pools of capital.
Prior to his role with Graystone, Norman Nabhan worked as national director of consulting for Citi/Smith Barney. During his time there, he helped to grow the business substantially. He was also president of Citigroup Investment Advisory Services, where he oversaw the discretionary management of assets totaling $6 billion.

During his career, Norman Nabhan has held a variety of positions within professional organizations. He served as president of the Investment Management Consultants Association (IMCA) and is also past president of the Association of Professional Investment Consultants (APIC). He is a former advisory board member to Boston College’s Center on Wealth and Philanthropy, He also served as chairman of the certification committee for the Investment Management Consultants Association.

Norman Nabhan – An Active Member of the Investment Community

Norman Nabhan pic

Norman Nabhan

A managing director at Graystone Consulting in Houston, Texas, Norman Nabhan has over four decades of experience assisting institutional investors. He specializes in investment allocation strategies and helps clients minimize risk while improving investment returns. Over the course of his career, Norman Nabhan has worked to stay current with the latest best practices in the investment industry. His professional accomplishments include earning the Certified Investment Management Analyst (CIMA) designation from the Investment Management Consultants Association (IMCA), an organization with which he holds a longtime membership.

A member of the IMCA Board of Directors for eight years, Norman Nabhan also served for two years as the association’s president. His other roles with IMCA include leading the group’s Certification Committee. He has since been designated an IMCA director emeritus. Beyond his activities with IMCA, Mr. Nabhan previously served as president of the Association of Professional Investment Consultants. He has also spoken before various industry groups and academic institutions.

Investment Management Executive Norman Nabhan

Norman Nabhan pic

Norman Nabhan

Purdue University graduate Norman Nabhan is a Managing Director of Morgan Stanley’s Graystone Consulting business, based in Houston, Texas. In this role, Norman Nabhan leverages 40 years of experience to provide investment advisory services to a range of clients from many arenas including hospitals, foundations and the nonprofit sector.

In addition to providing advisory services to the nonprofit sector, Mr. Nabhan personally supports the efforts of groups like the Sigma Phi Epsilon Foundation, an organization that offers leadership programs and scholarships to undergraduate and graduate university students. He is an active member of Sigma Phi Epsilon National Fraternity and has served as a member of its National Board of Directors and as its National Treasurer for 16 years and National President for 2 years. Norman Nabhan further supports higher education through his involvement with the University of Texas School of Law CLE Nonprofit Organizations Workshop and Institute. He has spoken on topics related to his career as a nonprofit and investment management executive at the institute’s annual conference every other year since 2012. He has also served as the President of the Investment Management Consultants Association (IMCA) which supports Ethics and ongoing education for the investment consulting community.

Investment Management Consultants Association Hosts Conference

Investment Management Consultants Association pic

Investment Management Consultants Association

With more than three decades of experience working in investment policy, Norman Nabhan serves as managing director of Graystone Consulting in Houston, Texas. To remain engaged with the investment sector, Norman Nabhan maintains membership with several professional affiliations, including the Investment Management Consultants Association (IMCA), of which he is a former president.

Established in 1985, IMCA offers wealth management credentials and premier investment consulting services. With a representation of more than 11,000 members found in 37 countries, the IMCA sets global standards for the investment management consulting profession. According to the organization, as of 2016, more than half of its members possess more than 20 years of experience working in the industry.

To connect to its members, IMCA sponsors an annual meeting with the 2017 event scheduled for April 30 through May 3 at the San Diego Convention Center. Geared specifically for investment and wealth professionals, this meeting features keynote speakers as well as opportunities to learn about industry trends and network with like-minded individuals. Scheduled to speak at the 2017 meeting are Jeremy Siegel, who is the Russell E. Palmer Professor of Finance at The Wharton School, University of Pennsylvania; Richard Thaler, who is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the Chicago Booth School of Business; and Michael Sandel, who is the Anne T. and Robert M. Bass Professor of Government at Harvard University.

Norman Nabhan Recommends University of Texas Law Nonprofit Organizations Institute

Norman Nabhan is a member of Graystone Consulting Houston, a
business of Morgan Stanley. He provides investment consulting services
and specializes in asset allocation and asset manager search strategies.
Mr. Nabhan has been a speaker at the University of Texas (UT) School of
Law Nonprofit Organizations Institute, an event for continuing legal
and accounting education for professionals that work in the Nonprofit
arena.  Many Nonprofit leaders attend annually for updates on current
legal, accounting and investment issues relevant to the Nonprofit
community.   The event is sponsored by the University of Texas Law
School Continuing Legal Education (CLE).

The conference brings
together financial professionals, government experts, lawyers, and more
to discuss tax laws and legislation in the private and nonprofit
sectors. This year’s event was held in January, and 2014 conference
dates have been secured: January 16-17, 2014, at the Four Seasons Hotel
in Austin. As the 2014 conference schedule is confirmed, attendees will
be able to view details and register online.

CLE also sponsors
the Conference on Criminal Appeals, the Labor and Employment Law
Conference, and the Technology Law Conference, among others.

Accredited Investment Fiduciary: An Overview By Norman Nabhan

The Accredited Investment Fiduciary distinction carries great weight in the financial industry. Referred to as AIF, the purpose of the designation is to train investment fiduciaries in the best practices and teach proper legislation procedures.

Investment fiduciaries come under constant examination because they work with finances and assets. By equipping themselves with the industry’s best practices and knowledge of legislation, AIF certification decreases the likelihood that investors might inadvertently make errors that could attract legal ramifications. AIF certification encompasses learning how to properly determine compensation for their services, respect the boundaries of their knowledge, and avoid exploiting relationships.

Investors who hold AIF distinction are expected to serve as an example of proper ethics to members of their community. They accomplish this objective by demonstrating responsible use of materials and information and striving to practice their craft in ways that serve their profession and their peers.

About the Author

Norman Nabhan’s career in financial services dates back to 1973, when he began his career as an account executive. He earned the designation of Certified Investment Management Analyst (CIMA) awarded by the Investment Management Consultants Association in conjunction with the Wharton School of Business and received his AIF certification from the Center for Fiduciary Studies.