Overview
Firm Description
CapVisor Associates, LLC (“CapVisor”) is an investment advisory firm specializing in
serving the needs of the insurance industry. We provide highly customized insurance
asset management solutions including investment strategy design, strategic asset
allocation analysis, asset liability management, tactical portfolio optimization, investment
management firm selection and manager review and performance analysis. CapVisor
has been in operation since November 2008. Carl E Terzer, is principal, founder and
owner.
Carl E Terzer
Date of birth: November 17, 1958
Educational background:
Rutgers College, Rutgers University; B.S. in Business
Administration and Economics, 1980
Business experience:
2008 - Present: Principal and Founder of CapVisor Associates, LLC
2006-2008: Director of the Principal Global Investors (PGI) Insurance Advisory
Group
PGI is a division of Principal Financial Group, Des Moines, Iowa
1999 -2006: Senior Vice President and Director of the Brown Brothers Harriman
Insurance Asset Management Group
1996 -1998 Managing Director, Bankers Trust Company Insurance Asset
Management Group
Disciplinary information: none
Other business activities: none
Advisory Services
CapVisor provides investment advisory services to the insurance industry and private
clients. These services include:
1. Investment Advisory /Consulting - provide investment plan
design/revision (investment policy statement, guidelines, benchmarks, etc.),
strategic allocation analysis, tactical portfolio construction and rebalancing
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advice, implementation and ongoing monitoring of investment programs. In this
capacity, CapVisor functions much like a Rent- a-CIO.
2. Investment Advisory/Manager Selection - align unique client
requirements with best-in-class insurance asset managers to improve investment
results through CapVisor’s proprietary, multi-manager network.
Unbiased plan implementation and ongoing maintenance of client investment
programs are key attributes of each service
above.
3. Project Work - includes strategic asset allocation studies, tactical portfolio
optimizations, peer group analysis, trustee/custodian vendor analysis, etc.
4. Private Client Consulting - CapVisor also works with private
clients/individuals that are accredited/qualified investors as defined in the
Securities Act of 1933 and defined in Regulation D. (requiring an annual income of
at least $200,000 in each of the past two years ($300,000 for joint income) or a net
worth of at least $1 million). Our services are restricted to provide “advice-only” and
our relationship is Non-discretionary. At no time will CapVisor make decisions on
behalf of clients or take control over client assets for trading, safekeeping or other
purposes. Our services will be restricted to evaluating investment choices for clients
and providing research and recommendations of several alternative choices for the
client’s decision and action (execution of strategies, trades and cash movements).
Client Customization
All services are tailored to the unique requirements of each client. Correlating
appropriate investment strategies to the insurer’s liabilities (asset/liability management),
their business and investment objectives and risk tolerance are key components of our
approach to insurance asset management. We have over 100 years of collective
experience working with insurers and have honed our expertise in designing,
implementing and monitoring investment programs that are highly customized and
constrained by each client’s unique tax, accounting and regulatory situation.
As of March 31, 2024, CapVisor provides advisory services for over $ 587,451,446
insurance client assets on a non-discretionary basis. CapVisor does not manage
assets on a discretionary basis nor does it manage client assets internally. After an in-
depth evaluation of the insurance company client, including interviews with their
executive management, we will recommend appropriate external investment
management firms to clients to manage their securities portfolios.
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