Portfolio Manager
Raymond A. Beplat
President & Chief Investment Officer



Raymond A. Beplat is responsible for the management of each client portfolio.  He will establish investment guidelines for each relationship and communicate that information in writing at the time the account is opened.  In addition, he will provide a quarterly report to each client indicating how their portfolio has done along with market and economic commentary.

As Ray Beplat is the key person involved in constructing and managing client portfolios, the following biographical information is provided in order to demonstrate the span of his investment experience that has produced the investment performance results shown elsewhere.

Most recently, Ray was a Senior Director at BNY Mellon Wealth Management with responsibility for 80 client relationships covering 200+ accounts.  He set Investment Objectives for clients, constructed investment portfolios to help clients achieve their objectives, and met periodically with them to review results.  Importantly, during the stock meltdown in 2008, not one client relationship was closed, for any reason.  He formally retired after six years with BNY Mellon in December 2009.

Prior to that, Ray was a Senior Vice President and Senior Portfolio Manager at United States Trust Company of New York.  In addition to managing 50+ high net worth client portfolios, Ray was the initial portfolio manager for the Marine Corps University Foundation, a foundation created to help career Marine officers during advanced schooling.  He was also the first person to recommend the conversion of a perpetual charitable trust to a Unitrust after the Principal & Income Act became effective on January 1, 2002.  In addition, he was the portfolio manager for the Bank Fiduciary Funds, a mutual fund sponsored by the New York Bankers Association, from 1987 until its dissolution in February 2000, due to uneconomic asset size.

Before joining US Trust in 1996, Ray was a Vice President and Chief Investment Officer within the Trust Investment Division of Bankers Trust.  During his 14 year tenure there, Ray managed at various times, three equity and one fixed income Common Trust Fund.  He started the International Fund in July 1989 and managed it through the first five years of its existence.  Compared with Lipper International Mutual Funds, during that five year period it would have ranked #2 among 70 funds with a five year track record.  He also managed a large capitalization, Growth & Income oriented equity fund that surpassed the S&P 500 for 10 of the 13 years he managed it.

Prior to that, Ray worked for 10 years at Citibank, rising to Vice President during his tenure there.  He started as a corporate and US Government bond trader, then transferred to work on institutional portfolios, primarily of eleemosynary institutions, but also including a number of captive insurance companies and pension funds.  He then served a stint as the Administrative head of the Investment Research Department.  During this time he completed the requirements for the designation as a Chartered Financial Analyst,  and received his charter (#5408) in September 1978.  Beginning in 1977, he began working with high net worth clients.  He also served as the Private Bank’s Fixed Income Strategist, based on both his experience as a bond trader and his Master’s Thesis at Wharton Graduate on Bond Trading in Corporate Pension Funds.

From 1968 to 1970, Ray served as a Lieutenant in the U.S. Army Finance Corps, stationed at Fort Benjamin Harrison in Indianapolis, IN, where he was an instructor in Travel Allowances to successive classes of new Lieutenants.

Ray received his MBA from Wharton Graduate, University of Pennsylvania in 1968, with a major in Money & Banking and Investments.  He earned his Bachelor of Business Administration from Ohio University in 1966 with a major in Finance