SANTA MONICA, Calif.--(BUSINESS WIRE)--Sierra Investment Management, Inc., a firm focused on mitigating downside risk through their tactical investment disciplines, today announced that the firm has hired Skip Schweiss, CFP®, AIF®, as chief executive officer (CEO) of the Sierra Group of Companies, effective October 1, 2021.
In this newly created role, Mr. Schweiss will focus on the continued growth of the enterprise and demonstrating the value of Sierra’s investment strategies designed for individual investors, mutual funds, and turnkey asset management platform (TAMP) models. Sierra co-founders David Wright and Kenneth Sleeper will remain focused on the investment management side of the business, working with clients and other duties.
“Dave and I and the entire team at Sierra are delighted to welcome Skip, and we are thrilled to have someone of his caliber join us as our first CEO,” said Ken Sleeper. “Skip understands the advisor business and the unique challenges advisors face at a level few others do. Given his experience, expertise and network, we have no doubt that his addition will allow us to better meet the needs of investors and advisors as we continue to grow.”
Co-founder David Wright pointed out, “We are proud to support Skip’s ongoing volunteer role as President of the Financial Planning Association® (FPA®). Skip has made important contributions to legislation for the benefit of FPA’s 19,000 members and the broader financial advisor community, including independent RIAs like the Sierra Group.”
“I’ve known Dave and Ken for over 30 years and watched them build a unique firm that marries its time-tested, rules-based investing approach with best-of-breed client service,” said Skip Schweiss. “I’m joining Sierra at a time when the firm is experiencing significant growth, especially within the financial advisor community with the Sierra Mutual Fund and Ocean Park Asset Management investment offerings. Sierra is trusted by advisors and seeks to keep investors out of trouble through challenging market cycles. I’m honored to be the firm’s first CEO and look forward to playing a role in its continued growth.”
Mr. Schweiss currently serves as the volunteer president for the Financial Planning Association® (FPA®), the principal membership organization for CERTIFIED FINANCIAL PLANNER™ professionals and those who support the financial planning process and will remain in this post for the rest of the year. In 2020, Schweiss concluded a 12-year stint with TD Ameritrade, where he most recently served as President of TD Ameritrade Trust Company and Managing Director of Advisor Advocacy. His leadership enabled the company to grow its retirement plan services to more than 12,000 retirement plans and more than $40B in assets under administration.
“I can’t think of anyone better than Skip to help us show advisors and investors the value and utility of the Sierra approach,” said Dr. Sleeper. “Sierra’s focus on risk mitigation is a natural fit for retirees and other conservative investors, and while our recent growth is exciting, Skip can help take us to the next level.”
Before joining TD Ameritrade Institutional, Schweiss spent 20 years in various management positions within Fiserv Investment Support Services, including serving as Executive Vice President of Fiserv Trust Company, which was acquired by TD Ameritrade Holding Corporation in 2008. He earned a Bachelor of Science degree in business administration from the University of South Dakota and a Master of Science degree in finance from the University of Colorado. He is a CERTIFIED FINANCIAL PLANNER™ professional, an Accredited Investment Fiduciary (AIF®), received a Certificate in Financial Planning from Boston University in 2020, and holds Series 7 and 24 licenses from FINRA.
Schweiss resides in Denver with his wife and has three grown children. In his spare time, he enjoys outdoor recreation, including road biking, hiking, mountaineering, and skiing. He devotes considerable time to assisting those in his community through Habitat for Humanity, Special Olympics, his church, and other causes.
For more information on Sierra Investment Management, please visit www.sierrainvestment.com.
About the Sierra Group:
The Sierra Group of Companies ("Sierra") comprises Sierra Investment Management, Inc., Ocean Park Asset Management, Inc., and Wright Fund Management, LLC, which manages the Sierra Mutual Funds, which include Sierra Tactical Core Income Fund, Sierra Tactical Bond Fund, and Sierra Tactical Risk Spectrum 50 Fund.
Since 1987 it has been Sierra’s goal to help retirees and other investors preserve and grow their wealth. Through the years, Sierra has fine-tuned an investment approach specifically designed to limit downside risk and to provide returns that conservative investors would deem satisfying. Using decades of research and proven risk management disciplines, Sierra strives to help its clients meet their investment goals. The Sierra Group manages or advises over $9 billion in assets for clients.
Past performance does not guarantee future results and there is no assurance that any investment strategy will achieve its investment objective. Investors should carefully consider the investment objectives, risks, charges and expenses of the Sierra Mutual Funds. This and other information about the funds is contained in the prospectuses and should be read carefully before investing. The prospectuses can be obtained on sierramutualfunds.com or by calling toll free 1-800-729-1467.
The Sierra Mutual Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Neither Sierra Investment Management, Inc., Ocean Park Asset Management, Inc. nor Wright Fund Management LLC are affiliated with Northern Lights Distributors, LLC.
Some of the Sierra mutual funds invest in Underlying Funds that invest in foreign emerging market countries that may have relatively unstable governments, weaker economies, and less-developed legal systems, which do not protect investors. In general, the price of a fixed income security falls when interest rates rise. Any strategy that includes inverse securities could cause the Fund to suffer significant losses. Underlying Fund investments in lower-quality bonds, known as high-yield or junk bonds, present greater risk than bonds of higher quality. Municipal securities are subject to the risk that legislature changes and economic developments may adversely affect the value of the Fund’s investments. REIT risks include declines from deteriorating economic conditions, changes in property value, and defaults by borrower. Underlying Funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations to adverse business or economic developments. In some instances, it may be less expensive for an investor to invest in the Underlying Funds directly.