Latest news with #CAIA
Yahoo
5 days ago
- Business
- Yahoo
Meketa Investment Group Welcomes New Shareholder
BOSTON, June 05, 2025--(BUSINESS WIRE)--Meketa Investment Group ("Meketa"), a global investment consulting and fiduciary management (OCIO) firm, today announced it has expanded its employee ownership to include one new shareholder. Matt Curran, CFA, CAIA, has joined the firm's ownership group, recognizing his significant contributions to Meketa's research and consulting work. With employee ownership of over 70 shareholders, Meketa continues its growth trajectory. Curran is a Research Consultant on Meketa's Public Markets Manager Research team, where he plays a key role in the evaluation and selection of equity investment managers. He joined Meketa in 2017 and has since supported the firm's consultants in delivering manager research insights to clients. Matt holds a Bachelor of Arts in Biology from the College of the Holy Cross and is both a Chartered Financial Analyst® (CFA) and a Chartered Alternative Investment Analyst (CAIA) charterholder. "Two of our values focus on growth and culture," said Peter Woolley, Managing Principal and Co-Chief Executive Officer at Meketa. "Matt becoming a shareholder reinforces both these critical values, as we support the growth of resources and foster an environment in which employees thrive." "Matt's elevation to shareholder reflects the dedication and insight he brings to our manager research platform," said Hayley Tran, CFA, CAIA, Head of Global Equity Research. "His thoughtful approach to equity manager selection has helped strengthen our recommendations and, ultimately, our client portfolios." Meketa remains committed to providing independent advice and customized investment solutions for clients across the public and private sectors, endowments and foundations, and other institutional investors. Meketa serves as a true partner, fostering deep relationships to understand each client's distinct mission and goals, and delivering best-in-class advice, support, and execution to help them achieve their investment objectives. About MeketaFounded in 1978, Meketa is an employee-owned, full-service investment consulting and fiduciary management (OCIO) firm. As an independent fiduciary, the firm serves institutional investors in nondiscretionary and discretionary capacities. Meketa's collective client assets under advisement represent approximately $2.3 trillion as of December 31, 2024. For more information, please visit View source version on Contacts Daniel AbramsonGregory FCAdabramson@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
Meketa Investment Group Welcomes New Shareholder
BOSTON--(BUSINESS WIRE)--Meketa Investment Group ('Meketa'), a global investment consulting and fiduciary management (OCIO) firm, today announced it has expanded its employee ownership to include one new shareholder. Matt Curran, CFA, CAIA, has joined the firm's ownership group, recognizing his significant contributions to Meketa's research and consulting work. With employee ownership of over 70 shareholders, Meketa continues its growth trajectory. Curran is a Research Consultant on Meketa's Public Markets Manager Research team, where he plays a key role in the evaluation and selection of equity investment managers. He joined Meketa in 2017 and has since supported the firm's consultants in delivering manager research insights to clients. Matt holds a Bachelor of Arts in Biology from the College of the Holy Cross and is both a Chartered Financial Analyst® (CFA) and a Chartered Alternative Investment Analyst (CAIA) charterholder. 'Two of our values focus on growth and culture,' said Peter Woolley, Managing Principal and Co-Chief Executive Officer at Meketa. 'Matt becoming a shareholder reinforces both these critical values, as we support the growth of resources and foster an environment in which employees thrive.' 'Matt's elevation to shareholder reflects the dedication and insight he brings to our manager research platform,' said Hayley Tran, CFA, CAIA, Head of Global Equity Research. 'His thoughtful approach to equity manager selection has helped strengthen our recommendations and, ultimately, our client portfolios.' Meketa remains committed to providing independent advice and customized investment solutions for clients across the public and private sectors, endowments and foundations, and other institutional investors. Meketa serves as a true partner, fostering deep relationships to understand each client's distinct mission and goals, and delivering best-in-class advice, support, and execution to help them achieve their investment objectives. About Meketa Founded in 1978, Meketa is an employee-owned, full-service investment consulting and fiduciary management (OCIO) firm. As an independent fiduciary, the firm serves institutional investors in nondiscretionary and discretionary capacities. Meketa's collective client assets under advisement represent approximately $2.3 trillion as of December 31, 2024. For more information, please visit
Leader Live
26-05-2025
- Health
- Leader Live
Wrexham MS reveals plan to improve school children's diets
MS for Wrexham Plans are being put forward by the Welsh Government aimed at ensuring every child in Wales has access to a balanced diet in school. A consultation was launched last week seeking views on proposals which will see primary school menus increase fruit and vegetables, helping more children get their five-a-day. Sugary desserts and fried food will also be limited, in line with UK dietary guidelines. Evidence shows that, on average, children eat too much sugar and don't eat the recommended amounts of fruit, vegetables and wholegrains. This contributes to health issues such as childhood obesity and currently one in four reception-aged children are categorised as overweight or obese. All primary school children in Wales receive free school meals thanks to the Welsh Government – now the rollout is completed, the aim is to make the healthy choice the easy choice. Good nutrition helps children perform better and reach their full potential. It is hoped these changes will help children develop healthy eating habits and nurturing a generation of healthy eaters will help safeguard the future of the NHS. If any parents, teachers, suppliers or young people wish to offer their views, the consultation, which can be found on the Welsh Government website, is now open and closes on 29 July. It has been good in recent weeks to catch up with the Wrexham Academy of Screen Acting (WASA). Based at their studio at the former Kings Mill Visitor Centre, they're passionate about helping aspiring actors develop the skills they need for film, TV and digital media, and they're doing some amazing work in the community. I visited the team a few weeks ago as they wrapped up working and filming with Caia Park Neets. Their short film, 'CAIA' was debuted at Focus Wales. It was amazing to see what they produced in such a short space of time and I was pleased to hear the feedback was extremely positive. WASA are also working with award winning screenwriter and playwright, Peter Cox MBE on a project that will focus on the Gresford Mining disaster. Wrexham is in the spotlight like never before. The city's arts and creative industry is growing and the Wrexham Academy of Screen Acting has a big part to play. As always, if you're a constituent in Wrexham and there is an issue I could help you with, please contact me via email: or call 01978 355743.
Forbes
09-05-2025
- Business
- Forbes
Colorado's AI Law Still Stands After Update Effort Fails
Colorado made history in 2024 by becoming the first state in the nation to enact comprehensive regulation of artificial intelligence. Senate Bill 24-205 (SB205), also known as the Colorado Artificial Intelligence Act (CAIA), established detailed compliance obligations for developers and users of "high-risk" AI systems operating in employment, housing, finance, health care, education, and essential government services. The CAIA was intended to address concerns about algorithmic discrimination, requiring transparency, risk assessments, consumer disclosures, and risk mitigation by February 1, 2026. For employers using AI in hiring, the law introduced a sweeping new compliance landscape. While it was widely seen as a pioneering move, it also raised concerns about complexity, innovation, and unintended consequences. When Governor Jared Polis signed SB205 into law, he did so with notable hesitation. In his signing statement, Polis warned that the law creates a "complex compliance regime" that could "tamper with innovation and deter competition" by imposing heavy burdens on developers and deployers operating in Colorado or interacting with Colorado residents. He urged Congress to step in with federal regulation to prevent a patchwork of state AI laws that could stifle technological advancement across industries. Polis also highlighted a unique concern: the CAIA deviates from traditional discrimination frameworks by prohibiting all discriminatory outcomes from AI systems, regardless of intent. He encouraged Colorado lawmakers to reexamine this standard before the law's 2026 effective date. In a rare public letter co-signed by Governor Polis, Attorney General Phil Weiser, and Senate Majority Leader Robert Rodriguez, state leaders acknowledged the risks tied to the CAIA's broad definitions and disclosure requirements. They pledged to minimize unintended consequences and encouraged future refinements to protect innovation while ensuring fairness. In 2025, legislators introduced Senate Bill 25-318 (SB318) as an attempt to refine and soften SB205 before its effective compliance date. SB318 proposed thoughtful amendments, including narrowing the definition of "algorithmic discrimination" to violations of existing anti-discrimination laws, carving out exemptions for small businesses and open-source AI developers, clarifying appeal rights and disclosure obligations, easing requirements for companies using AI solely for recruitment and hiring of external candidates, and providing a critical exemption for AI systems producing consumer reports governed by the Fair Credit Reporting Act (FCRA). For background screening companies and employers who rely on AI-assisted background checks, these changes were meaningful. SB318 recognized that services already regulated under the FCRA should not face duplicative AI compliance obligations and that employment decisions made with meaningful human review differ fundamentally from fully automated systems. Attorney General Phil Weiser, testifying before the Senate Business, Labor, and Technology Committee, warned that Colorado risked "moving ahead too quickly in a complex area" and recommended delaying the law's implementation by a year to avoid "unintended consequences" and protect the state's competitiveness in emerging technology sectors. Despite broad support from stakeholders across sectors, the proposed fix failed to gain consensus. On the final day of its committee hearing, Senator Rodriguez asked for SB318 to be postponed indefinitely, citing a lack of agreement and insufficient time to resolve complex concerns. Without legislative fixes, Colorado employers and AI developers must now prepare to comply with the original, more expansive law by February 1, 2026. Despite its challenges, the Colorado Artificial Intelligence Act provides several important safeguards for employers and background screening companies. Most notably, enforcement authority rests exclusively with the Colorado Attorney General. By excluding private rights of action, the law spares businesses from the added litigation risks often associated with emerging regulatory regimes. In addition, the law allows companies to assert an affirmative defense by showing that they identified and cured violations through internal processes, encouraging proactive compliance efforts rather than penalizing good-faith mistakes. The Act also focuses its strictest obligations on AI systems that serve as the principal basis for consequential decisions without meaningful human involvement. This structure suggests that traditional background screening tools, which typically involve a human review of findings before an employment decision is made, may fall outside the most burdensome requirements. Under the Colorado Artificial Intelligence Act, the distinction between providing information to inform a decision and making the decision itself is critical. A consumer reporting agency that supplies background check reports, particularly under the Fair Credit Reporting Act's procedural safeguards, generally does not act as the final decision-maker. Instead, employers retain discretion and must undertake individualized assessments before taking adverse action, preserving meaningful human involvement. While Senate Bill 25-318 would have codified a clear exemption for systems governed by the Fair Credit Reporting Act, even without its passage, the law's emphasis on final decision-making authority may point toward more favorable treatment for employment background checks that comply with federal consumer reporting standards. However, employers should not assume that FCRA compliance alone will shield them from all AI-related obligations. How AI systems are deployed, the level of human review involved, and the extent to which automated outputs influence final decisions will remain critical factors in determining compliance risks under the Colorado AI Act. While these statutory protections may ease some compliance burdens, employers and consumer reporting agencies must remain mindful of several significant risks under the Colorado Artificial Intelligence Act. The Act defines an "artificial intelligence system" broadly as any machine-based system that infers outputs from inputs, which risks capturing traditional automation tools and rules-based adjudication technologies not typically associated with adaptive learning or bias. Without a clear narrowing to machine-learning systems, background screening and compliance support tools could fall within the scope of regulation. The definition of "high-risk" artificial intelligence systems also raises questions. Under the law, any AI system that substantially influences employment decisions could be deemed high-risk, even if the final decision involves meaningful human judgment. Employers using AI tools to assist in background checks or hiring assessments will need to carefully evaluate the level of human oversight embedded in their processes. The law's consumer disclosure requirements may create operational burdens as well. Employers must notify individuals when AI meaningfully influences a consequential decision and must explain the system's role in the decision-making process. Meeting these requirements will likely depend on AI vendors providing detailed technical disclosures, which could present challenges if vendors are unwilling or unable to share the necessary information. Finally, recordkeeping requirements under the Act demand that companies retain documentation of impact assessments and risk management policies for at least three years after deploying a high-risk system. These obligations may impose additional recordkeeping burdens compared to existing federal standards under the Fair Credit Reporting Act or Equal Employment Opportunity Commission regulations, creating potential tension between state and federal compliance frameworks. Employers will need to align their documentation procedures carefully to avoid conflicting retention obligations. While Colorado's pioneering law reflects important goals of fairness and transparency in AI use, the failure to adopt SB318 leaves employers with significant compliance uncertainty. The original law's breadth risks capturing low-risk technologies and could dampen innovation in hiring, screening, and HR technology. Employers using AI, whether directly or through third-party vendors, must take proactive steps now. Reviewing AI risk management practices, ensuring human oversight of decision-making processes, and preparing robust disclosures will be essential ahead of the February 1, 2026 deadline. In the absence of federal intervention, Colorado's experience offers a preview of how states might shape the next chapter of AI regulation and why careful drafting will be key to balancing innovation with consumer protection.
Associated Press
08-04-2025
- Business
- Associated Press
Modern Wealth Adds $1 Billion in AUM With Two New California Acquisitions
Modern Wealth Management ('Modern Wealth'), a registered investment advisory (RIA) firm founded to meet the evolving needs of today's financial professionals and their clients, today announced two asset purchase agreements to power its expansion in California and propel its assets under management (AUM) to over $7 billion. The firm has finalized the acquisition of Wade Financial Advisory ('Wade Financial') and expects to close on the acquisition of Planned Asset Management in the coming weeks. Based in Campbell, California, Wade Financial is a fee-only financial planning firm with a dedicated tax planning and preparation business that integrates taxes, equity compensation, investments, risk management, real estate, retirement and estate planning. The firm manages more than $700 million in assets and serves over 250 households in the greater Silicon Valley area, including technology entrepreneurs, professionals, executives and multigenerational families. Wade Financial's tax planning business will be integrated into Modern Wealth's established tax platform, while Neelesh Champaneri, CFA, CAIA, CFP®, will join the firm's investment management team, led by Director of Investments Stephen Tuckwood, CFA®. 'Modern Wealth shares the same commitment to delivering comprehensive, coordinated advice – something that's often missing when professionals operate in silos,' said Rodney Wade, CFP®, AIF®, EA, Wade Financial's founder, who joins Modern Wealth as Managing Director. 'We were intentional about finding a firm that aligned culturally and strategically with our client service philosophy, and we found that in Modern Wealth. Their experienced leadership team, long-term vision and integrated approach to tax and financial planning made it clear this was the right fit for us and, importantly, our clients.' Planned Asset Management, based in Calabasas, California, is an independent advisory firm that provides comprehensive financial planning and investment management services to over 200 households, including individuals, families, small business owners, corporations and charitable trusts across the country. Founded by Morrie W. Reiff, CFP®, and now managing over $350 million in assets, the 40-year-old firm pursued an acquisition to Modern Wealth to facilitate its leadership succession plan to Reiff's daughter, Jamie Reiff. 'Over the past decade, our firm has experienced significant growth, and joining Modern Wealth gives us the ability to accelerate that momentum and expand our capacity to serve more clients,' said Jamie Reiff, who joins Modern Wealth as Managing Director. 'With access to a dedicated back-office and operational support, we're able to deliver an even higher level of service and meet the financial needs of more families across the country. Modern will also empower me to regain valuable time to focus on what I enjoy most, which is serving my clients.' By joining Modern Wealth, Wade Financial and Planned Asset Management will gain access to an even more robust wealth management platform that enhances their ability to serve clients with integrated offerings such as financial planning, tax planning and preparation, estate planning, investment management and more. In addition, both firms can supplement their expansion plans with the help of Modern Wealth's 'Organic Growth Hub,' which provides comprehensive strategies for lead generation, distribution and client onboarding, as well as business support resources across marketing, technology, compliance, human resources and operations. 'These acquisitions represent a meaningful step forward on multiple fronts as Modern Wealth expands its footprint, adds top-tier talent and deepens its service offerings,' said Jason Gordo, Co-Founder and President of Modern Wealth. 'These exceptional firms allow us to establish our first client-facing offices in California and mark the next phase of our national expansion. Wade Financial will bolster our tax and investment management capabilities, while Planned Asset Management gains the operational, technological and administrative support needed to scale their client service.' Following these acquisitions, Wade Financial and Planned Asset Management will onboard their respective teams of 13 and seven financial professionals and fully adopt the Modern Wealth brand. Derek Bruton of Gladstone Associates, LLC advised on the transaction involving Planned Asset Management. For more information about Modern Wealth and its comprehensive wealth management services, please visit About Modern Wealth Management Modern Wealth Management is a registered investment adviser (RIA) reimagining the delivery of financial advice. Co-Founded by former United Capital executives Gary Roth, Mike Capelle and Jason Gordo, Modern Wealth was designed to anticipate the needs of Americans at every stage in life by providing a full suite of wealth management services carried out by a team of experts specializing in financial planning, tax planning and preparation, personal banking, estate planning and more. Strategically acquiring high-growth RIAs across the country, Modern Wealth plans to establish regional offices in key locations spanning the United States. To learn more about Modern Wealth's next generation platform and advice delivery model, please email [email protected] or visit Registration with the U.S. Securities and Exchange Commission does not imply a certain level of skill or training. Past performance is not necessarily indicative of future results. StreetCred PR [email protected] Ruben 214-773-7114 SOURCE: Modern Wealth Management Copyright Business Wire 2025. PUB: 04/08/2025 09:08 AM/DISC: 04/08/2025 09:08 AM
