How To Choose An Advisor For Your Board Fund Or Endowment: Simplifying the Selection Process
Most nonprofit boards aren’t making investment decisions alone anymore.
85%+ of institutional investors now work with an advisor or consultant, and over 70% rely on them to help select investment managers.
That shift makes sense. Oversight still belongs to your board. Execution now requires deeper investment skill, tighter governance, and a repeatable process your committee can trust.
Why Nonprofit Boards Are Re-evaluating Advisor Selection
Today’s investment environment needs a lot from nonprofit fiduciaries.
Markets move quickly. Portfolios include broader investment options. Stakeholders expect better governance and transparency. Board decisions can involve several perspectives, varied financial backgrounds, and limited time.
Working with an advisor doesn’t mean you have to let go of the reins completely. They can help give your board a better process for decisions that influence your mission over the long term.
Done well, working with the right advisor can:
Make better-informed investment decisions
Avoid unnecessary risk and missed opportunities
Create a structured, repeatable selection process
Build board confidence and alignment
Keep committee time centered on mission, not market distractions
What’s Inside the Guide
This complimentary resource walks your board through a practical advisor selection process, including how to:
Clarify your board’s role in oversight
Align on investment goals before outreach
Define the advisory services you need
Compare fee models, service models, and investment approaches
Build a realistic 3–6 month search timeline
Run an RFI or RFP process
Evaluate finalists without defaulting to groupthink
Move from selection to onboarding
The biggest mistake we see is boards evaluating advisors before they’ve agreed internally on goals, priorities, and success criteria.
This guide helps your board slow down the right parts, move the process forward, and choose with confidence.
Download your complimentary copy by filling out the form below:
