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NISA Investment Advisors Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Headquartered in St. Louis, NISA Investment Advisors is a fee-only firm. The financial advisor primarily offers investment advisory services to pooled investment vehicles and businesses, but it also serves various other institutional clients.

This firm does not offer services for individual investors. If you’re looking for a firm that does, SmartAsset’s free financial advisor matching service can help you find the best option.

NISA Investment Advisors Background

NISA was founded in 1994 by Jess Yawitz and Bill Marshall. Its CEO is David G. Eichhorn. The firm is a subsidiary of NISA, LLC, and it is 100% employee-owned.

NISA manages assets on a fully or partially discretionary basis, and it specializes in the following investment sectors: domestic high-grade fixed income, domestic publicly traded equity, international high-grade fixed income, international publicly traded equity. It also focuses on synthetic exposure to domestic and international equity, fixed income, currency and commodity markets.

NISA offers services for completion and custom credit mandates, asset and liability management, rebalancing policy and stable value wrap selection and administration.  

NISA Investment Advisors Client Types and Minimum Account Sizes

As mentioned earlier, NISA only provides advisory services to institutional clients. These include pension and profit sharing plans, nuclear decommissioning trusts, state and government entities, insurance companies, charitable organizations and endowments, corporations, nonprofits, investment vehicles, financial institutions and other financial advisors. 

NISA doesn’t require a minimum account size. 

Services Offered by NISA Investment Advisors

NISA offers the following services, strategies and solutions:

  • Portfolio management
  • Asset/liability management
  • Rebalancing policy
  • Stable value wrap selection/administration
  • Asset classes
    • Long duration bonds
    • Short and core duration bonds
    • Derivatives
    • Equity assets
  • Strategies and solutions
    • Risk-controlled fixed income
    • Pension risk management
    • Derivative overlay
    • Defined contribution
    • Tax sensitive portfolio management

NISA Investment Advisors Investment Philosophy

NISA touts on its website that it strives to maintain client asset growth through large, liability-aware and risk-controlled portfolios. The firm says it also welcomes discussions with clients so that it can expand its investment approach to new markets and investment products.

The firm employs a range of strategies in its investment process, including yield curve positioning, sector selection, security selection and trading strategies. 

Fees Under NISA Investment Advisors

Fees for portfolio management are generally based on the market value of a client’s account. But fees for synthetic exposure and other portfolios are based on different measures which serve to compensate NISA advisors. Fees are negotiable, and the firm usually requires a minimum quarterly or annual fee. 

NISA Investment Advisors Fee Schedule
Portfolio Amount of Assets Annual Management Fee
Fixed-Income - U.S. Government First $500,000,000 0.10%
Fixed-Income - Credit  First $100,000,000 0.225%
Fixed-Income - Aggregate Index  First $500,000,000 0.15%
Completion - Treasury Beta First $500,000,000 0.125%
Completion - Active Credit First $100,000,000 0.225%
Custom Credit  First $100,000,000 0.225%
Synthetic Exposure  First $500,000,000 0.06%
Equity First $100,000,000 0.20%

The firm may also charge performance-based fees, and clients will incur expenses for any additional investment management or ancillary services provided by Nisa. The fee on the balance afterward is negotiable.

What to Watch Out For

NISA Investment Advisors doesn’t have any disclosures on its legal and regulatory record.

This firm mainly charges asset-based fees for portfolio management, but it also charges performance-based fees. This may create an opportunity for advisors to favor performance-based accounts over asset-based accounts because higher portfolio returns would increase advisor compensation. Though the firm has a fiduciary duty to clients, it’s still useful to consider this.

Opening an Account With NISA Investment Advisors

The firm does not offer advisory services for individual clients. If you work with or know of an institution that may be interested in NISA's services, the firm offers a contact page and an office number.

All information is accurate as of the writing of this article.

Tips for Investing

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  • Portfolio diversification and asset allocation are both important strategies when it comes to investing. But whether you’re a new or experienced investor, it’s useful to have a holistic view of your finances before purchasing securities. Our investment calculator can give you a better idea of how much money your investments could generate over time.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research