History
PRP was founded by two actuaries with over 35 years of experience (there are no longer two actuaries conducting business on behalf of the firm). As actuaries our roles include assisting companies in the design and implementation of corporate retirement plans. Our experiences include working with family businesses, fortune 100 companies, investment banking, and company development. Our strong professional and personal ties to various professional organizations including accounting, legal, banking, and investment have allowed us to develop a strong business foundation which enables us to serve our clients from a business point of view.

As actuaries, we are responsible for determining pension plan liabilities, which are reflected in the company financial statements. A key component in determining pension liabilities is the assumed rate of return of the trust fund. Thus it is necessary to review the composition of the trust fund portfolio in order to choose an appropriate assumption for the rate of investment return.

During the last 10 years, we observed that the vast majority of the pension plans we served had poorly constructed portfolios with high volatility and below average market returns. In addition, most of the trustees did not possess an investment policy statement, which would outline an investment strategy and provide a means to evaluate the performance of the portfolio and the money managers that served them.

At the enrolled actuaries meeting in 1999, a certified financial analyst "CFA" asked 2000 actuaries how many of their clients hired money managers to invest the pension trust assets. The majority raised their hands. The CFA then made a bold statement. He said our clients were wasting their time and money! He basically said that markets are efficient and our clients would be better off if they fired their money managers and put all of their money in index mutual funds. Although we did not understand it at the time, what he was referring to was Modern Portfolio Theory.

Modern Portfolio Theory is so compelling that we wanted to make all of our clients aware of it. However, doing that as actuaries would not be professionally appropriate; thus the firm became a registered investment advisor. Through an affiliation with Dimensional Fund Advisors, we are able to provide our clients access to the mutual funds that we believe are the best building blocks to meet our objective of implementing Modern Portfolio Theory.