United States Investment Performance Committee
The United States Investment Performance Committee (USIPC) serves as the official local sponsoring organization (country sponsor) for the Global Investment Performance Standards (GIPS) in the United States. The purpose of the USIPC is to promote the adoption and implementation of the GIPS standards throughout the United States as the common method for calculating and presenting investment performance.
In collaboration with the staff of the Investment Performance Policy Group, we:
- Provide input from US on global issues and proposals related to the GIPS standards
- Develop research papers and guidance on performance-related issues
Country-specific guidance on taxation issues has been removed from the GIPS standards. Learn more about after-tax performance calculation and presentation in the United States.
Publications developed by the USIPC include:
- Best Practices for Creating and Maintaining Policies and Procedures for Complying with the GIPS standards (PDF), which will assist firms with establishing and maintaining policies and procedures for claiming compliance with the GIPS standards.
- Performance Advertising — Reconciling the GIPS Standards with the Investment Advisers Act of 1940 (PDF), which addresses key differences between the GIPS standards and the requirements that the investment advisers registered with the U.S. Securities and Exchange Commission (SEC) pursuant to the Investment Advisers Act of 1940 are expected to follow.
- Internal Education Paper (PDF), which will enable firms to create custom sessions for conducting internal education within their organizations.
Committee members serve a one-year term, renewable for six consecutive years.
Principal, Guardian Performance Solutions LLC and Member, United States Investment Performance Committee
Amy Jones, CIPM, is a principal at Guardian Performance Solutions LLC. She has worked with the Global Investment Performance Standards (GIPS) for the past 15 years and has extensive experience interpreting and applying the Standards to almost any situation. Ms. Jones has consulted with advisers of varying size and complexity, and she works with advisory firms to achieve and maintain ongoing compliance with the GIPS standards and review performance advertisements. She has worked extensively with advisers to create policy and procedure manuals compliant with SEC Rule 206(4)‐7, drafted Form ADV disclosures, and conducted compliance reviews and audits for firms across the United States. Previously, Ms. Jones was a manager at an accounting firm specializing in GIPS verification services, where she conducted and oversaw hundreds of GIPS verification projects for advisory firms. She is a member of the GIPS Standards United States Investment Performance Committee, the official local sponsoring organization for the GIPS standards in the United States. Ms. Jones is a member of the National Society of Compliance Professionals and an author on topics related to performance advertising compliance and performance measurement. She graduated from Southern Oregon University with a BS in business administration and an emphasis in accounting.
Senior Vice President, Lazard Asset Management
Jed Schneider, CIPM, is senior vice president at Lazard Asset Management, where he is responsible for GIPS® compliance and performance reporting. He has over 25 years of experience in the performance measurement industry and in investment operations. Previously, Mr. Schneider was head of performance reporting for J.P. Morgan’s US Private Bank division. He has also served as a senior verifier at the Spaulding Group, where he conducted verifications and performance attestations. In addition, Mr. Schneider managed performance measurement teams at Morgan Stanley and U.S. Trust and was a statistician for Consumer Reports magazine, where he was responsible for data analysis on all product testing. He chairs the Performance and Risk Committee at CFA Society New York and is an active volunteer supporting the GIPS standards and the CIPM® Program. Mr. Schneider holds the FRM (Financial Risk Manager) designation. He earned a BS in applied mathematics from Stony Brook University and an MS in statistics from Baruch College.
Founder and CEO, The Spaulding Group, Inc. and Incoming Member, USIPC
David D. Spaulding, CIPM, is the founder and CEO of The Spaulding Group, Inc. He has more than 40 years of experience in management and technology, including more than 30 years in the financial sector. Dr. Spaulding has conducted training classes for clients, CFA Institute, and CFA Societies. He has authored four books, been co-author or editor of five more, and written numerous articles for various industry publications. Dr. Spaulding has served on a variety of industry committees and working groups. He earned a BA in mathematics from Temple University, an MS in systems management from the University of Southern California, an MBA in finance from the University of Baltimore, and a doctorate in finance and international economics from Pace University.
Director of Performance, Mellon
James O’Leary is the director of performance at Mellon. Previously, he served as the director of performance at BNY Mellon Asset Management Operations and as a GIPS/performance analyst at Evergreen Investment Management Company. Mr. O’Leary is a volunteer for CFA Institute. He has served on the United States Investment Performance Committee (USIPC), which is the local country sponsor for the Global Investment Performance Standards in the United States. Mr. O’Leary served as the chair of the committee for the 2018–19 term. He received a bachelor’s degree in operations management from Bridgewater State University.