Welcome Mowery & Schoenfeld Advisors!

The professional team at Mowery & Schoenfeld have partnered with 3EDGE Asset Management to deliver active, tactical investment solutions tailored for today's market environment. 

3EDGE is a Global Multi-Asset Investment Manager with an experienced investment team, serving Institutional Investors, HNWs, Single and Multi-Family Offices, and RIAs.

Approximately $1.7 Billion in combined AUM and AUA^

• Investment solutions driven by the firm’s proprietary  global capital markets model

Portfolio construction using ETFs (Exchange Traded Funds)

A range of globally diversified portfolios across asset classes and geographies

Full Suite of 3EDGE Investment Solutions

3EDGE Firm Facts & Proprietary Model

3EDGE Proprietary Model

Traditional quantitative analysis and black box approaches are almost entirely data-driven or inductive in nature. We believe using only this approach can be fraught with risks.

Our approach is both deductive and inductive, a result of over four decades of studying global capital markets across many cycles.

  • DeductiveFirst, we arrive at the essential theories that explain the cause-and-effect relationships that drive the global capital markets.
  • Inductive: We then test these theories through robust quantitative modeling with data going back over 150 years.

The 3EDGE model is only one part of the equation – output from our model research serves as our navigation system, informing our dynamic portfolio allocation decisions.

This blend of human experience from industry professionals and machine learning from our ever-evolving model steers us toward investment solutions that minimize portfolio drawdowns and generate consistent return potential. We aim to smooth the ride for investors across all of our strategies.

3EDGE Investment Committee

Steve Cucchiaro – Chief Executive Officer, Chief Investment Officer

In his over 35 years of studying the global capital markets and managing investment portfolios, Mr. Cucchiaro has become known for using proprietary investment research methods including the application of concepts from system dynamics, complexity economics, artificial intelligence and multi-player game theory to analyze the global capital markets.  Following a successful career as a management consultant, senior economist and technology entrepreneur, Mr. Cucchiaro founded and served as President & Chief Investment Officer of Windward Investment Management Inc., which was acquired by Charles Schwab in November 2010. At the acquisition, Windhaven Investment Management continued the business of Windward.  From the early days of Windward through June 2014, assets under management under Mr. Cucchiaro’s tenure grew from less than $75 million to nearly $20 billion.  After more than three years of working towards a successful transition following the acquisition, Mr. Cucchiaro left Windhaven in June 2014.

Mr. Cucchiaro has appeared on Bloomberg TV and Radio, CNBC, Consuelo Mack’s Wealth Track and the Nightly Business Report, and has been quoted in The Wall Street Journal, Barron’s, The Financial Times, Forbes and BusinessWeek.

Mr. Cucchiaro earned an SB in Mathematics from M.I.T and an MBA in Finance from the Wharton School at the University of Pennsylvania. During the late 1970s, Mr. Cucchiaro was a member of the U.S. Olympic Team in yacht racing, was the national champion of his class in 1978, and was a Gold Medalist in the 1979 Pan American Olympic Games.  He serves on the Board of Directors of the Institute for Health Metrics and Evaluation (IHME) and is a member of the M.I.T. Sloan Finance Group Advisory Board.

Monica Chandra – President

Ms. Chandra has more than 25 years of senior management experience, spanning innovative startups and large financial services firms. She was most recently the President and Co-founder of TurnRight Advice Solutions, providing an online mentoring platform to professional organizations and educational institutions. She has also held senior roles at Fidelity Investments within the firm’s retirement services and personal investing businesses, including Executive Vice President of Defined Contribution Product Development and Senior Vice President for Human Resources Strategy and Planning. Prior to Fidelity Investments, she helped co-found Harbor Software, a visual database tools company, and What-if-I Financial, a provider of online advice-based investing.

Ms. Chandra holds a Bachelor of Science in Chemistry from the University of Mumbai and a Master in Business Administration from Boston College. She serves on the Board of Trustees of Dana-Farber Cancer Institute, Inc. and on the Board of Trustees of the Museum of Fine Arts. She is a founding member of the Council for Women of Boston College and a recipient of the 2007 Distinguished Alumni Achievement Award from Boston College’s Carroll School of Management. She is also active with the Boston chapter of TiE, the largest not-for-profit organization promoting entrepreneurship.

Fritz Folts Chief Investment Strategist

Mr. Folts served with Steve Cucchiaro for over 11 years on the investment committees at both Windward and Windhaven Investment Management, Inc. Most recently, he was the Chief Investment Strategist at Windhaven Investment Management. After the acquisition of Windward by Charles Schwab, Mr. Folts was responsible for the distribution of Windhaven’s investment solutions throughout the entire Charles Schwab nationwide retail branch network. He and his team raised over $15 billion in new assets under management. Prior to joining Windhaven, Mr. Folts was co-founder and served as President of Saugatuck Securities, a registered broker dealer firm which provided investment banking and capital raising services to hedge fund and private equity firms. Mr. Folts began his career at The Boston Company, where he served as Vice President and Director of Global Funding for the then newly formed Boston Safe Deposit & Trust Co., (U.K.) Ltd., in London, England.  

Mr. Folts received his BA with a major in Political Science from Connecticut College and his MBA from IESE (Instituto Estudios Superiores de la Empresa), a bilingual Spanish - English MBA program in Barcelona, Spain. He is the former Chair of the Board of Trustees at Connecticut College and now serves as an Emeritus Trustee. Fritz currently serves on the Investment Committee for the Connecticut College endowment fund. He also serves on the Investment Committee for the Umbrella Center for the Arts in Concord, MA. Mr. Folts also serves on the U.S. Advisory Council for the IESE Business School in Barcelona, Spain.

Fritz and his wife Cathy live in Concord, Massachusetts.

Robert Phillips – Chief Technology Officer

Mr. Phillips is responsible for all of the firm’s investment modeling platforms.  He served along with Mr. Cucchiaro on the investment committee for both Windward Investment Management, Inc. and Windhaven Investment Management, Inc.  Mr. Phillips’ career spans financial services and engineering/enterprise software companies. He was most recently a Co-founder and Chief Technology Officer for TurnRight Advice Solutions. Prior to Windhaven, Bob was a Senior Vice-President at Fidelity Investments responsible for managing all electronic platforms including redesigning NetBenefits which provides online services for over 13 million benefit plan participants. He has helped start and grow several other entrepreneurial ventures including What-if-I Financial, ICAD and Concentra.  

Mr. Phillips holds several patents and has over 30 years of experience applying AI tools to solving complex problems. He has a BS in Mathematics/Physics from the University of New Hampshire, a M.Eng. In Engineering Physics from the University of Virginia and a Ph.D. in Mechanical Engineering from Pennsylvania State University. Bob is the recipient of the Distinguished Alumnus award from the University of New Hampshire’s College of Engineering and Physical Sciences (CEPS) and is a Director on the UNH Foundation Board.

Lawrence Jules – Head Trader

Lawrence Jules is 3EDGE Asset Management's Vice President, Head Trader and a member of the Investment Committee. Lawrence has over 25 years of hands-on investment management, research, and trading experience, including 20 years of overseeing and implementing large rebalances. His background includes credit-market analysis and collaborating with investment research teams to analyze and develop new ETFs.

Before 3EDGE, he was at Charles Schwab Investment Management for over 13 years, most recently as Director, Head Trader of SMA Products. Previously, he served as a Senior Analyst at the Federal Reserve Bank of Boston. Lawrence has a Master of Arts in Government from Harvard University, an MBA with Honors from Solvay Business School, University of Brussels, and a Bachelor's degree in Economics from Boston University. Actively engaged in philanthropic efforts, Lawrence is a member of the Finance Committee for Boston Foundation's Haiti Development Institute, focusing on Haiti's rural sector.


Eric Biegeleisen – Deputy Chief Investment Officer

Mr. Biegeleisen is a member of the investment committee. He served with Steve Cucchiaro on the investment committees for both Windward and Windhaven Investment Management, Inc. His research effort is focused on discovering and exploring the interconnectedness of the global capital markets through quantitative and qualitative analyses, including utilizing machine learning algorithms. He is experienced in investment modeling, implementing efficient trading practices and has significant ETF industry experience. Prior to joining 3EDGE, Mr. Biegeleisen was the Director of Quantitative Research and Portfolio Manager at Beaumont Capital Management. He was the Chief Investment Officer and Portfolio Manager of Broadmeadow Capital, LLC an investment firm which he co-founded in 2014. Prior to this, he worked for Windhaven Investment Management as a Senior Investment Analyst and then Director of Research, leading the firm’s quantitative modeling, product due diligence and portfolio structuring. Before joining the investment industry, Mr. Biegeleisen was an engineer for General Dynamics and Textron, working to develop next-generation communications and defense solutions. 

Mr. Biegeleisen has a BS in electrical engineering from Trinity College in Hartford, CT, an MS in electrical engineering from the University of Southern California, and an MBA from Boston University’s Questrom School of Business. He became a CFA® charterholder in 2011 and is an active member of the CFA Society Boston.

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If you are interested in learning more, please reach out to our Relationship Manager, Peter McManus.

pbm@3edgeam.com    |    (617) 406-7855

We welcome your questions on how 3EDGE can meet your investment needs.


DISCLOSURES: Investors should only seek investment advice from their individual financial adviser. Information provided on this page includes information from sources 3EDGE believes to be reliable, but the accuracy of such information cannot be guaranteed. Investments including common stocks, fixed income, commodities, ETNs and ETFs involve the risk of loss that investors should be prepared to bear. Past performance is not indicative of future results. Performance for the 3EDGE Strategies featured is for the respective composites and is shown net of an 0.80% annual management fee and all other expenses and includes reinvestment of dividends and other earnings.

^Assets Under Advisement (AUA) includes non-discretionary assets managed by other registered investment advisers using 3EDGE's model portfolios. AUA numbers do not include certain model portfolio assets with significant lag in data reporting.

BENCHMARKS: 3EDGE Asset Management’s investment objective is to seek to earn attractive risk-adjusted returns over full market cycles. We do not actively seek to outperform any specific benchmark index on a relative basis for the Strategies (“the Strategies”). The Strategies are not index funds and the portfolio holdings, country exposure, portfolio characteristics and performance will differ from that of the Benchmarks. The Benchmarks are simply a baseline against which we monitor the Strategies. They are intended to represent a passive, global, multi-asset class portfolio with similar risk characteristics to the Strategies. The Benchmarks have not been selected as a specific benchmark to compare to the performance of the respective Strategy but have been provided to allow for comparison of the performance of the Strategy to that of well-known and widely recognized indices. The Indices used in the Benchmarks are represented by total return prices. Indexes are unmanaged and therefore do not include fees and expenses typically associated with investments in managed accounts. One cannot invest directly in an index. Benchmark Data Source: Bloomberg, HFRI.

RISK MEASURES:

1. Annualized Net Return since inception is based on a period of 12 months using monthly returns; 2. Standard Deviation measures the degree of variation of investment returns around the mean (or average) return and is calculated as the square root of the variance; 3. Maximum Drawdown is a measure of risk that captures the worst cumulative peak-to-trough decline of an investment or portfolio from any month- end data point to any other month-end data point. It shows in percentage terms how much money an investment portfolio would have lost before returning to its breakeven point; 4. Beta is a measure of the volatility of the portfolio in comparison to the market as a whole. Calculated as realized values vs. S&P 500 TR.