Ivory Day is Managing Partner at Ivory Day Clear Investment Consulting based in the Chicago area. He started his career close to 50 years ago and has held a long succession of investment consulting roles, during which he advised public, Taft-Hartley, corporate, endowment and foundation plans. He is a frequent participant on the industry conference circuit where he discusses his views on asset allocation and the active v. passive divide.

Our conversation covers his early career, when he juggled three jobs, including one as a cab driver, and how he learned the ropes of investment consulting. We spend some time on his long held investment beliefs, the use of passive v. active managers, and the importance of asset allocation v. manager selection. Ivory is not afraid to speak truth to power, and to tell clients what they need to know, not simply what they want to hear.