About CLS Investments

CLS’s Guiding Principle: To be a trusted partner with financial advisors and to deliver innovative investment solutions and reliable portfolio management to investors.

Our Roots

In 1972, W. Patrick Clarke began his career as a stockbroker at a time when others were struggling to survive in that profession. In 1975, he left that post to focus on working with individual investors to develop highly customized financial plans and investment management options. When other financial planners began expressing a need for this type of individualized approach, he began to partner with them as a third party asset manager. In 1989, Mr. Clarke was the majority partner in creating the independent asset allocation firm Clarke Lanzen Skalla Investment Firm, LLC. The company was founded on lessons Mr. Clarke learned as both a financial advisor and an individual investor. Under Mr. Clarke’s direction, that company would eventually become CLS Investments.

Our People

Shauna Applegarth

Inside Sales Assistant

Jesse Bargstadt

Internal Wholesaler

Dawn Batho

Director of Inside Sales

Dawn Batho

Director of Inside Sales
Office:(402) 896-7240
dawn.batho@clsinvest.com

Dawn Batho’s career with CLS began in 2004 as an Internal Wholesaler. Today, she serves as Director of Inside Sales for Orion Advisor Solutions, leading a team of sales internals who support the company’s external sales team and cultivate relationships with prospects and existing clients.

Ms. Batho has also taken on the position of Relationship Internal in which she supports advisors who have used our platform for more than two years. In this role, Ms. Batho serves as an internal partner for advisors by specializing in proposal creation, strategist guidance, and office staff training.

Previously, Ms. Batho worked for Mutual of Omaha in their variable annuities department. She graduated from the University of South Dakota with a Bachelor of Science degree in Business Management, emphasizing in human resources. She currently holds her FINRA Series 65 securities license.

Ms. Batho’s favorite part about working at CLS is talking to people and forming relationships. Learn more about her on the CLS blog.

Cale Beyer

Internal Wholesaler/Relationship Internal

Bruce Bischoff

Vice President of Internal Sales

Bruce Bischoff

Vice President of Internal Sales
Office:(402) 896-7037
bruce.bischoff@clsinvest.com

Bruce Bischoff has been with CLS since 2012. He is a crucial part of CLS’s leadership structure, serving as Vice President of Internal Sales. In his role, Mr. Bischoff manages and advocates for CLS’s internal and external sales teams. In addition to his executive position, Mr. Bischoff is responsible for partnering with financial advisors throughout the central region of the United States.

Mr. Bischoff holds a Bachelor of Arts in Marketing from Utah State University, with a minor focus in Japanese language. He currently holds the Series 65 securities registration. Prior to joining CLS, Mr. Bischoff worked in pharmaceutical and medical device sales and sales management.

Mr. Bischoff enjoys hunting, scuba diving, and spending time with his wife and four children.

Learn more about Bruce on our blog.

Myles Bozinovski

Regional Vice President of Sales

Myles Bozinovski

Regional Vice President of Sales
Office:(310) 947-0715
myles.bozinovski@clsinvest.com

Myles Bozinovski joined CLS in December of 2014 as Regional Vice President of Sales, covering various states in the western part of the United States.

Prior to joining CLS, Mr. Bozinovski held numerous sales leadership positions within the financial services industry. Mr. Bozinovski started his career as a financial advisor with Morgan Stanley. He then spent nine years working with TCW Funds, where he held Internal Sales Representative, Internal Sales Manager, and External Wholesaler positions. In sum, he brings over 15 years of experience to CLS.

Mr. Bozinovski currently holds FINRA Series 7, 63, and 65 securities registrations. He earned a Bachelor of Science degree from the University of California, Los Angeles, where he was a member of the Water Polo Team. Mr. Bozinovski has spent many years as a lifeguard and enjoys spending time with his wife and three children.

Patty Colombe

Administrative Coordinator

Patty Colombe

Administrative Coordinator
Office:(402) 896-7051
patty.colombe@clsinvest.com

Patty Colombe supports and coordinates a variety of projects at CLS, primarily including those associated with the activities of CLS’s executive and investment teams. For the investment team, Ms. Colombe is instrumental in coordinating and assisting with a variety of analytical and communication projects. Ms. Colombe joined CLS in 2015. She brings 20 years of experience in a variety of roles, such as Site Service Manager and IT Project Coordinator for a company with 13 locations and over 700 users.

Learn more about Patty on our blog.

Case Eichenberger, CIMA

Senior Client Portfolio Manager

Case Eichenberger, CIMA

Senior Client Portfolio Manager
Office:(402) 896-7004
case.eichenberger@clsinvest.com

Case Eichenberger co-manages CLS’s American Funds strategies and the CLS Shelter Fund, works closely with CLS’s separate account strategies (Master Manager), and communicates with advisors and their clients both remotely and in-person.

Since joining CLS in 2007, Mr. Eichenberger has held various roles, including Relationship Representative and Internal Wholesaler. In 2015, he accepted the role of Client Portfolio Manager and was promoted to Senior Client Portfolio Manager in 2018.

Mr. Eichenberger received his Bachelor of Science degree in Business Administration from Midland University. He holds the FINRA Series 6, 63, and 65 licenses and Certified Investment Management Analyst (CIMA®) designation. During the accreditation process, he attended the Wharton School of Business at the University of Pennsylvania.

Mr. Eichenberger is a member of Greater Omaha Young Professionals and a volunteer for Habitat for Humanity.

Did you know? Case comes from a long line of educators.

Grant Engelbart, CFA, CAIA

Director of Research & Senior Portfolio Manager

Grant Engelbart, CFA, CAIA

Director of Research & Senior Portfolio Manager
Office:(402) 896-7163
grant.engelbart@clsinvest.com

Grant Engelbart manages CLS’s aggressive mutual funds and several ETF and mutual fund separate account strategies, including CLS’s American Funds portfolios. He also leads the alternative broad asset class team and serves on several committees across CLS’s parent company, NorthStar Financial Services Group, LLC.

Mr. Engelbart first joined CLS as an intern in 2007. He returned in 2009 and held several roles in trading and investment research prior to accepting the role of Portfolio Manager in 2013. He previously held positions at TD Ameritrade and State Street Corporation.

Mr. Engelbart received his Bachelor of Science degree in Finance from the University of Nebraska at Lincoln. He holds the Chartered Financial Analyst (CFA) designation, Chartered Alternative Investment Analyst (CAIA) designation, and FINRA Series 65 license. He is a member of the CFA Society of Nebraska and the CAIA Chicago Chapter.

Mr. Engelbart was named one of the Top Ten Money Managers to Watch by Money Management Executive in 2018.*

Did you know? Grant invested in his first fund at age 13.

*CLS Investment, LLC (“CLS”) Senior Portfolio Manager & Co-Director of Research, Grant Engelbart, CFA, CAIA, was selected as a “Top 10 Fund Managers to Watch” in 2018 by Money Management Executive. Money Management Executive is an unbiased, third-party publication covering the asset management industry. Money Management Executive chose the list of managers to watch by screening Morningstar data from funds with a single manager, ranked as having the best three-year annualized returns in their respective categories. The list of managers was published March 12, 2018. Money Management Executive is not affiliated with CLS. Ratings and awards may not be representative of any one client’s experience and are not indicative of CLS’s future performance.

Kostya Etus, CFA

Co-Director of Research & Senior Portfolio Manager

Kostya Etus, CFA

Co-Director of Research & Senior Portfolio Manager
Office:(402) 896-7523
kostya.etus@clsinvest.com

Konstantin “Kostya” Etus specializes in international investments. He is a co-manager on two mutual funds (aggressive allocation and international) and manager on various separate account strategies, including Core Plus ETF and ESG. In addition, he manages 529 plans.

Mr. Etus began his career at CLS in 2011 as a Trading Specialist and became a Research/Portfolio Analyst in early 2013. In 2016, he was promoted to Portfolio Manager. Prior to working at CLS, Mr. Etus worked as an Associate Financial Analyst at ConAgra Foods, Inc., managing the company’s global cash network.

He graduated from the University of Nebraska at Omaha with a Bachelor of Science degree in Business Administration and obtained Master of Investment Management and Financial Analysis and Master of Business Administration degrees from Creighton University. He holds the FINRA Series 65 securities registration and the Chartered Financial Analyst (CFA) designation.

Did you know? Kostya grew up in Soviet Russia.

Gene Frerichs

Senior Performance Analyst

Gene Frerichs

Senior Performance Analyst
Office:(402) 896-7190
genef@clsinvest.com

Gene Frerichs specializes in performance measurement, attribution, risk reporting, and composite/Global Investment Performance Standards (GIPS) reporting. Throughout his career at CLS, which began in 1997, Mr. Frerichs has been responsible for helping develop the Portfolio Administrator and Performance Analyst positions.

Mr. Frerichs received his Bachelor of Arts degree in Mathematics from Chadron State College in Nebraska. He currently holds a FINRA Series 65 license and has completed the first level of the CIPM program offered through the CFA Institute.

Did you know? Gene grew up in the Old West town of Ogallala, Nebraska.

Norma Fried

Sales Scheduler

Bryan Gelster

Internal Wholesaler

Steve Grove

Internal Wholesaler

Michael Hadden

Investment Research Analyst

Michael Hadden

Investment Research Analyst
Office:(402) 896-7139
michael.hadden@clsinvest.com

Michael Hadden is involved in all aspects of investment research, including performance reporting and Global Investment Performance Standards (GIPS) reporting.

Prior to joining CLS in 2017, Mr. Hadden held internships with Ameritas and Platte Valley Bank, while pursuing his degree. He graduated with honors and high distinction from the University of Nebraska at Lincoln, with a Bachelor of Science degree in Finance and Accounting. He is currently working toward his Chartered Financial Analyst (CFA) designation.

Did you know? Michael started investing in middle school.

Jackson Lee, CFA

Quantitative Portfolio Manager

Jackson Lee, CFA

Quantitative Portfolio Manager
Office:(402) 896-7460
jackson.lee@clsinvest.com

Jackson Lee specializes in data analytics and is responsible for researching and managing data, including the CLS Edge and Risk Budget scores, used by the Portfolio Management Team. He serves on the Domestic Equity BACE team, which researches and analyzes domestic equity ETFs.

Prior to joining CLS in 2014, Mr. Lee was an Accounting Analyst for CLS’s sister company, Orion. Mr. Lee graduated from Creighton University with a Bachelor of Science degree in Finance. He holds the Chartered Financial Analyst (CFA) designation and the FINRA Series 65 securities license.

Did you know? Jackson was born in Hong Kong.

Aleck Liu

Investment Research Analyst

Aleck Liu

Investment Research Analyst
Office:402-896-7057
Aleck.Liu@clsinvest.com

As a Junior Investment Research Analyst at CLS, Aleck Liu is responsible for investigating new investment opportunities and assisting the Portfolio Management Team.

Mr. Liu joined CLS in 2018 after earning a Bachelor of Arts degree from the University of Chicago, where he graduated with honors. He studied Political Science with a Minor in Statistics.

While earning his degree, Mr. Liu launched 626tea, a start-up “Bubble Tea” company. His business sought to seize an untapped market for the Taiwanese tea-based drink in the Midwest. Mr. Liu also has experience working as a Marketing Specialist for his father’s business.

Marc Pfeffer

Chief Investment Officer

Marc Pfeffer

Chief Investment Officer
Office:(402) 896-7225
marc.pfeffer@clsinvest.com

Marc Pfeffer serves as Chief Investment Officer for CLS Investments. Prior to this role, he was a Portfolio Manager on the CLS Flexible Income Fund team, and managed the CLS Active Income X Strategy and CLS’s ETF strategies. He also managed individual municipal bond portfolios for the CLS Master Manager Strategy and continues to serve as a senior member of the CLS Investment Committee.

Mr. Pfeffer joined CLS in 2011, continuing as Senior Portfolio Manager for the Milestone Treasury Obligations Fund. The Fund was incorporated into CLS’s fund family in January 2012. Mr. Pfeffer has more than 30 years of investment management experience, including time spent as the Chief Investment Officer at Milestone. He also worked previously at Goldman Sachs and Bear Stearns.

Mr. Pfeffer graduated from the State University of New York at Buffalo with a Bachelor of Science degree in finance. He received his Master of Business Administration degree, with a focus on finance, from Fordham University. Mr. Pfeffer holds his FINRA Series 7, 63, and 65 licenses.

Did you know? Marc is also an avid poker player.

Kathleen Poppen

Sales Scheduler

Shana Sissel, CAIA

Senior Portfolio Manager

Shana Sissel, CAIA

Senior Portfolio Manager
Office:402-896-7182
shana.sissel@clsinvest.com

Shana Sissel joined the CLS Portfolio Management Team in 2018. She is responsible for actively supporting the Portfolio Management Team’s efforts within a variety of special projects and investment management strategies, as well as writing and speaking on behalf of CLS.

Ms. Sissel has more than two decades of industry experience at leading investment firms, primarily in Boston and Chicago. Most recently, she was a Client Portfolio Manager at Ariel Investments where she represented Ariel’s Domestic Research Team. Ms. Sissel also brings a vast background in market research and analysis through various roles held at Fidelity Investments’ Strategic Advisor Inc., Mercer Investments, Peak Financial Management, and Russell Investments.

Ms. Sissel earned a Bachelor of Science Degree in Sport Management from the University of Massachusetts at Amherst before receiving her Master of Business Administration Degree from Bentley University’s McCallum School of Business. She also holds the Chartered Alternative Investment Analyst (CAIA) designation.

As a frequent media contributor, Ms. Sissel has appeared on CNBC and other regional news outlets. She has also been quoted extensively in the Wall Street Journal, Smart Money, and Investment News.

The CAIA® is the globally-recognized credential for professionals managing, analyzing, distributing, or regulating alternative investments. To learn more about the CAIA, visit https://caia.org/

1927-CLS-9/21/2018

Jon Trbovich

Senior Regional Vice President of Sales

Jon Trbovich

Senior Regional Vice President of Sales
Office:(303) 956-8147
jont@clsinvest.com

Jon Trbovich joined CLS as a Regional Vice President in 2003. His territory covers the states of Tennessee, Mississippi, Alabama, Georgia, South Carolina, Florida, and Puerto Rico.

Mr. Trbovich has a strong statistical and technical background, and his expertise complements company service areas including exchange traded funds. His previous experience includes service and analyst positions at Merrill Lynch, service and trading positions at Schwab Institutional, and Regional Vice President at Shields Management Company.

Mr. Trbovich received a Bachelor of Science degree in Mathematics with a concentration in Actuarial Science and a minor in Statistics from Colorado State University. He currently holds FINRA Series 6, 7, 63, and Series 65 securities registrations.

Rusty Vanneman, CFA, CMT

Orion Chief Investment Officer (CIO)

Rusty Vanneman, CFA, CMT

Orion Chief Investment Officer (CIO)
Office:(402) 896-7641
rusty.vanneman@clsinvest.com

Rusty Vanneman serves as Chief Investment Officer for Orion Advisor Solutions. In his role, he is responsible for leading CLS’s Portfolio Management Team and overseeing all investment operations at CLS, including investment philosophy, process, positioning, and performance. Mr. Vanneman is also responsible for internal and external communications regarding market environment and current investment strategies. He is part of the management team for several of CLS’s proprietary mutual funds. In 2018, Mr. Vanneman took on the role of President of CLS, in addition to his position as CIO.

Mr. Vanneman joined CLS in September 2012 as Chief Investment Officer. Previously, he served as Chief Investment Officer and Portfolio Manager at Kobren Insight Management (KIM) in the greater Boston area. His 11-year tenure at KIM included a 5-year span during which the firm was owned by E*TRADE Financial and he served as the Senior Market Strategist for E*TRADE Capital. Prior to working at KIM, he was a Senior Analyst at Fidelity Management and Research (FMR Co) in Boston. He was also a Managing Analyst at Thomson Financial.

Mr. Vanneman received a Bachelor of Science degree in Management from Babson College where he graduated with high distinction. He has held the Chartered Financial Analyst (CFA) designation since 1994, and is a member of the CFA Institute. He has also been a Chartered Market Technician (CMT) since 1999, and is a member of the Market Technician’s Association (MTA). In addition, Mr. Vanneman authored the book “Higher Calling: A Guide to Helping Investors Achieve Their Goals.” He was named one of the Top 10 Portfolio Managers to Watch by Money Management Executive in 2017.*

Did you know? Rusty had brief stint as a cowboy near the town of Valentine in Cherry County, Nebraska.

*CLS Investments, LLC (“CLS”) Chief Investment Officer, Rusty Vanneman, CFA, CMT, was selected as a “Top 10 Fund Managers to Watch” in 2017 by Money Management Executive. Money Management Executive is an unbiased, third-party publication covering the asset management industry. Money Management Executive chose the list of managers to watch by screening Morningstar data from funds with a single manager, ranked as having the best three-year annualized returns in their respective categories. The list of managers was published March 27, 2017. Money Management Executive is not affiliated with CLS. Ratings and awards may not be representative of any one client’s experience and are not indicative of CLS’s future performance.

John Welch

John Welch

Office:

John Welch joined CLS in 2012 as Regional Vice President of Sales for the northeast territory of the United States. In his role at CLS, he is committed to partnering with advisors, as well as assisting them in growing their businesses and forging lifelong relationships with clients.

A Business Management major from the University of Maine, Mr. Welch has passed the FINRA series 6, 63, and 65 securities exams. He also received the Certified Investment Management Analyst designation from Wharton Business School in 2009.

Mr. Welch has over 18 years of experience within the financial services industry. Prior to joining CLS, he worked as an Institutional Wholesaler for MFS Investment Management in the Mid-atlantic area.

Learn more about John on our blog.

Andie Wilkinson

Internal Wholesaler

Jeovany Zelaya

Client Portfolio Manager

Jeovany Zelaya

Client Portfolio Manager
Office:(402) 896-7226
jeovany.zelaya@clsinvest.com

Jeovany Zelaya is a Client Portfolio Manager at CLS Investments. He is responsible for communicating CLS’s investment philosophy, process, strategies, and performance to external clients and prospects.

Prior to beginning his current role, Mr. Zelaya served as an Internal Wholesaler of Qualified Plans starting in 2016. His background in sales gives him an edge in providing ongoing updates, analysis, and support to CLS’s Sales Team.

Mr. Zelaya holds a Master of Business Administration degree from the University of Nebraska at Omaha. He received his Bachelor of Business Administration degree from the University of Houston and is currently pursuing a Bachelor of Science in Accounting degree from Auburn University. Mr. Zelaya holds his FINRA Series 65 license and is currently a Level III candidate in the Chartered Financial Analyst (CFA) Program.

Did you know? Jeovany grew up in El Salvador.