Guiding endowments and foundations forward

It's more important than ever to choose the right advisors to help guide your foundation or endowment. We are experienced practitioners who have a deep understanding of the nonprofit world and the challenges it faces today. Organized as a boutique with access to the diverse philanthropic and institutional resources of UBS, we can help identify investment strategies designed to minimize risk while maintaining a keen awareness of your organization's vision and mission.

Institutional consulting

Achieving your organization’s mission is your priority. We’re here to help you maximize the rewards and minimize the challenges. We look at each aspect of your organization and will work with you on reviewing everything from your philanthropic mission and decision-making process to your investment philosophy and financial goals.

Sophisticated portfolio management

No matter how complex your investing needs, we have the experience and the expertise to guide you toward solutions that are aligned with your goals. Using sophisticated analysis to identify investment opportunities, we can help you build an investment portfolio that is precisely tailored to your unique goals and appetite for risk.

Our firm’s open architecture approach allows us to select the best solutions for you from within UBS or externally from a wide range of providers, including:

Traditional investments
Separately managed accounts
Alternative investments
Direct investments
Structured products

Our mission is to help advance yours

Aligning your investments and purpose

Sustainable investing has the potential to create better outcomes, not only for your portfolio, but also for the planet. We can help you incorporate sustainable investing into your overall wealth plan, whether you are looking to:

Invest in strategies with a clear sustainability objective, such as companies managing environmental, social and governance (ESG) considerations
Invest in strategies that seek to generate measurable, verifiable and positive environmental or social outcomes
Build a portfolio that is tailored to your sustainability preferences, such as climate change or diversity, equity and inclusion

A trusted partner

As a fiduciary, we are aligned with you on your mission and goals and can act as an “outsourced chief investment office” to become an extension of your team. From assisting with your Investment Policy Statement to employing world class analytics to measure and manage risk, we use our experience and extensive platform to execute with speed and efficiency. Building and managing bespoke portfolios tailored to your specific needs, we do so in a cost effective manner and in complete partnership with you.

Unlike traditional investment consultants which offer advice and manager selection for board and staff implementation, we are experienced practitioners who partner with our clients to craft investment strategy and implement it in real time. Investment markets are dynamic; we help non-profit organizations, foundations, and endowments be as well.

Our services

We offer:

Assistance developing or refining your Investment Policy Statement.
Strategic Asset Allocation studies
Investment manager searches and oversight
Investment performance reporting
Board and investment committee education
Complementary custody and trade execution (if assets are held at UBS).

Group leadership

Eric Gioia

Managing Director–Wealth Management

Financial Advisor
View bio Industry recognition
- AK
- AL
- AR
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- GA
- HI
- IA
- ID
- IL
- IN
- KS
- KY
- LA
- MA
- MD
- ME
- MI
- MN
- MO
- MS
- MT
- NC
- ND
- NE
- NH
- NJ
- NM
- NV
- NY
- OH
- OK
- OR
- PA
- PR
- RI
- SC
- SD
- TN
- TX
- UT
- VA
- VI
- VT
- WA
- WI
- WV
- WY
Eric joined UBS as a Managing Director – Wealth Management, having most recently served as a Managing Director and Senior Banker at J.P. Morgan Chase. At UBS, Eric will continue to advise CEOs, founders, and ultra high net worth families and organizations in New York, just as he has since 2010. Eric and his team are responsible for all aspects of the client relationship, including strategic advice, investments, banking, risk management and succession planning strategies.

Before becoming an important member of the NYC business community, Eric was elected to serve in the New York City Council, representing Queens from 2002-2009. As a Councilman, he chaired the Committee on Oversight & Investigations, conducting more than 50 inquiries that helped the passage of important laws and increasing government accountability. Prior to his service as a Councilman, Eric served in the White House as a law clerk to the Deputy White House Counsel and practiced law at Milbank, Tweed, Hadley & McCloy.

Apart from UBS, Eric is an adjunct professor at the NYU College of Arts and Sciences and CUNY’s Macauley Honors College. For ten years, he has taught seminars on public policy and the future of New York. He previously served on the boards of MoMA PSI, the Museum of the Moving Image and Chess in the Schools. Now, he serves as a trustee of the Marymount School of NY and on the board of the Queens Library Foundation.

Eric is a graduate of NYU and Georgetown University Law Center. He lives with his wife, Lisa Hernandez Gioia, and their four children in New York City. Eric is an avid marathoner and has embarked on a quest to run a marathon on all seven continents.
- Forbes Best-in-State Wealth Management Teams, 2023, 2024The Forbes rating is compiled by Shook Research and awarded annually in January, based on information from a 12 month period ending March of the prior year.
1285 Avenue Of The Americas
New York, NY 10019
Allen Zaring

Managing Director–Wealth Management

Financial Advisor
View bio
- AZ
- CA
- CT
- DE
- FL
- HI
- IL
- IN
- KY
- MA
- NJ
- NY
- OH
- UT
When it comes to managing the exceptional wealth of prominent family offices, Allen can speak from personal experience. He helped form a family office and family foundation with his own family after the sale of their business and then worked with one of the world’s largest family offices in Europe. Throughout his 20-year career, Allen has worked with individual and institutional investors globally and participated in all facets of financial services, including transactional planning, investment and risk management, legal and operations.

Today, as a Private Wealth Advisor and founding partner of his UBS Private Wealth Management team, Families & Foundations Investment Group, Allen brings invaluable perspective and empathy to the team’s relationships with multigenerational families. He continues to help form and advise family offices and foundations large and small. Allen and his team also advise successful ultra high net worth investors and private business owners in pre- and post-transaction planning, asset management, next-generation investment education and the financing of philanthropic initiatives. In addition, he provides investment management services for private and family foundations and nonprofit organizations.
8044 Montgomery Road
Cincinnati, OH 45236
Orly Elliott

Senior Vice President–Wealth Management

Financial Advisor
View bio Industry recognition
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- GA
- HI
- IL
- IN
- KY
- LA
- MA
- MD
- ME
- MI
- MN
- MO
- NC
- NE
- NH
- NJ
- NV
- NY
- OH
- OK
- OR
- PA
- PR
- SC
- TN
- TX
- UT
- VA
- VT
- WA
- WI
- WV
- WY
Orly is a Senior Vice President at UBS Wealth Management and has served her clients as a private banker since 2010. She takes pride in forming close relationships with her clients, enabling her to develop a deep understanding of their financial needs and desires. This allows her to work with her clients in order to develop a strategy for the present as well as the future.

Orly advises business owners and entrepreneurs, corporate executives, families, endowments and philanthropic organizations. She utilizes her relationships and experience to counsel clients on customized investment portfolios, credit and liquidity needs, trust and estate
planning, and cash management solutions.

Orly holds a bachelor’s of business administration degree from the Stephen M. Ross School of Business at the University of Michigan, her Series 7, 63 and 66 licenses, as well as life and health insurance licenses. Prior to joining UBS, Orly spent more than a decade as an advisor in JPMorgan’s Private Bank. An active member of her community, Orly and her husband, Justin, live on the Upper East Side of Manhattan with their sons, Adam and Aaron.
- Forbes Best-in-State Wealth Management Teams, 2023, 2024The Forbes rating is compiled by Shook Research and awarded annually in January, based on information from a 12 month period ending March of the prior year.
1285 Avenue Of The Americas
New York, NY 10019
Timothy Bayer

Vice President–Wealth Management

Financial Advisor
View bio
- AZ
- CA
- CT
- DE
- FL
- HI
- IL
- IN
- KY
- MA
- NJ
- NY
- OH
- UT
Throughout his 12-year career, Tim has served as a Portfolio Manager and Institutional Consultant to global endowments, non-profit organizations, and prominent philanthropic families, helping them formulate and execute tailored investment strategies. Tim advises his clients on a wide range of investment related matters including, but not limited to, trade idea generation and execution, aggregation and due diligence of fund manager research, and the implementing of tactical solutions across discretionary portfolios spanning traditional and alternative asset classes.

Tim holds a Bachelor of Science in Business Administration degree from the McDonough School of Business at Georgetown University and a Master of Business Administration degree from the Carl H. Lindner College of Business at the University of Cincinnati.
- Georgetown University McDonough School of Business, B.S. Finance
- University of Cincinnati Lindner School of Business, M.B.A.
- Institutional Consultant, UBS Institutional Consulting Program
8044 Montgomery Road
Cincinnati, OH 45236
Heidi Scali, CFA

Senior Wealth Strategy Associate
View bio
- AL
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- GA
- HI
- IA
- IL
- IN
- KY
- MA
- MD
- ME
- MO
- NC
- NH
- NJ
- NV
- NY
- OH
- OR
- PA
- PR
- SC
- TX
- UT
- VA
- VT
- WA
- WI
- WV
- WY
Heidi is a Senior Wealth Strategy Associate, and has over 10 years financial service experience
helping clients meet their financial needs. Heidi joined UBS in 2015 and after a short stint
away, returned in February 2022.
She provides investment strategy and portfolio construction support to the team and their
clients.

Heidi earned her Bachelor of Science in Finance from Syracuse University and is FINRA Series
7, 63, 65 and Life, Health and Variable annuity licensed. Continuing in the practice of lifelong
learning, Heidi has been awarded the designation of Chartered Financial Analysts,
a rigorous and comprehensive multi-year, self study program that is known for setting the
global standard in investment knowledge, standards and ethics.

Heidi currently lives in Scarsdale, NY. In her free time, of which there is little, she enjoys
spending time with her family and friends and hiking.
- Chartered Financial Analyst®
1285 Avenue Of The Americas
New York, NY 10019
Benjamin Pieper

Wealth Strategy Associate
View bio
- KY
- NY
- OH
Ben joins the Foundations Investment group from Xavier University’s Williams College of Business where he studied Finance & Accounting. During his senior year, he was the CEO of Xavier’s student-led equity investment fund which managed a portion the school’s endowment.

He holds the series 7 and 66 security licenses.

Ben is a native of Northern Kentucky and current lives in Ft. Mitchell.
8044 Montgomery Road
Cincinnati, OH 45236

Justin Cifone

Client Associate
View bio
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- HI
- MA
- MD
- NJ
- NY
- UT
- VA
- WV
- WY
Justin is an associate with the UBS Foundations Investment Group, where his areas of focus include client service, online services, money movement and transfers.

He holds a series 7, 65, and New York Life, Accident, and Health licenses.

Justin is a graduate of Seton Hall University with a double major in Finance and Information Technology. He currently resides in the upper east side of Manhattan.
1285 Avenue Of The Americas
New York, NY 10019

Eric Gioia

Managing Director–Wealth Management

Financial Advisor
View bio Industry recognition
- AK
- AL
- AR
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- GA
- HI
- IA
- ID
- IL
- IN
- KS
- KY
- LA
- MA
- MD
- ME
- MI
- MN
- MO
- MS
- MT
- NC
- ND
- NE
- NH
- NJ
- NM
- NV
- NY
- OH
- OK
- OR
- PA
- PR
- RI
- SC
- SD
- TN
- TX
- UT
- VA
- VI
- VT
- WA
- WI
- WV
- WY
Eric joined UBS as a Managing Director – Wealth Management, having most recently served as a Managing Director and Senior Banker at J.P. Morgan Chase. At UBS, Eric will continue to advise CEOs, founders, and ultra high net worth families and organizations in New York, just as he has since 2010. Eric and his team are responsible for all aspects of the client relationship, including strategic advice, investments, banking, risk management and succession planning strategies.

Before becoming an important member of the NYC business community, Eric was elected to serve in the New York City Council, representing Queens from 2002-2009. As a Councilman, he chaired the Committee on Oversight & Investigations, conducting more than 50 inquiries that helped the passage of important laws and increasing government accountability. Prior to his service as a Councilman, Eric served in the White House as a law clerk to the Deputy White House Counsel and practiced law at Milbank, Tweed, Hadley & McCloy.

Apart from UBS, Eric is an adjunct professor at the NYU College of Arts and Sciences and CUNY’s Macauley Honors College. For ten years, he has taught seminars on public policy and the future of New York. He previously served on the boards of MoMA PSI, the Museum of the Moving Image and Chess in the Schools. Now, he serves as a trustee of the Marymount School of NY and on the board of the Queens Library Foundation.

Eric is a graduate of NYU and Georgetown University Law Center. He lives with his wife, Lisa Hernandez Gioia, and their four children in New York City. Eric is an avid marathoner and has embarked on a quest to run a marathon on all seven continents.
- Forbes Best-in-State Wealth Management Teams, 2023, 2024The Forbes rating is compiled by Shook Research and awarded annually in January, based on information from a 12 month period ending March of the prior year.
1285 Avenue Of The Americas
New York, NY 10019
Allen Zaring

Managing Director–Wealth Management

Financial Advisor
View bio
- AZ
- CA
- CT
- DE
- FL
- HI
- IL
- IN
- KY
- MA
- NJ
- NY
- OH
- UT
When it comes to managing the exceptional wealth of prominent family offices, Allen can speak from personal experience. He helped form a family office and family foundation with his own family after the sale of their business and then worked with one of the world’s largest family offices in Europe. Throughout his 20-year career, Allen has worked with individual and institutional investors globally and participated in all facets of financial services, including transactional planning, investment and risk management, legal and operations.

Today, as a Private Wealth Advisor and founding partner of his UBS Private Wealth Management team, Families & Foundations Investment Group, Allen brings invaluable perspective and empathy to the team’s relationships with multigenerational families. He continues to help form and advise family offices and foundations large and small. Allen and his team also advise successful ultra high net worth investors and private business owners in pre- and post-transaction planning, asset management, next-generation investment education and the financing of philanthropic initiatives. In addition, he provides investment management services for private and family foundations and nonprofit organizations.
8044 Montgomery Road
Cincinnati, OH 45236
Orly Elliott

Senior Vice President–Wealth Management

Financial Advisor
View bio Industry recognition
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- GA
- HI
- IL
- IN
- KY
- LA
- MA
- MD
- ME
- MI
- MN
- MO
- NC
- NE
- NH
- NJ
- NV
- NY
- OH
- OK
- OR
- PA
- PR
- SC
- TN
- TX
- UT
- VA
- VT
- WA
- WI
- WV
- WY
Orly is a Senior Vice President at UBS Wealth Management and has served her clients as a private banker since 2010. She takes pride in forming close relationships with her clients, enabling her to develop a deep understanding of their financial needs and desires. This allows her to work with her clients in order to develop a strategy for the present as well as the future.

Orly advises business owners and entrepreneurs, corporate executives, families, endowments and philanthropic organizations. She utilizes her relationships and experience to counsel clients on customized investment portfolios, credit and liquidity needs, trust and estate
planning, and cash management solutions.

Orly holds a bachelor’s of business administration degree from the Stephen M. Ross School of Business at the University of Michigan, her Series 7, 63 and 66 licenses, as well as life and health insurance licenses. Prior to joining UBS, Orly spent more than a decade as an advisor in JPMorgan’s Private Bank. An active member of her community, Orly and her husband, Justin, live on the Upper East Side of Manhattan with their sons, Adam and Aaron.
- Forbes Best-in-State Wealth Management Teams, 2023, 2024The Forbes rating is compiled by Shook Research and awarded annually in January, based on information from a 12 month period ending March of the prior year.
1285 Avenue Of The Americas
New York, NY 10019
Timothy Bayer

Vice President–Wealth Management

Financial Advisor
View bio
- AZ
- CA
- CT
- DE
- FL
- HI
- IL
- IN
- KY
- MA
- NJ
- NY
- OH
- UT
Throughout his 12-year career, Tim has served as a Portfolio Manager and Institutional Consultant to global endowments, non-profit organizations, and prominent philanthropic families, helping them formulate and execute tailored investment strategies. Tim advises his clients on a wide range of investment related matters including, but not limited to, trade idea generation and execution, aggregation and due diligence of fund manager research, and the implementing of tactical solutions across discretionary portfolios spanning traditional and alternative asset classes.

Tim holds a Bachelor of Science in Business Administration degree from the McDonough School of Business at Georgetown University and a Master of Business Administration degree from the Carl H. Lindner College of Business at the University of Cincinnati.
- Georgetown University McDonough School of Business, B.S. Finance
- University of Cincinnati Lindner School of Business, M.B.A.
- Institutional Consultant, UBS Institutional Consulting Program
8044 Montgomery Road
Cincinnati, OH 45236
Heidi Scali, CFA

Senior Wealth Strategy Associate
View bio
- AL
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- GA
- HI
- IA
- IL
- IN
- KY
- MA
- MD
- ME
- MO
- NC
- NH
- NJ
- NV
- NY
- OH
- OR
- PA
- PR
- SC
- TX
- UT
- VA
- VT
- WA
- WI
- WV
- WY
Heidi is a Senior Wealth Strategy Associate, and has over 10 years financial service experience
helping clients meet their financial needs. Heidi joined UBS in 2015 and after a short stint
away, returned in February 2022.
She provides investment strategy and portfolio construction support to the team and their
clients.

Heidi earned her Bachelor of Science in Finance from Syracuse University and is FINRA Series
7, 63, 65 and Life, Health and Variable annuity licensed. Continuing in the practice of lifelong
learning, Heidi has been awarded the designation of Chartered Financial Analysts,
a rigorous and comprehensive multi-year, self study program that is known for setting the
global standard in investment knowledge, standards and ethics.

Heidi currently lives in Scarsdale, NY. In her free time, of which there is little, she enjoys
spending time with her family and friends and hiking.
- Chartered Financial Analyst®
1285 Avenue Of The Americas
New York, NY 10019
Benjamin Pieper

Wealth Strategy Associate
View bio
- KY
- NY
- OH
Ben joins the Foundations Investment group from Xavier University’s Williams College of Business where he studied Finance & Accounting. During his senior year, he was the CEO of Xavier’s student-led equity investment fund which managed a portion the school’s endowment.

He holds the series 7 and 66 security licenses.

Ben is a native of Northern Kentucky and current lives in Ft. Mitchell.
8044 Montgomery Road
Cincinnati, OH 45236
Justin Cifone

Client Associate
View bio
- AZ
- CA
- CO
- CT
- DC
- DE
- FL
- HI
- MA
- MD
- NJ
- NY
- UT
- VA
- WV
- WY
Justin is an associate with the UBS Foundations Investment Group, where his areas of focus include client service, online services, money movement and transfers.

He holds a series 7, 65, and New York Life, Accident, and Health licenses.

Justin is a graduate of Seton Hall University with a double major in Finance and Information Technology. He currently resides in the upper east side of Manhattan.
1285 Avenue Of The Americas
New York, NY 10019

Backed by the strength of UBS

A global leader in wealth management

^$5+ trillion

In invested assets globally
As of 11/07/2023

51 countries

Our global footprint

Philanthropic Advice

Euromoney Private Banking and Wealth Management Survey, 2011-2022

Guiding endowments and foundations forward

Institutional consulting

Sophisticated portfolio management

Our mission is to help advance yours

Aligning your investments and purpose

A trusted partner

Our services

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Group leadership

Eric Gioia

Allen Zaring

Orly Elliott

Timothy Bayer

Heidi Scali, CFA

Benjamin Pieper

Justin Cifone