Expert Litigation Support On Fiduciary Investment Issues2019-08-23T16:58:50+00:00

Chris Tobe, CFA, CAIA has over 30 years of experience working in investments as a consultant, money manager, trust officer and regulator. He provides expert legal consulting to over 25 complex investment and pension cases since 2009. The majority of his cases have involved 401(k) & ERISA, but also public pensions & trusts subject to state fiduciary laws. Chris is one of a handful of people with both the CFA and CAIA credential with significant private sector work experience (20+ years) in portfolio management and investment consulting, who is available as an expert witness.

Chris Tobe CFA, CAIA is the leading expert of fiduciary issues in ERISA insurance related products, including target date funds, variable annuities, index annuities & fixed annuities or Stable Value and has worked over a dozen cases. Tobe is also the fiduciary expert in public pension investments of all asset classes equity, fixed income, and alternatives under state fiduciary laws and has written 3 books, numerous articles and 5 cases. Tobe is an expert in on the CFA institutes Fiduciary standards for Trustees and Asset Managers including performance measurement standards (GIPS) and has written several articles and dedicated chapters in books. He is known for finding undisclosed fees and undisclosed risks in investments that result from breaches of fiduciary duty.

Chris also has the unique perspective as an investment consultant for NEPC and FEG working DB and DC pension plans. As a consultant he has been involved in manager selection and review of all asset classes including private equity, hedge funds and other alternatives as well as asset allocation studies and fee studies. As a VP for AEGON Transamerica for 7 years he managed and help create stable value, fixed annuity and index annuity products. Tobe also served as a trustee for the $14 billion KY Retirement System and serves on the Investment committee of the Delta Tau Delta Foundation. He has attended the Harvard Law School Program for

Advanced Trustee Studies and the Stanford Law School Fiduciary College in connection with his trustee duties. Tobe has published comments and articles on Fiduciary Rules in 401(k), Target Date Funds, Public pension plan management, Mutual Fund Directors, GIPS (CFA) Performance Presentation Standards, Choosing Investment Consultants, Tracking Error in Index Funds, Pension Investment Management Fees and many on Stable Value. Tobe has spoken at major national conferences on the following topics: Asset Allocation, Assumed Rates of Return in Public DB plans, Securities Lending, Target Date Funds, Index Funds, Social Investing, Evaluating Consultants, and Spending Rates in Foundations, Fees, TIPS, Hedge Funds, and Distressed Assets.

  • Consulting to Plaintiffs firm on ERISA class action case involving excessive hidden fees with a manufactures 401(k) plan specifically target date funds
  • Consulting to Plaintiffs firm on ERISA class action case involving excessive hidden fees with a hospital’s 401(k) & 403(b) plan including stable value and target date fund
  • Consulting to Plaintiffs firm on ERISA class action case involving excessive hidden fees in general account and separate account stable value
  • Consulting to Plaintiffs firm on ERISA class action case involving using mispriced mislabeled MBS and Private Mortgages in a fraudulent manner
  • Consulting to small city in case against state pension plans illegally using hedge funds, private equity as a breach of state fiduciary law.
  • Consulting to group of Teachers in case against state pension plans illegally using hedge funds, private equity as a breach of state fiduciary law.
  • Consulted to large financial institution on StableValue vs. other large institution Case using mispriced mislabeled MBS and Private Mortgages
  • Consulted to Plaintiffs firm on ERISA class action case involving bundled Life Insurance 401(k) overcharging own employees
  • Consulted to Plaintiffs firm on Class Action ERISA case involving bundled Life Insurance 401(k)
  • Consulted to Defendant Insurance Company in COLI/BOLI Case making case hedge funds were not insurable
  • Consulted to one Stable Value Fund manager on purchase sale agreement and arbitration surrounding it
  • Consulted to defendant Bank Trust Department on Fiduciary breach case