Dr. Richard Michaud is the President and Chief Investment Officer at New Frontier. His research and consulting has focused on asset allocation, investment strategies, global investment management, optimization, stock valuation, and trading costs. He earned a PhD in Mathematics from Boston University and has taught investment management at Columbia University. He is the author of Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation (Harvard University Press, 1998 and Oxford University Press, 2008) and many refereed academic and professional articles. He is the co-holder of four U.S. patents in portfolio optimization and asset management. He is a Graham and Dodd Scroll winner for his work on optimization, a former editorial board member of the Financial Analysts Journal and a member of the editorial board of the Journal of Investment Management.

Robert Michaud is the co-holder of four U.S. patents in portfolio optimization and asset management and is the Managing Director of Research and Development at New Frontier. Mr. Michaud holds a Masters in Mathematics from Boston University and pursued a PhD in finance from the Anderson School of Management at the University of California at Los Angeles before joining New Frontier. His research interests include risk models, empirical asset pricing, and international finance. He is co-author of Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation, (2nd ed. Oxford University Press, 2008) and research articles in refereed journals.

Matthew V. Pierce is the Chief Operating Officer and co-founder of New Frontier. He has substantial practical experience in investments, portfolio optimization, asset allocation, capital market forecasting, financial planning and investment technology. Mr. Pierce is primarily responsible for firm operations, business and strategy, investment compliance, reporting and customer support. Mr. Pierce is a graduate of Harvard College, with continued education from Boston University (Certificate in Financial Planning) and Bentley College (Accounting). Mr. Pierce is a licensed CPA in Massachusetts.

Dr. David Esch, Director of Research, earned his PhD in statistics from Harvard University. He has specialized knowledge in mathematical statistics, numerical analysis and computation, Bayesian statistics, and econometrics. In addition to his work in finance, he has published statistical resarch in many other areas, including image reconstruction for low-photon-count telescope data, psychological test assessment, and various other areas of health care research. He is the author of "Non Normality Facts and Fallacies," (Journal of Investment Management 1st quarter 2010). A native of Boston, he attended Harvard College before obtaining a master's degree in mathematics from Boston University.

Elise Schroeder, Research Analyst, has three years of investment experience at New Frontier. Active in the research and investment projects of the company, her areas of expertise include ETF analysis and international risk metrics. Ms. Schroeder earned a bachelor's degree in Economics from Boston University.