WCM Investment Management
California-based firm flies Cessna Citation Sovereign to visit clients in the US, Canada, Mexico, and Central America.
By Rafael Henríquez
Managing Editor
In the fast-paced world of investment management, time is of the essence. The ability to meet clients, attend critical meetings, and conduct research is crucial to the success of firms that manage billions of dollars in assets.
For California-based WCM Investment Management, this need for speed and efficiency has been met by a strategic use of business aviation.
The company’s aircraft are more than just a mode of transportation – they are integral to its business model, helping executives and analysts stay ahead in the competitive world of global investment management. This is the story of how WCM uses its aircraft to support its core business and streamline its operations.
Company history
WCM was founded in 1976 and acquired in 1998 by current CEO & Portfolio Manager Paul Black and 3 partners when the original founder decided to retire. Since then, the company has grown from managing $200 million in assets to one of the most successful and respected firms in the industry, managing over $100 billion today.
The company specializes in global growth stocks, focusing on long-term investments in high-potential markets around the world. “We manage investment portfolios for endowments, foundations, private corporations, public funds, and hospitals,” explains Black. “We invest in public markets, buying global growth stocks all over the world.”
WCM’s business philosophy revolves around thorough research, deep client relationships, and strategic portfolio management. “We’ve been able to grow so much because the strategies that we invest in have done significantly better than the markets since we acquired WCM,” adds Black. “A lot of people know us in the financial markets.”
A visionary leader
Black’s leadership and strategic vision have been instrumental in the company’s rapid growth and success. Under his leadership, WCM has grown tremendously, and his focus on building strong relationships with clients and delivering exceptional investment returns remains central to the firm’s operations 20-plus years after he acquired the company.
Paul’s decision to bring aviation into the business came about as the company began expanding and the demands on his time became more pronounced.
Initially, chartering aircraft for travel to remote meetings and important business events made sense, but as the business grew, Paul saw the opportunity to buy an aircraft that could be more regularly available and tailored to the specific needs of the firm.
WCM’s foray into aviation
To support its growth and to meet the increasing demands of the business, WCM has made several strategic decisions over the years, one of which has been the use of business aviation. “Seven years ago, we chartered a plane. The pilot was Bob Kalhori,” relates Black. “He and I struck up a relationship.
We would meet up often, and over a 2-year period, we decided to buy an airplane.” The duo looked at many aircraft models before agreeing to purchase a Cessna Citation Sovereign. Currently, the firm’s aviation department is led by Chief Pilot Bob Kalhori. He and First Officer Daniel Perez ensure that the aircraft is always ready.
For WCM, however, aviation isn’t just about having a plane. It’s about how executives use it to maximize their time. “Probably everyone says this, but the aircraft is a time machine,” remarks Black. ”In a couple of days, we can complete missions that would have taken us up to 5 days without a business aircraft.”
Efficiency on the fly
Based at SNA (John Wayne, Santa Ana CA), WCM’s Citation Sovereign is used for a variety of missions, all of which center around business efficiency.
The aircraft’s primary role is to allow the team to travel for client meetings, research trips, and corporate functions. For example, executives fly from SNA to cities that are not easily accessible by direct flights in states like Oregon and Illinois. “We recently went to Baltimore, New York, and St Louis MO,” says Kalhori.
Black adds, “We use the Citation when we’re doing research trips around the country. We’ll bring 4 business analysts on the plane, and the time that we spend on the plane is some of the most valuable time that we have, because we talk to each other to plan strategies about the meetings we’re going to have.”
In order to maximize productivity even more, WCM’s Citation is equipped with Gogo Avance L3 broadband Internet connectivity. This enables executives to discuss the latest market trends, analyze portfolios, or formulate new investment strategies while in the air.
“Those flights are some of our most productive time,” says Black. “It’s uninterrupted time for collaboration. We can dive deep into the numbers, discuss strategy, and formulate the next steps while we’re en route to the meeting.”
WCM’s ability to travel quickly to multiple locations has been an enormous advantage in staying ahead of trends and maintaining strong relationships with key clients in the US and abroad. Kalhori says, “We use the Sovereign to visit clients in Canada, Mexico, and Central America. And although we could fly it across the Atlantic, we prefer to use commercial aviation to visit partners in Europe.”
The Citation Sovereign flies approximately 250 hours a year. Flight planning is handled in house by Kalhori and Perez using ARINCDirect, FltPlan.com, and ForeFlight. “FBO selection is based on fuel discounts, so we use primarily Signature and Atlantic Aviation,” points out Kalhori.
Expertise in aviation
Leading the firm’s aviation department is Chief Pilot Bob Kalhori. His background in aviation spans over 35 years, and his expertise is unmatched in corporate aviation. A veteran of flying corporate jets, he is rated in 11 different types of aircraft, including Gulfstream, Dassault Falcon, Citation, and Hawker business jets.
Kalhori’s relationship with WCM dates back to a time when the firm was chartering planes for business trips. Over time, he became more involved with the company, eventually helping them select and purchase the Citation Sovereign.
His deep knowledge of aviation and the aircraft market allowed WCM to make an informed decision about their purchase, ensuring that the plane would meet the company’s needs.
Kalhori has accumulated more than 13,000 flight hours. He oversees every aspect of the firm’s aviation operations, from scheduling flights to ensuring that all maintenance requirements are met. “ACI Jet South SNA takes care of the Sovereign’s maintenance needs. They’re a Textron authorized service center, and we have a great relationship with them,” he says. “For major inspections, we visit West Star Aviation GJT (Grand Junction CO).”
First Officer Daniel Perez has a somewhat unconventional background. Before pursuing aviation, he worked in the military and the fire service, later transitioning to other roles overseas, including in the Middle East and at a hospital. His interest in aviation grew, and he eventually decided to pursue his private pilot’s license, accomplishing the feat in just 43 hours of flight training.
After earning his private pilot’s license, he continued to pursue his aviation career, working as a flight instructor before transitioning to flying corporate aircraft.
His first jet experience came when he joined WCM and began flying the Citation Sovereign. He completed his type rating for the Sovereign through a fast-paced training program, and he now plays a key role in ensuring the safe and efficient operation of the aircraft.
Perez’s commitment to safety and his passion for flying make him a crucial part of WCM’s aviation team. His fast track to jet flying and his ongoing recurrent training every 6 months at FlightSafety ensure that he remains at the top of his game, enabling WCM to maintain high standards of flight operations.
Conclusion
At WCM Investment Management, business aviation is more than just a luxury – it’s a critical business tool that supports the firm’s operations and contributes to its ongoing success. From enabling executives and analysts to travel efficiently and stay productive in flight, to allowing the firm’s leadership to maintain strong client relationships and perform due diligence across the globe, the company’s aircraft help to ensure that WCM remains competitive and responsive in an increasingly fast-paced industry.
Black’s strategic vision, Kalhori’s expertise in aviation, and Perez’s dedication come together to form the backbone of WCM’s aviation department. Through their efforts, the company’s aircraft has become an integral part of their business operations, further enhancing their ability to manage their growing portfolio of assets and continue their trajectory of success. With plans for continued expansion and a focus on excellence in every aspect of the business, WCM Investment Management is poised to maintain its leadership in the global investment management space – airborne or otherwise.