Quantitative evidence for investment professionals

The record behind the decision.

Marnello produces the quantitative evidence that investment advisers and family offices use to document decisions: factor exposure decomposition, manager attribution, and statistical substantiation, built on point-in-time data and delivered with a reproducible methodology.

See the products Sample Portfolio Evidence Report (PDF)September Quantitative Note

Commercial launch Q1 2027 · Founding-customer conversations open now

Every product answers a question you are already being asked

"Are your portfolio's tilts intentional?"

Factor exposure decomposition

Momentum, low volatility, size, and reversal loadings on the submitted holdings, with the construction methodology attached.

Professional

"Is this manager earning their fee?"

Alpha-versus-factor-beta attribution

Return decomposition separating factor beta from residual alpha, with statistical significance on the residual. A measurement, not a verdict.

Professional

"Can you substantiate that claim?"

Substantiation File

The statistical record connecting a stated capability or performance claim to measured outcomes. Formatted for a compliance file.

Standalone · Enterprise

"Why did you rebalance then?"

Regime and dispersion context

Volatility regime, cross-sectional dispersion, and correlation structure at the decision date, with historical analogues.

Core

"Is your concentration controlled?"

Correlation and drawdown decomposition

Sector and asset-class correlation matrices, period change, and diversification measurement.

Core

Every output is descriptive.

The buyer has already decided. Marnello measures and documents the basis. No ratings, no targets, no opinion on advisability.

Product boundaries →

Why the record matters

Documentation is now the examination standard.

Examiners request records showing the reasoning behind investment decisions. Records created after the fact draw scrutiny even where the decision was sound. The SEC Marketing Rule requires that capability and performance claims be substantiated by documentation connecting the claim to actual outcomes.

Compliance software stores the record. Enterprise analytics platforms compute at institutional prices. Marnello produces the quantitative substance that goes inside the record, for firms below $1B.

2,200

U.S. securities in the launch universe

Validated factor families at launch, six in Year 2

t-stat

Every published factor ships with Fama-MacBeth significance and out-of-sample results

10 days

Substantiation File delivery, fixed fee

Point-in-time discipline

Tested against what was knowable on the day.

As-reported values, original timestamps

Data is preserved as it was published, never overwritten by restatements. Every computation is constrained to information available at the simulated decision date.

Survivorship-free universes

Historical index membership and delisted securities are retained, so a backtest is not quietly flattered by the companies that disappeared.

Validation before publication

Cross-sectional regression, decile portfolio analysis, holdout testing, and transaction cost sensitivity. A factor that only works before costs is not published.

Read the full methodology →

Who it is for

Firms that must justify decisions to someone else, and have no quant desk.

Registered investment advisers, $100M–$1B

Five to twenty people, discretionary, individual and high-net-worth clients. The trigger is usually an examination request, a marketing claim under compliance review, or a client asking why performance lagged.

Core · Professional

Family offices

Manager selection and oversight. The question is whether an active fee is buying alpha or factor beta, and the answer has to be defensible to a principal.

Professional · Enterprise

Independent research providers

Two to fifteen person shops selling to institutions that need quantitative infrastructure without building it. Custom model licensing and API access.

Enterprise · Custom

Marnello and the tools you already have

Not a replacement for your data platform.

A charting or screening platform gives you data and a workbench; the subscriber still has to build the analysis, write the methodology, and defend it. A compliance platform stores the record but produces no quantitative content. Marnello produces the finished, documented analysis that goes between them. Most clients keep all three.

	Data platform	Compliance platform	Marnello
Raw data and charts	Yes	No	Built on, not resold
Factor decomposition of your holdings	Do it yourself	No	Delivered quarterly
Methodology document and validation record	No	No	With every deliverable
Stores the record	No	Yes	Formatted to drop into it
Recommendations	No	No	No, by design

Questions we are asked

Frequently asked.

Is this investment advice?

No. Every deliverable measures and describes; none rates, targets, or recommends. No product accepts your objectives, risk tolerance, or financial circumstances as an input. Marnello LLC is not a registered investment adviser.

Can the output go straight into a compliance file?

That is what it is formatted for. Each report carries its methodology, data sources, computation date, limitations, and a governance record with the reviewer's sign-off.

How do I know the factors are built correctly?

Every factor ships with its validation record: Fama-MacBeth t-statistics, decile results, holdout-period performance, and transaction cost sensitivity. The momentum spread is cross-checked against the public French UMD series (correlation 0.90, 2016–2026), which any reader can reproduce.

What do you need from me?

For Core, nothing. For Professional and Enterprise, a holdings file (ticker and weight) for each portfolio, and the return series of any manager to be attributed. No account access, no credentials.

Is there a free trial?

A 30-day paid pilot at half the tier rate, converting automatically unless cancelled. It delivers the full tier experience. The public Quantitative Note is free.

What happens to my holdings data?

Processed as a data set to produce the requested deliverable, under a defined retention policy, and not used for any other purpose. See the privacy policy.

Monthly Quantitative Note

A four-page abbreviation of the Core review, published free.

Factor performance, dispersion, volatility regime, and correlation structure each month. Screening output and full methodology are reserved for subscribers.

No securities are referenced as opportunities. Unsubscribe any time.