Independent thought, analytical discipline and the confidence to move contrary to the crowd
While many find comfort in crowds, few investors who seek that refuge capture the type of success that is the objective of actively managed investing. Our professionals serve with clear accountabilities, demonstrated expertise and the temperament to follow high convictions. Meet our team:
Ryan P. Batchelor, CFA, CPA
Principal, Portfolio Manager
Ryan is Principal, co-founder and Portfolio Manager of Clifford Capital Partners. Prior to founding Clifford Capital in 2010, he served three years as a Senior Equity Analyst at Wells Capital Management where he was a generalist, scouring all sectors of the market but also had specific responsibility for the financial services sector.
Before joining Wells Capital Management in 2007, he was an Equity Strategist and Analyst with Morningstar where he served as specialty finance analyst and team leader.
In addition to his years of experience in equity portfolio management and analysis, he also worked for three years at KPMG as an auditor. Prior to that he volunteered for two years in Micronesia with an international non-governmental organization working with people in rural island areas within the Pacific Ocean.
He graduated summa cum laude from Brigham Young University – Hawaii with a B.S. in Accounting and received his M.B.A. with an emphasis in Finance from the Marriott School of Management at Brigham Young University. He holds the Chartered Financial Analyst® designation and is a Certified Public Accountant (CPA).
Heather D. Bryce
Principal, Chief Operating Officer
Heather is Principal and Chief Operating Officer of Clifford Capital Partners, overseeing and coordinating the firm’s general operations. Prior to joining Clifford in 2015, she worked for Brigham Young University as an Academic Products Manager.
Before joining Brigham Young in 2008, she worked as the Assistant Chief Operations Officer for Charles River Computers managing the firm’s staff and procedures. Prior to that, she worked as an Analyst and Portfolio Assistant for City of London Investment Management.
In addition to her years of project management experience, she also volunteered for eighteen months in Northern California with an international non-governmental organization.
She graduated from Brigham Young University with a B.A. in Communications and received her M.B.A. with an emphasis in Finance from the Marriott School of Management at Brigham Young University where she was distinguished as both a Hawes and Eccles Scholar.
Principal, Managing Director
Roger is Principal and Managing Director of Clifford Capital Partners. Prior to joining Clifford in 2019, he spent fifteen years in various sales and leadership positions in distribution at William Blair.
Before joining William Blair in 2004, he spent six years at Wasatch Advisors managing the firm’s intermediary distribution business in the eastern United States.
In addition to his twenty years of experience in institutional investment management, he also worked as an educational consultant for one year outside Tokyo, Japan and three years in Taipei Taiwan. Prior to that he volunteered for two years in Brazil with an international non-governmental organization working with people in dense urban cities and remote rural areas in the Amazon jungle.
He graduated magna cum laude from the University of Hawaii at Manoa with a B.A. in Chinese and Economics and received his M.B.A from the Wharton School at the University of Pennsylvania.
Kristina is Operations Analyst of Clifford Capital Partners, assisting the Chief Operating Officer in the firm’s daily operations. Prior to joining Clifford in 2019, she co-owned and worked for Myles High Restoration as Office Manager where she oversaw all vendor compliance reporting and managed the company’s employees and operations.
Kristina has also worked as a research assistant for The United States Air Force Academy’s Concussion Testing Program, and in the medical field for Taylor Medical.
Kristina also uses her organizational skills serving in charitable and educational organizations.
Allan C. Nichols, CFA
Allan is Senior Analyst of Clifford Capital Partners. Prior to joining Clifford in 2019, he spent fifteen years at Morningstar as a Senior Equity Analyst with a focus on Europe, living in the Netherlands for three years to establish the firm’s European office for equity analysts.
Before joining Morningstar in 2004, he was a Senior Equity Analyst and Portfolio Manager at Kirr, Marbach & Co., working on the firm’s international equity team.
In addition to his years of experience in equity portfolio management and analysis, he also volunteered for two years in Southeast England with an international non-governmental organization.
He graduated from the University of Utah with a B.S. in Finance with an emphasis in investments and received his M.B.A. from Indiana University with an emphasis in Finance and Economics. He holds the Chartered Financial Analyst® designation.
David W. Passey, CFA
Principal, Investment Analyst
David is Principal and Investment Analyst of Clifford Capital Partners, where he assists the portfolio manager in the areas of portfolio review, new investment idea generation and valuation model creation. Prior to his current position at Clifford, he assisted the firm’s start-up operations as an intern in 2010.
In addition to his experience at Clifford Capital Partners, he also worked as an International Project Analyst intern for Itaú-Unibanco in Sao Paulo, Brazil. Prior to that he volunteered for two years in Brazil with an international non-governmental organization working with people in remote rural areas in Central Brazil.
He graduated summa cum laude from Utah State University in 2010 with a B.S. in Finance and Economics and minors in International Business and International Studies. He holds the Chartered Financial Analyst® designation.
Wayne G. Pierson, CFA, CPA
Principal, Chief Compliance Officer
Wayne is Principal, co-founder and Chief Compliance Officer of Clifford Capital Partners. He served as Chief Financial & Investment Officer at Meyer Memorial Trust since its inception in 1982 until his retirement from the Trust in June 30, 2014. He oversaw the Trust’s top decile performance ranking for foundations for the ten year period ending December 31, 2013 and in 2011, was recognized by Institutional Investor magazine as Small Foundation Manager of the Year (Small Foundation defined as AUM of under $1 billion).
Before joining Meyer Memorial Trust, he spent two years as Treasurer of Gregory Affiliates. Prior to joining Gregory Affiliates in 1980, he began his professional career as an auditor with Ernst & Ernst (now Ernst & Young).
In addition to his years of experience in institutional asset management, he is President of Acorn Investors, LLC, an investment holding company, and currently serves on the board of M Fund, Inc. Wayne previously served on the Oaktree Capital Group board for twelve years until September 2019. He initiated and conducted a comprehensive annual investment survey for nearly 170 foundations representing assets of approximately $250 billion for over 20 years. He has been both a speaker and panel member at numerous investment conferences in the United States and Europe. He has served as a trustee for several private trusts as well as serving on several nonprofit organization boards and committees including his role as the investment committee chair.
He graduated cum laude from California State University – Northridge with a B.S. in Business Administration. He holds the Chartered Financial Analyst® designation and is a Certified Public Accountant (CPA).