Joseph McCaffrey

Joseph K. McCaffrey is the Chief Investment Officer at Salem Investment Counselors, based in Durham, North Carolina, where he leads investment strategy, portfolio management, and equity analysis for the firm's diverse client base of individuals, foundations, and organizations. In this role, he is responsible for designing portfolios tailored to clients' risk tolerance and objectives, with a focus on public, marketable securities and equities as the foundation of most investment strategies. His investment expertise spans U.S. and global equities, with particular emphasis on strategic investment planning, capital allocation, and operating margin optimization, honed through both advisory and institutional portfolio management experience.

Prior to joining Salem in 2015, McCaffrey served as Managing Director of Research and Insights at The Advisory Board Company in Washington, D.C., where he worked extensively with hospitals and healthcare systems, providing investment guidance and analytics for capital prioritization and market growth. His background also includes significant experience in equity analysis and business strategy, which inform his current approach to managing multi-asset portfolios and implementing rigorous equity research at Salem Investment Counselors.

McCaffrey holds an MBA from Duke University's Fuqua School of Business and a Bachelor of Arts in History from Harvard University. He is an active member of the CFA Institute and the CFA Society of North Carolina, reflecting his commitment to high standards in investment management and ongoing professional development.