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Your Team            

Meet Your Team

(Click pictures for bios)

Jean-Luc Nouzille, CFA Photo
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Jean-Luc Nouzille, CFA

Portfolio Manager & Co-Founder

Jean-Luc Nouzille

Portfolio Manager & Co-Founder
CFA® charterholder, CFA Institute

Jean-Luc started his career in finance in 1987. Prior to founding Bristlecone in 2004, he was a Senior Vice President and an international and US equities portfolio manager/analyst at Oppenheimer Investment Advisers. Previously, he was an Associate with JP Morgan where he was trading foreign exchange derivative products.

 Jean-Luc grew up in the south of France where he earned a degree in political sciences from l'Institut d'Etudes Politiques d'Aix-en-Provence, a BA degree in economics from l'Université des Sciences Economiques d'Aix-Marseille III. Before receiving an MBA in finance from l'Institut d'Administration des Entreprises d'Aix-en-Provence, he served a 12-month tour in the Fusiliers-Commandos de l’Air, the airborne unit of the French Air Force.  

Jean-Luc lives today in Agoura Hills, California, where his wife started and owned an award-winning craft brewery and French bistro for 10 years. Owning  and selling a family business helped him be a better investor. 

When he’s not busy reviewing investments, Jean-Luc enjoys running, bicycling, spending time with friends, or traveling abroad with his family.  

Jean-Luc’s professional experience and personal background gives him a valuable perspective in helping clients that have distinctive investment needs, particularly business owners and expatriates.


David Fleer, CFA Photo
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David Fleer, CFA

Portfolio Manager & Co-Founder

David Fleer


David started his career in investment management in 1996. Prior to founding Bristlecone in 2004, David was a Senior Vice President and US equities portfolio manager/analyst at Oppenheimer Investment Advisers.

David grew up in North Carolina, then moved to Massachusetts, where he earned a Bachelor of Arts degree in history from Amherst College (Amherst, MA) and a Master of Arts degree in art history from Williams College (Williamstown, MA), with a focus on Italian Renaissance. Researching and discussing investment ideas around the conference room table, it turns out, is not all that different than discussing Leonardo around the seminar table.

David now lives in Los Angeles, California, with his wife, son and daughter. David has managed not to gain too much weight eating at Clementine, his wife's bakery café, attempting to burn off the calories by playing and coaching (and sometimes just watching) soccer, among other pursuits.

Josh Graybill, CFA Photo
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Josh Graybill, CFA


Josh Graybill


Josh became interested in investing after stumbling upon a biography of Warren Buffett in an Omaha airport bookstore one summer during college. After graduating U.C. Berkeley with a bachelor’s degree in history, Josh began his investment management career with Fisher Investments in Woodside, CA.

In 2004, Josh relocated to Los Angeles and became the first external hire at Bristlecone. In 2008, he was made a partner, and in 2010 he earned the Chartered Financial Analyst (CFA) designation. Josh lives in Santa Monica with his wife and sons. 

after team

Bristlecone is a fee-only, Registered Investment Advisor (RIA) established in 2004. We manage assets for private investors and families. A summary of the types of services we offer along with our fees, costs, and conflicts associated with those services is available on our firm’s Form CRS (Client Relationship Summary) by clicking here. It also provides information on our firm’s standard of conduct as a fiduciary, whether our firm or associated persons have disciplinary history. Further information can be found in our form ADV filing, which is available on the Securities & Exchange Commission (SEC) Investment Adviser Public Disclosure website.

What Does CFA Mean?

The Chartered Financial Analyst (CFA) is a globally respected, graduate-level investment credential awarded by CFA Institute – the largest global association of investment professionals. To earn and maintain the CFA charter, candidates must:

  • Pass three sequential, annual, six-hour examinations covering topics such as wealth and investment management, ethical and professional standards, financial analysis, and economics;
  • Have at least four years of qualified professional investment experience;
  • Join CFA Institute as members;
  • Commit to at least 20 hours of annual continuing professional education and development; and
  • Commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. To learn more about the CFA charter, visit www.cfainstitute.org.