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Jeff Chang: President and Co-Founder of Vest

By Vest Team · January 2, 2026

Executive Profile & Quick Facts

Current Role President & Co-Founder, Vest Financial™ (“Vest”)
Known For Target Outcome Strategies®, Derivatives-based investment solutions, Venture Capital
Assets Under Management >$50 Billion (Vest Financial™)*

*As of September 30, 2025. $46.4B assets under management, $8.4B non-discretionary assets under supervision.
Education Georgetown University (McDonough School of Business)
Certifications CFA
Previous Experience ProShares, FBR & Co., Freddie Mac, World Bank

Who is Jeff Chang?

Jeff Chang is the President and Co-Founder of Vest, an investment management firm dedicated to Target Outcome Strategies®. Under his and Co-Founder Karan Sood’s leadership, Vest combines deep technical expertise with practical, outcome-focused products to bring more certainty and clarity to portfolios. Chang is responsible for driving innovation, research, and positioning of the firm’s offerings across all distribution channels. 

Alongside co-founder Karan Sood, Chang has grown Vest to manage and service over $50 billion in assets (as of September 2025). The firm’s work focuses on utilizing regulated investment vehicles like ETFs and mutual funds to deliver defined outcome strategies.

Certifications and Teaching

  • CFA Charterholder: Active designation.
  • Additional Certifications: He has also previously held CPA (Certified Public Accountant) and CFE (Certified Fraud Examiner) certifications.
  • Instructor Roles:
    • CFA review instructor for Kaplan Schweser.
    • CPA review instructor for Becker Professional Education.

Professional Background and Experience

Before co-founding Vest in 2012, Chang acquired over a decade of experience across various sectors of the financial services industry.

  • ProShares: Served in investment research and product management, focusing on translating complex alternative strategies into accessible ETFs.
  • FBR & Co.: Gained trading platform experience across equity, high yield, convertible securities, and listed options. This role was pivotal in developing his expertise in using derivatives for asset protection and income generation.
  • Freddie Mac & The World Bank: Early career roles that provided foundational exposure to institutional finance and interest rate options within mortgage securities.

Product Strategy and Innovation at Vest 

Chang co-founded Vest in 2012 with a vision to pioneer Target Outcome® investing. 

Key Innovations:

  • The “Target Outcome®” Approach: Under Chang’s leadership, Vest pioneered the use of FLEX Options (FLexible EXchange Options) within registered funds.
  • Product Strategy: This innovation allows investors to access defined buffers (protection) and caps (growth potential) without the credit risk of a bank issuer.
  • Expansion: The investment strategies suite now includes Target Buffer®, Target Growth, Target Income, and Target Financing™ strategies across the U.S., Canada, and Europe.

Teaching and Financial Education

Jeff Chang is actively involved in professional financial education. He serves as an instructor for:

  • Kaplan Schweser: Instructor for the CFA review program.
  • Becker Professional Education: Instructor for the CPA review program.

This commitment to education informs his product philosophy, ensuring that complex derivative strategies are structured transparently for financial advisors and their clients.

Frequently Asked Questions about Jeff Chang
and Vest

Who is Jeff Chang?

Jeff Chang is the President and Co-Founder of Vest. He is a recognized expert in derivative-based investment strategies. Before founding Vest in 2012, Chang held positions at ProShares, FBR & Co., Freddie Mac, and the World Bank.

What certifications does Jeff Chang hold?

Jeff Chang is a CFA charterholder. Additionally, he has previously held CPA (Certified Public Accountant) and CFE (Certified Fraud Examiner) certifications. He is also an active instructor for the CFA review for Kaplan Schweser and a CPA review instructor for Becker Professional Education.

How much does Vest manage in assets?

As of September 2025, Vest Financial™ manages and services over $50 billion in assets*. The firm offers strategies across the United States, Canada, and Europe.

* As of September 30, 2025. $46.4B assets under management, $8.4B non-discretionary assets under supervision.

What is Target Outcome® Investing?

Target Outcome® Investing is a strategy pioneered by Vest that uses FLEX Options to target specific return profiles. This approach allows investors to seek a defined level of growth while establishing a specific buffer against losses, moving beyond simple index tracking to outcome-oriented portfolio design.

Where did Jeff Chang go to college?

Jeff Chang graduated from the McDonough School of Business at Georgetown University and also attended the United States Naval Academy.

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