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Portfolio Team

William E. Flaig Jr.
Chief Investment Officer

Bill joined Arrow Investment Advisors in February of 2007. His experience of more than 16 years includes two years as a principle of Paladin Asset Management, where some of his original research in Absolute Return Factors evolved into the Arrow Alternative Solutions Fund. During his five years at Rydex Investments, he was Director of Portfolio Management and managed the entire portfolio team.

While at Rydex, Bill defined the concept of hedge fund replication, initiated the research and investment strategies on which several alternative funds are based, and then directed the management of those strategies. He also developed best practices for creating leverage within the constraints of an actively traded open-end mutual fund.

Bill also spent six years at Bankers Trust Company in a range of roles including currency trading, proprietary trading, derivatives structuring, emerging market fixed income and currency trading. Bill graduated from Purdue University with a degree in management.

John R. Serrapere
Director of Research


John has been advising investors since 1983. He currently serves as President of Arrow Insights, LLC and provides ongoing research for investors seeking alternative investment options and consults on hedge strategies for institutional investors. He was formerly the analysts and investment strategists for Foster Holdings, Inc., a large Pittsburgh-based family office. John previously served as a principal of Rydex Leveraged Hedges, LLC, where he designed registered and non-registered products. John has been published in The Journal of Indexes, Financial Advisor Magazine, Corporate Finance Review and The Retirement Planning Journal. He writes a regularly featured column titled "Active Indexer" for Index Universe.

Jonathan S. Guyer
Assistant Portfolio Manager


Jon joined Arrow Investment Advisors in October 2013 after spending seven years with Longview Funds Management, LLC. During his tenure at Longview, he served the Principal, Director of Research and Chief Investment Officer of the firm. Prior to Longview, Jon spent seven years as the head of the Proprietary Hedge Fund Group of Alex Brown & Sons, Inc., followed by five years serving as the head of Alternative Investment Product Development for Legg Mason Wood Walker, Inc. Throughout his investment management career, he has practical experience working with index design, active portfolio management, trading, manager selection, due diligence, marketing and fund administration.

Prior to his career in investment management, he spent eight years in the audit industry, serving as a senior audit manager for commercial banks and trust companies. Jon earned his bachelor’s degree in business administration from the University of North Carolina-Wilmington.