Miracle Mile Advisors LLC has launched an institutional consulting division to expand its platform to institutional investors including pension plans, foundations, endowments and nonprofits.

Gerard Tamparong, Frank Lee and Michael Treidl will lead the new division. They worked at Payden & Rygel, where Tamparong was senior vice president and senior portfolio manager in the asset allocation management group, Lee was senior vice president and member of the equity strategy group and Treidl was a vice president and portfolio manager in the asset allocation management group.