Alan Greenspan has a new post.

Advisors Capital Management said former Federal Reserve Chairman Alan Greenspan is now an economic advisor to the $1.4 billion RIA firm.

“I am very excited to resume working with one of the towering members of the economics profession. He has served our profession and our nation with distinction. I am now pleased we can bring the benefit of his insight to our investment clients,” said Chief Investment Officer Charles Lieberman, in a statement.

According to the RIA, Greenspan will work with senior members of the firm and its investment committee by “providing economic analysis to support the firm’s top-down approach to selecting sectors in the economy for investment.” He also is expected to share both economic and market valuation analysis.

ACM added that its investment process, which is led by Lieberman (who has worked as a Federal Reserve economist) identifies sectors that may be affected by macro developments and then makes value-focused, bottom-up securities selection.

ACM was founded in 1998 and is based in Ridgewood, New Jersey. It provides portfolio and wealth- management services to affiliated advisors and to institutional and retail investors clients.

Long History

Greenspan, 90, served five terms as chairman of the Fed’s Board of Governors, from August 1987 (when he was first appointed by President Ronald Reagan) through January 2006, serving under four U.S. presidents.

He also served as chairman of the President’s Council of Economic Advisers for President Gerald Ford from 1974 through 1977, and from 1981 to 1983, as chairman of the National Commission on Social Security Reform. In addition, he was a member of President Ronald Reagan’s Economic Policy Advisory Board and was a consultant to the Congressional Budget Office.Last week, Greenspan repeated his view that the 2010 Dodd-Frank Act should be scrapped.

“I don’t think this bill is working at all and I would like to see it repealed,” he told Bloomberg Television. “But I must admit that the politics are such that that is called wishful thinking.”

Though Greenspan has said that simply shunning regulation is a flawed approach, he remains skeptical of Dodd-Frank and believes it should be shelved if banks hold larger cushions of capital.