Welcome to the 14th episode of the Monthly Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream. 

Here’s the latest episode of the Monthly Alts Pulse, a live conversation in studio with Lawrence Calcano, the Chairman & CEO of iCapital. As the leader of a platform with over $200B of assets that is responsible for the majority of individual and advisor-led investment flows into the alts space, Lawrence and iCapital have their finger on the pulse of what’s happening in private markets.

On this episode, Lawrence and I had a fascinating and lively discussion. We covered:

• Has private markets moved from access as table stakes to customization and differentiation?
• What are the different phases of private markets — and how has iCapital built solutions for each?
• Is data the oil for private markets?
• How will model portfolios fit into the wealth channel’s adoption of private markets?
• If advisors now have access to private markets, how do they differentiate?
• How does the trend of OCIOs being acquired by wealth managers factor into the continued evolution of wealth channel adoption of private markets?
• The nuances of diligence on fund managers.
• Why do private markets “start and stop at the advisor’s desktop?”
• What's the interplay between brand, access, and customization?

Thanks Lawrence for a great episode … looking forward to next month’s conversation!

Show Notes
00:00 Introduction

00:23 Trends in Wealth Management: Customization and Differentiation

00:46 The Evolution of Private Markets Access

01:28 Building Bespoke Programs for Advisors

01:50 The Importance of Better Fit for Clients

02:26 Infrastructure and Customization in Wealth Channels

02:39 Phases of Evolution in Wealth Management

03:29 Expanding Product Access and Automation

03:49 Creating an Operating System for Wealth Management

04:30 The Role of Model Portfolios

04:56 The Role of Technology and Tools in Customization

05:21 Differentiation Through Custom Solutions

06:17 Understanding Customization in Wealth Markets

07:11 The Role of Diligence in Wealth Management

09:40 Reconciling Efficiency and Thoughtful Allocation

09:59 Advisors' Role in Customization and Differentiation

10:08 The Advisor's Role in Client Education

11:01 The Future of Secondary Markets and Evergreen Products

12:07 Tools for Advisors: Information and Fit

14:57 The Importance of Education and Technology

16:17 Product Innovation and Customization

19:23 Conclusion: Balancing Tensions in Wealth Management