Dakota Live! Podcast

In this episode of dakota live!, host Robert Morier sits down with Aaron Dirlam, Co-Founder and Chief Investment Officer of Springtide Partners, for a wide-ranging conversation on building conviction in uncertain markets—and why humility remains one of the most underappreciated edges in investing.Founded in 2017, Springtide Partners has grown into a trusted investment partner for RIAs, family offices, and financial institutions, advising on over $80 billion in client assets. In this discussion, Aaron shares how Springtide’s mean reversion framework, disciplined research process, and client-first mindset have been refined through multiple market cycles—from pre-COVID volatility to today’s rapidly shifting macro environment.Key topics include:・How Springtide approaches manager research and due diligence, with a heavy emphasis on qualitative judgment, succession, and culture・Why mean reversion remains central to portfolio construction—and where the opportunity set looks most compelling today・The evolution of the OCIO model, rising client service expectations, and what RIAs truly need from outsourced partners・Springtide’s framework for private markets, including secondaries, venture capital, private credit, and niche real assets・The role of humility—in founders, portfolio managers, and investment teams—and how it shows up in long-term performanceAaron also reflects on nearly two decades of partnership with his co-founder, the lessons learned building a boutique investment firm, and how Springtide balances conviction with risk control in an increasingly competitive landscape.This episode is a must-listen for CIOs, manager research professionals, RIAs, and allocators seeking a clearer lens on conviction-driven investing—and what it truly means to earn a seat at the table.

We’re kicking off 2026 the same way many investors are setting their New Year’s resolutions: by going straight to the source.In our first episode of the new year, Dakota Live goes on site to SEI’s headquarters in Oaks, Pennsylvania to sit down with Ryan Hicke, CEO of SEI Investments (NASDAQ: SEIC).These on-location CEO episodes consistently generate the strongest engagement across our audience of allocators, asset managers, advisors, and institutional sales professionals—and this one delivers on every front.What This Episode Covers (and Why It Matters in 2026)As a publicly traded, global financial services firm operating at the intersection of asset management, technology, operations, and advice, SEI offers a unique lens on where the industry is headed. In this wide-ranging conversation, Ryan Hicke and his colleagues Michael Lane, Head of Asset Management and Sean Lawlor, Head of Strategic Growth Initiatives share how SEI is thinking about:Growth vs. Risk: Why SEI focuses on accelerating good outcomes rather than merely avoiding bad onesCulture as Strategy: How SEI’s open, meritocratic culture drives innovation and accountabilityPrivate Markets & Alternatives: What the future portfolio really looks like beyond the traditional 60/40Tokenization, AI, and Technology: Why SEI wants a “courtside seat” to emerging technologies instead of watching from the sidelinesStratos Wealth Acquisition: How integrating advice reshapes SEI’s long-term strategy across administration, asset management, and client outcomesPublic Company Discipline: Balancing quarterly earnings pressure with long-term shareholder value creationLeadership in a Changing Market: What it actually means to lead through complexity, regulation, and rapid industry changeThis is not a headline-driven discussion. It’s a candid look at how a public company CEO thinks about decision-making, capital allocation, talent, and culture when the stakes are real and the time horizon matters.A New Year Perspective from the C-SuiteWe close the episode with a New Year reflection—professional and personal—on leadership, judgment, balance, and what it means to build durable organizations in a world that rewards speed but punishes shortsightedness.If your 2026 resolution includes:Understanding how publicly traded investment firms think strategicallyGaining insight into where asset management, alternatives, and advice are convergingLearning how CEOs actually weigh growth, risk, and culture behind closed doorsThis episode is for you.

In this special On the Road episode, we travel to Baylor University in Waco, Texas, to record a live, on-campus conversation with some of the most thoughtful allocators and investment leaders in the institutional investment world.Hosted from Baylor’s campus, this episode brings together endowment leadership, OCIOs, asset managers, and students for a wide-ranging discussion on long-term investing, manager research, risk, character, and relationship-driven decision-making—the things that actually matter when capital is on the line.Joining the conversation:Dave Morehead, Chief Investment Officer, Baylor UniversityRenee Hanna, Managing Director of Investments, Baylor UniversityChris Dion, Co-Chief Investment Officer, BrockenbroughMichael Holmberg, Senior Portfolio Manager, Neuberger BermanTogether, they explore how real investment decisions are made—not in theory, but in practice.What this episode coversHow institutional investors think about risk, conviction, and portfolio constructionWhy relationships and trust are competitive advantages in manager selectionThe role of character in underwriting GPs, OCIOs, and long-term partnersEmerging managers vs. scale managers: where alpha really comes fromWhy Baylor has avoided private credit—and what that says about disciplineHow allocators collaborate with one another while still competingWhat “wearing risk” actually means inside an investment officeAdvice for students entering asset management, investing, and finance careersThe episode opens with personal travel stories—missed flights, first road trips, international misadventures—that set the tone for a broader theme: learning happens on the road, through experience, mistakes, and shared perspective. From there, the conversation moves deep into the realities of endowment management, OCIO partnerships, and strategic alignment between LPs and GPs.This recording is also part of an experiential learning initiative that brought Drexel University students to Baylor through a competitive writing contest, giving them firsthand exposure to institutional investing, allocator thinking, and professional dialogue in action.If you’re interested in:Institutional investingEndowments and foundationsManager research and due diligenceOCIO modelsPrivate markets and portfolio constructionTeaching finance through real-world experience…this episode offers a rare, candid look inside how thoughtful investors think, collaborate, and lead.Recorded live at Baylor University | Waco, Texas.Part of the On the Road series.

Scott Perry, Partner and Head of OCIO Portfolio Strategy at NEPC, shares his nearly two decades of experience in investment consulting. He explains how the OCIO model is evolving, emphasizing portfolio construction, liquidity management, and the importance of operational support. Scott discusses the competitive edge NEPC gains through rigorous research and strategic partnerships, particularly in private markets. He also touches on how relationships are critical in investment, drawing parallels between basketball and client management. Plus, he shares his favorite hobbies that keep him grounded.

In this week’s episode of Dakota Live, Robert Morier sits down with Jennifer Mink, President of Investment Performance Services (IPS). With IPS advising on approximately $70 billion in assets—98% of which are Taft-Hartley (Union) plans—this conversation offers a rare masterclass on how to navigate the unique ecosystem of union pensions. Jennifer takes us behind the curtain of IPS’s rigorous investment consulting practice, breaking down exactly how her team approaches manager research, due diligence, and the critical "finals" presentation. If you are an asset manager looking to work with the Taft-Hartley community, this episode is essential listening. Jennifer explains why understanding the "people behind the pension" is just as important as the performance numbers. We cover:The Taft-Hartley Landscape: Understanding the specific needs of Union plans and why Defined Benefit plans remain the "Gold Standard" in this space.The IPS Manager Research Process: How a manager goes from an initial email to an onsite visit, and finally, to the Investment Committee approved list.The "Finals" Pitch: Jennifer reveals what works (and what doesn't) in that critical (and timed) presentation—including a cautionary tale about knowing your audience (the "Wegmans story").Alternative Investments: The current appetite for Private Credit, the enduring role of Hedge Funds, and the specific ERISA fiduciary requirements managers must accept.Building Trust: Why "calling people back" is a competitive edge and how to build long-term relationships with trustees. Subscribe to the Dakota Live Podcast to stay ahead of the curve in institutional investing and investment sales. Whether you are focused onmanager research, mastering due diligenceprocesses, or navigating the complexities of Taft-Hartley pension funds, our interviews provide the inside track.  Join us as we unlock the strategies behind successfulasset allocation, explore the shift to private markets, and help you connect with the topinvestment consultants and decision-makers shaping the future of the industry.

In this episode of the Dakota Live! Podcast, host Robert Morier sits down with Paul Cavazos, Senior Vice President and Chief Investment Officer at American Beacon Advisors.Paul brings more than 25 years of experience managing institutional portfolios for major corporate plans—including Chrysler, Boeing, and DTE Energy—before joining American Beacon to lead their investment strategy, manager oversight, and OCIO business.Paul shares how those years as an asset owner shaped the way he evaluates investment managers today: his emphasis on disciplined oversight, quarterly underwriting, long-term partnership, and understanding the “why” behind performance—good or bad.He also discusses what he believes makes a truly effective sub-advisory relationship, and why transparency, consistency, and communication matter far more than flash.Join us as we explore:• How Paul approaches the CIO role across multiple vehicles—mutual funds, ETFs, CITs, and OCIO portfolios• What thoughtful manager research looks like when you’re meeting every quarter, not once a year• The tension between value and growth, and how he thinks about concentration risk today• The growing role of private markets and how American Beacon evaluates new opportunity sets• His views on global investing—from the U.S. to Europe to Asia—and what investors may be underestimating• The leadership lessons, mentors, and soft skills that shaped his career• The advice he gives young professionals on patience, preparation, and showing up fullyPaul’s perspective is both practical and generous—rooted in decades of real responsibility, committee work, governance, and decision-making under scrutiny.It’s a wide-ranging conversation that brings clarity to how a seasoned CIO thinks about risk, alignment, manager selection, and the evolving landscape of institutional investing.

In this episode of dakota live!, host Robert Morier sits down with Chrissie Pariso, Managing Partner of MPowered Capital, to discuss what it takes to identify, underwrite, and empower the next generation of investment managers. With over two decades of allocator experience—from leading Exelon’s Private Equity Manager Program to joining MPowered Capital alongside industry legend Marcia Page—Chrissie offers an insider’s perspective on manager selection, due diligence, and firm building in today’s complex private markets.From her early career in capital markets to her leadership at MPowered, Chrissie shares how emerging managers can position themselves for success, the importance of character and transparency in fund management, and how the Multiplier Program at MPowered helps first-time firm builders develop operational excellence, institutional credibility, and lasting impact.Whether you’re an allocator evaluating boutique funds, a GP raising capital for the first time, or an investor looking to understand the future of the emerging-manager ecosystem, this episode delivers invaluable lessons from one of the industry’s most thoughtful leaders.Key Topics:✅  The evolving role of emerging managers in private markets✅  How due diligence and character assessment drive investment decisions✅  MPowered Capital’s bespoke capital solutions and the Multiplier Program✅  Why smaller, undercapitalized firms often generate outsized alpha✅  The importance of mentorship, resilience, and values-based leadership in firm buildingFor Allocators:✅  Understand how institutional investors assess manager integrity and firm readiness✅  Learn where GP seeding and co-investment strategies fit within asset allocation models✅  Gain insight into the qualities that distinguish managers who thrive in today’s fundraising environmentFor Asset Managers:✅  Discover how to tell your firm’s story and build credibility with allocators✅  Learn how to manage your firm’s first 180 days with institutional discipline✅  Hear how MPowered helps emerging GPs navigate operational, strategic, and fundraising challengesTune in to learn how experienced allocator Chrissie Pariso and MPowered Capital are redefining the future of emerging managers, private equity, and institutional due diligence through values-based investing and innovative capital solutions.

In this episode, host Robert Morier sits down with Kyle Marmelstein, Investment Director at Crewcial Partners, live from Newport, Rhode Island. With over 15 years in institutional consulting and manager research, Kyle shares insights into building lasting partnerships, managing risk through market cycles, and why empathy and listening are essential tools in the allocator’s toolkit. From the lessons of 2008 to today’s private equity dislocations, Kyle offers a grounded view of what it means to invest with conviction, humility, and purpose. Crewcial Partners is an independent investment advisory firm based in New York, serving endowments, foundations, and mission-driven institutions across the U.S. With over 40 years of experience, the firm designs customized portfolios that align mission with performance, grounded in rigorous research, transparent communication, and long-term partnership. Key Insights for AllocatorsHybrid OCIO models — Kyle explains how Crewcial Partners bridges advisory and execution, offering clients flexibility while maintaining investment discipline.Private equity secondaries — Learn how current market dislocations are creating opportunity for smaller endowments and foundations to enter private markets more efficiently.People and process alignment — Discover why trust, transparency, and culture drive Crewcial’s due diligence and client partnerships more than any model or metric. Key Takeaways for Asset ManagersPreparation and empathy win the meeting — Kyle emphasizes the importance of knowing allocators’ pain points and coming prepared to connect, not just to sell.Tell your story honestly — Authentic storytelling, humility, and transparency—especially about mistakes—build trust faster than performance charts ever will.Understand the human side of due diligence — Hear how allocators like Kyle “build the mosaic” over time, testing conviction and consistency through multiple meetings. Listen now to hear how one allocator’s journey from the 2008 crisis to today’s dynamic markets reveals enduring truths about partnership, patience, and purpose in investing.

Recorded from the beautiful Castle Hill Inn in Newport, Rhode Island, this special episode of the Dakota Live! Podcast captures the energy and insights of the Havener Capital Partners StorySales Accelerator Capstone Event.In this conversation, host Robert Morier sits down with Evan Butler, Investment Analyst at CW Advisors, to explore the art and science of manager research and due diligence from the perspective of both the Chief Investment Officer and the analyst. Evan shares how CW Advisors identifies and underwrites top-tier managers across asset classes, balancing institutional rigor with a boutique approach to client service.Evan shares his journey from studying marketing at Bryant University to becoming a key member of CW’s alternative investment research team—illustrating how data analytics, storytelling, and relationship-building converge in the modern investment landscape.From sourcing niche managers and structuring bespoke client portfolios to managing the delicate balance between performance and partnership, Evan offers an authentic look into the relationship between idea generation, investment committee collaboration, and client education.Recorded amid the ocean air of Newport, this conversation dives deep into:• The evolving relationship between CIOs and analysts in modern wealth management• The discipline behind manager sourcing and due diligence• How CW Advisors balances accessibility with institutional-quality investments• The mentorship and decision-making process that defines successful investment teamsThis episode reminds us that great investing—like great conversation—is built on curiosity, collaboration, and trust.

What’s changed—and what still matters—in the OCIO model? In this episode of the Dakota Live! Podcast, host Robert Morier sits down with Adam Lerner, Senior Director of Investments at Prime Buchholz, to unpack how a research-driven OCIO and consulting platform evaluates managers, constructs portfolios, and serves nonprofit clients across endowments, foundations, healthcare systems, and more. Founded in 1988, Prime Buchholz is one of the industry’s leading independent investment consulting firms, advising on over $80 billion in assets for a diverse range of clients, including colleges and universities, foundations, endowments, hospitals, pension plans, and other long-term investors.We dig into sourcing, underwriting, and ongoing due diligence; active vs. passive in public equities; portfolio concentration; operational red flags; and how client service and technology shape today’s OCIO experience.In this conversation:- The OCIO landscape and Prime Buchholz’s client mix (education, foundations, healthcare) and footprint from Portsmouth (NH), Boston, and Atlanta. - Research philosophy: why qualitative conviction drives the “A-list,” and how holdings-based questioning tests process discipline. - Common diligence pitfalls: process drift, team turnover (culture tells), and capacity creep—especially in less-liquid segments. - Balancing quant screens with judgment (including niche screens like risk-aware 130/30) and aligning manager roles inside the total portfolio. - Technology’s role: the Prime Plus portal for scenarioing managers, tracking characteristics, and improving meeting-to-meeting clarity with committees. - Endowment model realities: liquidity, governance, and mission-aligned investing—what’s evolving and what endures. Whether you’re considering an OCIO platform, running due diligence, or managing client relationships, this conversation is a reminder that consistency, transparency, and conviction remain the hallmarks of enduring investment leadership.