Welcome back to the Alt Goes Mainstream podcast.Today’s episode features the architects behind one of the industry’s faster growing wealth management platforms, NewEdge.We welcome NewEdge CEO, Managing Partner, and Co-Founder Rob Sechan and NewEdge CIO Cameron Dawson.Both Rob and Cameron have a wealth of experience in both wealth management and private markets. Rob has over two decades of experience in financial services, beginning his career as a financial advisor at Morgan Stanley, before running a family office business as a Managing Director at Lehman Brothers. He later joined UBS as a Managing Director and Head of the Intellectual Capital Subcommittee, where he helped guide the firm’s tactical investment process for wealthy families and institutional clients before founding NewEdge in 2020. Cameron was the Chief Market Strategist at Fieldpoint Private Securities and a Senior Equity Analyst at Bank of America before joining NewEdge as CIO.Since its founding in 2020, NewEdge has grown to over $44B AUM, supports over 300 financial advisors. NewEdge has built a platform that combines wealth management, technology, custody, research, and alternatives capabilities. They’ve built out a sophisticated private markets investment practice, which we unpacked in detail on today’s podcast.Rob, Cameron, and I had a fascinating discussion. We covered:The transformation in wealth management and the approach that NewEdge has taken in the independent wealth channel.The evolution of Super RIAs.The role of alternatives in wealth management. Navigating client psyche and market cycles.The importance of due diligence and why fee discipline matters in private markets.The importance of liquidity in a client's portfolio.Why portfolio construction is key in the wealth channel.Thanks Rob and Cameron for coming on the show to share your thoughtful views on wealth management and private markets.Show Notes00:00 Introduction and Ultimus Sponsor Message01:21 Welcome to the Podcast02:03 Introducing NewEdge Wealth and the Guests02:20 Rob Sechan's Journey in Wealth Management07:46 Cameron Dawson's Perspective on NewEdge11:45 The Role of Alternatives in Wealth Management20:09 The Evolution of Super RIAs24:10 Investment Strategies and Client Focus31:31 Balancing Proactivity and Client Sensitivity31:56 The Importance of Transparency and Differentiation32:30 Navigating Client Psyche and Market Cycles33:33 The Role of Alternatives in Portfolios36:05 Private Equity Opportunities and Challenges38:00 Fee Discipline and Alpha Generation51:57 Engaging with Wealth Channels56:52 Favorite Alternative Investments59:27 Conclusion and Final ThoughtsA word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency. To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products. Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.

Spencer Lake from 13books Capital discusses challenges in private markets, standardization, and tech in finance. Toby Bailey shares Canoe's data management approach. Reszo Szabo talks about Illuminate Financial's focus and generational changes in private markets.

Michael Batnick, from Ritholtz Wealth Management, shares insights on private markets, wealth management journey, risk assessment, and challenges with adopting alternative products. The discussion covers education, networking, and the evolution of the industry, emphasizing long-term investing, fundamentals, and complexities faced by wealth management firms.

Experienced private equity professional Jim Strang discusses the evolution of private markets and the future for funds and LPs. Topics include the challenges of traditional asset managers vs. alternative asset managers, importance of partnerships, and the impact of AI and technology in private equity.

Lawrence Calcano, CEO of iCapital, and Robert Picard, Hightower Advisors MD, discuss operational challenges in private markets. They explore technology's impact on private markets, investment opportunities like community banks and AI, and the influence of private credit on economic development. The conversation emphasizes the importance of caution and diligence in navigating private market investments.

Welcome back to the Alt Goes Mainstream podcast.Today’s podcast is a special show with 3i Members co-founder Mark Gerson.Alt Goes Mainstream’s first sponsor is 3i Members, an investing network built on community, collaboration and capital that was co-founded by Mark Gerson, Billy Libby, and Teddy Gold. 3i Members is a global deal network for accomplished private investors. Members uncover, share, and diligence high-quality investment opportunities in private markets. The network offers more than just investment opportunities, providing access to expert databases, legal services, international events and retreats, masterclasses, asset allocation workshops, and other resources.Mark is a serial entrepreneur who has built a number of communities that have revolved around some form of crowdsourcing.In addition to founding 3i Members, Mark founded Gerson Lehman Group, a knowledge brokerage and primary research firm, that figured out how to use the power of community to serve its customers. He also founded United Hatzalah, a crowd-sourced system of volunteer first response that enables Israelis to be treated within the moments separating life from death following any medical trauma. He also co-founded and is the Chairman of African Mission Healthcare, which enables Christian medical missionaries to provide clinical care, training, and medical infrastructure for people throughout Africa.From co-founding United Hatzalah of Israel to building a unique community in the private markets space with 3i Members, Mark shares his experiences and the profound impact of community and crowdsourcing in both philanthropy and private markets. The episode dives into the intricacies of building capable, engaged communities, the conceptual differences between a network and a community, and the unique approach of 3i Members in creating a collaborative investing landscape. We discussed:Mark’s journey and the significance of pro-social behaviors and intellectual curiosity among investors. How 3i Members facilitates a space for private investors to share, scrutinize, and engage with high-quality investment opportunities. The importance of asking the right questions in investment. ROI-based philanthropyThe value of non-transactional relationships within communities.Thanks Mark for coming on the show to share your stories and wisdom.Chapters00:00 Welcome to the Mainstream: The Alt Goes Mainstream Podcast Intro00:42 Introducing 3i Members: A New Era of Investing01:11 Mark Gerson's Journey: Building Communities and Crowdsourcing Success02:59 The Power of Community in Crowdsourced First Response07:59 3i Members: Crowdsourcing in the Investment World09:44 The Art of Building and Maintaining Quality Networks12:02 The Philosophy of No-Selling in Building Trust and Community14:59 Engineering Serendipity: Fostering Organic Growth and Engagement19:59 Investment Strategies and Learning from the 3i Community24:40 The Future of Investing with 3i Members34:51 ROI in Philanthropy: A New Approach to Giving40:09 Closing Thoughts

Marc Rubinstein, an investment pro, shares insights on evaluating businesses, private credit risks, and the evolution of asset classes in private markets. Topics include the growth of private credit, adapting to market changes, media's influence on finance, democratization of info and AI impact on financial markets, and distinctions between investment firms and market trends.

In this conversation, Braughm Ricke, Founder and CEO of Aduro Advisors, shares insights from his journey in fund administration. He discusses his vision for supporting emerging managers and the growth of the micro VC landscape. Braughm delves into how he's integrated innovative technology to enhance client experiences and explores the evolving role of AI in streamlining operations. He also emphasizes the importance of trust in the LP-manager relationship and the balance between service models for both small and large funds.

Welcome to the 9th episode of 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, who as the leader of a platform that is responsible for the majority of individual and advisor-led investment flows into the alts space, has his finger on the pulse of what’s happening in private markets.In today’s episode, Lawrence and I welcome a special guest. Arax Investment Partners CEO Haig Ariyan, a wealth management industry veteran, joins us to discuss the evolution of wealth management and the role that alts can and should play in wealth client portfolios. Together with RedBird Capital, an $8.6 billion AUM private equity firm focused on financial services and sports and media, Haig and Arax are partnering with wealth and asset management firms and teams to build a differentiated platform that takes lessons learned and deep experience from Haig's background running wealth management businesses. Following its recent acquisition of $9B AUM U.S. Capital Wealth Advisors, Arax now has over $16.5B in AUM and $13B in regulatory AUM.On this episode, Lawrence, Haig, and I had a fascinating and lively discussion. We covered a number of topics, including:The importance of independent and hybrid platforms in wealth management.How to build culture at a wealth management firm.How advisors can utilize alternative investments to benefit their clients.How the industry can collaborate to enhance client outcomes and ensure informed investment decisions.How innovative fund structures could change the landscape of private markets.Thanks Lawrence and Haig for a great episode … looking forward to next month’s conversation!

Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with a fintech founder who has scaled one of the larger private markets investing platforms for individual investors.Michael Weisz is the Founder and CEO of Yieldstreet, a leading private markets investing platform, with more than 450K members and $3.9B invested (as of October 2023). An award-winning entrepreneur, he co-founded Yieldstreet in 2015 with the ambition to provide individual investors with access to curated private market assets typically reserved for institutions. As CEO, Michael leads Yieldstreet’s strategic vision to make alternatives a fundamental piece of investor portfolios.Before Yieldstreet, Michael held a variety of positions across the specialty finance spectrum, including founding Soli Capital. Previously, Michael was Vice President at a New York-based credit opportunities hedge fund with $1.2B under management.Michael and I had a fascinating conversation about the evolution of private markets and how to deliver investment opportunities directly to consumers. We discussed the business evolution of Yieldstreet, how they work with both individuals and advisors, and what he thinks is important when it comes to providing investors with access to private markets.Thanks Michael for coming on the Alt Goes Mainstream podcast to share your thoughtful views on private markets.