Dec 26 2024 21 mins 5
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
