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