In this episode of the Wealth Management Invest Podcast, host David Bodamer sits down with Robert Picard, managing director and head of alternative investments at Hightower, to unravel the shifting dynamics of private markets and their role in contemporary investment portfolios. With over 34 years of experience, Robert shares insights into why billionaires and university endowments diverge from the traditional 60/40 allocation model and how individual investors can replicate their success in private markets. 

David and Robert discuss:

- The evolution of private market access for individual investors
- The strategic role of a 20% private market allocation
- The emergence of private credit as a popular asset class
- The rise of evergreen funds and their democratizing effect on access to alternative i-investments
- And more

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Robert Picard:

Hightower: https://hightoweradvisors.com/index.html 
LinkedIn: Robert Picard: https://www.linkedin.com/in/robpicard/ 

About Our Guest:

Robert Picard led the creation of the Alternative Investment Platform at Hightower while curating investment opportunities through research and due diligence. Prior to joining Hightower, he was instrumental in building four multi-billion dollar alternative investment platforms at The Carlyle Group/Rock Creek, Optima Fund Management, RBC Capital Markets, and State Street/InfraHedge. Most recently, Mr. Picard served as the Head of Alternative Investments at First Republic Private Wealth Management.


Wealth Management Invest: Unpacking Hightower’s Approach to Private Markets with Robert Picard

Join David Bodamer as he sits down with Stephanie Drescher, Apollo's chief client and product development officer, to unravel the potential of alternative investments for wealth advisors.

David and Stephanie explore why Apollo is confident in hitting $150 billion in assets within the wealth channel and why traditional portfolios fall short without private market exposure. They break down the innovations making private investments more accessible for advisors and their clients.

David and Stephanie discuss:

- The gap in private market allocations between institutions and individuals
- Overcoming barriers to alternatives with innovative solutions
- Apollo's strategic focus on global wealth and custom-tailored investment strategies
- How Apollo's wealth team has grown and evolved to better serve advisors
- Insights into Apollo's third-party alts partnerships
- A global shift in perception of risk in public vs. private markets
- The importance of manager selection and transparency in private investments
- And more

Connect with David Bodamer:

david.bodamer@informa.com 
Apollo: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect with Stephanie Drescher:

Apollo - https://www.apollo.com/homepage 
LinkedIn: Stephanie Drescher: https://www.linkedin.com/in/stephanie-drescher-apollo/ 

About Our Guest:

Stephanie Drescher is Partner and Chief Client and Product Development Officer at Apollo, and a member of the Firm’s Management Committee. She oversees the Client and Product Solutions Group (CPS), which includes Institutional Client & Product Solutions (ICPS) and Global Wealth Management Solutions (GWMS), which seeks to expand Apollo’s investment offerings to an increasingly broad base of individual investors through a variety of global wealth management channels. Stephanie is also Co-Chair of Apollo Women Empower (AWE), Apollo’s women’s network. Prior to joining Apollo in 2004, Stephanie was with JP Morgan working primarily in its Alternative Investment Group.

Wealth Management Invest: Apollo’s Stephanie Drescher on Bringing Alts to the Wealth Channel

With interest rates returning to more normalized levels, municipal bond yields are drawing renewed attention—and investors are looking for time-tested strategies to navigate this evolving landscape. This week on Basis Points, Kevin Flanagan is joined by Rick Harper to introduce the WisdomTree Core Laddered Municipal Bond Fund (WTMU) and the WisdomTree High Income Laddered Municipal Bond Fund (WTMY), combining the consistency of laddered bond strategies with the active credit expertise of Insight Investment Management.


Basis point: 1/100th of 1 percent.
Bloomberg Municipal Bond Index: Measures the performance of the Bloomberg U.S. Municipal bond market.
Obligor: refers to a bond issuer who is contractually bound to make all principal repayments and interest payments on outstanding debt.


Introducing a Time-Tested Solution for Municipals

Join David Bodamer, Editorial Director at WealthManagement.com, and his guest, Brad Walker, Co-President at CAIS, as they delve into the transformative landscape of alternative investments. 

Discover why independent wealth managers and RIAs are increasingly incorporating alts into client portfolios and the innovative trends making this possible.

Highlights from this episode include:

- The growth and evolution of the CAIS platform [00:00:37]
- Shifts in advisor strategies towards diversifying alternative investments [00:03:18]
- The importance of technology in streamlining alt investments and management [00:12:55]
- How CAIS is making alternative investments accessible to a broader advisor base [00:23:40]
- And more

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Brad Walker:

CAIS: https://www.caisgroup.com/ 
LinkedIn: Brad Walker: https://www.linkedin.com/in/brad-walker-3142402/ 

About Our Guest:

Brad Walker is Co-President of CAIS, where he drives the firm’s client experience and growth initiatives, ensuring independent financial advisors have the access, education, and innovation they need to adapt to the evolving world of alternative investments. He is committed to transforming how the independent wealth ecosystem engages with alternatives, helping advisors deliver greater value to their clients. Under his leadership, CAIS continues to enhance its platform, deepen industry partnerships, and set new standards for access, efficiency, and transparency in the space. A member of both the Executive Committee and Operating Committee, Brad plays a central role in shaping CAIS’s vision, growth, and impact on the independent wealth ecosystem.


CAIS’s Brad Walker on Making Alternative Investments Accessible

The postponement of sky high trade tariffs between the US and China has brought relief to financial markets.  A broad de-escalation of the Trump tariff shock is anticipated, despite lack of clarity on future levels.

Today we will review the latest on global trade, including prospects for an eventual US/China trade deal, as well as the real work impacts. And we will outline our tactical asset allocation response.

Presented by Aymeric Forest CFA, Head of Investment Strategy, Seamus Lyons CFA, Senior Investment Manager and Thomas Vogl, Portfolio Manager. Hosted by Lorna Denny, Investment Specialist.

This podcast is intended for professional investors, and must not be shared with a non-professional audience.

Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.

This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date.

All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.

Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment. Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding.

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ

In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.

Panel Podcast - Have we seen the worst?

In this episode of the Wealth Management Invest Podcast, host David Bodamer sits down with Kristen Mirabella, head of partnerships at Eaglebrook Advisors, to discuss the evolving role of cryptocurrency in wealth management.

Eaglebrook is a digital asset platform that allows advisors to invest directly in crypto through separately managed accounts. 

Kristen talks about Eaglebrook’s compliance-first mindset and how in-kind transfers and tax-efficient strategies are helping advisors meet growing client demand for digital assets.

Key highlights include:

- Enabling direct investment in crypto SMAs with Eagle Brook 
- Navigating the process of in-kind transfers 
- Tax loss harvesting benefits of crypto SMAs 
- Integrating crypto into client portfolios 
- And more

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Kristen Mirabella:

Eaglebrook - https://eaglebrook.com/ 
LinkedIn: Kristen Mirabella: https://bit.ly/42t4fuE 

Wealth Management Invest: Demystifying Crypto for Financial Advisors with Kristen Mirabella

In this episode of the Wealth Management Invest Podcast, host David Bodamer sits down with Don Calcagni, the chief investment officer of Mercer Advisors, to explore how Mercer attempts to align investment decisions with financial goals. David and Don dive into defining clear investment objectives that align with clients’ financial aspirations, the importance of moving beyond 60/40 asset allocations, and understanding the psychological hurdles investors face. 

They discuss the latest investment vehicles, transforming strategies, the ongoing active versus passive management debate, and the nuances of private markets.

Connect With David Bodamer:

david.bodamer@informa.com   
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Don Calcagni:

Mercer Advisors: https://www.merceradvisors.com/ 
LinkedIn: Don Calcagni: https://www.linkedin.com/in/donald-calcagni-8104b546/ 

About Our Guest:

As Chief Investment Officer, Don is responsible for setting the strategic direction of the firm’s investment offering, chairing the firm's investment committee, and the prudent stewardship of over $70 billion in assets under management. As a member of the executive leadership team, he also participates in M&A due diligence, oversees investment integration for new acquisitions, and provides ongoing advice regarding the firm's overall strategic direction to the Board of Directors, President, and Chief Executive Officer.

#podcast #invest #education #WealthManagement

Wealth Management Invest: Rethinking Portfolio Diversification with Don Calcagni

In this episode of the Wealth Management Invest Podcast, host David Bodamer interviews Tom Cohn, partner and chief solutions officer at Cerity Partners. They explore the significance of private markets in client portfolios and discuss asset allocation strategies. 

Tom shares insights on the evolution of private markets, the rise of evergreen structures and the impact of macroeconomic trends on investment decisions.

They discuss:

- Key considerations for client portfolios, including illiquidity risk and asset class diversification
- The growing importance of data centers and AI-driven infrastructure investments
- How secondaries provide diversification and reduce risk exposure
- The shift of credit opportunities from banking to asset management 

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Tom Cohn:

LinkedIn: Tom Cohn: https://www.linkedin.com/in/thomas-cohn-cfa-8917b927/ 
LinkedIn: Cerity Partners: https://www.linkedin.com/company/cerity-partners/ 
Cerity Partners: https://ceritypartners.com/ 

Resources:

Listen to the Wealth Management Invest Podcast on WealthManagement.com: https://bit.ly/3EHpeRh 
Listen and Subscribe to the Wealth Management Invest Podcast on Apple Podcasts: https://bit.ly/4m1s30k 
Listen and Subscribe to the Wealth Management Invest Podcast on Spotify: https://bit.ly/4d0rD67 

Wealth Management Invest: Cerity’s Tom Cohn on Private Market Allocations

La settimana si è chiusa in positivo per i mercati azionari globali, con rialzi guidati da small cap statunitensi, Europa e Cina. In evidenza Intel: secondo indiscrezioni, l’amministrazione Trump sarebbe pronta a entrare nel capitale del colosso dei semiconduttori, a sostegno dei piani per lo sviluppo di un polo manifatturiero in Ohio. Sul piano geopolitico, il colloquio fra Trump e Putin ha riacceso le speranze di un cessate il fuoco e di un possibile accordo di pace.

Sul fronte macroeconomico, l’inflazione statunitense resta al centro dell’attenzione. Se il dato sui prezzi al consumo è risultato migliore delle attese, a sorprendere è stato l’indice dei prezzi alla produzione, balzato dello 0,9% mensile contro lo 0,2% previsto. Un aumento legato alle tariffe, che potrebbe tradursi in pressioni sui margini aziendali o in un rialzo dell’inflazione al consumo. In questo contesto, i dati sulle vendite al dettaglio e le trimestrali di colossi come Walmart, Target e Home Depot offriranno indicazioni cruciali sulla tenuta dei consumi. Walmart, in particolare, arriva all’appuntamento con un P/E di 36 volte, per la prima volta superiore a quello di Amazon.

Le valutazioni di mercato restano elevate: l’S&P 500 tratta con multipli superiori alla media storica, ma ancora inferiori dell’8% rispetto ai picchi del 2000. Opportunità emergono però in settori penalizzati, come l’healthcare, e nelle small cap value, a sconto rispetto alle medie storiche. In Cina, l’azionario ha guadagnato il 32% nell’ultimo anno, raggiungendo i massimi decennali.

Il simposio di Jackson Hole sarà ora decisivo per chiarire le prossime mosse della Fed, con i mercati che scontano già un taglio dei tassi a settembre. In uno scenario incerto, la selettività negli investimenti resta la chiave per affrontare i futuri scossoni di mercato.

Difensivi come áncora di stabilità per i portafogli

In this episode of Wealth Management Invest, host David Bodamer talks with Jonathan McEvoy, managing director, Investor Relations and head of Private Wealth Secondaries Solutions Distribution at Coller Capital, to explore how secondaries provide an additional access point to private markets. Jonathan shares the growth story of private equity and private credit secondaries, their benefits to advisors and clients and how Coller Capital uses semiliquid funds to deliver its strategies. 

Key Points :

- The evolution of the secondary market from niche beginnings to a $160 billion-plus annual transaction space
- How secondaries provide liquidity, diversification and reduced risk through seasoned portfolios
- The advantages of semiliquid fund structures for private wealth investors
- The growing importance of education for advisors and clients when approaching secondaries

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Jonathan McEvoy:

Website: Coller Capital - https://www.collercapital.com/ 
LinkedIn: Jonathan McEvoy - https://www.linkedin.com/in/jonathanmcevoy/ 

Resources:

Listen to the Wealth Management Invest Podcast on WealthManagement.com: https://bit.ly/3EHpeRh 
Listen and Subscribe to the Wealth Management Invest Podcast on Apple Podcasts: https://bit.ly/4m1s30k 
Listen and Subscribe to the Wealth Management Invest Podcast on Spotify: https://bit.ly/4d0rD67 

Wealth Management Invest: The Role of Secondary Markets in Private Wealth with Coller Capital’s Jonathan McEvoy

Benvenuti a Navigare i Mercati, il podcast di Pharus che ogni settimana vi aggiorna in pochi minuti sui mercati finanziari europei, americani ed emergenti, con particolare attenzione alla politica monetaria, ai tassi di interesse, ad azioni e obbligazioni da tenere monitorate. 
Il tutto per fornire indicazioni su come investire oggi, ma con obiettivi chiari e specifici che portino a risultati concreti nel medio e lungo termine.

This podcast is intended for professional investors, and must not be shared with a non-professional audience. 

Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.

This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date.

All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.
Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment.  Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding. 

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ

In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.

Macro commentary and expert-led discussions highlight what’s happening now in fixed income investing, so you can prepare for what’s next.

Investing involves risks including loss of principal. This material represents the opinions of the participants at a specific time and is not intended to forecast future events or guarantee future results and should not be relied upon as investment advice. Kevin Flanagan is a registered rep of Foreside Fund Services, LLC.

New tracks tagged #AssetAllocation