Welcome to the 19th episode of the Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream. In the latest episode of the Alts Pulse, we were live from iCapital Connect. AlphaCore Wealth Advisory CEO & Founder Dick Pfister and I had a nuanced discussion about the intersection of wealth management, technology, and private markets.Dick is a pioneer of providing the wealth channel with access to private markets. He’s also a serial entrepreneur in both wealth management and private markets, bringing 25 years of experience across wealth advisory and financial services to bear as he builds AlphaCore. In 2015, he founded AlphaCore, which has become a leading wealth advisory firm. He serves as AlphaCore’s CEO and is a managing member of the Investment Committee. As a partner at Altegris, Dick democratized access to elite asset managers previously not available to the mainstream investor. In 2010, Dick and his partners sold Altegris to a Fortune 500 company.Dick and I had a fascinating discussion about the evolution of wealth management. We covered:How Dick’s background in trading and private markets informed the creation of AlphaCore Wealth Advisory.Lessons learned from pioneering alts access with Altegris.What’s in a name, AlphaCore edition.Why there’s “alpha” beyond investing in wealth management.How AlphaCore leverages technology to enhance the client experience and streamline workflows for advisors.How the trend of increasing centralization of the CIO function is changing how advisors allocate to private markets.Thanks Dick for a great conversation tying together how private markets and private wealth are increasingly interlinked and woven into a wealth client’s financial life.Show Notes00:00 Welcome00:47 Dick’s Trading Roots and Altegris02:05 AlphaCore Origin Story03:55 Alpha Beyond Investing05:50 Private Markets and Liquidity07:39 Tech Workflows and Proposals09:47 AI and Risk Factor Tools11:03 Risk Buckets in Alternatives12:42 Advisor Education and Holding Power13:56 Growth Through Acquisitions17:18 Differentiating in Private Markets Today20:49 Open Architecture vs Centralization22:15 Scaling Models and Venture Access26:05 Next Frontier of Education and Content27:56 Clients, Social Media, and Human Advice29:05 AI Threats and Opportunities29:39 Closing Thanks

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related