Listen in as David Bodamer sits down with Karen Veraa, Head of iShares US Fixed Income Strategy, to discuss fixed-income ETFs. Karen shares insight on navigating the current market complexities, from managing inflation impacts to exploring strategic investment avenues.

Karen focuses on:

• The current state and future prospects of fixed-income markets
• Insights into fixed-income ETFs and their role in today’s investment strategies
• The concept of bond laddering and its benefits for investors
• Navigating market expectations and the role of the Federal Reserve
• And more

Connect With Karen Veraa:

• LinkedIn: Karen Veraa
• BlackRock

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Karen Veraa, CFA, is a Fixed Income Product Strategist within BlackRock’s Global Fixed Income Group focusing on iShares fixed income ETFs. She concentrates on supporting iShares clients, generating content on fixed income markets and ETFs, developing new fixed income iShares ETF strategies, and partnering with the iShares team on product delivery. She writes about fixed income ETFs and trends in that sector.

The majority of Lawrence’s career has focused on the meeting point of finance and technology. At Goldman, Sachs & Co., where he worked for 17 years, he was a partner & managing director, most recently serving as the co-head of the Global Technology Banking Group (part of the Investment Banking Division), focusing on all aspects of technology including the internet & e-commerce, software, services & hardware. He has also worked as director of various digital & e-commerce businesses, as well as a series of acquisition vehicles.

Listen in as David Bodamer sits down with Lawrence Calcano, Chairman and CEO of iCapital, to explore the world of alternative investments and their role in modern portfolio strategies. They unravel the complexities of the alt space, examine recent developments at iCapital, and discuss how advisors are integrating these assets into their offerings for a more diversified investment approach.

Lawrence focuses on:

• The importance of education in the early adoption phase of alternative investments.
• How alternatives can enhance portfolio diversification and performance.
• How innovative fund structures make alternative investments more accessible.
• The role of technology in simplifying the investment process in alternative assets.
• And more

Connect With Lawrence Calcano:

• LinkedIn: Lawrence Calcano
• iCapital

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Lawrence is the Chairman and CEO of iCapital. He began advising and working with iCapital shortly after its 2013 founding, leading key strategic and business development initiatives, before joining full-time as CEO in early 2014. Since then, he has led the rapid growth – both organic and through acquisition – of iCapital, building it into a leading global Fintech company.

The majority of Lawrence’s career has focused on the meeting point of finance and technology. At Goldman, Sachs & Co., where he worked for 17 years, he was a partner & managing director, most recently serving as the co-head of the Global Technology Banking Group (part of the Investment Banking Division), focusing on all aspects of technology including the internet & e-commerce, software, services & hardware. He has also worked as director of various digital & e-commerce businesses, as well as a series of acquisition vehicles.

WealthManagement.com’s David Bodamer is joined by Tony Davidow, Senior Alternatives Investment Strategist with Franklin Templeton Institute.  With over 35 years in the industry, Tony shares insights on the increasing accessibility of alternative strategies and the role of private credit, private equity, and real estate in diversified portfolios. He emphasizes the importance of education for advisors in alternative investments, the need for operational efficiency, and working with institutional quality managers to navigate this complex yet rewarding investment space.

Tony focuses on:

• How interval and tender offer funds have revolutionized access to alternative investments for a broader range of investors
• The significance of diversification in the 60/40 portfolio strategy and the need for alternative investments in today’s market environment
• How private equity, private credit, and private real estate hedge against market risks and provide enhanced portfolio diversification
• Why the institutional quality of asset managers is crucial in ensuring successful investments in alternative asset classes
• And more

Connect With Tony Davidow:

• LinkedIn: Tony Davidow
• Franklin Templeton
• Knowledge Hub | Alternatives by FT

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

As an investment strategist for the Franklin Templeton Institute, Tony Davidow is responsible for developing and delivering the Franklin Templeton Institute’s insights on the use of alternative investments through independent research, participating in industry conferences, and webinars, and engaging directly with key partners and clients. Prior to his current role, Mr. Davidow held senior leadership roles with Morgan Stanley, Guggenheim and Schwab among other firms. Davidow began his career working for a New York-based Family Office and has worked directly with many institutions and ultra-high-net-worth families over the years. He is a frequent writer and speaker with deep expertise in the use of alternative investments, asset allocation, and portfolio construction, as well as goals-based investing. 

Mr. Davidow received the prestigious Investments & Wealth Institute Wealth Management Impact Award in 2020 for his contributions to the wealth management industry; and was awarded the Stephen L. Kessler writing award in 2017, and honorable distinction in 2015.

Disclosure:

This material reflects the analysis and opinions of the speakers as of March 4, 2024 and may differ from the opinions of portfolio managers, investment teams or platforms at Franklin Templeton. It is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice.

The views expressed are those of the speakers and the comments, opinions and analyses are rendered as of the date of this podcast and may change without notice. The information provided in this material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, security or strategy. Statements of fact are from sources considered reliable, but no representation or warranty is made as to their completeness or accuracy. 

What Are the Risks?

All investments involve risks, including possible loss of principal. The value of investments can go down as well as up, and investors may not get back the full amount invested. 

Investments in many alternative investment strategies are complex and speculative, entail significant risk and should not be considered a complete investment program. Depending on the product invested in, an investment in alternative strategies may provide for only limited liquidity and is suitable only for persons who can afford to lose the entire amount of their investment. An investment strategy focused primarily on privately held companies presents certain challenges and involves incremental risks as opposed to investments in public companies, such as dealing with the lack of available information about these companies as well as their general lack of liquidity. Diversification does not guarantee a profit or protect against a loss. 

Risks of investing in real estate investments include but are not limited to fluctuations in lease occupancy rates and operating expenses, variations in rental schedules, which in turn may be adversely affected by local, state, national or international economic conditions. Such conditions may be impacted by the supply and demand for real estate properties, zoning laws, rent control laws, real property taxes, the availability and costs of financing, and environmental laws. Furthermore, investments in real estate are also impacted by market disruptions caused by regional concerns, political upheaval, sovereign debt crises, and uninsured losses (generally from catastrophic events such as earthquakes, floods and wars). Investments in real estate related securities, such as asset-backed or mortgage-backed securities are subject to prepayment and extension risks.

An investment in private securities (such as private equity or private credit) or vehicles which invest in them, should be viewed as illiquid and may require a long-term commitment with no certainty of return. The value of and return on such investments will vary due to, among other things, changes in market rates of interest, general economic conditions, economic conditions in particular industries, the condition of financial markets and the financial condition of the issuers of the investments. There also can be no assurance that companies will list their securities on a securities exchange, as such, the lack of an established, liquid secondary market for some investments may have an adverse effect on the market value of those investments and on an investor’s ability to dispose of them at a favorable time or price. Past performance does not guarantee future results.

Data from third party sources may have been used in the preparation of this material and Franklin Templeton (“FT”) has not independently verified, validated or audited such data. FT accepts no liability whatsoever for any loss arising from use of this information and reliance upon the comments, opinions and analyses in the material is at the sole discretion of the user.

WealthManagement.com’s David Bodamer sits down with Aaron Filbeck, who leads UniFi by CAIA, to delve into how the CAIA association contributes to the education surrounding alternative investments. They explore the recent overhaul of the CAIA’s core program, designed to equip industry experts with a thorough grasp of alternative investment approaches and their role in asset allocation. 

Aaron focuses on:

• How CAIA is adapting courses for modern evolution within the financial space
• What obstacles did CAIA face in developing its new courses
• How has the accessibility of alternative strategies and asset types been influenced by other factors
• What is the overarching mission of CAIA in terms of providing education and aiding individuals in making informed portfolio decisions
• And more

Connect With Aaron Filbeck:

• LinkedIn: Aaron Filbeck
• UniFi by CAIA

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP oversees UniFi by CAIA, a learning platform dedicated to educating the private wealth management industry on alternative investments. He was previously responsible for leading and implementing the CAIA Association’s content agenda, thought leadership initiatives, and content development for the CAIA Charter Program.

Innovations in product development have increased access to private markets for financial advisors and their clients. Steve Brennan, managing director and head of Private Wealth Solutions at Hamilton Lane, joined David Bodamer to discuss the state of private investments and Hamilton Lane’s path to developing private wealth strategies. 

Steve focuses on:

• The benefits of private market investing and the evolution of the space
• How private assets affect portfolio diversification 
• Why asset managers, including Hamilton Lane, are focusing on education to help advisors navigate private investment strategies
• And more

Connect With Steve Brennan:

• LinkedIn: Steve Brennan
• Hamilton Lane

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Steve is a Managing Director and Head of Private Wealth Solutions at Hamilton Lane, leading the firm’s efforts to provide both evergreen and traditional private markets solutions to the growing Private Wealth channel. In this capacity, he sets the strategic direction and oversees all aspects of the Private Wealth Solutions business.

Some real estate structures offer investors major tax benefits. Like-kind exchanges allow investors to roll capital gains from one real estate investment into a new one. DSTs allow 1031 exchangers to pool capital into a fund. Qualified Opportunity Zone funds  allow investors to defer capital gains from any previous investments. 

In this episode, David Bodamer speaks with Louis Rogers, founder and Co-CEO of Capital Square, tax-advantaged real estate. Louis outlines the different structures and where his firm sits within the marketplace.

Louis discusses:

• How 1031 exchange options evolved, including the creation of Delaware Statuary Trusts
• Which property types Louis is bullish on in the current climate
• How he advises investors and chooses the assets for the different structures Capital Square uses
• How real estate investments fit into estate planning
• And more

Resources:

• Listen to the latest episodes of Common Area

Connect With Louis Rogers:

• LinkedIn: Louis Rogers
• Capital Square

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• WMRE
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Louis J. Rogers is founder and co-chief executive officer of Capital Square, where he oversees the firm’s Delaware statutory trust (DST) programs for investors seeking qualifying replacement property for Section 1031 tax-deferred exchanges and regular (non-exchange) investors.

For many individual investors, the traditional 60/40 portfolio focused on stocks and bonds was the only option they had for investment plans. Bluerock is among a group of alternative asset managers creating offerings meant to increase access to other asset types and investment structures. 

In this episode, David Bodamer speaks with Ramin Kamfar, CEO of Bluerock, on how the firm built its interval funds. Bluerock’s Bluerock Total Income+ Real Estate Fund is the largest real estate interval fund and second largest of all interval funds with more than $6 billion in assets. . 

Ramin discusses:

• The role of alternative investments in creating an efficient portfolio
• An explanation of the Bluerock Total Income + Real Estate Fund (TIPRX)
• Notable trends in the four major sectors of commercial real estate
• The role of education in raising awareness among advisors about alternative investments
• And more

Resources:

• Listen to the latest episodes of Common Area

Connect With Ramin Kamfar:

• LinkedIn: Ramin Kamfar
• Bluerock

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• WMRE
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Mr. Kamfar serves as Chief Executive Officer of our Manager, and as Chairman of our board of directors and as our Chief Executive Officer. Mr. Kamfar served as Chairman of the board of directors and Chief Executive Officer of Bluerock Residential Growth REIT, Inc. from August 2008 to October 2022. In addition, Mr. Kamfar has served as Chairman of the board of trustees of Bluerock Total Income + Real Estate Fund, a closed-end interval fund organized by Bluerock, since 2012, and as Chairman of the board of trustees of Bluerock High Income Institutional Credit Fund, a closed-end interval fund organized by Bluerock, since 2022. Mr. Kamfar has also served as Chairman of the board of directors of Bluerock Industrial Growth REIT, Inc. and Chief Executive Officer of its external manager, Bluerock Industrial Manager, LLC, since 2021. Mr. Kamfar is the Founder and has also served as the Chairman and Chief Executive Officer of Bluerock since 2002. Mr. Kamfar has approximately 30 years of experience in various aspects of real estate, private equity, and investment banking. From 1988 to 1993, Mr. Kamfar worked as an investment banker at Lehman Brothers, New York, New York, where he specialized in mergers and acquisitions and corporate finance. From 1993 to 2002, Mr. Kamfar built a startup into a leading public company in the ‘fast casual’ market now known as Einstein Noah Restaurant Group, Inc. Mr. Kamfar received an M.B.A. degree with distinction in Finance from The Wharton School of the University of Pennsylvania, and a B.S. degree with distinction in Finance from the University of Maryland, College Park.

Real estate investment has historically not been the most innovative space when it comes to using new technologies. But Cadre is aiming to change that. The firm uses predictive models and workflow tools to change the investment experience. It also aims to provide access to real estate investment opportunities previously unavailable to some investors. 

In this episode, David Bodamer speaks with Ryan Williams, founder and CEO of Cadre, about the company’s goal to transform real estate investment and increase access through the use of technology. Williams also discusses his goal in using real estate investment to create economic opportunities in underserved communities.

Ryan discusses:

• How Cadre’s platform works and what types of investors it works with
• Cadre’s three-pillar strategy for creating economic opportunities in underserved communities
• Why and how Cadre is involved in opportunity zone investments
• Cadre’s plans for growing its investor base
• And more

Resources:

• Listen to the latest episodes of Common Area

Connect With Ryan Williams:

• LinkedIn: Ryan Williams
• Cadre
• Twitter: Ryan Williams

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• WMRE
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Ryan Williams is the Founder and CEO of Cadre, a leading real estate technology platform that democratizes access to high-quality commercial real estate opportunities for individual and institutional investors. With ten years of experience in the industry, Ryan has a deep passion for leveraging data, technology, and innovation to transform the way people invest in real estate.

Under Ryan’s leadership, Cadre has achieved remarkable growth, scale, and impact. Cadre has closed over $5 billion in real estate transactions, generated a net annualized return of over 25% for its investors, and developed the industry’s first secondary marketplace for real estate investments. Cadre has also expanded its investor base to more than 50,000 accounts, and launched several new investment products and initiatives, including a fund focused on driving greater diversity and inclusion of operators in Cadre’s ecosystem program. Ryan’s mission is to empower more people to build wealth through real estate, and to make the asset class more transparent, efficient, and liquid.

Using recent Wealthmanagement.com research as a jumping off point, in this episode, David Bodamer speaks with Jay Miller, Chief Investment Officer at Forum Investment Group, exploring the company’s focus on multifamily real estate and the various investment options they offer and emphasizing how alternative investments provide opportunities for average investors to diversify portfolios by accessing asset classes previously limited to institutional investors. 

Jay discusses:

• Why interest is increasing in alternative investments, including private real estate
• How advisors can help clients navigate alternative investments
• The challenge with alternative investments and how technology is making it easier to manage these types of investments
• The current trends in multifamily real estate 
• And more

Resources:

• Alternative Investments 2023 Benchmarking Study Webinar
• Listen to the latest episodes of Common Area

Connect With Jay Miller:

• LinkedIn: Jay Miller
• Forum Investment Group
• Forum Capital Advisors

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• WMRE
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

Jay brings more than 30 years of real estate investment experience to Forum with demonstrated success developing and executing business strategies, and managing teams and systems. As CIO, Jay oversees the firm’s real estate investment team, chairs Forum’s investment committees, and is responsible for driving the firm’s continued growth through multifamily equity and debt investment opportunities.

Commodities have long been recognized as a valuable diversification tool, but their complexities and limited accessibility have often deterred average investors from including them in their portfolios.

In this episode, David Bodamer speaks with John Love, president and CEO of USCF, on the role of commodities in investment portfolios. They explore the importance of traditional alternative investments like private equity and REITs, as well as the democratization of commodity investing through ETFs.

John discusses:

• The role of traditional alternative investments in portfolio planning
• The diversification benefits of commodities
• How USCF’s ETFs align with the energy transition and the global economy
• What investors should consider when building a diversified portfolio with alternative investments and commodities
• And more

Resources:

• Alternative Investments 2023 Benchmarking Study Webinar
• Listen to the latest episodes of Common Area

Connect With John Love:

• LinkedIn: John Love 
• USCF

Connect With David Bodamer:

• [email protected] 
• WealthManagement.com
• WMRE
• LinkedIn: David Bodamer
• LinkedIn: Informa

About Our Guest:

John Love is President and Chief Executive Officer of USCF. Mr. Love previously served as Senior Portfolio Manager of USCF’s products, including the United States Oil Fund (USO) and United States Natural Gas Fund (UNG), the largest oil and natural gas ETFs in the US. Since USCF’s founding, Mr. Love contributed to the firm’s evolution through operations trading, research, product development, marketing, capital markets, and more. 

Despite the challenges faced by some parts of the commercial real estate industry, the fundamentals of many sectors remain strong and there remains plenty of opportunity for investment.  In this episode, David Bodamer is joined by Elizabeth Wohlleb, managing director and head of Real Estate Capital Markets with Cresset Partners, to discuss how the group …

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