Considering the Hot Private Market Space for DC Plans As new Blackstone financial adviser surveying reiterates the growth in private market investing, can asset managers leverage the moment to champion its inclusion in defined contribution plans? https://bit.ly/3VHRlE8
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Verrrry interesting piece here on the slow/potential/inevitable inclusion of private market investment vehicles in defined contribution plans. As with in-plan guaranteed income, it’ll happen…just a matter of how and when. (And how the spoils get divvied up in the asset management world.) https://lnkd.in/gSNei9jw
Considering the Hot Private Market Space for DC Plans | PLANADVISER
planadviser.com
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🗞️ Modern Wealth Management has announced the strategic acquisition of Knoxville, Tennessee-based C&J Wealth Advisors. This acquisition serves as Modern Wealth’s ninth transaction since its inception, propelling the firm’s AUM to over $4 billion. Founded in 1982, C&J Wealth Advisors is an independent, fee-based wealth management firm that specializes in a tax-focused approach to saving and investment management, as well as retirement income planning services. Managing over $260 million in assets, C&J Wealth Advisors serves over 300 clients in the Knoxville and Oak Ridge areas. As a part of the transaction, C&J Wealth Advisors has fully adopted the Modern Wealth brand and the firm has onboarded C&J Wealth’s entire team of financial professionals. “This acquisition marks a significant milestone in our national expansion, enabling us to seize opportunities in the rapidly growing Knoxville market. Aligned with our commitment to delivering comprehensive financial advice, the C&J Wealth Advisors team brings a highly capable group of advisors to help execute our mission.” - Jason Gordo, co-founder and president #news #mergersandacquisitions #wealthmanagement https://lnkd.in/dPiacu39
Modern Wealth Management Acquires C&J Wealth Advisors, Surpasses $4 Billion in AUM
businesswire.com
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Independent Board Director & Advisor at Regulated firms, Startups & Family Offices. Chief Mischief Officer. Also has fun and talks about food, a lot.
Someone forgot to tell the asset management industry that it's summer, for crying out loud. Having so many calls and meetings that its extraordinary. But I dont blame them, if you look forward to the Q3 season, where most of the decisions for 2024 allocations will be finalised, you see tumbleweeds. So dont think August is going to be a quiet month. If it is, then you are in an enviable position or are passive in Public Equities :). Especially active alternative fund managers are struggling to find investors (forget VCs tbh, PD, PE, PC, Infra, RE are still okish). Couple of reasons from what I am picking up from allocators in USA, ME and Asia (Europe has gone home..), is that the cash piles are seriously high. And have you actually seen the money market rates? The allocator dry powder kegs are getting piled higher and higher. If you are risk averse, you want to sit out the ongoing uncertainty till you have a bit more clarity. If you are happy to take risks - the valuations are frankly still at irrational exuberance levels (read silly) - so you want to wait till the real impact of the rising interest rates really gets you by the short and curlies - and then you have some reasonable valuations to plonk your dosh into. Going back to the money market funds, you are getting yields just under 10% in some cases!! averaging around 6% mark? the median is actually higher because of volume factors. So will you actually bung in your money into active alternatives? Take a look at the shoshing sound of the bank deposits in the banking sector. The baffles are groaning. Passives are fine, with their lower cost and follow the market, but for actives - I think there are a few uncomfortable months ahead and because of this, they are starting to get a bit creative on what they offer investors - see the story below. #privateequity #privatedebt #realassets #realestate #infrastructure #assetmanagement #capitalraising #distribution
Private equity firms offer sweeteners to lure reluctant investors
ft.com
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Following on the heels of the APRA update on the private asset space. This is part 1 of an interesting series on this topic. My two cents on this topic. Private assets, such as private equity, are subject to unique challenges when it comes to performance reporting. These challenges include lagging performance reporting, the use of metrics that are prone to misinterpretation, and the responsibility of the fund manager to price and report the asset's valuation. Private equity valuations have become a lightning rod for investors over the past couple of years, as many have pointed out the lag in performance reporting. . The most commonly used performance metrics in PE are the TVPI and the IRR, which are prone to misinterpretation and are subject to biases such as survivorship bias. . Since private assets are not traded on an exchange, the underlying fund manager is responsible for pricing and reporting the asset's valuation, which can lead to less frequent and lagged reporting. As well as issues with clarity of valuation and reliance on other transactions as references, which is problematic in liquidity issues such as CRE is experiencing. . The reporting of private equity performance is often overstated, and the use of the internal rate of return (IRR) can lead to misleading results. It is only at the end of a private asset's life that you know what the true return is. #financialplanner #financialadvisers #financialadvisors #financialadvice #superannuation #retirement
Myths of Private Equity Performance: Part I
blogs.cfainstitute.org
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We believe that alternative investing is the next wave in the evolution of wealth management for high-net-worth investors. Billions of assets are transitioning from stocks and bonds to alternative investments and tax-loss harvesting strategies. As Wayne Gretzky famously said, "I skate to where the puck is going, not to where it has been." We have been at the forefront of this evolution, and our clients are enjoying similar success as pensions, endowments, and family offices have for the past 50 years. Private investments in the form of equity, credit, real estate, along with general partnership stakes in private investment companies, ownership in professional sports franchises, and our cutting-edge tax-loss harvesting strategy is where smart money is moving. Skillfully integrating alternatives into an investment portfolio has the potential to increase diversification, lower volatility, gain access to unique investment opportunities, reduce taxes, and enhance returns. https://ow.ly/jqbW50QHh5L
Family offices are going on the offensive, trading cash for alternative assets
cnbc.com
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Glad to contribute to this interesting article about new investors in Wealth Management featured in Institutional Investor. Thanks Michael Thrasher for the opportunity.
There was a private equity deal last week between a buyer and seller that are rarely paired together... I asked Iñaki Echave at Ontario Teachers' Pension Plan about why it wanted to invest in a wealth management firm, 7IM. And spoke to InCap Group, Inc.'s Brian Lauzon, CFA and Republic Capital Group.'s John Langston, CAIA about why the deal is sign of similar ones to come, and the beginning of a new phase in the multitrillion-dollar wealth management industry. More, only in Institutional Investor: https://lnkd.in/eK6UxUq9 #wealthmanagement #assetmanagement #mergersandacquisitions
A Pension Fund Is Investing in Wealth Management Firms. It Won't Be the Last.
institutionalinvestor.com
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"A proposal to increase the $483bn fund’s positions in assets such as private equity and private credit from 33 per cent of the plan to 40 per cent was approved on Monday, according to an announcement by the fund and notes from its board meeting. [ ] According to analysis published by Calpers alongside its board notes, private equity was the top-performing asset class in the decade to June 30 2023, with annualised returns of 11.8 per cent. That compares with 8.9 per cent from public equities and 2.4 per cent from fixed income. [ ] As part of the move, Calpers will increase its bet on private equity from 13 per cent to 17 per cent of its portfolio, although this could potentially rise as high as 22 per cent. At the same time, it is pulling back from investing in stock markets, with its allocation to equities set to fall from 42 per cent to 37 per cent of its portfolio. It will also trim its allocation to fixed income from 30 per cent to 28 per cent."
Calpers to invest more than $30bn in private markets
ft.com
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✅Disrupter 🎯Visionary 🙋♀️Supply Chain Executive 🤩Senior Leader Tony Robbins 📖International Bestselling Author 🎤Global Speaker 🧠Mentor 🫶Founder Femvestorsglobal™ - Supporting women to be #financiallyfabulous
🔥 Are investors finally waking up to St James's Place Wealth Management Group? 👀 Year on Year Revenue (Dec 22) dropped 36.1% and the the latest share price fell 15.49% in the last 5 days ✅ I commented on St James's Place (also linked to Select Investors here in Singapore) over a year ago 👉 Nothing has notably changed from the 2022 Yodelar report I referenced on my post to the 2023 Yodelar report The headlines from the 2023 report: ❌ 80% of St James’s Place unit trust funds rated as poor performing ❌High charges and poor performance across their entire range of funds ❌80% of SJP funds performed worse than half of same sector over 10 years ❌15% of all St. James’s Place funds returned losses over 10 years ❌75% of SJP funds yielded returns below the sector average over 5 years ❌St James’s Place initial fee more than twice the industry average ❌£100 billion managed by St James’s Place is held in poor funds ❌Restricted advice with no onus to provide comparative performance 🎯 If this isn't an eye opener to investors, I don't know what is! ✅ For those that missed the 2023 report, the link is in the comments #femvestorsglobal #financialliteracy #sjp #awakening #money #education #retirement #vision #payingtomakeothersrich #financiallyfabulous
St. James's Place Review
yodelar.com
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