Welcome back to the Alt Goes Mainstream podcast.
Alt Goes Mainstream was live from $1.2T AUM asset manager Nuveen’s nPowered conference, a two-day event bringing together Nuveen thought leaders and industry experts to explore challenges and opportunities in private markets.
We interviewed some of Nuveen’s senior leadership on site to hear their views and perspectives on private markets, working with the wealth channel, and product innovation.
We sat down with Keith Jones, the Global Head of Alternative Investments Product for Nuveen, and a member of the Extended Leadership Team. He’s responsible for the development and ongoing management of alternative investment products distributed through Nuveen’s institutional, wealth management, and retirement channels globally.
Keith and I had a fascinating conversation about product innovation in the wealth channel, how to educate and market products specifically designed for the wealth channel, and why it’s not a “one-size-fits-all” approach.
Thanks Keith for coming on the Alt Goes Mainstream podcast to share your wisdom and expertise. We hope you enjoy.
Clip #1: It starts with the clients.
Clip #2: Turning the battleship.
Clip #3: How does brand intersect with the creation and structuring of products?
A word from AGM podcast sponsor, Ultimus Fund Solutions
This episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.
To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.
Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.
We thank Ultimus for their support of alts going mainstream.
Show Notes
00:00 Message from our Sponsor, Ultimus Fund Solutions
01:18 Podcast Opening Theme
01:55 Welcome to Alt Goes Mainstream
02:19 Interview with Keith Jones: Background and Role
05:11 Product Innovation in Wealth Channel
05:23 Structuring Products for Wealth Channel
06:19 Client-Centric Approach
07:08 Challenges in Structuring Products
07:50 Importance of Brand
11:03 Nuveen's Real Estate Focus
12:04 Feedback from Distribution Teams
13:00 Product Governance
13:48 Wealth vs. Institutional Channels
17:03 Institutional Learnings from Wealth Channel
18:46 Operational Considerations and Education
19:30 FinTech Solutions
19:51 Subscription Process
21:04 Reporting Challenges
21:46 Unlocking Investor Allocation
22:55 Retirement Channel Opportunities
23:14 Education and Alternatives
24:26 Model Portfolios
25:22 Tokenization and Liquidity
26:18 Client-Centric Product Structuring
27:28 Communication and Alignment
30:45 Evergreen Structures
31:46 PM Skillset Evolution
33:14 Future of Product Innovation
34:53 Fee Compression in Alternatives
38:15 Diversification Benefits
40:17 Industry Collaboration
41:47 Conclusion and Thanks
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