AlphaCore Wealth Advisory's Dick Pfister - Wealth management with alpha at its core: live from iCapital Connect
About this episode
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 Notes
00:00 Welcome
00:47 Dick’s Trading Roots and Altegris
02:05 AlphaCore Origin Story
03:55 Alpha Beyond Investing
05:50 Private Markets and Liquidity
07:39 Tech Workflows and Proposals
09:47 AI and Risk Factor Tools
11:03 Risk Buckets in Alternatives
12:42 Advisor Education and Holding Power
13:56 Growth Through Acquisitions
17:18 Differentiating in Private Markets Today
20:49 Open Architecture vs Centralization
22:15 Scaling Models and Venture Access
26:05 Next Frontier of Education and Content
27:56 Clients, Social Media, and Human Advice
29:05 AI Threats and Opportunities
29:39 Closing Thanks
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