Alternative Allocations with Tony Davidow

Franklin Templeton
  • 5.0 (19)
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Alternative Allocations with Tony Davidow is a monthly podcast designed to help wealth advisors allocate effectively to alternative investments. We share practical, relatable advice and discuss new investment ideas with leaders in the field. We'll talk about the relative attractiveness of certain segments of the market, and share insights regarding how to allocate effectively to alternative investments. Tony is particularly qualified, bringing over 30 years' experience in working with advisors and high-net-worth investors, family offices, and institutional investors in allocating to alternative investments. Tony held senior leadership roles at Morgan Stanley, Guggenheim Investments, and Charles Schwab among other organizations. He is an award-winning author, and in 2020 he was the recipient of the Investments & Wealth Institute's Wealth Management Impact Award for his contribution to the industry. Tony is the author of "Goals-Based Investing: A Visionary Framework for Wealth Management" (McGraw-Hill, 2021). To learn more, and to sign up for our updates, please visit alternativeallocationspodcast.com.

  1. Expanding DC Plans: The Role of Private Markets with Guest Pat Arey, Empower

    5D AGO

    Expanding DC Plans: The Role of Private Markets with Guest Pat Arey, Empower

    In this episode of Alternative Allocations, Tony and Pat discuss the evolving landscape of Defined Contribution (DC) plans and the integration of private markets. They explore the historical context of DC plans, the challenges and opportunities presented by private market investments, and the critical role advisors play in guiding participants through these complex investment strategies. The conversation highlights Empower's innovative approaches and the potential for private markets to enhance retirement outcomes for millions of Americans. Pat Arey is a Custom Solutions Sales Director for Empower. In his role, he is responsible for communications, distribution, and sales related to Empower Investments offerings in the core market for the Northeast region. He collaborates closely with advisors, consultants, and registered investment advisers on complex issues surrounding investments, advice solutions, retirement plan design, and longevity for plans and their participants.  Pat originally joined the organization in 2017, serving in leadership and individual contributor roles within investment distribution. Prior to that, he worked in similar roles with consultants and advisors at large asset managers, including State Street Global Advisors and Fidelity. Pat holds a bachelor’s degree in finance with a minor in computer information systems from Stonehill College.  He currently maintains FINRA Series 6 and 26 securities registrations and Series 63 and 65 state securities licenses, and he holds FINRA Series 3 and 7 credentials.  Pat is also the co-author of a financial literacy and career development curriculum for youths and young adults designed to help develop more educated retirement savers into the future.  Resources: Patrick Arey | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    26 min
  2. Navigating the Growth of Alternatives in Wealth Management with Guest Loren Fox, FUSE Research Network

    SEP 2

    Navigating the Growth of Alternatives in Wealth Management with Guest Loren Fox, FUSE Research Network

    In this episode of Alternative Allocations, Loren and Tony discuss the growing trend of advisors adopting alternative investments in wealth management. They talk about the primary drivers for this adoption, including diversification, risk mitigation, and the potential for higher returns. They note, however, that the process is fraught with challenges, such as the complexity and time required to understand these products, and limited access through many firms. To help advisors overcome these hurdles, asset managers are investing in education, digital content, and the development of model portfolios and blended public-private products. Loren Fox is the Director of Research at FUSE Research Network, a provider of business intelligence and consulting for the asset and wealth management industries. Loren is responsible for industry benchmarking studies, consulting projects, supporting the firm’s clients, and helping to shape the overall research agenda. Before joining FUSE, Loren spent nearly 10 years as the director of Ignites Research, a unit of the Financial Times that produced original research on the asset management industry; he also created and ran the US financial advisor rankings that appeared in the Financial Times from 2013 through 2020. Previously, he was a senior research analyst at Strategic Insight. Prior to that, Loren was a business journalist for many years, having worked at Institutional Investor and other publications, and he is the author of the book “Enron: The Rise and Fall” (2002).  As an industry expert, Loren has spoken at numerous conferences and been quoted in The Wall Street Journal, The New York Times, Financial Planning, WealthManagement.com, and other publications. He earned his BA from Johns Hopkins University and his MS from Columbia University. Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: Loren Fox | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    28 min
  3. The Role of Alts in Modern Portfolios with Guest Bill Duffy, Fidelity Investments

    AUG 5

    The Role of Alts in Modern Portfolios with Guest Bill Duffy, Fidelity Investments

    Bill and Tony discuss the growth and evolution of alternative investments, address liquidity concerns, and emphasize the importance of education in the latest episode of Alternative Allocations. Bill highlights the industry's efforts to make alts more accessible through new product structures and the potential for including private markets in model portfolios and defined contribution plans. Bill Duffy is a Vice President of Alternative Investments for Fidelity Investments. He is responsible for Fidelity’s alternative investment platform solutions which enable Fidelity clients access to alternative investment strategies. Bill focuses on developing Fidelity’s alternative investment platform strategy, as well as overseeing Fidelity’s relationship with leading alternative investment platforms and asset managers. Additionally, Bill educates Fidelity clients and prospects about alternative investment programs available through Fidelity. He is often a featured speaker on alternative investment strategies and trends at industry conferences and events. Prior to Fidelity, Bill worked at Charles Schwab & Co., Inc. where he was Managing Director of Relationship Management, overseeing relationships with over 700 third-party asset managers. He also led product strategy for Schwab’s alternative investment platform team. In that role, he also collaborated with industry thought leaders to deliver alternative investment education to thousands of RIAs. Earlier in his career, Bill was an Executive Director at a boutique alternative investment advisory firm, where he was responsible for consulting with RIAs, family offices, and institutional investors on alternative investment strategies including private equity, private credit, real estate, and hedge fund opportunities. Bill is currently Chairman of the Board of Directors for the Institute for Portfolio Alternatives (“IPA”), an industry trade group focused on expanding access to alternative investments strategies and advocating on behalf of the alternative investment industry. Prior to being elected Chair of the Board, he was an active Board member since 2020. Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: Bill Duffy | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    23 min
  4. Examining the 60/40 Portfolio with Guest Brian Ullsperger, Andersen

    JUL 1

    Examining the 60/40 Portfolio with Guest Brian Ullsperger, Andersen

    In this Alternative Allocations podcast episode, Tony and Brian discuss the evolution of investment investments such as private equity, private credit, real assets, and managed futures. They highlight the importance of these alternatives in diversifying portfolios, smoothing out market volatility, and generating higher returns, especially in more challenging investment environments. Brian also stresses the value of clear communication with clients to ensure they understand the purpose and benefits of these complex sstrategies, emphasizing the need to move beyond traditional 60/40 portfolios by incorporating alternative trategies. Brian Ullsperger is a Managing Director at Andersen, advising approximately $2B in assets and 200 households.  Brian has over 30 years of experience in the investment consulting industry. He focuses on providing investment consulting and wealth management services to high-net-worth individuals, families, foundations, and endowments. Before rejoining Andersen in early 2010, Brian was a founding partner of Capital Fiduciary Advisors. Prior to that, Brian was at Charles Schwab. During his career, Brian has provided a wide variety of client services, including private and institutional consulting, wealth management, retirement and estate planning, and insurance planning.  Brian earned the Certified Investment Management Analyst (CIMA) advanced professional certification from the Investments & Wealth Institute (taught in conjunction with the Wharton School, University of Pennsylvania).  Brian is a frequent speaker on investment and wealth management topics. Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: Brian Ullsperger | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    25 min
  5. Special Feature: Live from the NYSE with Guest Jeb Belford, Clarion Partners

    JUN 17

    Special Feature: Live from the NYSE with Guest Jeb Belford, Clarion Partners

    In this special feature episode live from the NYSE, Tony and Jeb engage in a discussion focused on the current state and future outlook of private real estate, focusing on a positive overall outlook as declining valuations made asset values more attractive. They highlighted favorable sectors such as industrial, multifamily, and life sciences, while the office sector faced challenges. Jeb explains how the industrial sector showed resilience due to shifting trade patterns and long-term fundamentals, including e-commerce growth, the persistent housing shortage, and the trend of near-shoring and on-shoring.  Jeb Belford, Managing Director, is the Chief Investment Officer of Clarion Partners. He is an equity owner in the Firm, chairman of the Firm’s Investment Committee, and a member of the Executive Board. From 2013-2021 Jeb was the lead Portfolio Manager of the Firm’s open-end core fund, with overall responsibility for fund management and portfolio strategy. From 2005-2012, Jeb was the Portfolio Manager for the Lion Value Fund, the Firm’s value-add investment platform. Prior to becoming a portfolio manager, Jeb was a senior member of the Firm’s Acquisitions Group, completing investments across a broad range of strategies. His background includes all key aspects of portfolio management, including acquisitions, financing and sales totaling over $20 billion in all property types and risk strategies, in markets across the U.S., Brazil and Mexico. Jeb joined Clarion Partners in 1995 and began working in the real estate industry in 1984 at Winthrop Financial Associates, Boston, MA. Jeb has a B.A. in Mathematics and Religion from Dartmouth College. Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: About Clarion Partners | Alternatives by FT Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    28 min
  6. Alternatives as a Differentiator: How Advisors Are Meeting the Demands of High-Net-Worth Clients with Guest Christine Gaze, CFP®, CIMA®, Investments & Wealth Institute and Purpose Consulting Group

    JUN 3

    Alternatives as a Differentiator: How Advisors Are Meeting the Demands of High-Net-Worth Clients with Guest Christine Gaze, CFP®, CIMA®, Investments & Wealth Institute and Purpose Consulting Group

    In this Alternative Allocations podcast episode, Christine and Tony discuss the evolving landscape of high-net-worth client demands, particularly their growing interest in alternative investments. Christine emphasizes the importance of advisors developing a strategic approach to alternatives, including the need for client education and the role of IWI in providing training and resources. The episode also highlights the challenges and benefits of incorporating alternatives into investment strategies and the rise of specialized teams in wealth management. Christine Gaze, CFP®, CIMA,® is the Founder and Managing Partner of Purpose Consulting Group, where she leads the development of innovative practice management programs that empower financial professionals to grow with purpose. Christine has held a variety of influential leadership roles across the financial services industry, including Head of Practice Management at TD Ameritrade, Managing Director of Professional Development at AllianceBernstein, National Sales Manager for Lending at Prudential Securities (now Wells Fargo), and Executive Director at Morgan Stanley. Christine specializes in research-driven insights and custom content that drive measurable business results. Purpose Consulting Group’s signature program, Planning with Purpose™, equips advisors with the knowledge and confidence to make wealth planning central to their practice. Christine also leads development of the annual Changing Fee Landscape guide, the industry’s go-to resource on financial planning fees. She has published a variety of white-label programs on high-performing teams, intergenerational wealth transfer, advanced planning advice for high-net-worth clients, and longevity planning. Passionate about lifelong learning and giving back, Christine also serves on several professional and community boards including The Community Fund of Darien and the Investments & Wealth Institute, where she is currently Board Chair. She lives in Darien, CT with her husband and two college-age children, and is always up for an adventure — especially if it involves hiking, biking, or discovering great food. Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: Christine Gaze, CFP(R), CIMA(R) | LinkedIn Investments & Wealth Institute: Posts | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    22 min
  7. One on One with Guest Tony Davidow, CIMA®

    MAY 6

    One on One with Guest Tony Davidow, CIMA®

    In Episode 23 of the Alternative Allocations podcast, the tables are turned, and Tony is interviewed by the producer of the show, Julia Giordano. The episode focuses on Tony's new book, “Private Markets, Building Better Portfolios with Private Equity, Private Credit and Private Real Estate,” which discusses the evolution of the wealth management industry and the growing importance of private markets. Tony shares insights from his career, why he wrote this book, and what else makes him tick.  Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Private Markets is educational material, leveraging independent research, authored by Tony Davidow in his personal capacity. Comments and views expressed are not necessarily those of Franklin Templeton. Resources: Private Markets: Building Better Portfolios with Private Equity, Private Credit, and Private Real Estate Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn Julia Giordano, RMA® | LinkedIn

    23 min
  8. The Rise of the Total Portfolio Approach with Guest Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, CAIA Association

    APR 1

    The Rise of the Total Portfolio Approach with Guest Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, CAIA Association

    In this episode of Alternative Allocations, Tony and Aaron discuss the Total Portfolio Approach (TPA), which shifts from traditional strategic asset allocation to a more goal-aligned investment strategy. They explore key aspects of TPA, including governance, culture, a factor-based lens, and competition for capital. The episode highlights both the challenges and opportunities for advisors in adopting TPA, such as the need for a cultural shift and technical expertise, but also the potential for improved client outcomes and more flexible portfolio construction. Practical steps for implementing TPA, such as making incremental changes and reorganizing the investment team, are also discussed. Aaron sits on CAIA Association’s executive leadership team and leads its global content strategy. This includes the development of thought leadership, research, and content agendas, content marketing and brand, and industry events. He also oversees strategy for CAIA’s 20 chapters across the U.S., Canada, and Latin America.  Previously, Aaron founded UniFi by CAIA™, an online platform dedicated to educating the private wealth management industry on alternative investments. He has also sat in various other content development and educational programming roles at CAIA. Aaron is a frequent speaker and writer on various topics of alternative investments and his work has been published in CAIA’s educational programs, numerous academic journals, books, and industry publications. Aaron’s industry experience lies in private wealth management, where he oversaw asset allocation, portfolio construction, and manager research efforts for high-net-worth individuals and defined contribution plan sponsors and participants. He earned a B.S. with distinction in Finance and a Master of Finance from Penn State University. He holds the Chartered Alternative Investment Analyst (CAIA), Chartered Financial Analyst (CFA), Certificate in Investment Performance Measurement (CIPM), and Financial Data Professional (FDP) designations, and is a CERTIFIED FINANCIAL PLANNER™. He is a Past President of CFA Society Columbus and serves as a board director and Programs Chair for CFA Society Philadelphia. Aaron is an adjunct professor and serves on multiple advisory boards for Penn State University.   Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

    30 min
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About

Alternative Allocations with Tony Davidow is a monthly podcast designed to help wealth advisors allocate effectively to alternative investments. We share practical, relatable advice and discuss new investment ideas with leaders in the field. We'll talk about the relative attractiveness of certain segments of the market, and share insights regarding how to allocate effectively to alternative investments. Tony is particularly qualified, bringing over 30 years' experience in working with advisors and high-net-worth investors, family offices, and institutional investors in allocating to alternative investments. Tony held senior leadership roles at Morgan Stanley, Guggenheim Investments, and Charles Schwab among other organizations. He is an award-winning author, and in 2020 he was the recipient of the Investments & Wealth Institute's Wealth Management Impact Award for his contribution to the industry. Tony is the author of "Goals-Based Investing: A Visionary Framework for Wealth Management" (McGraw-Hill, 2021). To learn more, and to sign up for our updates, please visit alternativeallocationspodcast.com.

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