Jeff Carlin, CFA, Head of Global Wealth Advisory Services for Nuveen, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss how advisors continue to enhance the client experience through customization, active ETFs, and private market investments.
Carlin notes that the dynamic RIA channel is accelerating in importance for Nuveen and other asset managers. Carlin has identified three trends in today’s RIA market. First is the growing demand for customization and personalization for client portfolios. Second, ETF demand continues to grow, driven by both cost savings and the availability of active management strategies. Third, advisors are increasingly adding private market and semi-liquid vehicles to client portfolios.
Nuveen has a long history of using private markets in client portfolios. Nuveen’s parent firm, TIAA, has been using private equity, private credit, and real estate for decades. Nuveen has the experience and scale to meet client needs with private markets in the desired wrappers. This includes $150 billion in real estate, $85 billion in US and European private debt offerings, and significant securitized credit capabilities. The firm is also the world’s largest manager of farmland and timberland.
There has been substantial innovation in wrappers for private market assets. Private credit is offered in the interval fund format, private equity can be accessed through tender offer funds, while private and semi-liquid vehicles are available in real estate and business development companies (BDCs).
Nuveen has developed the Private Markets Institute to educate advisors on these topics. Carlin states that there are a number of educational products that explain the what and the why of investing in private markets, but Nuveen’s product also explains how to invest in this sector. This includes considerations of the size of the allocation of each type of private markets investment and the source of funding for each allocation. Nuveen makes its investment experts accessible at events and through the publication of content. Nuveen is making strong progress with advisors who are first-time users of alternative investments or those who are just starting to invest.
Nuveen has also announced the acquisition of Brooklyn Investment Group after being introduced to the firm by a client. Nuveen offers a complete tax-optimized portfolio that combines Brooklyn’s direct indexing solution for equities and Nuveen’s market-leading municipal bond offerings. This product is growing exponentially, reaching over $1.5 billion in assets in its first eighteen months.
WEBCAST – Public & Private Markets: Benefits of a Combined Approach
Join us for a CE-eligible, educational session focused on optimizing portfolio construction through strategic alternative investment allocations. In today’s complex market environment, understanding how to effectively integrate alternative investments while managing liquidity constraints is crucial for serving your clients’ needs.
The discussion will cover:
- The broader macro environments for private markets and where we see potential opportunities
- How private markets can help work towards desired portfolio outcomes
- Overcoming illiquidity concerns
Accepted for 1 CFP® / IWI / CFA CE Credit
Resources: