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 – Tax optimization strategies for wealthy clients
Nuveen’s tax optimization program equips advisors with the tools and knowledge they need to take tax awareness to the next level and offer strategic tax planning that delivers measurable value to clients. The program includes a thorough review of current tax policies and provides a proven, client-centric process for designing and implementing customized tax strategies for specific situations and goals.
Key takeaways:
- Current tax policies and their impact on investors
- Tax-effective strategies for wealthy individuals and business owners
- How a multi-year approach to tax planning may maximize optimization
Accepted for 1 CFP® / IWI / CFA CE Credit
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