Welcome back to the Alt Goes Mainstream podcast.

Today’s episode features the architects behind one of the industry’s faster growing wealth management platforms, NewEdge.

We welcome NewEdge CEO, Managing Partner, and Co-Founder Rob Sechan and NewEdge CIO Cameron Dawson.

Both Rob and Cameron have a wealth of experience in both wealth management and private markets. Rob has over two decades of experience in financial services, beginning his career as a financial advisor at Morgan Stanley, before running a family office business as a Managing Director at Lehman Brothers. He later joined UBS as a Managing Director and Head of the Intellectual Capital Subcommittee, where he helped guide the firm’s tactical investment process for wealthy families and institutional clients before founding NewEdge in 2020. Cameron was the Chief Market Strategist at Fieldpoint Private Securities and a Senior Equity Analyst at Bank of America before joining NewEdge as CIO.

Since its founding in 2020, NewEdge has grown to over $44B AUM, supports over 300 financial advisors. NewEdge has built a platform that combines wealth management, technology, custody, research, and alternatives capabilities. They’ve built out a sophisticated private markets investment practice, which we unpacked in detail on today’s podcast.

Rob, Cameron, and I had a fascinating discussion. We covered:

• The transformation in wealth management and the approach that NewEdge has taken in the independent wealth channel.
• The evolution of Super RIAs.
• The role of alternatives in wealth management. 
• Navigating client psyche and market cycles.
• The importance of due diligence and why fee discipline matters in private markets.
• The importance of liquidity in a client's portfolio.
• Why portfolio construction is key in the wealth channel.

Thanks Rob and Cameron for coming on the show to share your thoughtful views on wealth management and private markets.

Show Notes

00:00 Introduction and Ultimus Sponsor Message

01:21 Welcome to the Podcast

02:03 Introducing NewEdge Wealth and the Guests

02:20 Rob Sechan's Journey in Wealth Management

07:46 Cameron Dawson's Perspective on NewEdge

11:45 The Role of Alternatives in Wealth Management

20:09 The Evolution of Super RIAs

24:10 Investment Strategies and Client Focus

31:31 Balancing Proactivity and Client Sensitivity

31:56 The Importance of Transparency and Differentiation

32:30 Navigating Client Psyche and Market Cycles

33:33 The Role of Alternatives in Portfolios

36:05 Private Equity Opportunities and Challenges

38:00 Fee Discipline and Alpha Generation

51:57 Engaging with Wealth Channels

56:52 Favorite Alternative Investments

59:27 Conclusion and Final Thoughts

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.