Private Wealth Management Summit September 2019
Rob Brown, PhD, CFA
Chief Investment Officer | Integrated Wealth Concepts, LLC
Speaker Presentation
Alternatives – The Good, the Bad and the Ugly
Alternatives are not an asset category. They are not uncorrelated; but they are vastly over-priced and immensely over-sold. Today, the investment management industry has embarked on its worst new product development cycle in modern history, i.e., bringing alternatives to smaller investors (those with between USD 50,000 and USD 2 million to invest per alternative). This new product cycle will eventually end with a bust instead of a whimper. Alternatives will earn a bad reputation and will become shunned. Nevertheless, alternatives provide one of the single most attractive opportunities for meaningful return enhancement and even risk mitigation. Our collective challenge is separating the wheat from the chaff, and then implementing in a cost effective and operationally controlled fashion.
Speaker Bio
Rob Brown is a senior level investment professional with over three decades of experience in portfolio management for large, sophisticated foundations, endowments, pensions and the ultra-high net worth. Prior to Integrated Financial Partners, he held executive positions with United Capital, Genworth Financial, SEI, Envestnet and the CFA Institute, where he directed the ongoing development of the educational curriculum for the CFA certification program and its examination.
Rob serves as a Board member for both the Journal of Investing and also for the Journal of Finance and Market. His publications have appeared in the Journal of Derivatives and Hedge Funds, Journal of Investing, Journal of Investment Consulting, Pensions and Investments, FA Magazine, RIA Central, On Wall Street Magazine, Royal Alliance Associates Sourcebook, Bank Investment Consultant, Investment News Magazine, London Financial Times, Financial Planning, Financial Advisor, and Journal of Financial Planning.
Speaker Presentation
Alternatives – The Good, the Bad and the Ugly
Alternatives are not an asset category. They are not uncorrelated; but they are vastly over-priced and immensely over-sold. Today, the investment management industry has embarked on its worst new product development cycle in modern history, i.e., bringing alternatives to smaller investors (those with between USD 50,000 and USD 2 million to invest per alternative). This new product cycle will eventually end with a bust instead of a whimper. Alternatives will earn a bad reputation and will become shunned. Nevertheless, alternatives provide one of the single most attractive opportunities for meaningful return enhancement and even risk mitigation. Our collective challenge is separating the wheat from the chaff, and then implementing in a cost effective and operationally controlled fashion.
Speaker Bio
Rob Brown is a senior level investment professional with over three decades of experience in portfolio management for large, sophisticated foundations, endowments, pensions and the ultra-high net worth. Prior to Integrated Financial Partners, he held executive positions with United Capital, Genworth Financial, SEI, Envestnet and the CFA Institute, where he directed the ongoing development of the educational curriculum for the CFA certification program and its examination.
Rob serves as a Board member for both the Journal of Investing and also for the Journal of Finance and Market. His publications have appeared in the Journal of Derivatives and Hedge Funds, Journal of Investing, Journal of Investment Consulting, Pensions and Investments, FA Magazine, RIA Central, On Wall Street Magazine, Royal Alliance Associates Sourcebook, Bank Investment Consultant, Investment News Magazine, London Financial Times, Financial Planning, Financial Advisor, and Journal of Financial Planning.