🎥 Brookfield Oaktree Wealth Solutions' John Sweeney - building a high-performing wealth solutions business

Welcome back to the Alt Goes Mainstream podcast.

Today’s episode dives into the details of distribution and how to build a high-performing global business to serve the wealth channel across brands and strategies.

John Sweeney is the Chief Executive Officer of Brookfield Oaktree Wealth Solutions, a business unit that was created to harmonize the distribution efforts across the Brookfield and Oaktree brands.

He previously served as Head of US Business Development and Sales for Brookfield Oaktree Wealth Solutions and was a Managing Director and Head of the Americas intermediary business at Oaktree Capital. He also served as president of Oaktree Funds from 2014-2018.

Before joining the alternative asset manager side of the business, John had extensive experience working in alternative investments roles at private banks. Before joining Oaktree in 2013, he was a Managing Director and Head of Product Management and Development for the alternative investments business at Morgan Stanley. Prior to that, he was the Head of Product Management in the US for the alternative investments business of the Citi Private Bank.

John and I had a fascinating and informative discussion. We covered:

* How John is building Brookfield Oaktree’s wealth business.

* The benefits of scale.

* Wisdom from John’s Oaktree colleague Howard Marks.

* How advisor education is critical to the adoption of private markets.

* And much more.

Thanks John for coming on the show to share your wisdom and views on private markets and working with the wealth channel.

Clip #1: What has it been like having a front row seat to the growth of private markets?

Clip #2: Combining Brookfield and Oaktree to build a wealth solutions business.

Clip #3: Turning a challenge into a huge advantage.

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 [email protected].

We thank Ultimus for their support of alts going mainstream.

Show Notes

00:00 Introduction to our Sponsor, Ultimus Fund Solutions

01:55 Welcome to Alt Goes Mainstream

02:06 Introduction to John Sweeney

02:30 John Sweeney's Career Background

03:58 John's Early Career at Morgan Stanley

04:34 Evolution of Alternative Investments

05:15 Impact of Technology on Private Markets

06:43 Service and Distribution Strategies

07:36 Building Brookfield Oaktree's Wealth Business

07:56 Importance of Client Service

09:35 Staffing and Organizational Growth

11:08 Brookfield and Oaktree Partnership

12:45 Focus on Investment Solutions

13:29 Understanding Client Needs

14:06 Wealth Channel Strategies

14:52 Focus on Real Assets and Credit

16:11 Global Expansion and Market Strategy

16:38 Challenges and Opportunities in Wealth Management

17:48 Differentiating Large GPs

18:10 Brand Building and Recognition

19:05 Effective Client Engagement

20:29 Insights and Education for Advisors

22:39 Evergreen Funds and Client Relationships

25:22 Balancing Content and Engagement

27:32 Investment Philosophy and Market Context

32:49 Delivering Returns and Income

33:02 Accessing Evergreen Funds

33:16 Compounding Returns Over Time

33:23 Thinking in Decades

33:34 Private Credit Evolution

33:48 Experience and Results

34:12 Brand and Education

34:23 Distinguishing in Good and Bad Times

34:51 Showcasing History and DNA

35:45 Brookfield Real Estate

36:07 Oaktree's Credit Roots

36:28 Integrating Two Brands

36:48 Building Solutions Across Brands

37:16 Global Presence and Marketing

37:27 Private Wealth Arm of Brookfield

37:52 Investing in Megatrends

38:59 Importance of Scale

39:48 Navigating Wealth Channel Conversations

40:45 Competing on Different Fronts

41:35 Complementary Areas and Adjacencies

43:08 Global Expansion and Regional Strategies

43:35 Survey Insights on Alternatives

44:54 Global Opportunities in Private Markets

45:14 Regional Differences in Distribution

46:03 Building a Local Team

48:37 Building a Culture of Shared Success

49:19 Educating Advisors and Sales Teams

52:44 The Future of Private Markets and Model Portfolios

56:18 Exciting Opportunities in Real Estate and Beyond

57:41 The Appeal of Music Royalties and Human Connection

59:26 Conclusion and Final Thoughts

Editing and post-production work for this episode was provided by The Podcast Consultant.

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