🎥 Live from Nuveen's nPowered Conference: Nuveen's Jeff Carlin - "It's all about the end client"

Welcome back to the Alt Goes Mainstream podcast.

Alt Goes Mainstream was live from $1.2T AUM asset manager Nuveen’s nPowered conference, a two-day event bringing together Nuveen thought leaders and industry experts to explore challenges and opportunities in private markets.

We interviewed some of Nuveen’s senior leadership on site to hear their views and perspectives on private markets, working with the wealth channel, and product innovation.

We sat down with Jeff Carlin, Senior Managing Director, Head of Global Wealth Advisory Services at Nuveen, and a member of the Senior Leadership Team. He’s responsible for leading the placement, distribution, and support of all products through the US Wealth distribution channel.

Jeff and I had a fascinating conversation about working with the wealth channel and how Nuveen has created products to serve this growing investor segment.

Thanks Jeff for coming on the Alt Goes Mainstream podcast to share your wisdom and expertise on private markets, private wealth, and distribution. We hope you enjoy.

Clip #1: Building indispensable partnerships by creating trust.

Clip #2: Taking success in public markets to private markets.

Clip #3: How do you outcompete other firms and build an outperforming distribution organization?

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 Podcast Introduction

02:01 Live from Nuveen's nPowered Conference

02:26 Jeff Carlin's Career Journey and Role at Nuveen

06:28 Evolution of Wealth Distribution

07:24 Changes in Advisor Discretion

09:06 Consultative Selling Approach

10:30 Hiring Distribution Professionals

12:42 Building Trust with Advisors

13:57 Nuveen's Conservative Approach

14:41 Indispensable Partnerships

15:42 Macro vs. Micro Focus

17:33 Private Markets in Wealth Channels

20:12 Global Wealth Management

20:43 Regional Differences in Investment Themes

21:16 Challenges in European Markets

22:24 Focus on Global Financial Institutions

24:32 Structural and Non-Structural Advantages

27:12 Outcompeting in Distribution

29:08 Vision for Private Market Solutions

29:15 Portfolio Solutions Group's Role

29:55 Balancing Third-Party and Proprietary Products

30:18 Impact of Fund Allocation Decisions

31:09 Challenges in Wealth Channel Distribution

32:02 Complexities of Private Market Investments

32:24 Client Understanding and Implementation

33:00 Drawdown Features and Client Preferences

33:12 Perpetual Vehicles in Private Credit

33:56 Simplifying Private Market Investments

34:28 Managing Capital Calls and Cash Flows

36:47 Evergreen Structures in Private Markets

37:12 Future of Private Market Vehicles

38:41 Technological Innovations in Private Markets

38:58 Blockchain and Distributed Ledger Technology

39:52 Adoption of New Technologies

40:56 Excitement for Private Market Investments

41:51 Engaging Younger Investors

42:25 Impact of Technology on Investment Behavior

50:16 Advisor Education and Private Markets

52:08 Addressing Client Concerns About Private Markets

53:27 Importance of Client-Centric Approach

55:00 Evolving Terminology in Private Markets

56:13 Importance of Words in Financial Communication

56:24 Closing Remarks and Future Outlook

Join over 8,500 thought leaders from top private markets firms like Blackstone, Apollo, Ares, KKR, Carlyle, Blue Owl, CVC, TPG, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen and more.

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