2023 Annual Conference & Trade Show

Mont-Royal 1

Featuring Kerri Walsh Jennings

Professional Beach Volleyball Player
Three-Time Olympic Gold Medalist
One-Time Olympic Bronze Medalist

Kerri Walsh Jennings is the most decorated professional female beach volleyball player in the world with 135 career wins, including three World Championship titles, three Olympic gold medals, one Olympic bronze, and 77 domestic AVP championships. Kerri is the co-founder of p1440, a non profit organization that uses beach volleyball as a vehicle for change to inspire those in our community to live their best lives. She was also named the Managing Partner for the Pro Volleyball Federation’s San Diego major league volleyball franchise that begins play in February 2024.

Nolita 1

This session brings a noted cast of industry veterans to identify aspects of alternative investments and pass on their knowledge. We will examine typical varieties of offering structures and the corresponding related potential benefits and risks associated with investments in alts. Examples of topics covered will be the investment process of sales, suitability and required disclosures. Panelists will identify how certain rules and regulations apply to the various types of offerings and why due diligence is an absolute critical part of the process to identify potential risks. Alternative investments cover a wide variety of industry sectors, including but not limited to real estate, energy, equipment and commercial debt. This session will also address some of the legal, tax and regulatory issues surrounding alt offerings with some of the best minds in the industry!

Session coordinator: Greg Mausz, Skyway Capital Markets

Moderator: Greg Mausz, Skyway Capital Markets
Participant: Charles Jensen, Inland Securities Corporation; Thomas Voekler, Williams Mullen; Jen Ricci, Overmoon

Nolita 2

A live tax return walk-through of a 1031 Exchange from start to finish! We will show the various forms, what actually gets reported, how to calculate new basis, and explore the implications of a full cycle program. The session will end looking at "rolling" from one DST into a new DST, particularly when it involves multiple properties. The session is not meant to make you a tax preparer but designed to give you basic knowledge of the process and tax reporting of a 1031 Exchange.

Session coordinator: Mark Kosanke, Concorde Investment Services

Presenters: Mark Kosanke, Concorde Investment Services; Brian Fritz, Inland Securities Corporation

Nolita 3

Hear the latest developments in artificial intelligence and how the technology is being used in the asset management and wealth management industry. A panel of fund managers and industry service providers will speak about how Chat GPT and AI are being used or plan to be used in their businesses.

Session coordinator: Mat Dellorso, WealthForge

Participant: Andrew Nelson, Nelson Kuiper; Joe Fraiman, Overmoon

Nolita 1

Following years of successful fundraises, the start of new developments and quality sponsors providing tax-advantaged offerings to meet investor capital gain needs, the Opportunity Zones Transparency, Extension and Improvement Act, an act that would extend the quickly approaching 202 deadline, lingers. While the hold period for a Qualified Opportunity Zone (QOZ) fund is 10-years or more, the rise in interest rates may have affected the economics of the deals. Additionally, dislocated credit markets may make it difficult to refinance projects before April 2026. This panel will dive into how sponsors are navigating the rising rate environment, executing business plans to meet expectations set, and planning for the future -- pre- and post- extension approval.

Session coordinator: Jessica Correnti, Peachtree Group

Moderator: Jaxon Harrop, DFPG Investments
Participants: Jay Frank, Cantor Fitzgerald; Alex Samoylovich, CEDARSt Companies; Erik Hayden, Urban Catalyst; Greg Friedman, Peachtree Group

Nolita 2

The world has been positioning itself for a broader array of energy assets to ensure we have enough safe, clean, economical energy to meet the ever-growing demand. In addition to traditional energy sources, renewables like hydro, wind, solar and biomass are actively contributing to our power sources. Energy investors need to understand the different strategies and opportunities to profit from a greater array of energy exposure.

Session coordinator: Jeff Shafer, CommonGood Capital

Moderator: Jeff Shafer, CommonGood Capital
Participants: Michael Underhill, Capital Innovations; Rino Sbriglia, e2companies; Bill Shopoff, Shopoff Realty Investments

Nolita 3

Interest rates declined during the COVID-19 pandemic, then began rising in 2022 as the Federal Reserve initiated a series of rate hikes to address inflation concerns. Despite optimistic forecasts and recent positive economic indicators, uncertainty lingers around when the Fed will opt to lower borrowing rates, posing a challenge for real estate buyers seeking viable options to secure financing for property acquisitions and development. This panel discussion on capital markets brings together a diverse group of experts in finance and investment to explore the current financing landscape and discuss how real estate investment companies are navigating today's dynamic lending environment.

Session coordinator: Bill Shea, Carter Funds

Moderator: Kyle Kadish, Advantage Wealth Solutions
Participants: Aaron Wessner, Cantor Fitzgerald; Raymond Davis, Red Oak Capital Holdings; JD Davis, Carter Funds; Steve Case, Bourne Financial Group

Belmont 4 & 8

ADISA Around the Alts Industry Sector Reports

General big picture performance: Mike Kell, iCapital
Drill down on 1031s: Taylor Garrett, Mountain Dell Consulting
Review of energy: Matthew Iak, U.S. Energy Development Corporation
Drill down on real estate and more: Kevin Gannon, Robert A. Stanger & Co.

Exhibit Hall

8:00-8:30 am -- Membership Committee Meeting (designated table in Exhibit Hall)
8:30-9:00 am -- Impact Investing Committee Meeting (designated table in Exhibit Hall)

Belmont 4 & 8

Participants: ADISA Legislative & Regulatory Co-Chairs John Grady, ABR Dynamic Funds, and Catherine Bowman, The Bowman Law Firm, along with Joe Price, FINRA, and Andrew Hartnett, Iowa Insurance Division

Belmont 4 & 8

"Commercial Real Estate Market Overview"
Speaker: Randy Anderson, PhD, Partner, Real Estate at Apollo

Nolita 1

This session will explore the fundamentals of distribution policies for different product structures and asset classes. We will discuss the various inputs that are utilized to set distributions and how those variables change over time. Finally, we will discuss communication of distributions with advisors and investors.

Session coordinator: Jenniffer Daigle, Eagle Point Credit Management

Moderator: Jacob Heidkamp, FactRight
Panelists: Joseph Roth, Eagle Point Credit Management; Ben Hilgers, Ashford; Andy Wang, Passco Companies

Mont-Royal 1

Take a deeper dive into the session that was standing room only at the Spring Conference! We will provide an overview of both offering types and then take a case study approach to explore the compliance and due diligence challenges and market opportunities that are causing broker-dealers to make the switch to 506(c) programs. Receive valuable and actionable information to better understand how to make the change and effective ways to educate your back-office team and financial advisors. We will leave time for Q&A, so bring your questions!

Session coordinator: Heidi Wheatley, KNPRE 1031

Moderator: John Grady, ABR Dynamic Funds
Participants: Dave Laga, DFPG Investments; Amy Arnold, Concorde; Kimberlee Levy, Concorde

Nolita 2

Join us for an interactive discussion among industry experts as they offer their perspectives on how to navigate the selection and utilization of DSTs in a low yielding environment. Our panelists will focus on the importance of due diligence, asset class selection and diversification. Also covered will be positioning opportunities and product trends within the tax-advantaged real estate investment solution marketplace.

Session coordinator: Christine Petersen, Inland Securities Corporation

Moderator: Catherine Bowman, The Bowman Law Firm
Participants: Matt Fries, Cetera Financial Group; Nati Kiferbaum, Inland Private Capital Corporation; Joe Nugent, Effective 1031 Planning; Brian Sanborn, NexPoint

Nolita 3

ADISA explores the newest entrants to our space. In investigative style, we unpacked some of the investment products as they vie for attention -- this session will feature several new entrants into the space: wine funds, fractionalized collectibles/music royalties, and more. Be part of the critique as we find out more on how the new products stack up as investment opportunities.

Session coordinator: John Grady, ABR Dynamic Funds

Investigator: John Grady, ABR Dynamic Funds
Participants: Alex Samoylovich, CEDARSt Companies; Elle Williams, Vint; Brian Aleksa, Oxford Funds; Sumit Saraf, TradeBacked

Nolita 1

Leading real estate managers discuss challenges and opportunities within the current economic landscape. How have weakening fundamentals, higher cost of capital, and uncertainty impacted the acquisition, ownership, disposition and investment potential for real estate? Is investment methodology changing to adapt and support portfolio sustainability and growth? What asset classes are anticipated to produce outsized returns in the future and why? We will provide relevant and specific takeaways that advisors can use in discussions with clients and in making investment decisions.

Session coordinator: Christy Hutchison, Shopoff Realty Investments

Moderator: Bryan Mick, Mick Law
Participants: Zach Forman, Apollo; Aaron Wessner, Cantor Fitzgerald; Bill Shopoff, Shopoff Realty Investments; Dominic Vaccaro, Burlington Capital

Exhibit Hall

12:40-1:10 pm -- Legislative & Regulatory Committee Meeting (Nolita 1)
12:40-1:10 pm -- Marketing Committee Meeting (Nolita 2)
1:10-1:40 pm -- Diversity & Next Generation Committee Meeting (Nolita 3)

Nolita 1

This panel will focus on key aspects of dealing with alternatives in an RIA practice. The panel will draw upon experiences of RIA firms and industry partners to provide a perspective on the opportunities and challenges faced in offering alternatives in an RIA practice.

Topics to be covered include education and training, sourcing of credible fund managers, understanding spectrum of product features, and screening/due diligence of available investment offerings. Discussion of regulation and "pain points" faced by RIAs, acting as fiduciaries in the private wealth channel, will also be addressed. This session will offer an opportunity to ask questions on any aspect of alternatives in an RIA practice.

Session coordinator: Craig Covington, DAI Securities

Moderator: Rizwan Ibrahim, Accretive Wealth Management
Participants: Brian Conneely, Peak Capital Solutions; Richard Hilson, Hilson Consulting; Jonathan Sterling, Saretsky Hart Michaels + Gould; Brad Bolnick, GCB Private Wealth

Session coordinator: Heidi Wheatley, KNPRE 1031

Moderator: Mike Packman, KNPRE 1031
Participants: Jacob Heidkamp, FactRight; David Sengstock, Mick Law; Karlton Kleis, Arete Wealth Management

Nolita 3

Structured credit has consistently delivered higher yields with lower default rates than traditional corporate credit investments. Will the trend continue or is this time different?

Session coordinator: Linda Cobelo, Preferred Capital Securities

Moderator: Linda Cobelo, Preferred Capital Securities
Participants: Mike Gregson, Fulcrum Point Fixed Income Group; Mark Whyman, iCapital; Josh Soffer, Prospect Capital

Nolita 1

As impact investing expands to UHNW and UNW private investors, there is a significant opportunity for advisors and other professionals to engage and grow their business while helping these clients reach their impact and financial goals. Hear from experts who have real world experience working with investors in the impact space on how you can effectively communicate the opportunities and build compelling portfolio offerings. Our speakers will discuss the demographic and market conditions driving the increased demand for impact investment offerings and share real world case studies of how they have worked with clients to identify opportunities and leverage capital to secure meaningful financial and impact returns.

Session coordinator: Elizabeth Burdette, SignatureFD

Moderator: Elizabeth Burdette, SignatureFD
Participants: Igor Tsukerman, Eureka Wealth Solutions; Paulina Stannard, Corient; Solomon Halpern, Highlander

Nolita 2

A recent industry study indicated that 70% of heirs plan to change their financial professional when they inherit. $84 trillion will move over the next 25 years and 22% of it will likely occur in the next decade (Cerulli Report 2021). Advisors are looking for ideas to help increase intergenerational client retention and build upon their referral network in order to take advantage of the greatest wealth transfer in history. The use of alternative investments in challenging markets can create great opportunities for advisors to strengthen client retention but also grow their client base and AUM. This session will focus on how some of our top advisors are achieving this and provide an opportunity for attendees to ask questions.

Session coordinator: Alex Anderson, Time Equities

Facilitator: Alex Anderson, Time Equities
Participants: Amy Fosbenner, Fosbenner Financial; Ron York, Foresight Financial Partners; Jason Kolinsky, Kolinsky Wealth Management

Nolita 3

This is a session not to be missed for those interested in exploring alternative investment opportunities within the E&P sector of the energy value chain. The session will explore the economics and tax advantages of multiple oil/gas focused strategies and structures that include drilling. QOF/QOZ programs that focus upon E&P, Sect. 1031 eligible royalty acquisition programs and non-traded oil/gas focused hedge funds. The session will also explore the current headwinds facing these energy-related program strategies (i.e. inflation, high interest, ESG, and political challenges) and what ADISA members need to consider from a Reg BI perspective when sourcing, reviewing and approving these non-traded products for due diligence purposes.

Session coordinator: Brad Updike, Mick Law

Moderator: Sam Irvani, Waveland Capital Group
Participants: Jack Hollander, Hollander Law Office; Shanna Keavney, Texakoma; Chad Willis, iStick Capital

Nolita 1

Leading real estate managers discuss features and characteristics of perpetual life NAV REITs. They will also discuss how a perpetual life NAV offering fits and benefits an investor's portfolio. Compare the benefits of a perpetual life vs. DST and traditional non-traded REITs. Real estate solutions for the RIA channel. Panelists will discuss economic cycles and how perpetual life benefits investors through the various cycles (growth participation in the long-term holding of the asset). Lastly, they will discuss tax benefits, fee structure and liquidity.

Session coordinator: Flavia Samper, Burlington Capital

Moderator: Craig Merkt, Calton & Associates
Participants: Dominic Vaccaro, Burlington Capital; Jeff Daly, Versity Invest; David Leavitt, ElmTree Funds

Nolita 2

Join us for a discussion on private equity, how to include this important asset class in a portfolio and a deep dive on due diligence done by sponsors with respect to deal sourcing, strategies, valuation, operation and ongoing due diligence.

Session coordinator: Michelle Moore, Axxes Capital

Moderator: Ray Joseph, Axxes Capital
Participant: Brian Buehler, Triton Pacific Securities

Nolita 3

Short-termism refers to an excessive focus on short-term results at the expense of long-term interests. Short-term performance pressures on investors can result in an excessive focus on their parts on quarterly earnings, with less attention paid to strategy, fundamentals, and long-term value creation. Financial intermediaries have shown an increasing short-term outlook in recent years. There's also an attendant tension with the owners of the money being managed, who often require a long-term investment view (a retirement fund, for example). As a result of this misalignment of interests between the two groups, significant losses for investors can arise. Transaction costs aggravate this problem -- because a short-term outlook often drives high portfolio turnover, this can lead to high transaction costs, reducing returns to investors. Learn about these complications and mitigation and communication strategies to minimize the effects.

Session coordinator: Michael Underhill, Capital Innovations

Moderator: Jeff Shafer, CommonGood Capital
Participants: Peter Magnuson, Osaic; Jayanta Sen, UNLV

Exhibit Hall

Sponsored by: 

Exhibit Hall

8:00-8:30 am -- Conference Planning Committee Meeting (designated table in Exhibit Hall)
8:30-9:00 am -- Education & Publications Committee Meeting (designated table in Exhibit Hall)

Belmont 4 & 8

"Godfather of Fiduciary"

Don Trone, BCF™ is the CEO of the Center for Board Certified Fiduciaries (CBCF), which is affiliated with the Wake Forest University – School of Professional Studies. CBCF is offering the first executive education certificates in fiduciary studies and awards the peerreviewed BCF (Board Certified Fiduciary) mark.

Don also is one of the Co-founders of 3ethos, which conducts original research in the field of Behavioral Governance (BG). BG is the follow-on to Behavioral Finance, except now the focus is on how the behaviors of key decision-makers impact the quality of their decision-making outcomes.

Don was the founding CEO of fi360; founder and President of the Foundation for Fiduciary Studies; and the first person to direct the Institute for Leadership at the U.S. Coast Guard Academy.

In 2015 Don was named by Investment Advisor magazine as the “Father of Fiduciary” and one of the 35 most influential people in the financial services industry. In 2003, he was appointed by the U.S. Secretary of Labor to represent the investment counseling industry on the ERISA Advisory Council, in 2007 he testified before the U.S. Senate Finance Committee on fiduciary best practices; and in 2015 he testified before the U.S. Department of Labor against the proposed DOL Rule.

Don is a graduate of the U.S. Coast Guard Academy (Class President), and served for ten years on active duty, most notably as a long-range search and rescue helicopter pilot. He is a fourtime recipient of the Sikorsky Helicopter Rescue Award. He has a Master’s from The American College and has completed post-graduate studies in theology from the Pittsburgh Theological Seminary and Trinity Episcopal Seminary.

Nolita 1

Join us for a discussion on the evolution of custodians over the last several years, including updates on the recent merger between TD Ameritrade and Schwab. We will dive into some of the questions regarding that merger that still linger for sponsors, RIAs, and broker-dealers. This panel will explore when it is most appropriate to utilize a large clearing house such as Schwab, and when a third party alternative investment focused custodian would be more beneficial. The session will highlight important updates on how technology is impacting processing times and capabilities of both large and small custodians.

Session coordinator: Michelle Thomas, CNB Custody

Moderator: Matt Podolsky, Phoenix American
Participants: Adam Kipnes, Charles Schwab; Jason DeBono, NuView Trust; Michelle Thomas, CNB Custody

Nolita 2

Private credit is uniquely well-positioned to capitalize in the current environment. Credit conditions have tightened significantly due to higher interest rates as well as with banks having pulled back after Silicon Valley Bank. When traditional lenders pull back, we can race in.

Private credit solutions can provide capital gain opportunities that other yield instruments (such as money market funds, CDs or treasuries) cannot, boasting your clients' potential returns.

Fund structure matters. Quarterly redeeming funds may better protect your investors' dollars as well as provide the opportunity to benefit during a market downturn.

Session coordinator: Michelle Moore, Axxes Capital 

Participants: Parker Roy, Axxes Capital; Mike Terwilliger, BC Partners Credit; Miguel Sosa, Bluerock

Nolita 3

Nearly 40 years ago, certificates of deposit were considered great investments. The average annual percentage yield (API) on a one-year CD was over 11%. In 2000, average CD rates were at 4.58% for a 6 month CD, 4.93% for a year, and 5.44% for five years. Yet, through these cycles, alternative investments as a portion of a diversified investment portfolio have shown steady growth.

In recent years, average rates on CDs were under 1%, but they've started to climb back up with the onset of federal rate hikes. Bankrate's June 7, 2023, rate survey data shows the average one-year CD has an APY of more than 5%.

Given the new cycle we are in, this session will explore the performance of alt investments in prior high interest rate cycles and the role alternatives can play and how we can serve investors in the more current higher interest rate climate.

Session coordinator: Mark Petersen, Lighthouse Life Capital

Participants: Mark Petersen, Lighthouse Life Capital; Nick Duren, Crescent Securities Group; Brian Kasal, FourStar Wealth Advisors; Fred Baerenz, AOG Wealth Management

Nolita 1

Meet the Regulator: Join us for a Q&A with Rob Briscoe from FINRA’s Corporate Finance Department, covering 5123 filings, how FINRA perceives 506(b) vs. 506(c), marketing materials, and red flags that prompt inquiries from his department.

Session coordinator: Mark Atchity, Cabin Securities

Presenter: Rob Briscoe, FINRA

Nolita 2

Join the RIA Council (RIA and DUALs only) for an open discussion on best practices for offering alternatives as an RIA. Share your ideas and key topics of interest for future ADISA meetings and conference sessions.

Session coordinators: Craig Covington, DAI Securities; Rizwan Ibrahim, Accretive Wealth Management

Nolita 3

Sponsors discuss the latest hot topics and concerns, as well as off suggestions on future programming in a closed-door session for sponsors only. All sponsors are welcome to attend.

Session coordinator: Jade Miller, Bourne Financial Group