The Women’s Initiative lunch at the Spring Symposium will present a selection of issues experienced by women in the alternative and direct investment industry and how they have addressed or are addressing them.  Industry leaders will provide advice and suggestions on potential approaches to such issues and audience participation and questions will be actively solicited.

Utilize section 1031 exchanges to help clients defer their taxes. This session will review the primary guidelines your clients must follow to complete a successful 1031 exchange. This session is a must for BDs, advisors and representatives who are looking to grow their business through the implementation of 1031 exchange investing.

Presenters: Mark Kosanke, Concorde Investment Services; Sean Hall, Inland Securities Corporation

This session offers a great educational opportunity for attendees who are new to energy investments, as well as a good refresher course for those who will be attending the Oil & Gas series of sessions on Tuesday. This session will introduce attendees to the various forms of non-traded energy investments that are offered to retail investors that include tax-preferred drilling programs, and royalty/income-oriented investments. This session will discuss these non-traded programs in terms of their investment strategies and structures, tax advantages, economic features and risks. This session will also introduce some suitability-related concepts to educate attendees as to who these investments are generally suited for from a financial planning perspective.

Moderator: Brent Barton, Emerson Equity

Presenters: Mike Hogan, Bradford Energy Capital; Don Deans, Deans Consulting; Fred Stoleru, Atlas Energy

This session discusses the major effects of variables involved with federal regulation of securities, plus the typical market variations and how they affect alternative investments.

Moderator: Austin Dutton, Bridge Valley Financial

Participants: Daniel Wildermuth, Kalos Financial; Al Haworth, Preferred Apartment Communities; Brian Weisenberger, Ascendant Capital

Session aimed to introduce and/or enhance financial advisor knowledge on highly competitive private equity business. Session includes introduction to private equity, structure, funding cycles, deal sourcing and underwriting, portfolio management and negotiated exit strategies.

Facilitator: Derek Peterson, Terra Capital Partners

Presenter: Craig Faggen, Triton Pacific Investment Corporation

This session focuses on real estate fundamentals, as well as how the Delaware Statutory Trust (DST) can be utilized to facilitate broader diversification and greater scale for 1031 exchange investors.

Moderator: Mike O'Toole, AEI Capital Corporation

Panelists: Brad Watt, Provasi Capital Partners; Daniel Oschin, Shopoff Realty Investments; Belden Brown, Passco Companies

Insights into non-traded REIT fundamentals from the perspective of the sponsor, the lawyer and the advisor. The panelist will identify and discuss aspects of the typical offering, the related benefits and the potential risks associated with non-traded REITs. Also covered will be the investment process, including sales, suitability and required disclosures. Panelists will identify how certain rules and regulations apply to non-traded REITs and how due diligence can be critical in the process of identifying potential troubles. Understand the difference between a Reg D REIT, a Reg A REIT, and public non-traded REIT, and a DPP. Finally, the panelists will offer their perspectives on the various liquidation strategies that are used by non-traded REITs.

Moderator: Dan Breen, CFX Secondary Markets

Participants: Fred Baerenz, AOG Wealth Management; Darryl Steinhause, DLA Piper; Daniel Shaeffer, Cottonwood Residential

Survivalism is a movement of individuals or groups (called survivalists or preppers) who are actively preparing for emergencies, including possible disruptions in social or political order, on scales from local to international. Following that theme, this panel is for Regulatory Preppers and others who are interested in trends in regulatory audits with a focus on ground-level compliance and local examinations, including handling interactions with local exam staff, management and enforcement staff. How to best prepare for examination, manage the process, and provide documentation with an eye toward minimizing the pain. Will also cover "hot button" issues and areas where regulators are focusing their attention based on recent BD audit experience and regulatory pronouncements.

Moderator: Kevin Hull, Robert A. Stanger & Co.

Participant: Fernando Paiz, FINRA; Mark Atchity, JCC Advisors

This panel is for advisors who are new to alternative investments. We will discuss the fundamentals of cap rates, modified funds from operations, and other basic terminology, along with insider tips on where to find information on the SEC website for both public and private offerings. 

Facilitator: Melissa Sanders, Sanders Consulting

Presenters: Jan Ryan, Axxcess Capital; Catherine Bowman, The Bowman Law Firm

How must a master lease be structured to qualify for 1031 exchanges purposes? As master leases become increasingly creative in their structure to adapt to more management intensive asset classes, what are red flags to be on the lookout for that could cause 1031 exchange issues for investors?

Moderator: Bill Winn, Starboard Realty Advisors

Participants: Rahul Sehgal, Inland Private Capital Corporation; Adriana Olsen, Passco Companies; Ray Sun, Sandlapper

In an ever increasingly diverse world, good business means that your product, sales pitch and employees reflect the diversity in your customers. How you prepare your business model, employee training and compliance needs to address those diverse issues based on age, gender, ethnicity, sexual orientation and other factors. Come learn about how people in the industry are talking about these topics and share their experiences and successes. Be prepared to ask the hard questions and get the conversations started that are necessary in this day and age.

Moderator: Deborah Froling, Arent Fox

Participants: Chip Kispert, Beacon Strategies; Tom Embrogno, Docupace; Steve Dunlap, FolioDynamix

This session will identify detailed aspects of the DPP structure. We will examine typical varieties of offering structures and the corresponding related potential benefits and risk associated with investments in DPPs. 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 risk. DPPs cover a wide variety of industry sectors, including but not limited to real estate, energy, equipment and commercial debt. Because they have a low correlation to traditional asset classes, they can provide excellent diversification to a portfolio heavy in stocks when positioned correctly. Generally speaking, DPPs are traditionally illiquid and difficult to value, thus considered a risky proposition, but they absolutely have their place in an investment portfolio. This session will also address the legal, tax and regulatory issues surrounding DPP offerings. This is a not-to-be-missed session with some of the best minds in the industry!

Moderator: Larry Lyons, Kalos Financial

Participants: Greg Mausz, Preferred Apartment Communities; Jim Hynes, Rockspring; Todd Silver, Archon Capital Management

This session will introduce attendees to real estate investment products that  utilize conservation as a component of the program's investment and operating strategies. While this investment platform experienced significant broker-dealer demand and fundraising growth in the retail channel in 2016, the product has very distinct tax rules and due diligence risks that broker-dealers and RIAs must be mindful of. This session will explain this real estate program concept in terms of product structure, tax benefits, audit exposure, common structure mistakes and due diligence best practices.

Moderator: Brad Updike, Mick | Law

Participants: Alan Solon, EcoVest Capital; Ronald Levitt, Sirote & Permutt; Stephen Johnson, North American Land Trust

Before You Start: Resolving Operational and Regulatory Compliance Issues, Part I of ADISA's Direct Investments Boot Camp, serves as a primer for RIAs, broker-dealers and registered reps new to the world of direct investments. This lecture covers key regulatory and operational issues that must be addressed when incorporation non-liquid direct investments into a financial advisory practice. Objectives include: a) key definitions every firm must include in its policies and procedures, b) key regulatory issues that need to be addressed, and c) operational and supervisory procedures that should be created.

Facilitator: John Harrison, ADISA

Presenter: Darren Whissen, Atomi Financial Group

A growing number of broker-dealers are now engaging in life settlements -- either through investments in this non-correlated asset class, or by helping their clients value and sell their policies for significantly more than if they simply surrender or lapse the policies. Learn why broker-dealers are engaging in the secondary market for life insurance and how to protect your firm and your advisors. Topics will include: key compliance materials every broker-dealer should have, how to handle requests to participate in the secondary market, whether a broker-dealer should be allowing life settlement activities on their platform or as an OBA, and where to find reputable education and compliance resources for this market.

Moderator: Michael Coben, MLC Consulting Solutions

Participants: Bill McCance, Advisory Group Equity Services; Michael Freedman, GWG Holdings

Hear from investment bankers, broker-dealers and other market participants already operating in this space. Regulation A+ offers the opportunity to have a public, SEC-reviewed product in the alternative space, without the difficulties and expense of the '34 Act and state registration. This session is for broker-dealers who aim, or are eager to learn how, to grow their business by adding Reg A to their investment platforms. Distribution in the world of an unrestricted security, what about portals, expanding to non-accrediteds, secondary markets -- maintaining and creating value, FINRA and regulatory issues to consider, and more. Our panelists are active in this space and could be the connections to allow you to jump in.

Moderator: Rhys James, Kaplan Voekler Cunningham & Frank

Participants: Mark Atchity, JCC Advisors; David Dobkin, ASMX Capital; Maggie Chou, OTC Markets Group; John Hullar, WR Hambrecht + Co.

Presenters: Kevin Gannon, Robert A. Stanger & Co.; Taylor Garrett, Mountail Dell Consulting; Tom Voekler, Kaplan Voekler Cunningham & Frank

Moderator: John Grady

Panelists: Joe Price, FINRA; Dan Matthews, Washington State Securities 

Session aimed to introduce and/or enhance financial advisor knowledge on highly competitive private equity business. Session features discussion on building an introduction to private equity, structure, funding cycles, deal sourcing and underwriting, portfolio management, negotiated exit strategies, and more.

Moderator: Darryl Steinhause, DLA Piper

Participants: Tucker Twitmyer, Franklin Square Capital Partners; Craig Faggen, Triton Pacific Investment Corporation; Derek Peterson, Terra Capital Partners

Are rising interest rates good, bad or indifferent for alternative investments? Now that the Fed has taken action, how are you building changing interest rates into your models? Are sponsors creating solid forecasts with appropriate sensitivity analysis or hoping for the best? Our panel of experts will explore the true impact of rising interest rates on investment structure and underlying assets, and what should really be considered when evaluating and monitoring alternative investments. Audience participation will be encouraged.

Moderator: Melissa Sanders, Sanders Consulting

Participants: Bill Winn, Starboard Realty Advisors; John Odegard, Seattle Funding Group; Tim Symington, Hines Securities

Get the latest updates on tax rate increases that 1031 exchanges can defer and learn how to review your clients' tax returns to uncover their potential tax problems and help them decide if a 1031 is right for them.

Facilitator: Warren Thomas, ExchangeRight

Presenter: Jim Lund, Cabot Lodge Securities

New pricing rules that will make the true cost of alternative investments more transparent to investors are prompting non-traded REIT sponsors to change the way they compensate advisors who sell their products. How does this new regulation impact advisors and broker-dealers? How does it impact sponsors? Hear from the experts on this panel on how this new regulation is impacting the industry.

Moderator: Patrick Craig, Marshall & Stevens

Participants: Michael Miller, Sigma Financial; Jacob Mohs, FR Risk Management; Brian Mitts, Highland Capital Management; R.P. Bonham, Cole Capital

Business Development Companies (BDCs) offer investors the opportunity to diversify their portfolios with debt investments for stable and attractive income. In today's market, there are now a number of quality BDCs to choose from, that have differentiated investment strategies, portfolio construction, and management styles. Join this session to hear from industry experts, understand the benefits BDCs provide vs. REITs and other structures, and learn about the various strategies currently being deployed.

Moderator: Derek Peterson, Terra Capital Partners

Participants: PJ McDaniel, Highland Capital Management; Matt Malone, Franklin Square Capital Partners; Mark Gatto, CION Securities; Brian Buehler, Triton Pacific Investment Corporation

Come hear the latest research on important issues for our industry. Top professors from business schools have compiled and made clear, surprising results on pertinent asset classes which are important to your business -- presented in an understandable session kept moving and relevant by industry leaders.

Facilitator: Randy Anderson, Griffin Capital Corporation 

Presenter: Eli Beracha, Florida International University; Kimberly Goodwin, University of Southern Mississippi

This session provides an in-depth review of the most important aspects of 1031 exchange investment due diligence, including the analysis of the general market, real estate asset classes, local market demographics and growth trends, investment structuring, offering-specific metrics (such as cap rate, load, investment assumptions, reserves, etc.), sponsor track record, experiences, capabilities, etc.

Moderator: Louis Rogers, Capital Square Realty Advisors

Participants: Nati Kiferbaum, Inland Private Capital Corporation; Joshua Ungerecht. Exchange Right Real Estate; Bill Lowell, Lowell & Company

This is a "must-attend" session for all broker-dealers and RIAs who have included non-traded energy investments on their product platforms or within client portfolios over the past few years. This session is dedicated to exploring energy due diligence best practices in the wake of today's turbulent oil & gas markets. Experienced due diligence professionals and advisors will share how they are vetting energy programs and sponsors in the wake of challenging markets, and how they are managing the isks associated with such investments today. This session will also present the panel's views concerning the question of what sponsors/products are more likely to be able to execute their investment/operating strategies given the challenges of today's commodities markets.

Moderator: Brad Updike, Mick | Law

Participants: Ross Posner, Ridgewood Private Equity Partners; Joe Miller, Independent Financial Group; Tom Hille, JRL Financial

Moderator: Dan Breen, CFX Secondary Markets

Panelists: Kevin Shields, Griffin Capital Corporation; Bill Miller, Cole Capital; Brett Moody, Moody National Companies; Mitchell Sabshon, Inland Real Estate Investment Corporation

The implementation of Regulatory Notice 15-02 is underway, with April 11, 2016, being the mandatory effective date. This has a wide-ranging impact across the industry, but the rule changes will have a significant impact on two primary constituents in this space:

- Sponsors -- this impacts product offerings, internal committee structure, commission structures, internal operations, operating expenses, and will now incorporate use of third party appraisers

- Broker-dealers -- this impacts their fiduciary responsibilities, client disclosures, and earnings, and it places them in the role of educator to the investing public

In this panel, you will hear directly from sponsors and broker-dealers on how this impacts them directly.

Moderator: Patrick Craig, Marshall & Stevens

Participants: Timothy Witt, Concorde Investment Services; Kevin Gannon, Robert A. Stanger & Co.; Daniel Wildermuth, Kalos Financial; Michael Ezzell, Inland Securities Corporation

This session is for absolutely all ADISA attendees. Simply put, if you have clients, there is competition trying to lure them from you daily. It's critical you know the latest technology tools to retain relationships, plus expertly market your firm & services. By delegating this role out, those skills leave you when that employee does. Come learn how to effectively grow & protect your business while easily remaining compliant. Our premier experts will simplify the complex! By the end of this session, you will know how to: identify the appropriate call to actions for your firm, how to use email marketing most effectively, email design tips, one-stop connecting tools for all your social media like Buffer & IFTTT, what to really look for in a service provider, SEO tools, and best practices in using social media. Sound like another language? It won't after this session, we promise you! You'll get plenty of Q&A with some of the greatest minds in this field.

Moderator: Melissa Sanders, Sanders Consulting

Participants: Rick Friedrichs, Financial Media Group; Kimberly Levy, Concorde Investment Services; Damon Elder, Spotlight Marketing Communications

Asset-backed lending, simply put, is any type of lending secured by assets. Essentially the asset is the collateral for the loan, whether real estate, inventories, machinery, equipment, or even receivables. While banks and financial institutions have traditionally provided these services to their corporate clients, there are numerous opportunities available for other non-bank lenders to step into this market and provide the capital that is fundamental to these businesses and corporations, enabling them to thrive and expand. Through the process of supplying such business-essential financial, investors in programs focused on asset-backed lending and collateralized investment strategies today have the opportunity to achieve non-correlated returns not tied to the stock, bond, real estate, or commodities markets, further diversifying their investment portfolios. Attendees to this session will learn about some popular financing opportunities available to investors in today's market and how the experts underwrite and structure such transactions to manage risk and maximize portfolio returns.

Moderator: Howard Modell, IBN Financial Services 

Participants: Jim Ryan, Provasi Capital Partners; Ryan McCalley, SQN Venture Partners; Dean Crowe, Sierra Income Corporation

This session will identify best practices with respect to working in the arena of Regulation D Private Placement Offerings. The panelists will provide an outline of the key fundamental elements that should be considered and evaluated when reviewing and prior to working with a private placement offering. Industry experts will share their best ideas for what really works when it comes to implementing DPPs into one's practice. Collectively, industry participants, including issuers, sponsors, broker-dealers, registered representatives, investment advisors, attorneys and third-party analysts can participate and play key roles by providing essential input on how to conduct proper due diligence and evaluate investment offerings due to the unique nuances in each program. Because they have a low correlation to traditional asset classes, DPPs can provide excellent diversification to a portfolio heavy in stocks when positioned correctly. The key is learning from the best -- and the panelists are here to answer your questions for one day only!

Moderator: Rick Chess, The Chess Law Firm

Participants: Bryan Mick, Mick | Law; Brannon McPherson, Evolv Capital Partners; Craig Porter Rollins, LJCooper Wealth Advisors

If you think that cybersecurity, privacy and handling customer data is the IT Department's problem, it's not. Registered reps, especially independent registered reps with their own devices and infrastructure, will see enforcement for lax compliance. Get your questions answered by Tom Embrogno, Chief Security Officer of Docupace Technologies, along with other leading cybersecurity experts.

Moderator:

Participants: Tom Embrogno, Docupace; Kamal Jafarnia, W.P. Carey

In this session, our panel of experts will help you understand the red flags found in offering documents and due diligence materials from hands-on experience. Sometimes good experience comes from bad experience. Benefit from what they have found and learn how to avoid investments that are just inherently inferior. This session will cover REITs, BDCs and intervals funds. See session #37 for red flags in private placements, including traditional LLCs, 1031s, and oil & gas offerings.

Moderator: Larry Lyons, Kalos Financial

Participants: Chad LaFauci, Commonwealth Financial Network; Neil Greene, Newbridge Securities Corporation; Dave Laga, DFPG Investments

Does the proliferation of interval funds suggest that sponsors have found a reasonable replacement for the REIT/DPP structure? And if so, what responsibility might rest with due diligence, especially given the increased liquidity and disclosure found in a '40 Act Fund?

Moderator: Dana Woodbury, Buttonwood Investment Services

Participants: Russ Nesevich, Resource Realty; Rick Murphy, Berthel Fisher; Susan Habeeb, United Planners Financial Services of America; Randy Anderson, Griffin Capital Corporation

Investor Suitability and Transaction Compliance, Part II of ADISA's Direct Investment Bootcamp, takes a deep dive into establishing (and enforcing) investor suitability policies and procedures. In addition, a detailed review of what is required when completing a direct investment transaction will be discussed.

Facilitator: John Harrison, ADISA

Presenter: Darren Whissen, Atomi Financial Group

In this session, our panel of experts will help you understand the red flags found in offering documents and due diligence materials from hands-on experience. Sometimes good experience comes from bad experience. Benefit from what they have found and learn how to avoid investments that are just inherently inferior. This session will cover private offerings, 1031s, and oil & gas programs. See session #34 for red flags on REITs, BDCs and interval funds.

Moderator: Barbara Halper, FactRight

Participants: Tim Stickney, Lincoln Financial Group, Mark Kosanke, Concorde Investment Services; Dana Woodbury, Buttonwood Investment Services

Whether it is prohibited transactions or it is valuations, there are some important aspects of self-directed IRAs that are requirements for advisors, registered reps or broker-dealers that apply to their business and client portfolios, whether they custody the assets themselves (broker-dealers) or they sub-custody or use one of the self-directed IRA custodians. This session will have a discussion as to who has the current responsibilities and how the industry should work together across all aspects of the industry, including but not limited to managing prohibited transactions, valuations, transaction efficiency and annual reporting requirements.

Moderator: Greg Mausz, Preferred Apartment Communities

Participants: Rajeev Kotyan, Innovative Advisory Group; Bill McCance, Advisory Group Equity Services; Jason DeBono, NuView IRA

A discussion with friends about how firms are handling supervisory and compliance obligations for products on display at these types of conferences. Can you trust the selling rep? What are compliance professionals and firm management doing? How are you coping with multiple standards? What is falling through and garnering later regulatory attention? What is becoming an issue in arbitration? How is insurance evolving and is it affecting product sales processes? What does your future arbitration lawyer think that you could be doing better?

Moderator: Kevin Hull, Robert A. Stanger & Co.

Participants: Brandon Reif, Winget Spadafora & Schwartzberg; Sheri Pontolillo, Integro Insurance; Klaus Siepmann, Gradient Securities; Kimberlee Levy, Concorde Investment Services

Learn what specialty options are available in the REIT structure, specifically explore the hospitality sector and REITs available there, plus those based on international properties and how that structure works.

Moderator: Todd Snyder, Snyder Kearney

Participants: Norman Leslie, Lodging Opportunity Fund REIT; Suneet Singal, First Capital Real Estate Investments; Todd Silver, Archon Capital Management; Russell Platt, Forum Partners Investment Management

This session highlights the various 1031 investment strategies that are available to investors today, including value-added business plans, long-term holds, 721 exchange, REIT aggregation, LLC roll up and refinance, etc. How do these various strategies differ and what impact do they have on individual investors as it relates to capital and income preservation and future tax deferral?

Moderator: Joshua Ungerecht, ExchangeRight Real Estate

Participants: Rahul Sehgal, Inland Private Capital Corporation; Mike Bendix, DFPG Investments; Todd Williams, Hamilton Point Investments

As a highly requested topic from financial professionals attending the ADISA Symposium, this session will focus on best-of-breed strategies to best manage and grow your business leveraging technology. Join us to learn more about how systems and processes support the delivery of extraordinary value and client engagement in our dynamically changing times. Our industry leaders will share insights on how to build your business for sustainable growth and business continuity.

Moderator: Kelly Knight, Concorde Investment Services

Participants: Steve Dunlap, FolioDynamix; Corey Pugh, Avision Technologies; Rajeev Kotyan, Innovative Advisory Group; Greg Gilbert, Infinity Financial Services

Is it the sponsor or the economy? Is it repeatable? This session will provide the tools necessary to evaluate prior performance. You may not be able to predict the future, but it is helpful to understand the past for hints of what is to come.

Moderator: Jan Ryan, Axxcess Capital

Participants: Catherine Bowman, The Bowman Law Firm; Bill Shopoff, Shopoff Realty Investments; Peter Magnuson, Securities America

Despite the challenges of today's oil/gas pricing markets, there are some sponsors that are positioning themselves to take advantage of unique investment opportunities that present themselves in times of lower commodities process. Such programs include opportunity funds, non-traded MLPs, and energy 1031 products. This session will explain to BDs, RIAs, their reps and advisors where the investment "opportunities" are in challenging pricing environments.

Moderator: Brett Evans, Evans & Kob

Participants: Michael Greer, Waveland Capital Group; Woody Soemantoro, MDS Energy Development; Matt Iak, U.S. Energy Development Corporation

Facilitator: Darryl Steinhause, DLA Piper

Keynote Presenter: Marcy Maslov, Empowerment Unlimited Coaching

"Peak Performance -- How to Increase Your Business by 80 percent in Eight Weeks"

ADISA's popular gathering of broker-dealers. This year's program features follow-up work on exam culture and ethics with relevant example for your everyday business.

Facilitator: Larry Lyons, Kalos Financial 

Speaker: Marcy Maslov, Empowerment Unlimited Coaching

ADISA's popular gathering of broker-dealers. This year's program features follow-up work on exam culture and ethics with relevant example for your everyday business.

Moderator: Rob Kaplan, Kaplan Voekler Cunningham & Frank

Participants: Matt Leiter, GK Development; Steve Sadler, Allegiancy; Warren Martin, Cherry Bekaert; Scott Smith, FactRight

This session will focus on the fast growing creation and use by advisors and investors of so-called "liquid alternative" mutual funds, which are SEC-registered funds that typically employ strategies that were once associated only with hedge fund, commodity pools, and other investment vehicles. Panelists will discuss what they are, as well as how advisors and investors use them; in addition, the session will include a discussion on how to best understand and assess these funds, and where they fit on a firm's platform, as well as in investor portfolios.

Moderator: John Grady

Participants: Brian Mitts, Highland Capital Management; Jacob Mohs, FR Risk Management; Alfredo Gomez, National Planning Corporation

Seniors have a right to be treated as competent investors so that you can provide them with suitable investment options, yet there are those who may be vulnerable and unable to make good decisions in that process, and who may be in need of protection under vulnerable adult laws. Selling alternative investments to senior investors is not for the faint of heart. Learn the landscape of obligations and land mines, as well as safe harbors for when you are sitting across the table from a prospective senior investor or one with assets under management.

Moderator: Deborah Froling, Arent Fox

Participants: Thomas Jahncke, Passco Companies; Barbara Halper, FactRight; Kathryn Jacobson, Aon Risk Solutions; Lilian Morvay, IBDC Consulting

Moderator: Brandon Reif, Winget Spadafora & Schwartzberg

Panelists: Mike Bendix, DFPG Investments; Jason Kavanaugh, Concorde Investment Services; Peter Blum, Ladenburg Thalmann