With Special Guest Anastasia Amoroso 

Managing Director, Chief Investment Strategist
iCapital Network

Anastasia Amoroso is a Managing Director and the Chief Investment Strategist at iCapital Network. In this role, she is responsible for providing insight on private market investing opportunities for advisors and their high-net-worth clients. Previously, Anastasia was an Executive Director and the Head of Cross-Asset Thematic Strategy for J.P. Morgan Private Bank, where she identified and invested in emerging technologies and disruptive trends such as artificial intelligence, decarbonization, and gene therapy. She also developed global tactical ideas and implemented institutional-level implementation across asset classes for clients. Anastasia regularly appears on CNBC and Bloomberg TV and is often quoted in the financial press. Prior to this, Anastasia served as a Global Market Strategist on the J.P. Morgan Funds Global Market Insights Strategy team. She also managed global tactical multi-asset portfolios and performed investment due diligence at Merrill Lynch, as well as provided consultative financial advisory services to high-net-worth families and businesses. Earlier in her career, Anastasia held several financial analysis, research, and strategic business planning positions with both private and public sector organizations. She graduated summa cum laude from the University of New Mexico and is a CFA charterholder.

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 dept. 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, Preferred Capital Securities

Moderator: Greg Mausz, Preferred Capital Securities
Participants: Bill Leitner, Leitbox Storage Portfolio Partners; Kevin Greene, Spring Hills Holdings; Brian Nelson, Versity Investments

As financial advisors and fiduciaries, you serve a greater good -- the financial well-being of your clients. You are tasked with anticipating global opportunity and navigating change while striving to exceed your clients' expectations. It is a tremendous responsibility with exceptional rewards. Advisors can be found among a family's most trusted relationships, participating in critical decisions and providing guidance on complex issues.

The price of impact investing has the potential to affect the financial services industry in profound and permanent ways. For advisors equipped with the proper tools to engage and deliver results, it equals tremendous opportunities for their business with existing clients and the next generation. In this session, you will learn about the basics of impact investing that can serve as a foundation for taking your business to the next level with your clients. 

Session coordinator: Gloria Nelund, TriLinc Global

Facilitator: David Johan, Doceo Wealth
Presenter: Jeff Shafer, CommonGood Capital

The ever-changing world of technology presents simultaneous opportunities and hurdles. Hear what current technologies are available, what is on the horizon, and what the IBD/RIA community is looking to invest in to help create greater efficiencies and value-adds for their clients and businesses.

Session Coordinator: Sherri Cooke, iCapital Network

Participants: Andrew Barnum, iCapital Network; Angie Fisher, CIM Group; Craig Covington, DAI Securities; Bill Robbins, WealthForge

The emergence of cryptocurrencies and decentralized finance is regulatory discussed in the media, and within our industry. In a time when investors are constantly asking how and when to invest in this new asset class, this panel will seek to go a mile wide and an inch deep on how to navigate the world of digital assets. Whether you are a sponsor structuring products, a broker-dealer conducting due diligence, or an advisor trying to give guidance to investors, there will be something for everyone. Come and join the discussion.

Session coordinator: Taylor Garrett, Orchard Securities

Moderator: Kevin Bradburn, Orchard Securities
Participants: Jacob Heidkamp, FactRight; Andrew Balthazor, Holland & Knight; Sam Seaman, Deloitte Tax

How can financial advisors help clients define and align their legacy and investment goals? Gain insight and practical tips to guide affluent clients in identifying their philanthropic and legacy vision with their investment strategy by incorporating impact investments and tax-advantaged products. Hear from a leading philanthropic strategist and a wealth advisor during a conversational session designed to foster an understanding of defining worth beyond dollars.

Session coordinator: Heidi Wheatley, Keystone National Properties

Moderator: Mike Packman, Keystone National Properties
Participants: J. Colin Sturgis, Signature FD; Elizabeth Burdette, Signature FD

Interval funds offer the ability to invest in unique strategies to help meet portfolio goals. We will review the current situation with interval funds and explore several feature you may not know about: low minimums in comparison to other private investments, offering timing parameters, tax reporting, and 40 Act Fund regulation. Learn the entire story of interval funds from storied experts in the field.

Session coordinator: Michael Underhill, Capital Innovations

Moderator: Michael Underhill, Capital Innovations
Participants: Terrence Davis, Greenberg Traurig; Randy Anderson, Griffin Capital Company

Session coordinator: John Harrison, ADISA

Presenters: Kevin Gannon, Robert A. Stanger & Co.; Taylor Garrett, Mountain Dell Consulting; Mike Kell, iCapital Network; Mike Andrews, SS&C Technologies

Our plate of legislative & regulatory action has never been so full. Reports on the latest happenings are featured in "The Tonight Show" format with serial guests to cover the latest in budget negotiations, tax issues (1031 and step-up basis, etc.), what’s the story on alts provisions in IRAs (§138312), and how the media will report it all.  

Participants: Thomas Rosenfield, JD, HillStaffer; Owen Caine, HillStaffer; Larry Sullivan, Passco Companies; Catherine Bowman, The Bowman Law Firm; John Harrison, ADISA

Hear from professionals on the front lines of impact investing on why incorporating meaningful investment options around ESG/SRI and other impact-related areas into your offerings is no longer a "nice to have," but increasingly a "must have." To remain relevant and competitive in a quickly changing demographic landscape of high-net worth investors, advisors should be well-versed in how clients can seek both financial and societal returns on their investments. Sharna Goldseker, Founder and Vice President of 21/64; Elizabeth Burdette, Director of Client Engagement for Signature FD; and Jeff Shafer, Co-Founder and CEO of CommonGood Capital, will share their insights on why providing a platform for clients to both "do well" and "do good" is a differentiator in the marketplace.

Session coordinator: Elizabeth Burdette, Signature FD

Presenters: Elizabeth Burdette, Signature FD; Jeff Shafer, CommonGood Capital; Eric Rice, BlackRock

Recent deals that have gone south have created market pain and uncertainty about alternative investments for broker-dealers and RIAs. Without alts, BDs/RIAs lose some of their advantages. What can be done to understand better the investments being offered, and how can the sponsors share accountability?

• Review key due diligence drivers that indicate what type of investment is being purchased: senior, mezz, pref, equity
• Where do your investors sit within the capital stack?
• Can the investors be moved within the capital stack?
• What are the appropriate yield expectations relative to capital stack position, and how to use historical market yields as a check and balance?
• QT monitoring: should we require attestations of capital stack position and debt ratios?
• Where do we go from here: some proactive solutions experts believe could help solve the situation?

Session coordinator: Ray Davis, Red Oak Capital Holdings

Moderator: Nick Duren, Crescent Securities
Participants: Bryan Mick, Mick | Law; Ray Davis, Red Oak Capital Holdings; Richard de Silva, Lateral Investment Management; Myra Nicholson, International Assets Advisory

The panelists for this session will be representatives from well-known real estate investment companies that have been in the market pre-pandemic and current. We will discuss what market trends may have been impacted by the COVID pandemic, and specifically, what long term trends may have been accelerated. We will then move to how they were able to proactively and/or reactively position their portfolios for the greatest success through and beyond the COVID period.

Session coordinator: Derek Peterson, MCI Megatel Capital Investments

Moderator: Derek Peterson, MCI Megatel Capital Investments
Participants: Steve Case, Bourne Financial Group; Michael Schwartz, SmartStop; Paul Barausky, Sealy Investment Securities

This panel will discuss pitfalls that most industry participants don’t know can be problems because “everyone is doing it.” The discussion will cover various issues from improper advertising, contemplation enforcement actions, sales without disclosure, and what happens when you have a wayward Fannie.

Session coordinator: Darryl Steinhause, DLA Piper

Presenters: Darryl Steinhause, DLA Piper; Cameron Hellewell, Orchard Securities; Daniel Cullen, Baker & McKenzie; Mike O'Toole, Discipline Advisors; Myra Nicholson, International Assets Advisory

Understanding when and why workouts happen, and the types of economic factors at play, can help you better navigate this changing climate. Leaders who have worked through these processes and challenges throughout a number of real estate cycles will discuss:

- The causes of defaults and workouts, how to recognize a zombie asset within a portfolio

- Which types of borrowers and circumstances are most likely to face the situations

- The pros and cons of a workout scenario

- Blind spots due diligence may miss, and advice for borrowers facing upcoming maturities or potential distress situations

- When is the right time for an asset manager to cut bait and take a loss at the asset level, and how can that action be accretive to portfolio performance?

Session coordinator: Nick Duren, Crescent Securities

Moderator: Rob Kaplan, Kaplan Voekler Cunningham & Frank
Participants: Gary Bechtel, Red Oak Capital Holdings; Richard de Silva, Lateral Investment Management; Rob Woomer, Peachtree Hotel Group; Bill Shopoff, Shopoff Realty Investments

Evolution in REIT equity markets has expanded opportunities beyond traditional common stock issuance. In this panel, we will explore the rise of preferred equity offerings and the advantages and disadvantages they pose for REITs and investors alike. Where do these vehicles fit relative to a REIT's overall capital strategy? How are they proceeds being used? How much is too much? What are the "red flags" investors should look out for?

Session coordinator: Jacob Heidkamp, FactRight

Moderator: Jacob Heidkamp, FactRight
Participants: Dustin Zachmeyer, Bluerock Real Estate; Carly Hoeler, Ashford Securities; Greg Mausz, Preferred Capital Securities

Those of us that have lived through a real estate bubble have learned valuable lessons that help shape the deals created today. Hear from real estate professionals on strategies for safeguarding past and current deals and how to handle real estate when things don't go as planned. Our panel will share how they plan for the down side of real estate cycles: decreasing rents, rising interest rates, increasing vacancies, and how to find value in all parts of the cycle.

Session coordinator: Denise Kramer, Inland Securities Corporation

Moderator: Ray Sun, Dempsey Lord
Participants: Michael Ezzell, Inland Securities Corporation; Andy Wang, Passco Companies

Join the RIA Advisory Council (RIAs and Duals only) for peer discussion of obstacles that impact RIAs looking to allocate to alternative investments. Some of the topics we will cover are:

- Technology
- Compliance
- Operations
- Plus an added due diligence presentation from Travis Hicks

Session coordinator: Craig Covington, DAI Securities

Presenters: Rajeev Kotyan, Innovative Advisory Group; Craig Covington, DAI Securities

Let's get practical about impact investing. Come learn about a couple impact theme frameworks you can use to discuss with your clients. Also hear from three different experts in their respective fields share the need and opportunity for investment and impact in affordable and workforce housing, sustainable infrastructure in the U.S., and small to medium sized businesses across the globe. Clients are increasingly looking to do well by doing good and, as advisors, you can play an important role in helping them do that.

Session coordinator: Jeff Shafer, CommonGood Capital

Participants: Jeff Shafer, CommonGood Capital; Russ Ginise, Alliant Strategic Investment; Michael Underhill, Capital Innovations; Gloria Nelund, TriLinc Global

This session will cover the income tax benefits and return characteristics of tax advantaged products such as DSTs, energy/1031, QOZs, solar/renewables, and other products. In addition to discussing the structure and benefits, we'll also discuss what can go wrong in these products and how to manage the risks through good evaluation and due diligence practices.

Session coordinator: Brad Updike, Mick | Law

Moderator: Brad Updike, Mick | Law
Participants: Tom Voekler, Kaplan Voekler Cunningham & Frank; Jack Hollander, APX Energy; Jay Frank, Cantor Fitzgerald

Cannabis (with the exception of hemp containing no more than 0.3% THC by dry weight) is illegal under U.S. federal law, but despite the challenge, the industry was one of the fastest growing sectors in 2020, employing between 350,000-400,000 full-time workers. Of the 29 states with operational cannabis programs during the onset of the COVID-19 pandemic, all but one deemed cannabis an "essential" business, paving the way for record sales. With record sales comes the potential for states to collect billions in tax revenue to help fund their budgets, so additional state legalization is expected. While federal legalization may be years away, potential reform at the federal level could pave the way for increased investor participation. Given the elevated regulation and illegal status at the federal level, how can investors gain access to this area of the market? In this session, will will investigate the risks and opportunities within the cannabis space.

Session coordinator: Chris Reece, Arcview Capital

Moderator: Chris Reece, Arcview Capital
Participants: Kyle Shenfeld, Rainbow Realty Group; Martin Dozier, Alston & Bird; Howard Goodwin, MD, Intrinsic Capital Partners

This session will focus on learning which factors drive manager selection in the due diligence process of established vs. emerging managers. Instead of just emphasizing quantitative analysis, the participants will discuss the relative importance of other factors like qualitative assessment and operational factors. Many practitioners agree that due diligence is a much more complex process that cannot be encapsulated in just quantitative analysis of past performance. While quantitative tools are helpful, returns and manager skill are more nuanced and unique than can be explained through even sophisticated empirical analysis. The goal of this session is to discuss these nuances and unique factors.

Session coordinator: Bart Malcom, MBD Solutions

Moderator: Bart Malcom, MBD Solutions
Participants: Daniel Wolfe, Snyder Kearney; Joe Burns, iCapital Network; Aric Wenzl, Mick | Law

Working from home presents data security challenges (pre- and post-COVID). And it's YOUR job to protect data! In this session, you will see individual RR/IAR best practices in cybersecurity, cloud data storage, email encryption and sub doc preparation/submissions. Just because a wholesaler tells you to email sub docs while he is traveling, doesn't mean you should do it. And what about these cool new companies that want your client's private data?

Session coordinator: Mike Huisman, UMB Bank, Institutional Banking

Moderator: Michael Huisman, UMB Bank, Institutional Banking
Participants: Ned Montenecourt, Phoenix American Financial Services; Karen Templeton, Forrest Wealth Strategies; Menop Nguyen, Secured IT Solutions

Qualified Opportunity Zones (QOZs) were created as part of the Tax Cuts and Jobs Act in 2017. QOZs are designed to serve as an economic development tool in which they create jobs and contribute to growth in distressed communities around the country. By providing attractive tax benefits to investors who invest in Opportunity Zone Funds, these investments are used to revitalize local communities and spur economic growth. This panel will address the QOZs and their impact, and what we predict for the future of Opportunity Zones, including how QOZs made a positive impact on the communities, how their impact is being tracked, and the true long-term benefits of QOZs.

However, QOZs have faced some criticisms in that they aren't making the positive impact that they were designed to do, and some politicians have openly talked about getting rid of the Opportunity Zone program altogether.

This panel will address the QOZs and their impact, and what we predict for the future of Opportunity Zones, including but not limited to:

- Since its creation, how have the QOZs made a positive impact on the communities?
- How are QOZs tracking their impact?
- What do you think are truly the long-term benefits of QOZs?

Session coordinator: Angela Hwang, Urban Catalyst

Moderator: Jimmy Atkinson, OpportunityDb
Participants: Daniel Oschin, Shopoff Realty Investments; Erik Hayden, Urban Catalyst; Stewart Loewenstein, Parsonex Capital Partners

While public offerings provide investors with the benefit of public filings, they also impose strict requirements on investment offerings that may limit investment opportunities and increase operating costs, which many dilute the returns they are able to generate. On this panel, we will explore the advantages and disadvantages of public and private offerings, and why sponsors and investors may choose one over the other. How do private offerings sponsors provide transparency to investors? How have regulatory requirements for private placements evolved to provide greater protection and opportunities for investors?

Session coordinator: Scott Street, Griffin Capital Company

Moderator: Catherine Bowman, The Bowman Law Firm
Participants: Howard Hirsch, Morris Manning & Martin; Dave Laga, DFPG Investments; Corey Maple, Legendary Capital

MARCI ROSSELL
Expert Economic Forecaster, Former CNBC Chief Economist and Co-Host of SQUAWK BOX

Marci Rossell is a world-renowned economist and financial expert who electrifies audiences nationwide, speaking candidly on the nexus of economics, politics, culture, and the media.

She honed her animated style serving as the popular, lively Chief Economist for CNBC, where she became a household name and a must-watch source of financial news. The former co-host of the well-known “pre-market” morning news and talk show Squawk Box, Rossell is revered for taking complex economic issues, often dull in the button-down business press, and making them relevant to people's lives, families, and careers.

Exclusively represented by Leading Authorities speakers bureau, she discusses America’s current and future role in the global economy, factors responsible for recessions, how Washington influences Wall Street and the markets, and the specific forecast for the U.S. economy over the course of the next 18-24 months. She is also well-versed in the stock market, investor behavior, consumer confidence, and what accountable capitalism looks like this year and beyond. With a knack for making complex topics more digestible, Rossell’s authentic, high-energy talks deliver a stimulating and often optimistic economic outlook, providing an insider’s perspective on key factors of economic disruption. Her creative, thought-provoking commentary will ring in the audience members' ears well after she leaves the stage.

Prior to her career in broadcast journalism, Marci served as Corporate Economist and Investment Spokesperson for OppenheimerFunds, one of the nation’s largest mutual fund companies. Her success in the private sector led to her economic commentary being revered and ultimately her appointments on nationally syndicated talk shows. Before moving to Wall Street, she was an expert witness for Deloitte & Touche in court cases involving economic issues. Marci began her career as an economist with the Federal Reserve Bank of Dallas.

Marci earned a Ph.D. in Economics from Southern Methodist University, where she was named one of the Young Alumni of the Year in 2002. She brings a world of experience — from Main Street to Wall Street — when discussing the U.S. economy, international events, and movements in capital markets.

Sponsored by:

Joel Zeff creates energy. He is a dynamic speaker, improvisational humorist and author. His interactive performances invite members of the audience to participate in hilarious improvisational exercises that illustrate Joel's central message: That organizations and individuals should CELEBRATE every day successes to increase collaboration, productivity, passion and innovation.

Since 1997, Joel has inspired audiences from Wells Fargo to Samsung to KPMG and even the IRS. Yes, the IRS. Joel is a masterful public speaker and a nationally renowned motivator, lifelong humorist and improvisational actor.

His career is a search for fun and passion. He quickly realized the importance of both at his first jobs delivering the hometown newspaper and cleaning up trash at a suburban movie theater.

He started his professional career as a newspaper journalist and public relations executive. In 1994, Joel went out on his own as corporate communications specialist. He helped clients with their employee communications, media relations, strategy and customer marketing. Throughout the consulting process, Joel realized his clients – many of them high-level technology and telecommunications firms – needed more than marketing and public relations strategy. Many of his clients’ employees were starving for fun, passion and new perspective on finding success.

At the time, Joel was having fun on the weekends as a comedian. Through friends, he discovered improvisational comedy. One of his clients (a large technology company) knew Joel performed comedy on the weekend. The client asked him to play some improvisational games before dinner for a group of high level executives. He brought a fellow comedian and a corporate speaking career was born.

He connects to his audience with humor that has them laughing so uncontrollably that their mascara runs, their cheeks hurt, and their bellies ache. And he doesn't do it alone. Volunteers from the audience join him on stage and play an integral role in an improvisation game in front of hundreds or thousands of people—something the audience members have never done. He expects nothing less than their success. He expects the volunteers to focus and work together as a team; communicate effectively; positively support each other; and take responsibility.

This might be a little scary -- apologies in advance: plan your arbitration and enforcement trial exhibits now! That colorful marketing materials that is necessarily thinner on disclosure and more "salesy" than the offering document will be made to be an issue. In this session, we will try to give individual RR/IARs some thinking points in the realm of alternative investment marketing materials. Applicable rules, pitfalls, approvals, filing requirements. What you should expect from your sponsor partners. Home cooked marketing materials and how that can be used to further your practice -- or blow it up. And, finally, since chainsaw juggling is on the internet, it must be compliant if I do the same thing, right?

Session coordinator: Kevin Hull, Robert A. Stanger & Co.

Moderator: Kevin Hull, Robert A. Stanger & Co.
Participants: Damon Elder, Spotlight Marketing Communications; Cameron Hellewell, Orchard Securities; Myra Nicholson, International Assets Advisory

The panelists for this session will be representatives from well-known credit managers who will share their views on the current state of credit markets and where they are finding opportunities. The panel will look across multiple spectrums of the credit market, including public and private, originated and secondary, and domestic and international.

Session coordinator: Scott Street, Griffin Capital Company

Moderator: Jacob Heidkamp, FactRight
Participants: Randy Anderson, Griffin Capital Company; Steve Kantor, S2K Financial; Louis Greco, CION Investments

Alternative investments continue to evolve, providing investors with an expanding opportunity set of investments, vehicles and structures. The change in the landscape and opportunity set requires investors be aware of the benefits and drawbacks of the various structures. Matt Harris and Michael Underhill will discuss the positives and negatives of listed and non-listed alternative investments.

Session coordinator: Matt Harris, Aperture Research Partners

Presenters: Matt Harris, Aperture Research Partners; Michael Underhill, Capital Innovations

Let's take a close look at the issues involving meeting clients online or through advertising. Online is the likely place because who runs newspaper ads anymore? New clients are wanted, but in the world of alts with rules on general solicitation, individual RR/IARs need to know what a 'substantive relationship' is and make sure they have one before they start recommending product. This session will go over recent enforcement actions, as well as define what a substantive relationship is and how to get one, suitability issues and why it's a good idea to write up a record in your file for Reg BI.

Session coordinator: Karen Templeton, Forrest Wealth Strategies

Moderator: Karen Templeton, Forrest Wealth Strategies
Participants: Lori Kamen, Aurora Securities; Bart Malcom, MBD Solutions

This panel will analyze the pros and cons of being an active manager, evaluating strategies for rotating the portfolio between sectors, geographic markets, etc. versus being a passive manager with long-term convictions and riding the wave through market cycles. We will also discuss how the investment structure may impact a portfolio manager's ability to be a successful active manager. We will then move to how the managers represented have been able to proactively and/or reactively position their portfolios for the greatest success through and beyond the COVID period.

Session coordinator: Dustin Zachmeyer, Bluerock Real Estate

Moderator: Catherine Bowman, The Bowman Law Firm
Participants: Dustin Zachmeyer, Bluerock Real Estate; Randy Anderson, Griffin Capital Company

Join the BDAC for peer discussion of regulation obstacles broker-dealers face in approving and allowing reps to solicit alternative investments.

Topics to cover are:

- Advertising/soliciting alternatives
- Educating reps on product and client suitability
- Educating reps on the importance of due diligence for each product they solicit
- Operations -- and electronic submission
- Regulatory updates and how broker-dealers are implementing policies and procedures for new regulations

Session coordinator: Ann Moore, International Assets Advisory

Moderator: Ann Moore, International Assets Advisory
Participant: Brandon Balkman, Orchard Securities