*As of 7/11/17

Download the 2017 Due Diligence Forum onsite program here.

Thursday, July 13

7:45-8:30 am

8:30-8:45 am

Dave Laga, DFPG Investments, Due Diligence Forum Chair
John Harrison, Executive Director/CEO, ADISA

8:50-10:10 am

How does the DOL’s Fiduciary Rule, which is now in effect, impact the way broker-dealers do business with their retirement clients?  What do broker-dealers, advisors and product sponsors have to do to protect themselves while serving their clients?  What will be the consequences of any mistakes that might occur during the transition period?  

Learn more about the important responsibilities that broker-dealers and others have under the Rule. Hear about the impact of future implementation dates and deadlines, as well as the extensive due diligence procedures as they relate to alternative investments that are already going on because of the Rule.

Other legislative & regulatory issues, and how they affect alternative investments directly and indirectly, will also be discussed.

Moderator: Catherine Bowman, ADISA Legislative & Regulatory Committee Chair, The Bowman Law Firm
Panelists: John Grady, ADISA President, DLA Piper; Tom Rosenfield, Hillstaffer; Robin Traxler, Financial Services Institute

10:15-10:45 am

10:45-11:45 am

To fully evaluate the merits of an investment strategy, one must first understand the sector in which the strategy will be deployed. Learn where real estate, private equity, private credit, energy, and other sectors represented throughout ADISA are in the current cycle, and where the opportunities and headwinds may lie.

Speakers: Brian Buehler, Triton Pacific Investment Corporation (private equity); Alan Feldman, Resource (real estate); Matt Iak, U.S. Energy Development Corporation (energy); Don Salvino, Alcentra (private credit); Bill Acheson, GWG Holdings (life settlements)

11:50 am-12:40 pm

"Recent Behavioral Finance Research and What It Means for Investment Advice"

Highlights of research on market reactions to earnings, dividend announcements, social media, news, news, and more news, and the effect advisors' behavior toward investors. How is decision-making affected overall, and what does this imply for the future?

Dr. Shue is a Professor of Finance at the Yale School of Management. She earned a Ph.D. and M.A. in Economics and an A.B. in Applied Mathematics (summa cum laude) from Harvard University. Prior to her doctoral studies, she worked as an analyst at Weiss Asset Management.
Shue’s academic interests lie at the intersection between behavioral economics and empirical corporate finance. Her research has explored executive social networks, incentives and executive compensation, the gambler’s fallacy, M&A, corporate social responsibility, loan screening, and errors in voting. Her research has been awarded the AQR Insight Award, the Wharton School-WRDS Award for Best Empirical Finance Paper, and the UBS Global Asset Management Award for Research in Investments. Her current research examines persuasive news distortion by firms, contrast effects in market reactions to earnings announcements, and the Peter Principle in promotion tournaments.

Kelly Shue, Ph.D.
Professor of Finance
Yale School of Management

12:40-2:10 pm

2:10-3:20 pm

The securitized 1031 market continues to grow and evolve. Mountain Dell Consulting will present the latest 1031 market statistics and trends, followed by highlights of the overall  technical aspects of a 1031. As a capstone to the exploration, a forum of expert attorneys will discuss and debate a number of 1031-related topics, including tax opinions, master leases and springing LLCs.

Presenter #1: Taylor Garrett, Mountain Dell Consulting, with a 10-minute 1031 Market Overview
Presenter #2: Mark Kosanke, Concorde Investment Services, with a quick review of the technical aspects of a 1031
Further analysis with panelists: Dan Cullen, Baker & McKenzie; Tom Voekler, Kaplan Voekler Cunningham & Frank; Steven Meier, Seyfarth Shaw

3:25-3:55 pm

4:00-4:55 pm

Crowdfunding, Reg A+ and issuer-direct sales are just some of the examples of how capital formation is evolving. Learn more about where this evolution is going, and what the potential opportunities are for those who choose to adapt, as well as what the potential threats are for those who do not.

Moderator: Brandon Balkman, Orchard Securities
Panelists: Michelle Langer, Cottonwood Residential (sponsor of Reg A+); Darryl Steinhause, DLA Piper (attorney with 506c experience); Aric Wenzl, Mick | Law (third party with broad knowledge); Mat Dellorso, WealthForge (BD/MBD/506c/crowdfunding)

5:00-6:30 pm

Friday, July 14

7:30-8:30 am

8:00-8:55 am

Open to Broker-Dealers only.
ADISA's popular gathering of Broker-Dealers who will discuss relevant issues affecting the Broker-Dealer community.

9:00-9:50 am

An interactive discussion with the industry's third-party due diligence providers who will provide tricks-of-the-trade and answer questions when it comes to monitoring the performance of alternative programs.

Presenters: Kevin Eades, Snyder Kearney; Jacob Mohs, FactRight; Catherine Bowman, The Bowman Law Firm

9:55-10:45 am

The due diligence process may be the beginning point, but it's certainly not the end when it comes to the obligations of broker-dealers and RIAs who offer alternatives. Rep education, compliance, suitability and fiduciary duty are just some of the post-due diligence responsibilities that firm executives and compliance professionals will discuss during this session, which features panel analysis of audience voting/response.

Moderator: Erin Gray, CNL Securities
Speakers: Vali Nasr, Claraphi Advisory Network; Larry Lyons, Kalos Financial

10:45-11:15 am

11:15 am-12:10 pm

Listing vs. merger? Affiliated vs. third-party? Learn what's on the decision table when it comes to evaluating liquidity events through real world examples.

Presenters: Charlie Waterman, FS Investments; Denise Faber, Inland Real Estate Investment Corporation; Mark Selman, Cole Capital

12:10-12:25 pm