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The IPA recently brought together leading asset managers, tax attorneys, regulators and due diligence professionals to offer a deep dive on Qualified Opportunity Zone Funds. Working in partnership with AI Insights, we reached out directly to our broker-dealers and RIAs members to understand how we could strengthen their knowledge and assessment of this highly sought-after investment opportunity. This unique education forum would not have been possible without the support of our generous sponsors – we truly value your membership and dedication to these topics!

Tony Chereso, President and CEO of the IPA, at the IPAForum on February 12-13, in Dallas.

Based on the reaction to this event, the continued daily media attention and a geographic dispersion across all 50 states – it is clear that Qualified Opportunity Zones have captured the imagination of thousands of industry participants. But we must not lose sight of the ultimate purpose, value and risks associated with this exciting new investment opportunity. The tax incentives and potential savings are just a part of the conversation – but they are not a substitute for a sound investment. Diligent asset management and educated market participants are critical to serving the needs of investors.

Qualified Opportunity Zones have been heralded as one of the most significant economic development strategies in decades. But with hundreds QOZ funds already registered with the SEC, representing more than $18 billion in potential investment, significant questions about the regulatory framework and broker-dealer due diligence requirements remain.

Since the passage of the Tax Cuts and Job Act, the IPA has continued to bring tax insights and expertise to the PDI community. Toward that end, we have engaged leading coalitions such as the Economic Innovation Group (EIG) a bipartisan public policy organization ​founded in 2013, ​combining innovative research and data-driven advocacy to address America’s most pressing economic challenges. EIG has worked closely with policymakers on both sides of the aisle, including in the development of the bipartisan In​vesting in Opportunity Act (IIOA), Federal legislation that would put billions of dollars in ​new private investment to work in distressed communities throughout America.

Additionally, the IPA is part of the Novogradac Opportunity Zone Working Group.  Novogradac is a national professional services organization consisting of affiliates and divisions providing professional services that include certified public accounting, valuation and consulting.  The firm has worked extensively in the affordable housing, community development, historic preservation, opportunity zones and renewable energy fields, providing tax, accounting, audit and valuation services to affordable housing developments. Novogradac has consulted for more than 25 years on thousands of real estate projects in under served markets.

The IPA continuously seeks education resources and professional partnerships that allow us to bring unique research and leading subject matter experts to our members.

As a reminder, IPA members receive a 15% discount off the Novogradac Opportunity Zone Handbook. (Coupon Code: IPA2019)

We also created a member-only portal with research, whitepapers and case studies to help you better understand the benefits, evolving regulations as well as the potential risks of QOZ Funds.

As an industry, we must remain diligent and recognize that there are no shortcuts to success, and we must always keep in mind that our ultimate responsibility is to the main street investor.  The IPA is committed to this effort to advance Opportunity Zone investments – and all PDI investment strategies – through transparency, education and advocacy.

I invite you to join us in Washington D.C. for IPASummit 2019 – Due Diligence Symposium and Hill Day, May 6-9, where we will bring you the latest information and insights from leading regulators, legislators and Treasury representatives.

Tony Chereso
President and CEO
Institute for Portfolio Alternatives