Leaders from Bank of America, Merrill Lynch, LPL Financial, Morgan Stanley, and Fidelity Investments discussed the evolution and trajectory of alternative investments (alts). Their main takeaways:
Mark Sutterlin from Bank of America underscored the shift from viewing alts as luxuries to essential tools for portfolio diversification and emphasized both the importance of education in their distribution, and the significance of long-term relationships in reputation-building.
Michael Gaviser from Morgan Stanley noted the challenges of adoption, pointing out the complexities in purchasing, tax reporting, and the urgency to widen the market share for alts beyond the current 3%.
Bill Duffy of Fidelity Investments illustrated the concentrated nature of asset flows in their platform and emphasized the importance of diversified securities in optimizing platform functionality.
Steve Snyder from LPL Financial highlighted technological improvements to ease transactions.
The panel was united: advancements in education, technology, and strategic partnerships will be pivotal to the future trajectory of alternative investments in the financial landscape.