AlTi Global's Mike Tiedemann - when wealth management goes global
Welcome back to the Alt Goes Mainstream podcast.
Today’s guest is an industry leader in wealth management who has been very active in private markets.
He's at the helm of the first pure play publicly traded wealth management business, AlTi Global. AlTi, a $72B AUM platform, came out of a merger between Mike's successful and highly regarded wealth management and alternatives business, Tiedemann Advisors, which merged with Alvarium.
Founded in 1999, Tiedemann grew into a global company under Mike's leadership, expanding across geographies and building out a Trust Company and an alternatives manager on its way to overseeing $29B AUA.
Mike has since run the combined company of AlTi Global as CEO, where they've built a global wealth management and alternatives platform.
They are also backed by Allianz and Constellation Wealth Capital as they continue to serve many UHNW families worldwide.
They are also backed by Allianz and Constellation Wealth Capital as they continue to serve many UHNW families worldwide.
Mike is very well-versed in private markets given his deep expertise in allocating to many of the industry's best leading managers so we had a fascinating conversation about the intersection of private markets and wealth management.
We discussed:
- The business of wealth management.
- The evolution of the wealth management industry.
- Why understanding private markets is so critical for wealth managers.
- The advantages of being a global wealth management business.
- The experience of being a publicly traded pure play wealth management firm.
- How to structure investments for global clients.
- The need to customize private markets portfolio construction as a way to differentiate versus other wealth management platforms.
Thanks Mike for coming on the show to share your views and wisdom on wealth management and private markets.
This conversation is for informational purposes only and should not be construed as investment advice. It does not endorse or recommend any specific investments, products, or strategies. The opinions shared regarding investment approaches, risk allocations, and portfolio decisions are purely for discussion and do not constitute formal recommendations.
This conversation is for informational purposes only and should not be construed as investment advice. It does not endorse or recommend any specific investments, products, or strategies. The opinions shared regarding investment approaches, risk allocations, and portfolio decisions are purely for discussion and do not constitute formal recommendations.
Any statements, assertions, or views regarding past or future market events or investment approaches are based on the speaker’s beliefs and do not necessarily reflect those of the firm as a whole, unless explicitly stated with supporting sources. Additionally, some statements may be forward-looking in nature, and actual outcomes may differ materially from expectations.
A word from AGM podcast sponsor, Ultimus Fund Solutions
This episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.
To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.
To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.
Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.
We thank Ultimus for their support of alts going mainstream.
Show Notes
00:00 Introduction and Message from our Sponsor Ultimus Fund Solutions
Show Notes
00:00 Introduction and Message from our Sponsor Ultimus Fund Solutions
01:18 Podcast Theme Song
01:55 Welcome to Alt Goes Mainstream
01:58 Introducing Mike Tiedemann
05:26 Lessons from Mike’s Early Career in Brazil
06:51 Geopolitics and Investing
09:10 Private Markets Insight
09:33 History of Tiedemann Advisors
11:13 Evolution of Wealth Management
13:18 Challenges in Wealth Management
13:40 Multi-Strategy Managers
16:23 Client Needs and Expectations
17:58 Global Expansion and Services
20:25 Investment Differentiation
23:11 Tax Efficiency in Investments
24:23 Partnerships and Collaborations
26:18 Decision to Go Public
27:52 Benefits of Being Public
28:00 Challenges of Going Public
28:49 Building a Permanent Business
28:59 The Importance of Permanent Capital in Wealth Management
29:11 Wealth Management Business Longevity
29:54 Public Company Dynamics
30:15 Surviving Market Downturns: Strategies for Wealth Management Firms
31:12 Industry Consolidation
32:00 Global Wealth Management Focus
32:54 Regional Wealth Hubs
34:08 Nuances of Global Markets
35:30 Structuring for Global Clients
37:19 Creating Scalable Private Market Offerings
38:27 Differentiating in Private Markets
40:11 Tax Efficiency in Alternatives
40:52 Innovative Investment Structures
41:19 Partnerships with Managers
41:58 Public vs. Private Wealth Management
43:44 Brand and Public Listing Impact
45:35 Future of Wealth Management
47:26 Technology and AI in Wealth Management
48:38 Talent and Retention
50:48 Skills for Modern Wealth Managers
51:57 Next Gen Client Demands
53:11 Exciting Trends in Private Markets
54:40 Capital Flows and Private Credit
56:33 Challenges in Private Markets
58:16 Favorite Alternative Investments
01:01:05 Concluding Thoughts