Alright, so picture this: I’m sitting at Goldman Sachs, in their 200 West office, and I’m supposed to chat with this guy, Kyle Kniffen. No big deal, right? Just the dude who’s kinda reshaping their whole private markets game. Somehow, this conversation turned into a rollercoaster about wealth channels and asset management. I know, thrilling stuff. Anyway – wait, no – let me get back on track.
So Kyle, he’s this bigwig at Goldman, heading up their Alternatives for Third Party Wealth. Fancy title, something like that. He’s juggling over $500B in private markets. Huge numbers, but it seems almost abstract, you know? Like trying to imagine a trillion ants marching in line.
Anyway, we start talking, and before I know it, we’re knee-deep in how private markets are like this secret sauce for wealth management strategies. It’s… complicated. But then, Kyle, with his usual nonchalance, starts unraveling things about evergreen funds and why advisors love ’em. Why? Beats me, but apparently, they’re all the rage.
Oh, I should mention, the episode’s on Apple Podcasts. You can listen to it there if you’re into that sort of thing. Did I say that already? Whatever.
And there’s this bit about the next big thing in productization – yeah, that’s a word now – and Kyle’s take is that innovation is gonna skyrocket. Just like my excitement when I find a half-eaten chocolate bar in my coat pocket. Random, but there it is.
There’s this other company too – Ultimus Fund Solutions. They joined the party to help asset managers navigate this circus. They do this blend of high-tech and high-touch solutions. No idea what that means, but it sounds cool.
Gary Harris over at Ultimus, he’s big on tech solutions. You should give their website a look. I did, kinda. But enough about that.
Somewhere in all that, we talked about bringing all of Goldman Sachs to every client touchpoint. Sounds intense, right? It’s like they’re trying to become this “complete partner” for everyone, everywhere. Imagine if your toaster had a plan for world domination. Kind of like that.
And, yeah, I learned a bit about education in private markets, and more on Kyle’s past than I probably needed. Still, it was kinda fascinating because, at the end of it, these guys really know their stuff. Or at least Kyle does.
The conversation weaved through terms like ETFs, mutual funds, and other finance-y things that, frankly, I had to Google afterwards. But hey, that’s the thrill of it. Post-sale transparency, co-investments – apparently they’re more popular now. It’s wild times in the finance world, folks.
So, big thanks to Kyle and the team. If you’re even a little bit curious about private markets and want your brain twisted into knots – in a good way – give it a listen. Or don’t. I’m not your boss.
Editing by The Podcast Consultant. Props to them for making sense of my ramblings. Did I cover everything? Maybe. Now I need a nap.
