🎙Alt Goes Mainstream EP. 96 with NewEdge's Rob Sechan and Cameron Dawson - growing a cutting edge $44B platform to serve the wealth channel
by Michael Sidgmore, Co-founder & Partner at Broadhaven Ventures.
Guest post by Michael Sidgmore, Co-founder & Partner at Broadhaven Ventures. | Originally published on Alt Goes Mainstream.
Welcome back to the Alt Goes Mainstream podcast.
Today’s episode features the architects behind one of the industry’s faster growing wealth management platforms, NewEdge.
We welcome NewEdge CEO, Managing Partner, and Co-Founder Rob Sechan and NewEdge CIO Cameron Dawson.
Both Rob and Cameron have a wealth of experience in both wealth management and private markets. Rob has over two decades of experience in financial services, beginning his career as a financial advisor at Morgan Stanley, before running a family office business as a Managing Director at Lehman Brothers. He later joined UBS as a Managing Director and Head of the Intellectual Capital Subcommittee, where he helped guide the firm’s tactical investment process for wealthy families and institutional clients before founding NewEdge in 2020. Cameron was the Chief Market Strategist at Fieldpoint Private Securities and a Senior Equity Analyst at Bank of America before joining NewEdge as CIO.
Since its founding in 2020, NewEdge has grown to over $44B AUM, supports over 300 financial advisors. NewEdge has built a platform that combines wealth management, technology, custody, research, and alternatives capabilities. They’ve built out a sophisticated private markets investment practice, which we unpacked in detail on today’s podcast.
Rob, Cameron, and I had a fascinating discussion. We covered:
The transformation in wealth management and the approach that NewEdge has taken in the independent wealth channel.
The evolution of Super RIAs.
The role of alternatives in wealth management.
Navigating client psyche and market cycles.
The importance of due diligence and why fee discipline matters in private markets.
The importance of liquidity in a client's portfolio.
Why portfolio construction is key in the wealth channel.
Thanks Rob and Cameron for coming on the show to share your thoughtful views on wealth management and private markets.
Show Notes
00:00 Introduction and Ultimus Sponsor Message
01:21 Welcome to the Podcast
02:03 Introducing NewEdge Wealth and the Guests
02:20 Rob Sechan's Journey in Wealth Management
07:46 Cameron Dawson's Perspective on NewEdge
11:45 The Role of Alternatives in Wealth Management
20:09 The Evolution of Super RIAs
24:10 Investment Strategies and Client Focus
31:31 Balancing Proactivity and Client Sensitivity
31:56 The Importance of Transparency and Differentiation
32:30 Navigating Client Psyche and Market Cycles
33:33 The Role of Alternatives in Portfolios
36:05 Private Equity Opportunities and Challenges
38:00 Fee Discipline and Alpha Generation
51:57 Engaging with Wealth Channels
56:52 Favorite Alternative Investments
59:27 Conclusion and Final Thoughts
