Welcome back to another exciting episode of the Alt Goes Mainstream podcast! Today, we have a distinguished guest who has been at the forefront of transforming the wealth management landscape.
We’re sitting down with Joan Solotar, the Global Head of Private Wealth Solutions at Blackstone. Aside from her role on the firm’s Management Committee, Joan is known for spearheading Blackstone’s remarkable expansion in the wealth channel. Her leadership has helped the firm amass more than $250 billion in assets within private wealth, which now represents nearly a quarter of Blackstone’s total $1 trillion assets under management.
If you’re eager to dive deeper, you can catch this episode on Apple Podcasts, Spotify, or Transistor.
The core mission of Blackstone Private Wealth Solutions is clear: to deliver top-tier institutional grade products from a diverse array of alternative asset classes to high net worth individuals and their advisors.
Before joining Blackstone in 2007, Joan had an illustrious career as the Head of Equity Research at Bank of America Securities and was a renowned Institutional Investor All Star financial services analyst at Credit Suisse and Donaldson, Lufkin & Jenrette. Additionally, she’s on the Board of Directors of First Eagle Investment Management.
Our conversation was a deep dive into scaling and building a robust business within the private wealth sector, covering topics like:
– How Blackstone built its $250 billion AUM presence in the wealth channel.
– How Joan’s background in equity research fueled her journey to developing this business.
– The initial steps taken to establish Blackstone’s Private Wealth Solutions.
– The strategic role of private markets in portfolio building.
– The anticipated evolution of model portfolios.
– The growing notion that private markets are now mainstream.
– Building a successful brand in asset management.
It was a pleasure having Joan on the podcast, where she shared her insightful perspectives on the burgeoning private markets and her impactful work in the wealth channel.
To explore more about how early the industry is in this transition, how wealth channels are educated about private markets, and why these sectors are becoming primary investment avenues, make sure to tune in.
This episode of Alt Goes Mainstream is proudly sponsored by Ultimus Fund Solutions. As the financial marketplace continues to grow in complexity, Ultimus stands out as a leader, providing comprehensive fund administration and middle office solutions for asset managers in both private and public sectors. Their services cater to over 450 clients managing 1,800 funds, amounting to $500 billion in assets, supported by a team of 1,000 professionals. For more information, visit their website or reach out to their EVP of Business Development, Gary Harris, at [email protected].
You can find more details about Ultimus’ innovative services by clicking on the link provided. We are grateful for UItimus’ support in bringing alternative investments into the mainstream.
Now, let’s jump into the show notes, which guide you through our entire engaging conversation with Joan, from her career journey to the challenges and successes faced in the ever-evolving wealth management industry. From discussing how to convince skeptics and build trust, through Joan’s insights into liquidity in private markets, and down to the role of branding and marketing—this episode is packed with invaluable insights for anyone interested in the intersection of wealth management and private investments.
A big thank you to The Podcast Consultant for their exceptional editing and post-production work in making this episode possible.
