The Alt Evolution: How Private Markets Are Reshaping Wealth Management with Tony Davidow

This week, Jack Sharry talks with Tony Davidow, Senior Alternative Investment Strategist at Franklin Templeton, about the rising importance of alternative investments. Drawing from decades of experience and his latest book, Private Markets, Tony breaks down how advisors can responsibly incorporate private equity, credit, and real estate into client portfolios. He discusses the evolution of the wealth channel, the challenges of advisor education, and the need for clear, jargon-free communication with clients. Together, they emphasize thoughtful allocation over hype, aiming to empower advisors to build stronger, more resilient portfolios in today’s changing financial landscape.

In this episode:

(00:00) - Intro

(02:08) - Tony’s unconventional path into alternatives

(04:58) - Tony's role at Franklin Templeton

(07:07) - Tony's book, Private Markets, and its early success

(13:54) - The liquidity trap: why alts don’t belong in ETFs

(16:33) - Concerns and opportunities in the growing alts market

(20:21) - Integrating alternatives within a portfolio

(22:38) - What’s next for alternatives?

(24:14) - Tony's key takeaways