In this episode sponsored by Obsidian CIO, hosts Bob Huebscher (founder of Advisor Perspectives) and Joe Halpern (Managing Partner and CIO of Obsidian CIO) go inside a leading multifamily office to show what a fully committed alternatives practice actually looks like in action.
Joined by special guest Scott Welch, CIO and Partner at Certuity, a $4 billion multifamily office serving ultra-high-net-worth families across the country, this episode delivers an unfiltered look at how a seasoned investment professional sources, vets, sizes, and integrates alternative investments into real client portfolios.
Scott’s bottom line for advisors considering alternatives: go all-in, or don’t go at all.
• Understand the Modified Endowment Model — Learn how Certuity adapts institutional investing principles for individual families, balancing global diversification, tax efficiency, and liquidity needs.
• Define Your Alternatives Framework — Why Scott draws a sharp distinction between alternatives (hedge funds and diversifying strategies) and private markets (private equity and private credit) and why that distinction shapes every allocation decision.
• Source and Vet Managers Like an Institutional Investor — Certuity applies a rigorous four-P framework (People, Philosophy, Process, Performance), why it favors deep relationships with fewer managers, and how Alt+ makes institutional minimums accessible to individual clients.
• Size Alternatives to Move the Needle — Understand why a 20–25% allocation is the threshold that actually impacts portfolio performance and how to balance that against each client’s liquidity threshold and cash flow needs.
• Build the Operational Infrastructure — Learn how Certuity handles capital calls, performance reporting, and consolidated K-1s at scale and where AI is beginning to streamline the process.
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Listeners can download the new White Paper by Obsidian CIO, here:
How to Scale Your RIA to $1 Billion AUM and Beyond
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IMPORTANT DISCLOSURE: Obsidian CIO LLC sponsors the podcast to further education and critical thinking about the factors that affect markets and investing, and the podcast does not provide investment advice. Investment advice is only offered to clients of Obsidian CIO who have entered into an advisory agreement and with whom Obsidian CIO has identified individual objectives, risk tolerance, and other investment needs.
