Executive Summary
Alternative investments have moved from the sidelines to the mainstream of portfolio construction—and for good reason. Recent policy developments, including the White House Executive Order expanding access to alternatives in retirement plans, reflect recognition that modern portfolios need more than stocks and bonds to deliver diversification, manage risk, and capture new return opportunities.
The Vince Lombardi Trophy
For decades, a traditional 60/40 mix of stocks and bonds served many clients well. But today’s environment—greater dispersion, episodic volatility, stubborn inflation, and shifting correlations—has challenged the reliability of that simple playbook. As a result, many advisors are evaluating whether, and how, alternatives can play a more deliberate role in diversified portfolios.
This short guide introduces The New Playbook for Alternative Investing, a practical, client-friendly framework for discussing portfolio construction using the familiar game of football:
- Offense: Growth-oriented exposures designed to advance the ball over time
- Defense: Stabilizers intended to generate income and help cushion drawdowns
- Special Teams: Diversifiers that seek differentiated sources of return and risk mitigation
Use this framework to explain why alternatives may be worth evaluating, how they might complement traditional allocations, and what role they may play in building more resilient portfolios—always with prudent sizing, clear expectations, and an eye on implementation.
How to Use This Guide
This is not investment advice. Rather, it’s a practical vocabulary and mental model for understanding how alternatives integrate throughout a portfolio—not as a separate sleeve, but as versatile players across positions.
If you’d like to discuss how this framework might support client conversations or how alternative strategies may fit alongside existing allocations, please reach out.
William Marr, Senior Managing Director, Head of Business Growth
[email protected]
Christopher Keenan, Director of Marketing
[email protected]
About Alternative Insights
Get exclusive market insights and expert perspectives on key trends and opportunities to help you navigate the ever-changing financial landscape with confidence.
CONTENTS
Executive Summary
A New Playbook for Client Portfolios
Framing the History of Alts and Asset Allocation Through Football
Today’s Updated Playbook: Alts Playing Alongside Their Stock and Bond Teammates
Offense: Growth Assets and Strategies
Defense: Income Assets and Strategies
THE OPINIONS EXPRESSED ARE THOSE OF THE AUTHOR OR THE INDIVIDUAL TO WHOM THE STATEMENTS ARE ATTRIBUTED. WHILE BELIEVED TO BE REASONABLY BASED ON FACT AND INQUIRY, THERE CAN BE NO GUARANTEES THAT SUCH OUTCOMES EXPRESSED OR IMPLIED HAVE OCCURRED OR WILL INDEED OCCUR.
THIS DOCUMENT IS NOT A SOLICITATION FOR INVESTMENT. SUCH INVESTMENT IS ONLY OFFERED ON THE BASIS OF INFORMATION AND REPRESENTATIONS MADE IN THE APPROPRIATE OFFERING DOCUMENTATION. ANY INVESTMENT PROGRAM DESCRIBED HEREIN IS SPECULATIVE, INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS. NO REPRESENTATION IS BEING MADE THAT ANY INVESTOR WILL OR IS LIKELY TO ACHIEVE SIMILAR RESULTS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
