Chad Larson, Partner and Senior Portfolio Manager with MLD Wealth of CG Wealth Management, discusses why he won the WP Award for Advisor of the Year Alternative Investments, why he wrote the book on alts, and how advisors can best make use of this asset class
00:00:08 – David Kitai
Hello and welcome to this special episode of WP TV. My name is David Kitai, Senior Editor at Wealth Professional. The Wealth Professional Awards celebrate how this industry has moved forward, embraced change, and innovated to serve clients.
One of the most exciting areas of progress in this industry is in the use and adoption of alternative investment strategies. The ICM Asset Management Award for Advisor of the Year – Alternative Investments highlights the one advisor who has offered an outstanding level of alternative strategy in their client service.
Chad Larson, Partner and Senior Portfolio Manager with MLD Wealth of Canaccord Genuity Wealth Management, won that award this year. He literally wrote the book on alternatives in client portfolios. Chad joins us now to discuss his award win. Chad, welcome to WP TV.
00:00:57 – Chad Larson
Thank you so much for having me. I think winning this award comes down to bold leadership rooted in deep expertise, combined with a consistent delivery of innovative solutions in the alternative investment landscape beyond traditional stocks and bonds.
We’ve carved out a niche and built unique relationships and subject matter expertise within alternatives. Last year, I authored and published a book called Beyond Traditional: A Modern-Day Guide for Alternative Investors to give back to clients and create an educational platform. That work has helped our high-net-worth clients preserve capital, manage risk, and access unique opportunities—establishing years of trust and performance.
00:02:14 – David Kitai
Talking about those years of trust and performance, let’s go back to the start. When did you begin putting alternatives into client portfolios, and what were some of those first assets you gave them exposure to?
00:02:27 – Chad Larson
I’ve always said I’ve been doing alternatives since before they were cool. Well over 12 years ago, we recognized unique opportunities. The first material shift we made was into U.S. multifamily real estate.
At that time, we had near U.S. dollar parity, strong population growth in Sun Belt states, and cap rate compression opportunities. In partnership with a group out of Toronto, we created a first-of-its-kind structure to allow direct investing into U.S. multifamily real estate with RSP eligibility under a limited partnership structure.
It worked incredibly well, and though it took a lot of effort to build and educate clients, it set the stage for future structures where our clients looked to us to investigate, create, and manage unique access to private markets.
00:04:19 – David Kitai
That’s a fascinating example. It speaks to the two main definitions of alternatives: private assets with liquidity challenges, and sophisticated strategies with unique structuring. Would you say you’ve blended those two aspects for your clients?
00:04:59 – Chad Larson
Absolutely. Creating wrappers, packages, and vehicles for retail clients to access alternatives is step one. But the real value is in structuring—managing diligence, risk mitigation, and tax efficiency across borders.
Many times, investors face multiple layers of fees. We’ve worked to establish direct access relationships with underlying managers, positioning ourselves like institutional partners to keep costs down and performance in clients’ hands.
00:06:44 – David Kitai
You mentioned your book Beyond Traditional. What made you want to write it, and how does it reflect your approach?
00:07:03 – Chad Larson
I believe in radical transparency. Part of writing the book was personal passion—I enjoy creative writing—but it was also about giving back to clients and the industry.
Alternatives are often treated as a mystery bucket of “everything that isn’t stocks or bonds.” My goal was to demystify them, act as a guide, and break down the main categories: private equity, private credit, infrastructure/real assets, and hedge funds.
Each has many subcategories. For example, private credit can mean asset-backed lending, mezzanine facilities, debtor-in-possession loans, and more. The book was meant to help clients and advisors understand these differences so they could make better-informed decisions.
00:10:03 – David Kitai
Is the term “alternatives” too reductive? Should we be using more precise language now?
00:10:34 – Chad Larson
I agree. “Alternatives” is overused, much like saying “equities” without distinguishing large cap, small cap, growth, or value. Education is the only way forward. That’s why I wrote the book—to add clarity and context beyond the blanket term.
00:12:16 – David Kitai
Looking back at your first client structures, what signaled that alternatives should become a central part of your philosophy?
00:12:43 – Chad Larson
It was both pragmatic and strategic. As an independent advisor, I needed a differentiator. Offering access to structures unavailable at larger competitors set us apart.
Initially, alternatives were the “shiny spoon” that got clients’ attention. But we realized we could build long-term trust by combining those unique opportunities with traditional portfolio management. Clients needed both the “gravy” of alternatives and the “mashed potatoes” of beta exposure.
00:15:30 – David Kitai
Other advisors will look at your award win and this broader trend. How can advisors educate themselves and their clients to be good guides in this complex space?
00:16:13 – Chad Larson
Advisors must go beyond simply understanding KYP (Know Your Product). We owe clients deeper education, not just disclosure.
One initiative I launched is the Alterna Private Income Portfolio—Canada’s first of its kind. It’s a one-ticket solution with 13 curated managers, overseen by Obsidian Group (a subsidiary of Guggenheim). Nothing enters the platform without rigorous third-party due diligence.
This gives clients diversification across managers and vintages, helping them avoid concentration risks. Alternatives must be treated as portfolios in themselves, not single-use strategies.
00:21:08 – David Kitai
It sounds like you apply the same core principles from public markets—diversification, dollar-cost averaging, discipline—to alternatives. Is that fair?
00:21:50 – Chad Larson
Exactly. The principles are the same. What matters is execution. Many advisors know what to do but fail to implement consistently.
Evergreen structures and strategic partnerships allow us to execute with discipline, diversify across managers and sectors, and give clients institutional-level access they couldn’t achieve alone.
00:24:30 – David Kitai
No advisor is an island, and scope creep is a real issue. What can firms do to support advisors in this space without overwhelming them?
00:25:10 – Chad Larson
Strategic partnerships are key. No one can be the best at everything. By partnering with independent groups like Obsidian, we can access institutional-quality diligence and structures without conflicts of interest.
Firms also need to build internal capacity to review and verify due diligence, ensuring they can call out weaknesses when needed. That balance of partnership and internal oversight is essential.
00:27:55 – David Kitai
Unfortunately, we’ve run out of time. Chad, thank you for your fascinating insights and expertise in this area.
00:28:12 – Chad Larson
Thank you so much for having me. I look forward to doing this again.
00:28:15 – David Kitai
And thank you to all our viewers for tuning in to WP TV. I’ve been David Kitai. Have a great rest of your day.
