In this episode of Wealth Management Invest, host David Bodamer sits down with Anya Coverman, president and CEO of the Institute for Portfolio Alternatives, to open 2026 with a discussion on key regulatory and policy developments affecting private markets, including ERISA modernization, 401(k) access, accredited investor definitions and the impact of state-level regulation.
Anya outlines the IPA’s role in representing the alternatives ecosystem and shares insight into how access to private markets has evolved, why individual investors remain under allocated compared to institutions, and how innovation in fund structures, fintech infrastructure and industry partnerships is reshaping the wealth channel.
Key takeaways:
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Individual investors remain under allocated to private markets compared to institutions
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New fund structures, fintech platforms and partnerships are expanding advisor access to alternatives
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Policy developments around ERISA, 401(k)s and accredited investors will shape future access
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Durable, thoughtful regulation is essential to responsible growth in private markets
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Education and collaboration are critical as alternatives play a larger role in portfolios
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