October 9, 2025 – King of Prussia, PA
Philadelphia-area wealth managers gathered at Morton’s in King of Prussia for the latest Investment Strategy Salon Dinner, an intimate evening hosted by the Asset Allocator Institute. The dinner brought together advisors and asset managers for an off-the-record exchange of insights on credit markets, real estate trends, and innovative income strategies, all in an environment designed for depth over formality.
The event was sponsored by Pender Capital, Flat Rock Global, and Columbia Threadneedle, each leading a focused discussion on their respective approaches: real estate private debt, niche private credit, and innovative fixed income solutions. What emerged from the evening was a nuanced snapshot of how wealth managers are thinking about income generation in today’s uncertain environment and how the vehicles used to deliver those strategies are evolving.
“It was an interesting collection of presenters and guests,” said one attending wealth manager. “I thought the strategies were interesting, and I enjoyed hearing about the business strategies of some of the other firms. There are so many components and ways to go about this industry. Hearing what’s working and what’s a struggle for others is always valuable feedback.”
Much of the discussion centered on private credit — a space that continues to expand as traditional fixed income struggles to deliver consistent yield. The discussion surrounding Collateralized Loan Obligations (CLOs) struck a chord with several attendees, particularly in light of persistent misconceptions about risk.
One RIA noted that he was looking more closely at CLOs after learning that default rates in the sector have been lower than widely assumed.
“That was surprising,” he said. “It’s an area that deserves a deeper look.”
The conversation around real estate private debt proved equally compelling. With commercial property valuations adjusting and traditional lenders retreating, the conversation surrounded first-lien commercial real estate lending, a segment that one attendee was interested to note offers higher yields than expected, especially relative to the perceived risk.
“The conversation on the real estate cycle captured the tension perfectly,” said a wealth manager. “It’s an uncertain time, but also a moment of genuine opportunity for managers with disciplined underwriting and liquidity.”
Columbia Threadneedle rounded out the evening with a discussion of innovative fixed income solutions, touching on how managers are adapting bond portfolios to a persistently higher rate environment. For many advisors in attendance, these kinds of “next-generation” income strategies underscored the value of diversification beyond traditional mutual funds and ETFs.
“The sponsors had clear, sensible products in approachable vehicles,” one RIA said. “It made me realize we should cast a wider net as we do diligence and find ways to build interval funds into our operational strategy. There are some strategies we simply can’t access if we stick to mutual funds and ETFs.”
While much of the evening focused on income and credit, a few conversations ventured further afield. One advisor shared that his firm has been spending considerable time studying energy and commodities.
“Gold is on quite the run this year, and it’s been fascinating to watch,” he said. “With the rapid development of AI and data infrastructure energy is becoming more and more of a pertinent sector in need of a major breakthrough, and I think we’ll get one soon.”
Across the board, advisors appreciated the format – small, candid, and interactive.
“Hearing how other advisors think through these same challenges and meeting fund managers who have clear, repeatable approaches always sharpens our own thinking,” one participant said.
As with all Investment Strategy salons, the evening was less about sales pitches and more about perspective. In an era where both markets and client expectations are shifting, these conversations offered a reminder that the smartest investors are not chasing headlines.