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This article delves into the inspiring journey of Heather Fernstrom Border and Jennifer Stevens, the dynamic duo behind Alliance Global Advisors. Uncover their compelling journey to launch Alliance in 2020 and discover their profound impact on reshaping the landscape of the institutional real estate industry.
Alliance Global Advisors is a women-owned consulting firm focused on developing strategic growth solutions for real asset investment managers. Alliance partners with organizations to provide an informed, independent perspective, continued education, and an innovative approach to attracting capital in a competitive market environment.
This article explores the essence of Heather and Jen’s inspirational journey alongside the personal experiences that have shaped their journey. Here are excerpts from our conversation.
Q) Can you share a pivotal moment or experience during your time at Townsend that laid the foundation for your partnership and eventual co-founding of Alliance Global Advisors?
A) We both started our careers at The Townsend Group, one of the largest and first consultants focused on institutional investment in real assets, in the mid-2000s. What we learned was that our journey provided direct access to the world’s premier thought leaders and investors in our industry. Consultants are under tremendous pressure to be a source of knowledge and expertise. This was heightened in 2008 during the Global Financial Crisis. We had to think creatively and develop solutions for situations that never existed before. The challenges associated with this difficult time seemed unsurmountable. It was during this time that we recognized the power of strong partnerships as well as the terrible outcomes that could unfold when partners did not recognize the importance of transparency and grit.
Working for a consulting firm put us in a position of privilege that gave us a great understanding of the competitive landscape and what it takes to be a best-in-class investment manager. This experience was the driving force behind the launch of Alliance. We saw a void in the marketplace for a truly independent third party that would advise investment managers on growth solutions in the real estate industry. Alliance bridges the gap between the investor and investment management communities. We partner with our clients to provide strategic growth solutions, an informed, independent perspective, continued education, and an innovative approach to attract capital in a competitive market.
Q) How do you balance the personal and professional aspects of your relationship, and how has this dynamic contributed to the success of Alliance Global Advisors?
A) Our friendship serves as a solid foundation for our professional partnership, nurturing trust, empathy, and a unified vision for Alliance Global Advisors. We recognize the importance of maintaining boundaries and respecting each other’s individuality while leveraging our friendship to fuel creativity, resilience, and problem-solving. Balancing our personal and professional relationships has been integral to the success of Alliance Global Advisors. We approach our partnership with open communication, mutual respect, and a clear delineation between personal and professional matters. By prioritizing transparency and understanding, we’ve cultivated a harmonious dynamic that enhances both our personal bond and our business endeavors.
This approach has fostered a cohesive team environment where authenticity, collaboration, and integrity are valued, driving our collective success and propelling the company’s growth. We are proud of our diverse group of 13 team members with varied backgrounds, dedicated to serving our clients effectively.
Q) Reflecting on your career paths and your journey together, what are some key lessons or skills that have had a lasting impact on your leadership philosophy?
A) Our careers began before the Global Financial Crisis (GFC), during a period of rapid growth in the real asset investment space. This all came crashing down during the GFC in 2008. Being young in our careers during a period of uncertainty was the best learning environment that contributed to our leadership philosophy. It forced us to think creatively and develop solutions to investment problems that never existed before. While challenging, that period taught us to become better investors.
An essential lesson learned was to embrace uncertainty and welcome questions. As consultants serving prominent public pension plans, we faced rigorous debates, prompting introspection on what we didn’t know. This humility drives continuous learning, ensuring well-informed responses to challenges. Additionally, we value both sharing our expertise and leveraging diverse perspectives, fostering collaboration and innovation. Deepening our understanding of topics like environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) exemplifies our commitment to evolving and embracing differing viewpoints in pursuit of progress.
Q) How do you stay ahead of industry changes, and how does Alliance Global Advisors adapt its strategies to stay relevant in a constantly evolving landscape?
A) Our team was carefully curated and designed to elevate our clients to the next level. All team members bring a wealth of knowledge and relationships from their prior roles as consultants, limited partners, and general partners. Our team is actively involved in the industry. We sit on industry boards, are quoted in various industry publications, and are frequent speakers on panels at industry conferences.
We leverage key industry relationships and experience to identify best practices and unlock opportunities across each client’s platform. Alliance aims to improve strategy and operations and ultimately accelerate business development. By collecting a breadth of current market insights from a variety of sources, Alliance can tailor work products and best practices to any client’s needs. We offer a diverse collection of best-practice guidance backed by research on over 140 topics.
Q) Could you provide insights into the Alliance model and its value proposition? Additionally, could you outline the typical structure of a typical client engagement with Alliance?
A) At Alliance, our model is shaped by our firsthand experiences in the consulting, limited partner, and general partner realms. Through our journey, we’ve discovered that many general partners lack the internal resources and perspectives needed to effectively serve their diverse global investor base. Our approach revolves around our reputation, built upon the trust of the limited partner community. Our ultimate goal is to assist clients in developing strategic growth solutions to stand out and attract capital in today’s competitive market landscape.
In a typical client engagement, we collaborate with our clients to offer comprehensive support tailored to their needs. We aim to cultivate enduring relationships and unearth opportunities across various platforms to enhance strategic direction, and operational efficiency, and expedite business growth.
While each engagement is unique, our comprehensive approach encompasses six key pillars:
ORGANIZATIONAL ASSESSMENT & STRATEGIC PLANNING
- Evaluating long-term business plans
- Assessing organizational structure
- Understanding the competitive landscape
- Unlocking opportunities for future growth
- Advising on vehicle structuring, terms and conditions
NEW PRODUCT DEVELOPMENT
- Refining strategy for first-time and existing vehicles
- Improving messaging to the target capital
- Developing a critical path to fundraising
MARKETING & BRAND ELEVATION
- Reviewing and refining all investor-facing marketing collateral
- Providing pitch practice with real-time feedback
- Elevating brand recognition on the institutional circuit
GLOBAL INVESTOR & CONSULTANT UNIVERSE ANALYSIS
- Educating on the evolving needs of the Investors and Consultants
- Providing feedback and real-time market sentiment
- Defining global mapping process to improve distribution and understanding capital sources
THOUGHT LEADERSHIP & PROFESSIONAL DEVELOPMENT
- Providing best practice guidance on over 140 industry topics
- Providing organizational and professional development training through Alliance Masterclasses
ENVIRONMENTAL SOCIAL AND GOVERNANCE ADVISORY
- Serving as a resource for ESG, DEI and impact initiatives
- Establishing and reviewing ESG and DEI policies
- Creating an ESG implementation plan and roadmap for the future
- Integrating ESG functions across the organization
Q) Looking ahead, what is your vision for Alliance Global Advisors, and how do you plan to achieve it?
A) We are constantly striving to improve both personally and professionally. We entered this partnership as friends, but it was based on the tremendous respect we had for each other. We look forward to growing our firm together, celebrating the successes of our client base, and providing additional growth opportunities to our team. Hopefully, by doing so, we will make our mentors and families proud as well as leave a lasting impact on the industry.
Our firm-wide goal is to make a lasting positive impact on the institutional real estate industry by providing services that help our clients become best-in-class investment partners. As business owners, we constantly evaluate ways to grow our business and touch the broader universe. Launching new verticals and staying ahead of trends to create additional distribution is always on our minds.
Q) What advice would you give to young professionals aspiring to leadership roles in the finance and investment sector, particularly women who may face unique challenges?
A) Acknowledge your worth from the outset. Voice your ideas promptly and welcome superior solutions when they arise. Remain receptive to having your perspectives challenged. Cultivate a circle of individuals who can impart knowledge to you. Maintain a mindset of humility without compromising your self-assurance. – said Jen.
Lead with compassion rather than pride. When faced with challenges, strive to pause, empathize, and acknowledge perspectives beyond your own. If you desire something, speak it aloud. Articulate your intentions and aspirations clearly; you may be pleasantly surprised by how fast they manifest. – said Heather.
