In this age of increased focus on private market exposure for private wealth clients, AlphaCore Wealth Advisory, a La Jolla, Calif.-based RIA with $8.6 billion in AUM, has been on the cutting edge for some time. The firm has put alternative investments at the core of its investment strategy, rather than treating them as a supplement to traditional asset classes. At AlphaCore, many clients’ allocations to alternatives tend to fall in the 20% to 25% range, according to the Chief Investment Strategist David Stubbs, rather than the single-digit allocations more commonly found among its peers.

AlphaCore was launched in 2015 by alternative investment specialist Dick Pfister. Last year, the firm bought Rockville, Md.-based SPC Financial,…