FPA DFW Chapter Meeting - May 23

Online registration open through May 22nd.

Agenda

• 10:30 AM - 11:00 AM - Check in and networking opportunities
• 11:00 AM  - 11:10 AM - Welcome, Announcements, Opening Remarks
• 11:10 AM - 11:20 AM - FPA Platinum Sponsor Spotlight: Investmark Mortgage
• 11:20 AM - 12:10 PM - Part I - Where Can Indexes and Factors Fall Short?
• 12:10 PM - 12:50 PM - Lunch & Networking
• 12:50 PM - 1:00 PM - FPA Platinum Sponsor Spotlight: Arbor Digital
• 1:00 PM - 1:50 PM - Part II - The Fundamentals of Private Real Estate Investments

CE Credits

2 CFP, 2 CPA, 2 CIMA CE credits. You will be asked to sign in when you arrive in order to be eligible for credit. FPA DFW will report all credits to the CFP® Board following the event within 7 business days.

Chapter Meeting Topics & Speakers

Part I - Where Can Indexes and Factors Fall Short?

Ted Randall, Senior Portfolio Manager I Avantis Investors
1 CFP, CPA, CIMA CE

Financial science and our understanding of what drives asset prices have evolved considerably. The implications on the financial services industry have also been significant, including the introduction of passive index funds, single-factor and multi-factor strategies. Recent studies have highlighted that the rise in indexing has been driven by asset class segment, or non-total market index funds. While index-based strategies offer transparency in exposures, any non-total market index involves active decision making in both design and ongoing execution. During this session we will: Examine some of the similarities and differences in how indices define asset classes and manage reconstitution; Contemplate whether factor-building has been overdone, and examine the risks of becoming too factor focused; Highlight some of the constraints these decisions can place on index trackers; and -Propose how a systematic approach can deliver benefits commonly associated with indexing while removing artificial constraints.

Ted Randall is a Senior Portfolio Manager at Avantis Investors®. Prior to Avantis Investors' establishment in 2019, Ted served as vice president and portfolio manager for domestic and international equity strategies at Dimensional Fund Advisors (DFA). In this role, Ted served as portfolio manager and portfolio advocate for 11 U.S. and non-U.S. developed, emerging market and blended asset allocation mutual funds and separately managed accounts. Ted earned a master's in business administration from the University of California Los Angeles Anderson School of Management and a bachelor of science in business administration from the University of Southern California.

Part II - The Fundamentals of Private Real Estate Investments

Richard Myers I Chairman I Realty Capital Partners
1 CFP, CPA, CIMA CE

The presentation will explain how to analyze a real estate investment, whether it is a single property or a portfolio of properties. The property investment analysis can be broken down into three basic parts: 1. The business analysis of a property. This includes factors such as the property capital stack, regulations/zoning, financial/tax incentives, project costs, location, project concept/business plan and customer analysis. 2. Property financial analysis. I will touch on such concepts as net operating income, capitalization rates, equity multiples and basic property assumptions. 3. Operating analysis of the property. This considers some of the factors that make the “business” of the property successful, including a detailed analysis of the property sponsor, their reputation, project experience, and the ability to execute the multitude of details.

Richard Myers founded “RCP” to provide individual investors the opportunity to invest in real estate projects. He is responsible for analyzing the firm’s real estate investments and helping to provide the company’s strategic direction. Mr. Myers has been investing in and developing real estate since 1984.
Prior to forming RCP, Mr. Myers founded Realty Capital Corporation (“RCC”), a Dallas/Fort Worth based real estate development company. RCC has developed over 60 commercial and residential projects during the last fifteen years. Mr. Myers was previously a partner with Lincoln Property Company, a national real estate development company, and a development partner with GSC Realty Corporation, a Dallas-based real estate company.
Mr. Myers graduated summa cum laude from the University of Illinois with a BS in Finance. He received the University of Illinois Bronze Tablet, the highest academic recognition of the university. He later graduated from Harvard Business School with a MBA. Mr. Myers is married with one child.