When people think about investing, they usually think public markets—stocks, ETFs, mutual funds. And for good reason. Public investments are accessible, liquid, and familiar. They’re where most investors get their feet wet.
But at some point, your wealth outgrows the public market menu. You start to ask: What else is out there?
That’s when the world of private investing—real estate, private equity, private credit, venture capital, and infrastructure lending—starts to show up on your radar. And it should.
Personally, real estate was my first foray into private investments. Then I started investing directly in other businesses, then my own business, and eventually into private funds. Along the way, I’ve developed a bit of a love-hate relationship with private markets—and that tension has helped shape how we evaluate private opportunities at Members’ Wealth.
The Allure (and Risk) of Private Markets
Most investors are drawn to private markets by the potential for higher returns. But for me, the early appeal wasn’t just returns—it was control and diversification. Owning assets that weren’t moving in lockstep with the S&P 500, and not being marked-to-market daily, offered a different kind of value. Especially in uncertain environments.
But make no mistake—private investing comes with trade-offs:
The question isn’t whether private markets are good or bad. It’s whether they fit your strategy, timeline, and financial goals.
Who Are Privates Really For?
In my opinion, private investment isn’t a question of net worth (though there are laws that do exist regarding who private investments are appropriate for). A $1 million client earning $500,000 a year who won’t touch their money for 30 years and has access to other liquid resources might be a better fit for illiquid investments than a $20 million client spending down their portfolio over the next decade.
Private investments are not just about being wealthy. They’re about being liquid enough not to need liquidity from a particular slice of your portfolio.
And the truth is, private assets can disappoint. The 1999 crash. The 2008 financial crisis. COVID. Liquidity evaporates, deals stall, and those expected 15%+ IRRs? Sometimes they don’t materialize.
That’s why at Members’ Wealth, we advocate for private investing in tranches—spread across time, like laddering a bond portfolio. Different vintages, different managers, different market cycles.
Our Approach
We’re not here to sell you a product. We’re here to walk through the pros and cons of what’s out there—public and private—and help you design a strategy that fits your life.
We’ve helped clients gain exposure to private investing in ways that match their specific situation. Sometimes that means evergreen funds or interval funds. Other times it means waiting. Patience is a strategy, too.
Final Thought
Private markets can play a meaningful role in diversifying portfolios and potentially enhancing returns—but they are not for everyone. If you’re curious whether private investments belong in your plan, or how to build a laddered private allocation that matches your risk tolerance and liquidity needs, let’s talk.
Just like public markets, private investing is best done with intention, structure, and a long-term mindset.
📩 Reach out to discuss your portfolio—or the piece of it that doesn’t have a ticker symbol.
Investment strategies, including rebalancing, do not guarantee improved performance and involve risk, including potential loss of principal. Past performance does not guarantee future results.
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon.
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Dane Czaplicki is CEO of Members’ Wealth, a boutique wealth management firm that offers a comprehensive approach to serving individuals, families, business owners, and institutions. The firm’s goal is to preserve and grow its clients’ wealth to endure over time, while thoughtfully evolving its strategy to suit an ever-changing world. With over 20 years of wealth management experience, Dane and the Members' Wealth team thrive on bringing clarity and confidence to clients' unique situations. He believes everyone needs sound financial advice from someone whose interests are aligned with theirs, and is determined to put service before all else.
Dane received his MBA from The Wharton School of Business at the University of Pennsylvania and his bachelor’s degree from Bloomsburg University. Outside work, he enjoys spending time with his wife and kids, hiking and camping, reading, running, and playing with his dog. To learn more about Dane, connect with him on LinkedIn.
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