Al DiNicola, AIF®
Private Fund Advisor | Investment Adviser Representative
Lakewood Ranch, Florida
Al DiNicola provides independent, non-discretionary advisory guidance to accredited and financially sophisticated investors evaluating private funds, Delaware Statutory Trusts, 1031 and 1033 exchanges, Opportunity Zones, and other alternative investments.
About Al
Al DiNicola, AIF®, is a Private Fund Advisor and Investment Adviser Representative with Fiduciary Capital Management LLC. He works primarily with accredited and financially sophisticated investors evaluating private funds, alternative investments, Delaware Statutory Trusts, and tax-deferred real-estate exchange strategies.
Al assists clients through objective analysis, risk assessment, portfolio context, and education. His role is designed to help investors better understand investment structures, sponsor backgrounds, liquidity limitations, capital commitments, distribution expectations, debt exposure, investment timelines, and the risks associated with private-market investments.
Private-markets advisory services are generally provided on a non-discretionary basis. Clients retain complete authority over whether to participate in any private investment opportunity. Fiduciary Capital Management does not sponsor private funds, manage pooled investment vehicles, or control client assets within private investments.
Private-Markets Advisory Approach
Al believes that private-investment analysis should begin with the investor’s financial circumstances, liquidity needs, time horizon, income objectives, tax considerations, risk tolerance, and existing portfolio exposure.
His process emphasizes education first, clear communication, independent evaluation, and coordination with the client’s CPA, attorney, qualified intermediary, financial adviser, and other professional advisers when appropriate.
The objective is not simply to review an individual offering, but to help the client understand how a potential investment may affect portfolio concentration, cash flow, diversification, liquidity, estate-planning objectives, and overall financial risk.
Client Focus
- Accredited and financially sophisticated investors evaluating private funds or alternative investments
- Real-estate investors selling appreciated investment property
- Property owners considering a Section 1031 or Section 1033 exchange
- Retiring landlords seeking to reduce day-to-day property management responsibilities
- High-net-worth families considering income, diversification, tax, and legacy-planning objectives
- Investors seeking independent review of private-investment structures, sponsors, debt, fees, liquidity, and risk
Areas of Focus
Private Fund Review
Reviewing private-investment strategy, structure, offering documents, sponsor background, fees, liquidity, risk, and portfolio relevance.
Delaware Statutory Trusts
Helping accredited investors understand DST ownership, sponsor risk, property type, debt structure, projected distributions, hold periods, and potential exit scenarios.
1031 & 1033 Exchanges
Coordinating educational and advisory support involving identification deadlines, replacement-property options, qualified intermediaries, and portfolio considerations.
Sponsor & Structure Analysis
Evaluating sponsor experience, investment strategy, capitalization, leverage, management responsibilities, conflicts, and reporting practices.
Portfolio Diversification
Considering how private investments may affect asset-class, property-type, geographic, sponsor, liquidity, and concentration exposure.
Ongoing Private-Asset Monitoring
Supporting the organization and review of capital calls, distributions, sponsor communications, investment updates, and portfolio-level private-asset information.
Private-Markets Advisory Services
Services provided through Fiduciary Capital Management may include:
- Independent review of private-investment offerings
- Analysis of fund structure, investment strategy, and sponsor background
- Evaluation of liquidity terms, capital commitments, fees, and investment timelines
- Portfolio-allocation and diversification considerations
- Review of leverage, debt structures, and investment risks
- Monitoring of capital calls, distributions, and sponsor communications
- Ongoing consultation regarding private-investment exposure within the client’s broader portfolio
Private-Asset Organization & Monitoring
Fiduciary Capital Management may use the MyAltsData.com platform to help advisers and clients organize information regarding private investments. The platform may assist with tracking positions, capital commitments, distributions, sponsor communications, geographic exposure, and portfolio-level private-investment information.
My Alts Data is an organizational and reporting resource. It does not replace the official books and records maintained by fund sponsors, administrators, transfer agents, custodians, or other authorized service providers.
Professional Background
Al’s professional career includes decades of experience in real estate development, real-estate brokerage, commercial real estate, investment consulting, securities, private funds, and tax-deferred exchange strategies.
His prior roles have included Vice President of Real Estate Sales, real-estate broker and director of sales, commercial real-estate consultant, real-estate workout specialist, project manager, DST and 1031 consultant, registered representative, and investment adviser representative.
Al is also associated with DST.Investments and DSTNews.org, which provide educational information and industry commentary concerning DSTs, Section 1031 and 1033 exchanges, Opportunity Zones, private investments, and related real-estate strategies. He is a co-author and co-editor of DST Wealth Building, an educational publication for investors and professional advisers.
Important Private-Investment Risks
Private funds, DSTs, and other alternative investments can involve substantial risks and are not appropriate for every investor. Risks may include:
- Limited liquidity and extended holding periods
- Valuation uncertainty and limited secondary markets
- Reliance on sponsor, manager, operator, or tenant performance
- Leverage, refinancing, interest-rate, and real-estate-market risk
- Limited transparency and less frequent reporting than public securities
- Tax-law, regulatory, and exchange-qualification risks
- The possible loss of all or a substantial portion of invested capital
Investors should carefully review all offering documents and consult appropriate legal, tax, accounting, and financial professionals before making an investment decision.
Regulatory Information
Al DiNicola is registered as an Investment Adviser Representative of Fiduciary Capital Management LLC. His personal CRD number is 1305518. He is also separately registered with MSC-BD, LLC in a brokerage capacity.
- Al DiNicola Personal Regulatory Profile – Form ADV Part 2B
- Fiduciary Capital Management – Form ADV Part 2A and Public Disclosure
- Fiduciary Capital Management – Form CRS
- FINRA BrokerCheck – Al DiNicola
- MSC-BD, LLC – Form CRS
- Fiduciary Capital Management – Privacy Policy
Regulatory records may be updated after the publication date of a brochure supplement. Investors should review the current SEC IAPD and FINRA BrokerCheck records for the most recent registration and disclosure information.
Advisory and Brokerage Capacity Disclosure
When acting as an Investment Adviser Representative of Fiduciary Capital Management LLC, Al provides advisory services under the firm’s advisory agreements and is generally compensated through advisory fees. Al is also separately registered with MSC-BD, LLC, a FINRA-member broker-dealer. When acting in a brokerage capacity, he may offer or facilitate securities transactions, including certain private investments, and may receive commissions or other transaction-based compensation through MSC-BD, LLC. This creates a potential conflict of interest because brokerage compensation may differ from advisory fees. Clients are not required to complete brokerage transactions through MSC-BD, LLC, and the capacity in which Al is acting should be disclosed when discussing or facilitating an investment.
Start a Conversation
Schedule a confidential introductory meeting with Al to discuss a private-investment review, Delaware Statutory Trust, 1031 or 1033 exchange, Opportunity Zone, real-estate transition, or broader private-markets advisory need.
Schedule an Appointment