DST, 1031 & 1033 Consulting
Independent consulting and analysis for investors evaluating Delaware Statutory Trusts, tax-deferred exchanges, involuntary conversions, and Opportunity Zone strategies.
Fiduciary CM® helps investors understand available options, evaluate important tradeoffs, identify investment risks, and organize a decision-making process aligned with their objectives, liquidity needs, time constraints, and broader financial plan.
Al DiNicola, AIF®
Private Fund Advisor | Investment Adviser Representative
Structured guidance for complex real-estate transitions
Real-estate transition decisions may involve strict deadlines, illiquid investments, sponsor due diligence, financing considerations, tax questions, and coordination among several professional advisers.
1031 Exchange DST Consulting
For investors selling appreciated investment property and considering a Delaware Statutory Trust as replacement property.
- Compare available DST offerings and ownership structures
- Review stated strategy, fees, leverage, and liquidity restrictions
- Evaluate projected income, anticipated hold periods, and potential exit scenarios
- Organize questions for sponsors, qualified intermediaries, and other professionals
1033 Involuntary Conversion Consulting
For property owners addressing a condemnation, casualty, seizure, or other potentially qualifying involuntary conversion.
- Review replacement-property considerations and investment objectives
- Evaluate DSTs as one potential replacement-property structure
- Consider cash flow, liquidity, financing, and portfolio needs
- Coordinate the review with the client’s tax and legal professionals
Opportunity Zone Strategy Support
For investors considering Qualified Opportunity Funds and other Opportunity Zone investment strategies.
- Review the stated investment strategy and underlying assets
- Identify leverage, concentration, sponsor, and liquidity risks
- Evaluate fee layers, timelines, and possible exit limitations
- Compare Opportunity Zone investments with other real-estate allocation choices
A disciplined consulting framework
Each engagement begins with the investor’s circumstances and objectives—not with an individual investment offering.
Discovery Call
Clarify the transaction, investment objectives, liquidity needs, timing requirements, income goals, risk tolerance, and broader portfolio considerations.
Review of Materials
Review available sponsor presentations, offering materials, property information, financing highlights, fee schedules, and stated investment assumptions.
Structured Comparison
Develop a comparison framework identifying material differences in strategy, property exposure, leverage, fees, liquidity, projected income, and risk.
Implementation Coordination
When requested, coordinate with the qualified intermediary, CPA, attorney, financial adviser, and other professionals involved in the transaction.
Understand the investment before making the commitment
Delaware Statutory Trusts and other private real-estate investments may involve extended holding periods, limited liquidity, sponsor dependence, leverage, financing risk, valuation uncertainty, and substantial restrictions on transfer or redemption.
Fiduciary CM® helps investors examine how a proposed investment may affect cash flow, diversification, sponsor concentration, geographic exposure, property-type exposure, liquidity, estate-planning objectives, and overall portfolio risk.
Clients retain complete authority over whether to proceed with any investment. Consulting and advisory services are generally provided on a non-discretionary basis.
Who This Service Is For
Clear scope before work begins
The appropriate arrangement depends on the complexity of the transaction, the number of investments being reviewed, and whether ongoing advisory or monitoring services are requested.
Flat-Fee Consulting
A defined consulting engagement for reviewing investment options, comparing available information, identifying material considerations, and coordinating with the investor’s other professionals.
Ongoing Advisory Services
An ongoing advisory arrangement may be available when the investor requests continued portfolio analysis, private-asset organization, investment monitoring, or broader financial guidance.
Important Disclosures
No Tax or Legal Advice
Fiduciary Capital Management LLC does not provide legal, accounting, or tax advice. Investors should consult their attorney, CPA, qualified intermediary, and other appropriate professionals regarding Section 1031, Section 1033, Opportunity Zone requirements, deadlines, eligibility, and potential tax consequences.
No Guarantee of Results
Any discussion of potential income, tax treatment, appreciation, distributions, holding periods, or investment performance is based on available information and is not guaranteed. Actual results may differ materially.
Illiquidity and Investment Risk
DSTs, Qualified Opportunity Funds, private funds, and other alternative investments are speculative and may be illiquid. They may involve leverage, refinancing risk, sponsor risk, real-estate-market risk, valuation uncertainty, limited transparency, transfer restrictions, extended holding periods, and the possible loss of all or a substantial portion of invested capital.
Due-Diligence Limitations
Any review by Fiduciary CM® is based on information made available by sponsors, issuers, property managers, administrators, and other third parties. Such a review does not replace independent legal, tax, accounting, engineering, environmental, appraisal, or property-level due diligence.
Advisory and Brokerage Capacity
When acting as an Investment Adviser Representative of Fiduciary Capital Management LLC, Al DiNicola provides advisory services under the firm’s advisory agreements. Al is also separately registered with MSC-BD, LLC in a brokerage capacity. When acting in a brokerage capacity, securities may be offered through MSC-BD, LLC, Member FINRA/SIPC, and transaction-based compensation may be received. The capacity in which Al is acting should be disclosed when discussing or facilitating an investment.
Ready to evaluate your options?
Schedule a confidential introductory meeting with Al DiNicola to discuss your timeline, objectives, liquidity needs, and the potential role of a DST, 1031 exchange, 1033 replacement property, or Opportunity Zone strategy.
The information provided by the Fiduciary Capital Management LLC, ("FCM" or "Fiduciary CM") website is for educational and informational purposes only and is not intended as tax, legal, or investment advice. You should consult with a qualified legal or tax professional regarding your individual circumstances. The opinions expressed are those of the author and are subject to change without notice. This material should not be considered a solicitation for the purchase or sale of any security. We take protecting your personal information and privacy seriously. In accordance with the California Consumer Privacy Act (CCPA), California residents may exercistheir privacy rights by visiting this link. Advisory services are offered through Fiduciary Capital Management,LLC ("FCM") a registered investment adviser. Insurance products are offered through independent insurance agencies, not affialted with FCM. Copyright © Fiduciary Capital Management LLC 2026. All rights reserved.