Stephen Wedel, an LPL adviser and founding partner of Four Seasons Wealth Management in St. Louis, is gathering a lot of assets by investing his clients' money in alternatives, including non-traded real estate investment trusts, oil-and-gas limited partnerships, managed futures and private equity.

In the past 10 years that the 28-year industry veteran has been offering alternative investments to his clients, he's doubled his assets to $250 million.

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