Tech-focused custodian Altruist has added alternative assets to its platform, along with margin, options and faster money movement. With the move, the firm joins a crowded field of companies seeking to streamline private market investments in the wealth channel.<\/p>\n
At launch, Altruist\u2019s alternatives marketplace includes strategies across private equity, real estate and infrastructure from Blackstone, J.P. Morgan Asset Management, KKR and Pantheon.\u00a0<\/p>\n
Altruist\u2019s pitch is that, unlike standalone alternative asset platforms, which require coordinating through different investor portals, advisors can \u201cprepare and send clients documents for review and signature, and manage reporting and billing\u2014all without leaving the platform.\u201d\u00a0<\/p>\n
\u201cAdvisors are competing for clients who want access to private markets, more personalized strategies and flexible ways to manage liquidity,\u201d Altruist CEO and founder Jason Wenk said in a statement. \u201cUntil now, delivering that access often meant working across multiple systems and inefficient workflows. We\u2019ve built these capabilities directly into the Altruist platform so advisors can run their best practice in one streamlined experience.\u201d
Alternative strategy data on Altruist flows into client portfolios, and clients can see them alongside their traditional assets and investments. Furthermore, Altruist is charging no custody fees for partner funds at launch.<\/p>\n