The streamlined solution will help advisors
compete more effectively for high-net-worth clients
Commonwealth Financial Network®, a national firm dedicated to
providing financial advisors with holistic, integrated business
solutions, announces its partnership with iCapital1, the global
fintech platform driving the world’s alternative investment
marketplace for the wealth management industry. The company
delivers a white-labeled platform and enables affiliated advisors
to efficiently source nontraded alternative investment
opportunities for high-net-worth (HNW) client portfolios.
According to a recent study by Cerulli Associates, the demand
for alternative investments is increasing among HNW investors. By
scaling its alternative investment offering, Commonwealth gives
advisors direct access to high-quality alternative investment funds
vetted by the firm’s Alternative Investments team.
“The iCapital partnership allows Commonwealth to supplement our
existing alternative investments product platform with a suite of
products designed for high-net-worth investors,” explained Chad
LaFauci, vice president of alternative investments. “Investing in
private alternatives has historically been a cumbersome process
with a lot of paperwork. The process is digitized with iCapital,
making it easier and more streamlined. Our advisors now can reclaim
time to focus on other priorities while having access to a more
powerful way to attract and retain high-net-worth clients,” LaFauci
added.
The custom platform is a direct response to feedback from
advisors seeking additional solutions to help them more effectively
compete for—and win—HNW business. The wide range of exclusive
investment options is curated to help Commonwealth affiliates
diversify HNW investors’ portfolios with options generally reserved
for institutional investors.
“What Commonwealth’s strategic partnership with iCapital gives
us is critical because it’s a side-by-side comparison that would
take me hours to create—hours that I don’t have to spare,” shared
affiliated advisor Justin Bitner, CFP®, ChFC®, AIF®, RICP®, wealth
manager at Sterling Financial Group in Salt Lake City, Utah. “I
also have talking points with clients that are right there for me
in a consistent format. There’s so much that lends itself to
efficiencies, and I love it.”
Honed during a pilot program, this end-to-end solution allows
advisors to conduct research and education, perform due diligence,
and facilitate subscriptions through one integrated platform. While
the current product set is geared toward HNW investors, the goal is
to expand the product set to accommodate additional net worth
levels in the future.
About Commonwealth Financial Network®
Commonwealth Financial Network, Member FINRA/SIPC, a Registered
Investment Adviser, provides financial advisors with holistic,
integrated solutions that support business evolution, growth
acceleration, and operational efficiency. J.D. Power ranks
Commonwealth “#1 in Independent Advisor Satisfaction Among
Financial Investment Firms, 10 Times in a Row.” Privately held
since 1979, the firm has headquarters in Waltham, Massachusetts,
and San Diego, California. Learn more about how Commonwealth
partners with approximately 2,200 independent financial advisors
overseeing more than $296 billion* in assets nationwide by visiting
www.commonwealth.com.
Commonwealth received the highest score among independent
advisors in the J.D. Power 2010, 2012, 2013, 2014, and 2018‒2023
U.S. Financial Advisor Satisfaction Studies. Presented on July 5,
2023, for December 2022 to April 2023, it is based on responses
from 4,183 advisors employed by or affiliated with the firms
included in the study. Not indicative of the firm’s future
performance. Your experience may vary. Study is independently
conducted, and the participating firms do not pay to participate.
Use of study results in promotional materials is subject to a
license fee. Visit jdpower.com/awards for more details.
* As of 12/31/2023
About iCapital
iCapital powers the world's alternative investment marketplace,
offering a complete suite of tools, end-to-end enterprise
solutions, data management and distribution capabilities, and an
innovative operating system. iCapital is the trusted technology
partner to independent financial advisors, wealth managers, and
asset managers, offering unrivaled access, technology, and
education to incorporate alternative assets into the core portfolio
strategies for their clients.
At the forefront of the digital transformation in alternative
investing, iCapital's secure platform delivers a complete portfolio
of management capabilities for education, transactions, data flows,
analytics, and client support throughout the investment lifecycle.
With $184.72 billion in global platform assets, the iCapital
operating system automates and streamlines the complex process of
private market investing and seamlessly integrates with clients'
existing infrastructure platform and tools.
iCapital employs more than 1,450 people globally and has 12
offices worldwide, including New York, Greenwich, Zurich, Lisbon,
London, Hong Kong, Singapore, Tokyo, and Toronto. iCapital has
consistently been recognized for its outstanding innovation,
fintech industry leadership, and performance, including Forbes
Fintech 50 for 2018, 2019, 2020, 2021, 2022, 2023, and 2024 and
MMI/Barron’s Industry Awards as Solutions Provider of the Year for
2020, 2021, 2022, and 2023.
For more information, visit https://icapital.com | Twitter (X):
@icapitalnetwork
LinkedIn:
https://www.linkedin.com/company/icapital-network-inc/
Disclosure
This material has been provided to you for informational
purposes only by iCapital, Inc. and/or one of its affiliates
including Institutional Capital Network, Inc. (collectively,
“iCapital”). This material is the property of iCapital and may not
be shared without its written permission. No part of this material
may be reproduced in any form, or referred to in any other
publication, without express written permission of iCapital. This
is not intended as, and may not be relied on in any manner as,
legal, tax or investment advice, a recommendation to employ a
specific investment strategy, or as an offer to sell, a
solicitation of an offer to purchase, or a recommendation of any
interest in any fund or security. Security products and services
are offered through iCapital Markets LLC, a registered
broker/dealer, member FINRA and SIPC. Financial products made
available by iCapital Markets LLC may be complex and/or speculative
and are not suitable for all investors. iCapital Advisors, LLC is
an investment adviser registered with the Securities and Exchange
Commission and acts as an adviser to certain privately offered
investment funds. “iCapital” and “iCapital Network” are registered
trademarks of Institutional Capital Network, Inc.
© 2024 Institutional Capital Network, Inc. All Rights
Reserved.
[1] iCapital, Inc., and its affiliates (together, “iCapital”)
[2] As of March 31, 2024
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version on businesswire.com: https://www.businesswire.com/news/home/20240521243277/en/
For additional information, contact: Sarah Baun Public
Relations Manager Commonwealth Financial Network 781.464.7138
sbaun@commonwealth.com www.commonwealth.com