Alternative investments marketplace iCapital Network will build a customized technology platform for PIMCO to give advisors and clients access to the asset manager’s alternative strategies.
iCapital will automate the subscription process, provide transparency into the investing process, and integrate performance and tax reporting for PIMCO’s alternative strategies.
Other firms in the financial services space have been working to make alternatives more accessible via technology. Schwab recently launched a new alternative investments marketplace, with iCapital as its first “platform provider.” Last year, RBC launched a digital alts platform in partnership with Artivest. The partners saw a “significant” increase in the number of alternative investment transactions and noted the efficiencies created by digitizing the “non-systemized, paper-based” processes the bank had previously used.
“Alternative investments have historically been difficult to implement for the wealth management community, leaving advisors and investors without access to the benefits they can provide,” said Lawrence Calcano, CEO of iCapital Network. “We are thrilled to continue to scale our services across the asset and wealth management spectrum to make streamlined access to alternatives a reality for advisors.”