Commonwealth Financial Network announced Tuesday a partnership with the alternative investment platform iCapital to help meet the growing demand for such assets.
The fintech, which serves wealth managers, provides a white-label platform, enabling affiliated advisors to find nontraded alternative investments for high-net-worth client portfolios, Commonwealth said.
The firm cited a recent Cerulli Associates study that found the demand for alternative investments is increasing among HNW investors.
"The iCapital partnership allows Commonwealth to supplement our existing alternative investments product platform with a suite of products designed for high-net-worth investors," Chad LaFauci, vice president for alternative investments, said in a statement.
"Investing in private alternatives has historically been a cumbersome process with a lot of paperwork," he added. "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."
