With a rush of individuals exploring alternative assets for the first time, a platform dedicated to that space is slashing fees that it says affect portfolio performance for such investments.
CAIS, which works with more than 34,000 financial advisers, is cutting fees to as low as 0.05% for feeder funds that direct investors to alternative assets.
The firm currently charges as much as 0.20%, according to people familiar with the matter.
The firm aims to set a new industry standard that lowers fees and makes them more transparent, as part of an effort to "truly democratize alternative investments," CAIS's founder and chief executive officer, Matt Brown, wrote in a memo to clients.
"If adopted broadly, this change in fees could save end-investors hundreds of millions, if not billions, per annum in unnecessary fees and expenses," he wrote.
