Alternative Investment

Adviser Product Partnerships | PLANADVISER


Broadridge to Provide IGM With Broker Solution for Years to Come

Broadridge Financial Solutions signed a multi-year contract extension with IGM Financial Inc.’s wealth management division that will see IG Wealth Management continue to offer Broadridge’s R·Broker digital wealth platform, the firms announced in a press release.

Broadridge will continue providing IG Wealth Management with its broker solution as the wealth management industry continues to leverage digital platforms with clients, according to Lake Success, New York-based Broadridge. The extension adds to a five-year partnership between the financial firms.

“The Broadridge R·Broker Wealth solution provides IG with enterprise-wide benefits through streamlined operations, timely access to market product advantages and the ability to consistently offer products and services across any channel,” Karin Yorfido, general managerof global technology and Canadian operations at Broadridge, said in the release.

Winnipeg, Manitoba-based IG added that it will continue to expand its deployment of Broadridge’s capabilities, including core recordkeeping, regulatory and innovative capabilities for STP processing across currencies, dealers, regulations and jurisdictions.

Reverence Capital Selects CAIS for Alternative Wealth Channel

Investment firm Reverence Capital Partners will be adding select alternative investment strategies to CAIS’ alternative investment platform as Reverence seeks to expand and diversify its shareholder base, the firms announced in a press release.

Reverence, which specializes in private equity and structured credit, will make select funds available to thousands of registered investment advisers and investment banking divisions that use the CAIS platform to access alternative investment funds, according to the New York-based companies. The Reverence funds have undergone a third-party due diligence approval conducted by Mercer.

The addition of Reverence’s products aligns with CAIS’ goal of making alternative investment opportunities available to the independent wealth channel to ensure that financial advisers have the same access to alternatives as large institutional counterparts.

“With allocations to alternatives expected to continue rising in 2023, we believe that adding additional quality alternative products on the CAIS platform is essential to empowering advisers to gain confidence in meeting client expectations,” Matt Brown, founder and CEO of CAIS, said in the release.

Reverence participated in CAIS’ $340 million equity raise in 2022, alongside Apollo, Motive Partners, Franklin Templeton, Hamilton Lane and Stone Point Ventures. CAIS works with more than 7,400 unique advisers who oversee more than $3 trillion in network assets, and CAIS has facilitated more than $20 billion in transaction volume, according to the company.

Sanctuary Wealth Chooses Wealthbox for Client Management

The Sanctuary Wealth adviser network has chosen customer relationship platform manager Wealthbox for its adviser use, according to a press release.

Sanctuary Wealth signed a multi-year agreement with Providence, Rhode Island-based Wealthbox Enterprise to use its CMR technology for internal collaboration, as well as to manage client relationships, according to the firms.

“We have been using Wealthbox for three years, and their technology has proven to have high user adoption among our existing advisers,” Jene Hoosier, head of platform strategy at Sanctuary Wealth, said in the release. “We also believe their CRM will help attract new breakaways, which aligns with our overall growth objectives.”

Sanctuary Wealth is based in Miami and has partner firms in 28 states with about $25 billion in assets under advisement.

Mako Fintech and PortfolioAid Team Up to Provide Adviser Management Platform

Mako Financial Technologies Inc. and Portfolio Aid Inc. announced in a press release a strategic partnership to expand their service offerings for financial advisers and wealth managers.

The firms will offer wealth technology solutions to streamline client workflows for onboarding, portfolio construction, account servicing and ongoing compliance management.

Toronto-based PortfolioAid provides wealth compliance technology featuring product risk ratings, trade supervision, portfolio suitability modeling and customer management tools.

“With PortfolioAid and Mako’s proven solutions, we can help advisers elevate the investor experience while reducing financial, regulatory and reputational risk for themselves and their firms,” Sam Webster, PortfolioAid CEO, said in the release.

Montreal-based Mako Fintech integrates unique operational processes and their corresponding forms into a single, unified experience all the way from the investor to the portfolio manager or introducing broker to the custodian. The firm’s platform also offers partners the ability to automate and modernize adviser and investor experiences.

“At Mako, we are relentlessly focused on eliminating tedious manual processes, freeing advisers to focus on giving great advice,” Raphael Bouskila, Mako’s founder and president, said in the release.

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