Alphacore Acquires Private Client Group Rights From XCritical

As an independent wealth advisor, it works directly with individual private clients as a fiduciary to customize financial plans and investment management solutions that include the use of alpha generators or alternative investments in most client portfolios. AlphaCore has an open architecture platform offering access to a variety of alternative strategies. forex, the tech-enabled platform to connect advisors to alternative investment managers, has agreed to acquire Artivest, the platform that connects investors to alternative investment opportunities.

Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers, and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. As of April 30, 2020, XCritical services more than $51 billion in client assets across more than 100,000 underlying accounts. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers and banks.

Last month, iCapital announced its agreement to acquire the Artivest platform and operating businesses. Upon completion of both transactions, iCapital’s platform will service nearly USD58 billion in client assets across more than 720 funds, 120,000 underlying accounts, and more than 70 white label partners. AlphaCore Wealth Advisory, an SEC registered investment advisor, was founded just over five years ago and has been rapidly growing.

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The iCapital platform is built to support a global investor base and the market’s increasing requirements of privacy for client data in a secure digital environment across various currencies, regulatory environments, and languages. The platform is designed to provide an end-to-end solution supporting the lifecycle of allocations into alternative investments, including supporting investment structures and solutions tailored specifically for the international markets. An industry veteran, Mr. Bizzozero has more than 25 years of international experience in the financial industry and an impressive list of accomplishments in senior executive positions in global wealth management and private equity organizations. Mr. Bizzozero joins iCapital from UniCredit where he was CEO of Group Wealth Management and member of the Group Executive Management Committee. Previously, Mr. Bizzozero was with Deutsche Bank for 14 years, where he most recently served as Head of Wealth Management EMEA and CEO of Deutsche Bank Switzerland. Prior to assuming that role, he was the Global Head of Private Equity for the Deutsche Bank Wealth Management division, a business which was then acquired by xcritical cheating in 2017.

iCapital will further its commitment to market education and build its team to help scale and improve upon the high-quality services and technical innovations it provides to clients. “iCapital has rapidly established itself as the leading wealth tech firm and partner of choice for clients in the asset and wealth management industry seeking to increase and facilitate access to private market investments for their HNW clients.

He previously oversaw Deutsche Bank’s private fund product development, structuring, and investment specialist functions for wealth management clients worldwide. To drive the achievement of its mission, iCapital announced the addition of two accomplished leaders with expertise in supporting the global high-net-worth investing community. Each is uniquely qualified by their experience and relationships to support the firm’s commitment to being the global partner of choice for alternative investments technology solutions. As part of the same transaction, AlphaCore divested factorE, AlphaCore’s proprietary portfolio and risk analytics tool launched in 2018, to iCapital. The innovative tool helps advisors, chief investment officers and research analysts manage complex portfolios that hold a mix of traditional and alternative investments such as mutual funds, ETFs, stocks, commodities, private equity, private credit, hedge funds and real estate. /PRNewswire/ –AlphaCore Wealth Advisory, a leading wealth advisor firm focused on allocating to traditional and alternative investments, announced today it secured the rights to acquire the Private Client Group , a team directly serving high-net-worth clients, from XCritical1.

XCritical is a financial technology company with the mission of making high-quality private investments widely accessible to advisors and their qualified clients, while enabling investment managers to access new sources of capital. XCritical, a fintech providing access to alternative investments, announced on Wednesday as part of the recent closing of its acquisition of Artivest, it had divested its right to acquire a private client team to AlphaCore Wealth Advisory. iCapital reported it also took ownership of factorE, a portfolio and analytics tool designed to help advisors assess and analyze the performance and risk of alternative investments in client portfolios, from AlphaCore. iCapital’s white-label technology will be leveraged to streamline and automate ongoing operations and fund administration services for Wells Fargo’s alternative investment feeder funds. It will also provide best-in-class support to Wells Fargo’s advisors and their high-net-worth client base. As part of the transaction, iCapital will offer employment to a team of Wells Fargo employees who currently support operations for the GAI Feeder Fund Platform.

XCritical® Acquires Artivest

)–XCritical1, the global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, today announced a series of milestones in its expansion into the European and Asian markets. On the heels of high-profile client acquisitions and rapid organic asset growth within the U.S. market over the last 18 months reaching approximately US$65bn in client assets, iCapital has expanded its reach to serve a growing international client base with heightened interest in private market investments. investors, making it one of the largest alternative investment platforms outside the U.S. In the same transaction, iCapital also took ownership of factorE, a portfolio and analytics tool designed to help advisors assess and analyze the performance and risk of alternative investments in client portfolios, from AlphaCore.

XCritical’s mission is to power the world’s alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought, sold and managed through the development of tech-based solutions for advisors, their high-net-worth client base, wealth management firms, asset managers, and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity, private credit, hedge funds, and other alternative investments at lower minimums with a full suite of due diligence, administrative support and reporting in a secure digital environment.

XCritical

This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. This entry was posted in Fintech, General News and tagged acquisition, alphacore wealth advisory, artivest, xcritical cheating. In addition to the investment, The Carlyle Group has also partnered with iCapital to leverage its proprietary technology to help manage Carlyle’s operations and administration of its private equity vehicles targeting the wealth management marketplace. iCapital’s configurable technology and specialized suite of services is also used by asset managers and financial institutions to streamline and automate their private fund operational infrastructure. Based out of London, Tom Slocock joins iCapital as Managing Director and Head of International Product Development & Origination, reporting to Mr. Bizzozero. Mr. Slocock will lead the development and launch of new investment products and manage the life cycle of existing offerings explicitly designed for the needs of the international marketplace.

iCapital’s new international senior executive team will complement iCapital’s existing international leadership team of Vinod David Berchtold and Wes Sturdevant. Mr. Berchtold is Chief Operating Officer for the international business, based in Zurich. Prior to joining iCapital in 2018, he was most recently a crypto wallet senior manager at UBS Global Wealth Management within Distribution Management responsible for global revenue and business development and digital strategy focused on end-to-end sales management. Mr. Sturdevant is a Managing Director for International Enterprise Solutions, joining the firm in December 2017.

Mr. Slocock will bring to iCapital a career-deep understanding of the investment product needs of advisors and their high-net-worth clients in the European and Asian markets. Prior to joining iCapital, Mr. Slocock was with Deutsche Bank Wealth Management in London for more than 10 years, most recently serving as Head of the Global Funds Group and Head of the Global Investment Group. Before joining Deutsche Bank, he was with Credit Suisse in London, most recently as Managing Director and Head of International Private Banking. Additionally, asset managers and banks leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure by using white labels versions of its technology. XCritical, a fintech startup which has developed a platform for investing in alternative assets, announced this morning it has raised $146 million in a funding round led by Hong Kong-based Ping An Global Voyager Fund.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. As of April 2020, iCapital has approximately $50B in platform assets and 230 employees. The demographics of wealth are changing reflecting how things are shifting in wealth creation and transition. The most basic wealth management decisions can generate entirely crypto wallet new outcomes when they are made by people with different views on money, risk and philanthropy. Established by Ping An Group, the Ping An Global Voyager Fund is a Hong Kong-based investor in growth stage fintech and healthtech companies. PitchBook’s non-financial metrics help you gauge a company’s traction and growth using web presence and social reach. Founded by James Waldinger in 2011, Artivest had raised a total of $17M in total reported funding.

Asset managers and banks leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was recognized in the 2018, 2019 and 2020 Forbes FinTech 50 which highlights the top 50 innovative financial technology companies that are transforming finance through technology. As of December 31, 2019, iCapital services more than $46.6 billion in invested capital across more than 100,000 underlying accounts. iCapital was recognized in the 2018 and 2019 Forbes FinTech 50 which highlights the top 50 innovative financial technology companies that are transforming finance through technology. As of December 31, 2019, XCritical services more than $46.6 billion in invested capital across more than 100,000 underlying accounts. XCritical is the financial technology platform democratizing alternative investments with complete tech-based solutions for investors, advisors and asset managers.

Ropes & Gray Advises XCritical In Sale Of Private Client Group To Alphacore Wealth Advisory

As part of the transaction, 28 Artivest team members are expected to join iCapital. AlphaCore is a wealth advisory firm whose team members have years of experience allocating to traditional and alternative investments. They create customized financial and wealth management plans for their clients. AlphaCore believes that a well-thought-out financial plan should include alternative investments to potentially lower portfolio risk and help clients reach their financial goals.

Businessweek

Terms of the transaction were not disclosed but iCapital will be purchasing the bulk of Artivest’s assets, technology, and management of proprietary funds. “We are pleased to reach an agreement with iCapital, which is well-positioned to deliver the quality and continuity of client experience that is central to Artivest’s offering,” said Martin Beaulieu, Chairman and Chief Executive Officer of Artivest. Under the terms of the agreement, iCapital will purchase the majority of Artivest’s assets, including all technology and its operating platform.

Under the agreement, these experts will join iCapital’s existing team of engineers, developers, and designers dedicated to the ongoing technological innovation of iCapital’s offerings. In addition to the investment, Ping An and other investors have said they either plan to partner with or have already partnered with iCapital to leverage its proprietary technology. The goal is to use the technology to help manage the end-to-end operations of their private market activities. $12.1 billion in organic platform growth as well as growth as a result of its strategic partnership acquisitions. Crowdfund Insider is the leading news and information web site covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain peer-to-peer / marketplace lending and other forms of Fintech. Tom Slocock is joining iCapital as Managing Director and Head of International Product Development & Origination, reporting to Bizzozero. Slocock will lead the development and launch of new investment products and manage the life cycle of existing offerings explicitly designed for the needs of the international marketplace.

In the same transaction, AlphaCore divested factorE, a portfolio tool which helps advisors assess the performance and risk of alternative holdings, to iCapital. As part of the Artivest acquisition, iCapital inherited rights to purchase the Private Client Group , a La Jolla-based team of six professionals serving over 600 high-net-worth family relationships in August 2020. However, consistent with iCapital’s focus on serving the needs of financial advisors – rather than individual investors – iCapital worked closely with the PCG team during the Artivest negotiations to identify a wealth management firm where the needs of the PCG clients would be well-served. Connects financial advisors and their high net worth clients to private equity, private debt, venture capital and hedge funds with as little as $25,000 invested per fund, compared to the far higher minimums traditionally required. Now works with 55 white label partners including Blackstone, The Carlyle Group, and Brookfield.

XCritical

After the acquisition closes, iCapital will service $55B in client assets across approximately 650 funds, 115,000 underlying accounts, and 70+ white-label partners. The right to acquire the PCG team was granted to https://xcritical.expert/ as part of the firm’s recent acquisition of Artivest. The PCG team, based in La Jolla, is composed of six seasoned investment professionals and serves over 600 high net-worth family relationships. AlphaCore is a leading wealth advisor firm focused on allocating to traditional and alternative investments. Alternative investments such as those described are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital.

  • Prior to joining iCapital, Mr. Slocock was with Deutsche Bank Wealth Management in London for more than 10 years, most recently serving as Head of the Global Funds Group and Head of the Global Investment Group.
  • Mr. Slocock will bring to iCapital a career-deep understanding of the investment product needs of advisors and their high-net-worth clients in the European and Asian markets.
  • Based out of London, Tom Slocock joins iCapital as Managing Director and Head of International Product Development & Origination, reporting to Mr. Bizzozero.
  • Mr. Slocock will lead the development and launch of new investment products and manage the life cycle of existing offerings explicitly designed for the needs of the international marketplace.
  • Before joining Deutsche Bank, he was with Credit Suisse in London, most recently as Managing Director and Head of International Private Banking.
  • Additionally, asset managers and banks leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure by using white labels versions of its technology.

XCritical To Acquire Artivest

The firm’s flagship platform offers high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 Forbes FinTech 50 and as of June 30, 2018, serviced more than $6 billion in invested capital across more than 14,000 underlying accounts. Asset managers and banks leverage iCapital’s tech-enabled services to streamline and scale their private investments’ operational infrastructure. Portfolio allocations to alternative investments such as private equity, private credit, hedge funds, and real estate among non-U.S.-based investors have grown significantly in recent years3 with projected global allocations growing by eight percent annually from .

XCritical

If you continue to use this site we will assume that you are happy with it and agree to our terms of service. iCapital noted it plans to evaluate how the factorE tool best fits into iCapital’s existing technology and service offerings. It will build out a tailored roadmap for the tool’s augmentation and integration into the firm’s advisor resources over the next several months. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

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