Key Takeaways
- • NewEdge Wealth, a registered investment advisor serving ultra-high-net-worth families, family offices and institutions, added iCapital's technology platform to expand alternative investment access for its advisors and clients, according to a Business Wire announcement dated October 23, 2023.
- • The partnership gives NewEdge advisors a curated menu spanning private equity, private credit, real estate and hedge funds, plus the ability to purchase structured investment opportunities.
- • iCapital's technology automates subscription, administration, operational and reporting processes across the life of the funds, and advisors gain access to research, due diligence, education and product training.
- • NewEdge Capital Group reports over $42 billion in client assets and more than 75,000 client accounts; iCapital reports over $166 billion in global client assets across more than 1,300 funds as of August 31, 2023.
Summary
NewEdge Wealth, LLC, a registered investment advisor focused on ultra-high-net-worth families, family offices and institutional clients, and iCapital, a global fintech platform for alternative investment access in the wealth management industry, announced a strategic partnership that gives NewEdge Wealth financial advisors and their high-net-worth clients access to a diversified range of alternative investment opportunities, according to the Business Wire release.
The partnership includes a customized technology offering that provides NewEdge advisors with a curated menu of alternative strategies, including private equity, private credit, real estate and hedge funds. It also enables advisors to purchase structured investment opportunities. iCapital's solution automates subscription, administration, operational and reporting processes for the life of each investment fund. Advisors also gain access to a full suite of research, due diligence, educational materials and investment product training.
Rob Sechan, Managing Partner of NewEdge Capital Group and CEO and Co-Founder of NewEdge Wealth, said the partnership is instrumental in scaling the firm's alternatives business. Lawrence Calcano, Chairman and Chief Executive Officer of iCapital, said the partnership reflects the company's commitment to helping advisors achieve better client outcomes and opens greater access to institutional-quality alternative strategies.
NewEdge Capital Group, a Barron's Top 100 RIA Firm and a Forbes America's Top RIA Firm, has over $42 billion in client assets and supports more than 300 financial advisors serving several thousand households, family offices and institutions. Its parent, EdgeCo Holdings, LP, services over $170 billion in assets across NewEdge Capital Group and its other custody and retirement businesses. iCapital, founded in 2013 and headquartered in New York, reports over $166 billion in global client assets as of August 31, 2023, including about $28 billion from non-U.S. investors, across more than 1,300 funds, and employs more than 1,200 people globally.
The partnership includes a customized technology offering that provides NewEdge advisors with a curated menu of alternative strategies, including private equity, private credit, real estate and hedge funds. It also enables advisors to purchase structured investment opportunities. iCapital's solution automates subscription, administration, operational and reporting processes for the life of each investment fund. Advisors also gain access to a full suite of research, due diligence, educational materials and investment product training.
Rob Sechan, Managing Partner of NewEdge Capital Group and CEO and Co-Founder of NewEdge Wealth, said the partnership is instrumental in scaling the firm's alternatives business. Lawrence Calcano, Chairman and Chief Executive Officer of iCapital, said the partnership reflects the company's commitment to helping advisors achieve better client outcomes and opens greater access to institutional-quality alternative strategies.
NewEdge Capital Group, a Barron's Top 100 RIA Firm and a Forbes America's Top RIA Firm, has over $42 billion in client assets and supports more than 300 financial advisors serving several thousand households, family offices and institutions. Its parent, EdgeCo Holdings, LP, services over $170 billion in assets across NewEdge Capital Group and its other custody and retirement businesses. iCapital, founded in 2013 and headquartered in New York, reports over $166 billion in global client assets as of August 31, 2023, including about $28 billion from non-U.S. investors, across more than 1,300 funds, and employs more than 1,200 people globally.
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