NEW YORK — iCapital Network1, the global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, announced today it has been honored as Solutions Provider of the Year in the 2020 MMI/Barron’s Industry Awards.
iCapital won top honors for the firm’s technology solution offering advisors and their high-net- worth clients easier access to institutional-quality alternative investments. Recognizing achievements in 12 categories overall, the winners of each were announced October 22 during the MMI/Barron’s Industry Awards Event as part of the 2020 MMI Annual Conference: Virtual Event Series.
The Solutions Provider of the Year category honors solutions providers that exemplify innovation in delivering better outcomes for financial advisors and investors. The nomination review Committee selected finalists providing “needle-moving advisory-related technology and services that contribute to innovation within the investment advisory solutions industry and improve the investor and financial advisor experience.” The winners in each category were determined by a vote of MMI member firms.
“It’s an honor to be recognized for the transformative work iCapital is doing with our partners and clients to help the industry meet the growing demand for alternative investments with technology that brings efficiency and ease to the investment process,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. “We are committed to providing innovative technology solutions that help drive our clients’ success and deliver better outcomes for the industry.”
iCapital’s flagship platform supports the full alternative investing lifecycle for the entire investing ecosystem for advisors by providing a fully digitized platform that supports the sourcing and selection of funds and automates the subscription, administration, operational and reporting processes of alternative investing. The firm has evolved from addressing the friction in the alternative investing process for two end points — the buyer and the seller — to providing seamless connectivity across the industry with leading wealth management firms and banks, fund managers, transfer agents, administrators and custodians.
A historical hurdle for advisors interested in incorporating private funds into investors’ portfolios has been their relative illiquidity. In April 2020, iCapital launched an integrated secondary marketplace for iCapital sponsored funds created in partnership with Nasdaq Private Market. The platform offers liquidity solutions to advisors and their high-net-worth clients who have private equity investments in their portfolios.
iCapital has also emphasized the importance of advisor education and the provision of research on private assets, which has historically been primarily available to institutional investors, by creating diligence materials, whitepapers, webinars, videos and blog posts discussing the characteristics of alternative investment strategies and the mechanics of private investments. This helps advisors to take a thoughtful, educated approach to alternative investing strategies.
In addition to the iCapital flagship platform, and as part of its modular technology, iCapital provides its solutions as a customizable white label offering, giving banks, wirehouses, brokerages, and independent firms a simple way to update legacy processes and infrastructure with a state-of-the-art platform explicitly designed to address the long-standing challenges faced by the alternative investment industry.
More than 70 white label platform partners, including some of the largest and most respected financial institutions, use iCapital’s technology. In the last 12 months, iCapital has announced strategic partnerships with Janney Montgomery Scott, Pershing, PGIM Investments, PIMCO, Schwab Advisor Services, and State Street.
About Money Management Institute (MMI)
Established in 1997, the Money Management Institute (MMI) is the industry association representing financial services firms that provide financial advice and investment advisory solutions to investors. Through conferences, educational resources, and thought leadership, MMI facilitates peer-to-peer connections, fosters industry knowledge and professionalism, and supports the development of the next generation of industry leadership. MMI member firms are dedicated to helping individual and institutional investors, at every level of assets, plan for and fulfill their financial goals. For more information, visit www.MMInst.org.
Barron’s (www.barrons.com) is America’s premier financial magazine, known for its market-moving stories. Published by Dow Jones since 1921, it reaches an influential audience of professional fund managers, financial advisors, affluent individual investors, financial-services professionals and senior corporate executives. With new content available every business day in digital form and every week in print, Barron’s provides readers with an intelligible recap of recent market action coupled with insights on what’s likely to happen in the market in the days and weeks to come. In addition, its annual series of exclusive conferences for financial advisors and investors is dedicated to identifying, enhancing and expanding best practices in investing. As a result of these initiatives, Barron’s is the trusted financial-publishing brand that people active in the market turn to for information, ideas and insights they can use to increase their professional success and enhance their personal, financial well-being.
About iCapital Network
iCapital Network’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. Wealth management firms use iCapital’s turnkey technology solutions to provide clients with quality funds, simplified operational process and an improved investor experience. Asset managers and banks leverage iCapital Network’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 October 1, 2020, iCapital Network has 301 employees and services approximately $65bn in global client assets for more than 125,000 underlying accounts.
For additional information, please visit iCapital Network’s website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork
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(1) Institutional Capital Network, Inc. and its affiliates (together, “iCapital Network” or “iCapital”)
This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. 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. The information contained herein is subject to change and is also incomplete. 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.
Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. All rights reserved.