CHICAGO and NEW YORK,
July 13, 2021 /PRNewswire/
-- UBS (NYSE: UBS), Envestnet (NYSE: ENV), and iCapital
Network1 ("iCapital") today announced a
strategic relationship to deliver access to curated UBS and
iCapital alternative investment products through Envestnet's
platform. To power the initiative, Envestnet will launch the
Alternatives Exchange, a new solution designed to provide these
products to the firm's clients, leveraging iCapital's turnkey
technology through single-sign-on access.
"UBS has a long history of partnering with leading technology
companies, like Envestnet and iCapital, to help broaden the firm's
distribution network of its products and services," said
Tom Naratil, President Americas
at UBS. "This strategic relationship will enable us to scale
our product offering for investors and strengthen our position in
the alternative investments sector."
To seamlessly support this effort, Envestnet | PMC, Envestnet's
portfolio consulting group, will provide oversight of the
Alternatives Exchange. Envestnet's new Private Wealth Consulting
service anticipates leveraging this offering for advisors of
high-net-worth clients, providing access to private investments and
hedge fund strategies through UBS and iCapital.
"Through our partnership with UBS and iCapital, we continue to
make significant strides in building out our financial wellness
ecosystem," said Bill Crager,
Co-Founder and CEO of Envestnet. "UBS's global reach,
iCapital's demonstrated technology, and both firms' extensive
history with alternatives will be key for helping us equip advisors
with the tools to help diversify client portfolios."
UBS has created a dedicated group to service this initiative,
which will provide access to investment solutions and custody
services. Advisors on Envestnet's platform will continue to be the
primary contact for their clients.
"We are proud to partner with UBS and Envestnet, to provide
advisors with access to a broad array of quality alternative
investment strategies via the Alternatives Exchange," said
Lawrence Calcano, Chairman
and CEO of iCapital Network. "We are committed to
continuing the transformative work iCapital is doing with our
partners to help the industry meet the growing demand for
alternative investments, and to provide innovative solutions that
have the potential to deliver better outcomes for advisors and
their clients."
Through this collaboration, Envestnet's platform will provide
access to iCapital's enhanced technology and processing
capabilities. iCapital's technology includes its digital
subscription process for alternative investments, with Anti-Money
Laundering and Know Your Client features to assist advisors through
essential compliance processes. Investment-related documents and
reports will be available in real-time through iCapital's intuitive
document center, digitizing a historically paper-intensive,
cumbersome experience and strengthening advisor efficiency.
"As advisors seek to navigate challenges presented by a
low-yield environment and better diversify traditional equity and
fixed-income portfolios, we believe alternative solutions can be
another option used to enhance client investment outcomes," said
Dana D'Auria, Co-Chief Investment Officer of Envestnet.
"Through this collaboration, the new Alternatives Exchange will not
only provide access to hedge funds, private equity, private credit,
venture capital, and real estate, but will also provide the
research, due diligence, and digital technologies to help invest in
these strategies more efficiently—all on one platform."
Access to the Alternatives Exchange will be made available in Q3
directly through a single sign-on integration from the Envestnet
Platform.
Notes to Editors
About UBS
UBS provides financial advice and solutions
to wealthy, institutional and corporate clients worldwide, as well
as private clients in Switzerland.
UBS is the largest truly global wealth manager, and a leading
personal and corporate bank in Switzerland, with a large-scale and
diversified global asset manager and a focused investment bank. The
bank focuses on businesses that have a strong competitive position
in their targeted markets, are capital efficient, and have an
attractive long-term structural growth or profitability
outlook.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is
transforming the way financial advice and wellness are delivered.
Our mission is to empower advisors and financial service providers
with innovative technology, solutions, and intelligence to make
financial wellness a reality for everyone. Over 106,000 advisors
across more than 5,200 companies—including 17 of the 20 largest
U.S. banks, 47 of the 50 largest wealth management and brokerage
firms, over 500 of the largest RIAs, and hundreds of FinTech
companies—leverage the Envestnet platform to grow their businesses
and client relationships.
For more information on Envestnet, please visit
www.envestnet.com, subscribe to our blog, and follow us on Twitter
(@ENVintel) and LinkedIn.
UBS, iCapital and Envestnet are separate and unaffiliated firms.
This release should not be construed as a recommendation or
endorsement of any particular product, investment strategy, or
service.
About iCapital Network
Founded in 2013 in NYC,
iCapital Network is the leading global financial technology
company powering the world's alternative investment
marketplace. It has transformed the way the wealth management,
banking, and asset management industries facilitate access to
private markets investments for their high-net-worth clients by
providing intuitive, end-to-end technology and service
solutions. Wealth management firms use iCapital's solutions to
provide clients with quality funds at lower minimums and
simplified digital workflows. Asset managers and banks
leverage iCapital's technology to streamline and scale their
private investments operational infrastructure. Additionally, the
iCapital 'flagship' platform offers financial advisors and their
high-net-worth clients access to a curated menu of private equity,
private credit, hedge funds, and other alternative investments to
help meet their investing needs for return and diversification.
iCapital's research and diligence team offers robust analysis
alongside the firm's extensive suite of advisor education,
compliance, portfolio management, and portfolio analytics tools and
services. iCapital was recognized on the Forbes FinTech 50
list in 2018, 2019, 2020 and 2021, the Forbes America's Best
Startup Employers in 2021, and MMI/Barron's Industry Awards as
Solutions Provider of the Year in 2020. As of June 30, 2021, iCapital Network has approximately
450 employees and services $80 billion in global
client assets across more than 750 funds. Headquartered in
NYC, it also has offices in Zurich, London, Lisbon, and Hong
Kong.
For additional information, please visit iCapital Network's
website at www.icapitalnetwork.com | LinkedIn:
https://www.linkedin.com/company/icapital-network-inc |
Twitter: @icapitalnetwork
See iCapital Network disclosures here.
Media Contacts:
UBS
Erica Chase
212-713-1302
erica.chase@ubs.com
Envestnet
Dana
Taormina, JConnelly
973-647- 4626
envestnetpr@jconnelly.com
iCapital Network
Emma
Murphy / Morgan Miller
+ 1 347-968-6800 / + 1 919-602-2806
icapital@neibartgroup.com
Product-related questions:
UBS
www.ubs.com/independentadvisorsolutions
1-833-827-1010
J.P. Connellan
joseph.connellan@ubs.com
Melanie Warner
melanie.warner@ubs.com
1 Institutional Capital Network,
Inc., and its affiliates (together, "iCapital Network" or
"iCapital")
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SOURCE UBS; Envestnet, Inc.; iCapital Network