Technology provider InvestCloud has launched the Private Markets Account, a service described by the firm as an “innovative managed accounts offering that enables easy and convenient management of alternative investments alongside traditional investments for wealth management firms.”
Craig Iskowitz, a financial services and technology consultant, called the development a “game-changing move in WealthTech,” on LinkedIn.
“As a technology consultant, I've seen many attempts to solve the challenge of putting alternative investments in a managed account,” wrote Iskowitz, who was involved in the development of InvestCloud. “No one has been able to deliver on this even as pressure has mounted from the uptick in allocations to alts by advisors."
Iskowitz, the CEO and founder of Ezra Group, added that the PMA solution represents a “significant breakthrough in how we handle private market investments within the traditional managed account structure.”
Key features of the platform allow for centralized management and integration of alternative investments into portfolios, according to the announcement, while enhancing portfolio diversification and operational efficiency.
The platform lets advisors proactively manage such private markets securities as private credit, private equity, real estate, operating companies, interval funds, non-traded REITs and business development companies.
