BNY has partnered with iCapital to enhance the alternative investment experience for wealth advisors.
The alliance will see BNY Pershing’s Wove and BNY’s Alts Bridge platforms integrated with iCapital, a FinTech platform focused on transforming the investment landscape. This collaboration is designed to expand access to alternative investment products and drive growth across wealth channels and alternative asset managers.
As part of the integration, clients of BNY Pershing using Wove to access iCapital will benefit from streamlined investment processes. Shared clients will have access to funds managed by iCapital, distributed through both Alts Bridge and iCapital’s own platform, enabling wealth advisors to oversee client portfolios holistically across alternative and traditional investments within Wove.
BNY executive platform owner, wealth service platform, Ainslie Simmonds said, “Through this alliance, we are helping to unlock access for advisors to alternatives and private markets by delivering a streamlined experience and more comprehensive set of investment options.
“iCapital with Alts Bridge and Wove will create a user experience that will be unique in the market and continue to help advisors provide the investment solutions their clients are looking for.”
iCapital managing director and co-head of iCapital Solutions, Steve Houston said, “We’re excited to collaborate with BNY to deliver technology that empowers financial advisors to scale their access to alternative investments.
“By accessing this integrated solution, clients will have a more automated experience that is more transparent, efficient and easier to manage, and allow advisors to focus on what matters most — helping clients achieve their financial goals with confidence.”
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