BNY and iCapital form alliance
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Building on the alternative investment experience for BNY Pershing clients who access iCapital through Wove, this alliance will create streamlined access to investment products and further support growth across alternative asset managers and the wealth channel.
Shared clients will have access to funds managed and operated by iCapital delivered by both Alts Bridge and iCapital upon integration. Clients will also have access to iCapital's suite of investment tools and capabilities from Wove. This integration will enable wealth advisors to manage their accounts in Wove holistically across alternative and traditional holdings.
'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,' said Ainslie Simmonds, Executive Platform Owner, Wealth Service Platform for BNY. '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.'
'We're excited to collaborate with BNY to deliver technology that empowers financial advisors to scale their access to alternative investments,' said Steve Houston, Managing Director and Co-Head of iCapital Solutions at iCapital. '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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