RBC Wealth Management U.S., a full-service wealth management firm, has launched a new digital alternative investment platform for high-net worth clients.
Developed in partnership with Artivest, an alternative investment management and technology services provider, RBC’s cloud-based investment platform allows financial advisors and their clients access to various private equity and hedge funds. The platform also provides a streamlined, online subscription process and accessibility to fund information and analytics.
“In today’s volatile, yet innovative, global markets, alternative investments play an important role in building successful and diversified portfolios for high-net-worth investors,” said Bryan Mullin, head of alternative investments at RBC Wealth Management U.S. “Through this new platform, our financial advisors have access to an even wider array of solutions to help meet the investment objectives and goals of their qualified clients.”
RBC said that alternative investments have historically been difficult for financial advisors to offer to qualified clients for three primary reasons: high investment minimums; a tedious, paper-intensive subscription process; and non-transparent, inaccessible fund data.
Since launching the alternative investments platform, RBC noted that it has processed four times the number of investments compared to before the platform’s launch, with no increases in their operations staff or expenses.
RBC Wealth Management has $336 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 40 states.