Phoenix American, a transfer agent and fund administration provider for alternative investments, has partnered with WealthForge, a registered broker-dealer and developer of Altigo, a subscription automation platform for investing in alternatives.
The “integration partnership” will provide a digital purchase process for client funds and will enable financial advisors to access and subscribe to alternative investment products digitally using WealthForge’s Altigo platform. This will create an investment record in the Phoenix American transfer agent system, STAR-XMS, with no manual intervention or paper documents, the companies said. The STAR-XMS system reportedly centralizes back-office functions and data collection to support sales efforts.
“Digitizing and streamlining the investment process accomplishes three important goals: accelerating the purchase of alternative investment products, minimizing the entry and processing errors inherent in paper subscription documents, and enhancing the overall security of making an investment,” the companies said in a joint statement.
According to the companies, advisors will have “transparent and efficient” access to alternative investment products, while eliminating the factors that discourage wealth managers and investors from considering alternative investments.
“Our goal is to make alternative investments as easy to own as a mutual fund,” said Bill Robbins, chief executive officer at WealthForge. “Integrations with key participants in the investment process like Phoenix American are important steps toward creating a seamless experience and providing additional value to our users.”
Phoenix American provides fund administration, fund accounting, transfer agent and investor services as well as sales and marketing reporting to fund sponsors in the alternative investment industry.
WealthForge provides technology services to streamline investments into alternative securities. The company’s electronic investment processing platform, Altigo, was built to address common industry roadblocks, enable marketplace connections, and facilitate alternative investment transactions between wealth managers and sponsors.