WealthForge, a provider of technology solutions for alternative investments, has released a new processing platform for advisors named Altigo, which it claims reduces errors and cost for sponsors, and expedites transactions for all parties involved.
WealthForge is offering Altigo to sponsors, who in turn make the platform available to their distribution partners. The firm said that the platform was a response to the “lengthy, error-prone, paper-based process” associated with the majority of alternative investment transactions, which it claims may have a limiting effect in their use in investor portfolios.
“The poor experience related to investing in alternative assets is a limiting factor in the ability for these products to gain traction among advisors and their high net worth clients. If straight through processing provides a stable foundation for alternative investments, as it has for other asset classes, then we can expect it to expand the pie for everyone involved,” says Bill Robbins, CEO of WealthForge.
WealthForge has signed Cantor Fitzgerald as the first major sponsor on the platform, which will host a variety of the sponsor’s alternative investment products, including 1031 exchange DSTs, a qualified opportunity fund, and NAV non-traded REITs. Additional advisor-focused functionality is slated to debut later this year.
“Cantor Fitzgerald is excited to be the first sponsor utilizing the Altigo platform. Consistent with our leadership position in the industry, improving the investor, advisor and back office experience is a key focus as we continue to scale our unique solution set of real estate and cash management programs” added Jay Frank, head of distribution at Cantor Fitzgerald Capital.
In 2018, WealthForge claims that it processed more than $500 million in alternative investment transactions and surpassed $1 billion in lifetime transactions.