The company anticipates that asset managers will soon make up 50 percent of its total revenue.
[Originally published to RIA Intel by Holly Deaton]
Fintech company AltExchange has launched a new platform designed to “modernize” reporting for alternative investments.
AltExchange is a wealth management software provider that aggregates and organizes information from more than 65 alternative investment platforms. According to the company, its new Digital Custodian Platform will provide asset managers with visibility into the company’s network of RIAs in addition to handling all post-investment workflows like document aggregation, performance calculations, capital calls, and distributions. (AltExchange describes the offering as a “custodian experience” — the firm does not actually custody assets.)
Kareem Hamady, AltExchange’s chief operating officer and co-founder, likened the new platform to CAIS or iCapital, but for smaller asset managers that might not meet those alternative investment platforms’ requirements or do not want to pay for those platforms.
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