Advisors at Philadelphia-based Janney Montgomery Scott will gain access to more alternative investments through a partnership with iCapital Network, according to a company release.
The partnership will provide Janney’s financial advisors with access to a white-label version of iCapital’s alternative investing platform and a curated menu of private equity and hedge funds, allowing financial advisors to incorporate alternative investments into client portfolios, the release said.
“We are thrilled to partner with such a significant presence in the broker-dealer marketplace and we look forward to helping Janney financial advisors augment the strength of their client portfolios with alternative investment opportunities,” Lawrence Calcano, CEO of iCapital Network, said in a statement. “We are committed to providing the industry with the technological expertise and product insights necessary to support advisors in deepening their client relationships.”
Kevin Reed, head of wealth management at Janney Montgomery Scott, said the broadening of Janney’s alternatives platform will strengthen its advisors’ ability to deliver a more comprehensive set of solutions to clients.
The deal is the latest expansion for iCapital in wealth management. Last month, iCapital and Schwab Advisor Services announced an expanded relationship that gave Schwab’s independent advisor clients access to third-party platform sponsors that offer menus of private funds.
New York-based iCapital, founded in 2013, services more than $42 billion in invested capital across the wealth and asset management industries.