Schwab Advisor Services to provide shareholder servicing for iCapital funds


Schwab Advisor Services is to provide shareholder servicing for funds serviced by iCapital Network.

iCapital will be the first platform provider on the Schwab’s new Alternative Investment Marketplace platform. The agreement will create end-to-end, automated alternative investing processes for advisors who use the Schwab platform.
 
iCapital’s technology allows advisors and their high-net-worth clients to access, review and invest in alternative investments such as private equity and hedge funds at lower minimums than traditionally required. Under the new management, advisors will be able to view iCapital’s alternative funds on the Schwab Alternative Investment Marketplace platform and manage iCapital investments within clients’ Schwab accounts. Advisors will also benefit from direct access to research and strategies on funds, a streamlined investing and reporting process and electronic access to documents associated with clients’ investments.
 
Jalina Kerr, senior vice president, Client Experience, Schwab Advisor Services, says: “We’re excited to launch the Schwab Alternative Investment Marketplace platform and to welcome iCapital Network as the first third-party platform sponsor.
 
“By working with firms that have experience and scale, we’re able to offer a more streamlined way for advisors to deliver alternative investment solutions to their clients.”
 
CEO of iCapital Network, Lawrence Calcano, adds: ““This is a substantial enhancement to our services. We look forward to working with Schwab to better serve independent advisory firms and bring increased ease and efficiency into the alternative investing process. iCapital advocates tirelessly for increasing access to alternatives in client portfolios, given their potential to provide diversification and returns and help close the retirement income gap. This relationship with Schwab furthers that mission by incorporating alternative investments into the holistic investment management process for advisors.”

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