Kingswood US Unveils Covered Security Submission Portal On Its Alts Platform for Advisors As Subscription Growth Represents Investments Of $129 Million In Three Years
Kingswood U.S., a network of wealth management firms, announced that its automated alternative investment platform for financial advisors surpassed 1,200 subscriptions representing $129 million in investments in three years, and that it is launching a new Covered Security Submission Portal on the alts platform.
Its automated user-driven subscription system reduces manual work and enables completing investments in days instead of weeks, according to the press release. Kingswood U.S. aims to provide a uniform and streamlined way for advisors to access alts for clients, and for operations and compliance teams to review subscriptions.
The platform already provides access to energy, real estate, private placements and other alternative investments. Its Covered Security Submission Portal will add covered securities, institutional preferred shares and interval funds, according to the press release.
Kingswood U.S. plans to launch the new portal during its Nov. 6 to Nov. 9 advisor conference in Sarasota, Florida, where SkyBridge Capital Founder and Managing Partner Anthony Scaramucci is scheduled to give the keynote address.
Search For Yield
“The search for increased yield and meaningful diversification in recent years exposed the critical need for alternative investment vehicles,” Kingswood U.S. CEO, President and Managing Partner Michael Nessim said in the press release. “However, the complexity of the regulatory requirements, subscriptions and due diligence responsibilities have hampered the adoption of alts by wealth management professionals. Our platform is built upon transparent, straight-through processing that delivers upon the desires of clients without burdening advisors.”
As recently reported, the bear market has made alternative investments shine, and the prospect of an eventual stock market rally may do little if anything to hamper the appeal of alts, due to the variety of investment options available to financial advisors’ clients.
Indeed, the level of assets invested in private capital is expected to almost double globally by 2027, reaching $18.3 trillion, largely based on their appeal for retail investors in North America, according to the market research company Preqin.
Kingswood U.S. has two independent broker-dealers and an RIA that collectively oversee more than $3 billion in client assets. The company provides independent advisors with business-building services such as access to investment solutions, multi-custodial and multi-clearing flexibility, technology stacks, transition services, M&A and practice management.
In January, Kingswood U.S. announced a strategic alliance with the placement agency Briarcliffe Credit Partners, serving it as an office of supervisory jurisdiction in New York City, and Briarcliffe delivering access for Kingswood U.S.-affiliated financial advisors.
That same month, Kingswood U.S. announced the recruitment of seven advisors collectively overseeing $295 million in client assets. In July, the company announced the recruitment of eight advisors collectively overseeing nearly $355 million in client assets.
Chris Latham, Deputy Managing Editor at Wealth Solutions Report, can be reached at firstname.lastname@example.org