iCapital, Opto strike new RIA partnerships

iCapital and Opto Investments are both extending their reach across the RIA space as both fintech platforms announce new partnerships to help firms enhance their alternatives offerings.

iCapital integrates with MAI Capital Management

iCapital has partnered with Cleveland-based MAI Capital Management to enhance its custom alternatives platform through a new technology integration. The move aims to streamline portfolio construction and administration for the firm’s clients and advisors.

Through the partnership, iCapital’s technology will be embedded within MAI’s existing platform, giving its investment team tools to manage and analyze clients’ private investments more efficiently.

One of the most active RIA acquirers last year with 10 deals sealed according to Echelon Partners' 2024 RIA M&A deal report, MAI reported $33.2 billion in total assets and $3.9 billion in assets under advisement as of March 31.

Under the new partnership, MAI will also transition oversight of certain existing funds to iCapital.

“Our focus is to build and manage bespoke portfolios built to preserve and create wealth across generations,” Kurt Nye, MAI’s chief investment officer and managing partner, said in a statement.

iCapital’s platform is designed to automate alternative investment operations, from data reconciliation and document management to fund administration and financing. The firm’s end-to-end technology is expected to reduce the operational burden for MAI’s advisors while supporting due diligence and portfolio creation.

iCapital has been on the move in the past few months, bolstering its platform's reach through new partnerships with Goldman Sachs, Schwab, and BlackRock.

“As private market allocations become an increasingly important component of diversified investment portfolios, we share a common goal with MAI to help advisors scale without losing sight of what matters – helping their clients achieve better financial outcomes,” said Steve Houston, managing director and co-head of iCapital Solutions.

Founded in 1973, MAI has grown its footprint to 32 offices across the United States, with a team of over 500 people.

Opto Investments backs Venturi’s family office expansion

In a separate announcement, Austin-based Venturi Private Wealth said it has joined forces with Opto Investments to scale its private markets program and strengthen its multi-family office offering for ultra-high-net-worth families.

Venturi, which oversees $3 billion in assets, will use Opto’s technology-led platform to identify private investment opportunities across credit, equity, and real estate. The platform is also being implemented to help reduce operational complexity in managing the firm’s custom funds and enable a simplified experience for qualified investors, including consolidated reporting and unified tax documentation.

“Our partnership with Opto is a key part of our technology transformation, streamlining access to private investments through a fully integrated platform,” Russ Norwood, co-founder and CEO of Venturi, said Tuesday. “Scale will no longer be a limiting factor for us to deliver private investments across our client base.”

Opto said the investments on its platform were chosen through a stringent selection process, with just 1.4 percent of opportunities approved for investment as of December 2024. The firm also provides due diligence support for advisors seeking institutional-grade alternatives.

“We’re proud to partner with the team at Venturi to provide a technology-led solution to institutionalize and scale their private markets program,” said Jake Miller, co-founder and chief solutions officer at Opto.