Fintech aims to shake up how alternative asset firms connect with wealth managers

Disrupting the way that alternative asset fund managers connect with wealth managers is the target for a new feature from a global fintech.

Bite Investments has added the capability to its Bite Stream platform, enabling asset managers to link directly with the global wealth management channel without the need for intermediaries.

The platform is already used by fund managers for fundraising, investor management, investor relations, and reporting and they will now have enhanced access to wealth managers amid the growing — but largely untapped — retail investor demand for alts.

Bite says that the wealth management channel will play a key role in driving growth for asset managers and the new feature also allows wealth managers to become distribution partners for asset managers.

For wealth managers and advisors, the platform will offer direct access to alternative managers’ private market funds, expanding diversification and personalization opportunities, meeting client demand for alternative investments.

Bite Investments’ CEO, William Rudebeck, says the firm’s new solution helps address the oversized advantage that larger wealth managers have in accessing alternative assets at low cost.

"Currently, the only efficient ways for alternative asset managers to access the wealth management industry is either through developing their own wealth management distribution solution or by using intermediary platforms, which tend to be expensive and only cater to a very few select managers that fit within a certain level of criteria, set by that specific intermediary platform,” he said. “Likewise, there has recently been a lot of consolidation within the wealth management market and now many wealth managers can invest into alternative assets themselves independently.”