Earlier this month, UBS announced that it has invested an undisclosed amount in online alternatives platform iCapital. ICapital aims to democratize access to alternative investments for advisors serving high-net-worth investors.
UBS will also adopt iCapital’s technology in its private fund operations.
“We are excited to re-engineer our alternatives infrastructure and equip our financial advisors with the efficiencies, intelligence and controls of tech-enabled workflows,” Jerry Pascucci, managing director at UBS and head of alternative investments for Wealth Management Americas, said in a statement. “iCapital’s proprietary technology and end-to-end service offering provide a seamless operational solution, making these strategies and exposures more accessible and helping advisors deliver better service to their ultra-high-net-worth clients.”
BlackRock also announced an investment in iCapital in December 2016. Frank Porcelli, chairman of BlackRock’s US Wealth Advisory business and the head of its Digital Wealth Solutions group, joined the firm’s advisory board.
Users with Dash to burn can now spend it in the Apple app store. Dash Core, the firm that created the cryptocurrency Dash, announced on Wednesday that it has been accepted as an approved cryptocurrency in the app store.
This means that app developers can integrate Dash as a form of payment in wallets and apps they create.
“As Dash continues to expand our user base and ecosystem of services, it is critical for our users to have access to their Dash funds on a variety of platforms, especially mobile devices. Dash’s instant payments make Dash ideal for point-of-sale situations, which means mobile phone support for all of our users is a must,” Dash Core CEO Ryan Taylor said in a statement.
As of July 19, Dash was valued at $166.21, with a market cap of $1.2 billion (or 528,487 BTC), according to CoinMarketCap.
Tax optimization software provider LifeYield announced in mid-July that it has added Riley Etheridge, former head of client segments and advisor development for Merrill Lynch Wealth Management, to its advisory board.
“As a staunch proponent of goals-based wealth management throughout my 33-year career, I have come to the conclusion that success cannot be achieved independent of advanced technology tools and platforms,” Etheridge said in a statement.
Mark Hoffman, LifeYield’s chief executive officer, noted, “By joining our advisory board, Riley validates our goal of supporting financial advisors as they navigate a changing landscape – where they find themselves competing with robo-investing platforms – and look to leverage technology as a means of identifying insights that shape their clients’ financial futures, and remain competitive.”
— Read Merrill Edge Redesigns Mobile App: Portfolio Products on ThinkAdvisor.