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Phoenix American and WealthForge partner to deliver straight-through processing for alternative investments

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Phoenix American, a transfer agent and fund administration provider for alternative investments and WealthForge, a registered broker-dealer and developer of a subscription automation platform built to streamline investing in alternatives, have partnered to provide a seamless, fully digital purchase process for client funds.

 

The partnership will enable financial advisors to access and subscribe to alternative investment products digitally using WealthForge’s Altigo platform resulting in a complete and active investment record in the Phoenix American transfer agent system, STAR-XMS, with no manual intervention.   

The partnership for straight-through processing is a key step in advancing the investor and advisor experience of the alternative investment industry. Digitising and streamlining the investment process accomplishes three important goals: accelerating the purchase of alternative investment products, minimizing the entry and processing errors inherent in paper subscription documents, and enhancing the overall security of making an investment. 

STAR-XMS’s integration with the Altigo platform, achieving end-to-end data connectivity with no paper documents, will represent a competitive advantage for client fund sponsors. Advisors will enjoy simple, transparent and efficient access to alternative investment products. Fully automated straight-through processing will help to scale the alternatives industry by eliminating the factors that discourage wealth managers and investors from considering alternative investments. 

“Our goal is to make alternative investments as easy to own as a mutual fund,” says Bill Robbins, CEO at WealthForge. “Integrations with key participants in the investment process like Phoenix American are important steps toward creating a seamless experience and providing additional value to our users.” 

Phoenix American, an innovator in the alternatives industry, welcomes the added efficiency of the WealthForge integration. The company’s STAR-XMS transfer agent and administration system centralises and streamlines back-office functions and data collection to support sales efforts. The integration of STAR-XMS with the Altigo platform, eliminating the need for manual entry of subscription information, further enhances the Phoenix American back-office process. 

“Phoenix American supports technological advancements that reduce costs for sponsors, increase efficiency and improve investor and rep adoption of alternative investments,” says Andrew Constantin, Senior Vice President, Operations for Phoenix American. “WealthForge is a great partner for us in reducing operational frictions for alternative investments. The Altigo platform is a technological advancement that simplifies investing and pushes the industry forward.” 

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