GeoWealth on Wednesday announced the launch of a Private Model Marketplace (PMM) on its turnkey asset management platform (TAMP), where RIAs can integrate private market funds into their client portfolios.
The PMM uses GeoWealth’s unified managed account (UMA) technology to enable advisors to build fully managed custom models or select pre-built models constructed by Apollo, BlackRock, Goldman Sachs Asset Management and J.P. Morgan Asset Management, according to GeoWealth.
Advisors can access professionally managed private fund models consisting entirely of semi-liquid alternatives, GeoWealth said.
Unlike the alternative “paper” models that have been available, the PMM will “facilitate rebalancing and cash management,” the firm said.
The marketplace provides managed models as standalones or in combination with public models in the same custodial account, according to GeoWealth. It is now accessible for advisors to implement custom model portfolios.
GeoWealth noted it teamed up with iCapital to integrate model workflows with iCapital’s multi-fund subscription process for funds requiring subscription documents.
“The ‘why’ behind private market access is no longer the conversation for advisors — it’s about the ‘how,’” Brendan Falls, Chief Growth Officer at GeoWealth, told WSR by email. “We launched the PMM to give advisors access to a fully managed, turnkey solution to scale private market allocations across their client base.”
“While private investments have been available to advisors for years, the industry has yet to introduce a scalable technology framework that enables advisors to seamlessly blend public and private investments in client portfolios,” according to Colin Falls, CEO of GeoWealth.
“We built the Private Model Marketplace to provide advisors with a turnkey, fully managed solution that delivers private market exposure without the operational burden,” he said in a news release announcing the PMM launch.
He added, “We believe the industry is in its early days of private markets adoption, and our purpose-built technology will help RIAs meet client demand in these asset classes.”
GeoWealth’s technology “streamlines the management of private investments by accounting for subscription timelines, liquidity restrictions and cash requirements,” according to the firm. Its service team will be available to assist in rebalancing, trading, reporting, billing and portfolio accounting.
Through GeoWealth’s UMA sub-accounting framework, advisors can combine multiple asset classes within one managed account, the company said.
“GeoWealth has been in market with custom public-private models in recent months, and the launch of the Private Model Marketplace takes that work a step further with the introduction of professionally-managed private market models,” according to Jen Wing, Senior Vice President, Chief Investment Officer and Head of Investment Solutions at GeoWealth.
“In today’s market environment, clients are increasingly seeking new sources of diversification and growth within their portfolios,” she said in the release.
Although many advisors “recognize the opportunity in private markets, many are uncertain how to implement these strategies effectively, or simply lack the time to do so,” she pointed out. “By delivering institutional-caliber models with leading asset managers, the marketplace gives advisors a scalable way to integrate private markets into client portfolios.”
In October 2024, GeoWealth, BlackRock and iCapital announced a collaboration in which iCapital’s technology would be used to provide a custom platform for RIAs, enabling firms using the GeoWealth TAMP to more easily include private assets within UMAs.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
