Wealth Enhancement Group has teamed up with CAIS to provide a customized alternatives platform solution to the firm’s rapidly growing network of advisors.
Claiming more than $57.7 billion in total client assets across more than 360 advisors, Minneapolis-based WEG is among the largest RIA aggregators in the nation. The new partnership integrates a customized version of the CAIS alternative investments platform into WEG’s existing network of advisors, providing access to an evolving menu of alternative investment funds and products, as well as educational resources, end-to-end digitized transaction processing and third-party reporting integrations.
Founded in 2009, CAIS works with more than 6,600 advisory teams overseeing more than $2.5 trillion in total client assets. All funds listed by CAIS are subject to due diligence and ongoing monitoring by Mercer Capital, and reports and fund ratings are available to all advisors on the CAIS platform.
“We’re thrilled to partner with a firm that is committed to meeting the unique needs of the independent wealth management community,” said WEG CEO Jeff Dekko, who will be speaking next week at the inaugural CAIS Alternative Investment Summit at The Beverly Hilton in Los Angeles, Calif. “CAIS will deliver a centralized platform solution that offers digitized investment selection, transaction processing and integrated reporting, creating a seamless alternative investing experience for our advisors and their clients.”
Under the new partnership, WEG advisors will receive access to a tailored menu of diversified investment products across asset classes such as private equity, private real estate, private credit, venture capital, hedge funds and structured solutions. CAIS will also assist WEG in adding their own sourced third-party funds to the platform for centralized monitoring, transacting and reporting, as well as the launch of proprietary feeder funds and multi-manager funds.
“With the addition of Wealth Enhancement Group, CAIS remains dedicated to empowering the nation’s leading RIA aggregators including Mariner Wealth Advisors, Focus Financial Partners and Advisor Group,” said CAIS CEO Matt Brown. “As multiple factors fuel uncertainty throughout public markets, the need to equip independent advisors with access to quality alternative investments has never been greater.”
Nearly 70% of financial professionals cite a lack of educational resources as a barrier to private markets investing, according to CAIS research. WEG also expects to benefit from the CAIS IQ proprietary alternative investment education platform. CAIS IQ also allows home office professionals to monitor financial advisors’ learning progress across a variety of courses, some of which are available for CE credits.
Founded in 1997, WEG now serves more than 45,500 households is expanding rapidly through organic growth and acquisitions. While advice is offered through its RIA, Wealth Enhancement Advisory Services, some of the firm’s investment advisor representatives are also registered representatives of and offer securities through LPL Financial. Approximately $4 billion of WEG’s client assets are held in brokerage assets.