iCapital, an alternative investment platform for the wealth management industry, announced that they will acquire Mirador, a data aggregation and reporting platform with extensive alternative investment capabilities. The firms believe that the combined offering will enhance iCapital's ability to bring alternative assets down into the high-net-worth segment at something approaching scale.
This fits in with our "Family Office As-a-Service" theme. We believe that the industry can use technology to scale some of the services found primarily at large family offices and private banks and bring those services down market into the high-net-worth market. The key is to allow advisors to provide these services without having to expend additional effort or acquire extensive expertise. Alternative Investments is one of those services.