iCapital® Network Hires Robert Worthington as Managing Director, Client Solutions

NEW YORK, NY – (NEWSWIRE) – iCapital Network, the financial technology platform democratizing alternative investments for high-net-worth individuals and their advisors, today announced the appointment of Robert (Bob) Worthington as Managing Director, Client Solutions. Mr. Worthington will lead the firm’s distribution activities within the independent wealth channel and bolster efforts to engage and educate advisors about iCapital’s solutions and alternative investments. He will report to iCapital Co-Founder and Managing Partner, Dan Vene.

Mr. Worthington has a deep background in alternatives and wealth management with an emphasis on the registered investment advisor (RIA) channel. He joins from Brookfield Asset Management where he was Senior Vice President charged with building out Brookfield’s relationships with RIAs and multi-family offices. Prior to Brookfield, he was President of Hatteras Funds—where he had broad corporate responsibilities including business and product development as well as building and managing sales and investment teams—and a Managing Director at J.P. Morgan Asset Management. Mr. Worthington earned a BA degree in Economics and Political Science from University of Wisconsin, Madison and an MBA degree from the University of Pittsburgh.

“Bob is one of the most experienced executives in our industry and has spent his career focused on delivering solutions to the challenges faced by RIAs,” said Mr. Vene. “We are delighted to welcome Bob to the iCapital team to further our efforts to provide the tech-enabled solutions aimed at closing the significant gap between target allocations and current exposure to alternative investments across the independent wealth channel.”

The independent wealth channel continues to grow at a quick pace. According to the 2018 RIA Benchmarking Study from Charles Schwab, the AUM of independent advisors grew over 16% at the median in 2017, up from 9.6% growth in 2016. Additionally, Cerulli expects the growth rate of high-net-worth assets that are advised by RIAs to continue on its current pace for the next several years.

“Technology is having a transformative impact across many industries, and iCapital is leading that charge in both the alternative investments and independent advisory arenas,” said Mr. Worthington. “I’m thrilled to join such a dynamic and exciting company, and I’m looking forward to continuing—and accelerating—our efforts to ensure advisors and their clients have access to the best possible alternative investment solutions.”

Since the official launch of its platform in October 2014, iCapital has attracted an investor network that includes more than 1,700 entities and approximately 900 RIAs. In addition to supporting independent advisors on its flagship platform, iCapital also offers customized, white labeled versions of its technology platform to help advisors, banks, brokerages and asset managers strengthen their alternative investments operational infrastructure.

“Independent wealth advisors have been an important part of our strategy since the beginning and Bob’s appointment reflects our commitment to being the most reliable and scalable partner for alternative investments as the industry grows and evolves,” said Lawrence Calcano, Chief Executive Officer of iCapital Network. “Our mission to democratize includes providing a state-of-the-art infrastructure that will improve access to alternatives and the allocation process for all advisors and their qualified clients.”

About iCapital Network

iCapital Network is the financial technology platform democratizing alternative investments with complete tech-based solutions for investors, advisors and asset managers. The firm’s flagship platform offers high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 Forbes FinTech 50 and as of June 30, 2018, serviced more than $6 billion in invested capital across more than 14,000 underlying accounts.

For additional information, please visit the Company’s website at www.icapitalnetwork.com