Bite Investments, the award winning global financial technology firm, announces the launch of a wealth management feature on its Bite Stream platform. This new feature, available to asset managers globally, will enhance access and operational efficiency for alternative investments, facilitating connections between fund managers and the global wealth management community.
Bite Stream enables alternative asset managers to engage with wealth managers directly, using the same platform they use for fundraising, investor management, investor relations, and reporting, thereby eliminating the need for additional, and often costly, intermediary fund platforms to reach this audience. Furthermore, this direct connectivity allows the wealth manager to become a distribution partner of the alternative asset manager.
Alternative asset managers are increasingly looking to the wealth management market due to its substantial size and current under-allocation to alternatives. The retail segment already accounts for half of all global wealth and with wealth managers tapping into lower wealth bands, the wealth management channel will play a key role in driving growth for asset managers.
However, legacy institutional distribution strategies need to evolve, and asset managers need to embrace a more integrated, digital-led interaction model to target the wealth channel. Bite Stream streamlines the process of dealing with the large volume of smaller ticket sizes typical in this segment compared to institutional investors. Regardless of their size or specialization, asset managers can use the platform to raise funds across various investor types. Now, with the addition of wealth manager distributors, they can expand their reach even further.