Electronic Subscription Documents

SIMON Partners with +SUBSCRIBE to Power Alternative Investment Fund Marketplace for Wealth Managers

By Rafay Farooqui, November 03, 2021

SIMON expands its industry leading, advisor-facing technology platform to launch the wealth industry’s first digital end-to-end alternative fund marketplace, providing access to a full suite of investment opportunities from leading asset managers

Powered by +SUBSCRIBE’s state-of-the-art electronic subscription document technology, the marketplace will enable financial advisors to centralize their activity across direct fund and feeder fund investments 

SIMON Markets LLC (SIMON), a fintech company transforming the wealth management landscape through its leading digital platform for financial professionals, today announced a partnership with +SUBSCRIBE®, the leading order management system and electronic subscription document technology for alternative product transactions, to launch the wealth industry’s first marketplace that allows financial professionals to manage all their alternative investments on a single end-to-end platform.

SIMON’s fund marketplace will:

  • Deliver product analytics, education, and investment lifecycle management for private and registered funds from a range of leading asset managers
  • Provide seamless order management through +SUBSCRIBE’s innovative fund subscription technology
  • Be available to the more than 100,000 financial professionals at over 50 wealth management firms that have access to the SIMON platform

As an industry first, the combined offering delivers a powerful solution for large wealth managers that currently struggle with a manual, error-prone, and paper-based fund subscription process hindering proper allocation levels and efficient trade management of alternatives within client portfolios.

“SIMON’s partnership with +SUBSCRIBE provides our wealth managers with an industry-leading alternative asset platform to bring simplicity and ease-of-use to this asset class,” said Jason Broder, CEO of SIMON. “In a short period of time, +SUBSCRIBE has both built and defined the electronic subscription document technology space for institutional fund managers and investors. Together, we’re empowering advisors to expand beyond the traditional 60/40 portfolios with more forward-thinking allocation models and providing them with frictionless transaction capabilities for alternative investments.”

SIMON’s wealth management platform currently serves a growing base of financial professionals across the largest private banks, broker dealers, and RIAs with access to emerging alternative solutions, such as structured investments, annuities, buffered ETFs, and digital assets. The fund marketplace will expand the investment options available to wealth advisors to include leading private equity, private credit, real estate, venture capital, hedge funds, and registered alternative funds.

“SIMON’s creation of an alternative asset management platform and fund marketplace, powered by our enterprise ready order management system, will transform the way financial professionals perceive alternative investments as a portfolio component,” said Rafay Farooqui, founder and CEO of +SUBSCRIBE. “SIMON is the sole wealth management technology platform positioned to deliver the elusive complete alternatives lifecycle and sales enablement solution for wealth managers. Powering the launch of their fund marketplace is a key milestone in our mission to lead the digitization of the alternatives industry.”

+SUBSCRIBE’s electronic subscription document technology is used globally by more than 5,000 institutional investors, 1,200 private funds, and 300 service providers such as fund formation law firms, fund administrators, and asset custodians. Establishing seamless system-to-system integration to enable digital transactions provides centralization and operational ease-of-use for the various functional groups and investment professionals who form the alternative investment programs within each wealth management firm.

Broder and Farooqui are both Goldman Sachs alumni. SIMON spun out of Goldman Sachs in 2018, with the backing of seven leading financial institutions: Barclays, Credit Suisse, Goldman Sachs, HSBC, JPMorgan, Prudential, and Wells Fargo. In July 2021, SIMON announced a $100 million Series B strategic growth financing round led by WestCap.

Read the full press release here.