RSM US LLP, an assurance, tax and consulting firm for middle-market companies, has partnered with alts management platform Arch to bolster its private market investment management capabilities.
Arch’s Alternatives Management Platform will integrate with FamilySight, RSM’s family office data management platform, to provide advisors with a view into clients’ private markets portfolios. Arch’s system automates some of the processes tracking private investments. Arch’s artificial intelligence summarizes financial data and commentary from alternative investment documents, statements and portals.
Arch allows clients and their RSM family office advisors to view alternative investments in a single digital platform. In addition, Arch will bolster the ongoing rollout of Catamaran, RSM’s outsourced solutions suite for middle-market organizations.
“Working directly with RSM inspires our team at Arch to continue building next-generation solutions that address the evolving needs of both private wealth advisors, family offices and institutions,” Arch co-founder and CEO Ryan Eisenman said in a statement.
To automate the process of tracking investments, Arch collects K-1s digitally across portals. Arch also provides a real-time tracker for tax documents and automatically follows up with asset managers for missing K-1s, functions particularly important for RSM’s accounting team.
“Arch’s infrastructure simplifies and standardizes private investment management, addressing key challenges for high-net-worth families and enabling our advisors to deliver a top-tier digital experience,” Matt Bradvica, partner and tax digital strategy leader at RSM, said in a statement. “Through our work with Arch, we’re equipping our team with a robust digital infrastructure that modernizes internal processes and creates new opportunities to deliver cutting-edge, personalized services to our clients in a fast-evolving digital world.”
Arch currently has more than $175 billion in private markets assets on its platform and a customer base of over 360 allocators, financial advisory firms and banks, 100 RIAs and multi-family offices and 150 single-family offices.
In late 2023, Arch raised $20 million in Series A funding, led by Menlo Ventures. Craft Ventures, Carta, Citi Ventures, GPS Investment Partners, Focus Financial and Quiet Capital also participated in the funding round.
Arch was launched in 2018 by co-founders Eisenman, Joel Stein and Jason Trigg.
The partnership adds to a busy stretch of news in the private markets space.
Last week, fintech SEI launched a new alternative investment marketplace aimed at wealth managers and financial advisors.
In addition, CAIS announced a new leadership structure naming Tim Shannon and Brad Walker as co-presidents of the company. That followed its announcement of a new capability to let advisors integrate and manage alternative investments within third-party turnkey asset management platforms and managed account platforms.
In other news, LPL Financial launched LPL Alts Connect, a full-service platform where advisors can research, purchase and manage alternative investments.
Meanwhile, InvestCloud, a tech provider for the advisory and wealth management market, announced alternative asset manager Apollo Global Management as a founding partner in InvestCloud’s Private Markets Account Network, an initiative combining public and private assets within a single platform.
Apex Fintech Solutions announced it was launching Apex Alts, a platform for managing alternative investments, with a planned start toward the tail end of the second quarter.
Lastly, Addepar, a technology platform provider to RIAs and wealth managers, announced the launch of several new toolsets and features, including Alts Data Management, Private Fund Benchmarks, and cash flow forecasts within Navigator.