iCapital has entered into a definitive agreement to acquire SIMON Markets, a technology platform that helps financial advisers build portfolios.
SIMON had annuity products with more than $48 billion of issuances in 2021. SIMON delivers integrations across 50-plus product manufacturers and 50-plus wealth managers, including the largest IBDs, bank/regional broker-dealers and private banks, and more than 100 RIAs, as well as platform access to more than 100,000 advisers.
“Today’s wealth management professionals seek a premium technology platform and access to a broader range of alternative investment strategies that provide thoughtful ways to diversify and potentially enhance long-term returns in client portfolios,” said Lawrence Calcano, chairman and CEO of iCapital. “SIMON is a recognized leader in structured investments and annuities, offering an exceptional user experience and a distribution network of impressive depth and breadth. We are thrilled to welcome