NEW YORK and BERWYN, Pennsylvania — April 15, 2026

Executive Summary

iCapital and Envestnet have announced an expansion of their strategic partnership to enable broader integration of alternative investments and structured investments within Unified Managed Accounts (UMAs). The enhanced collaboration allows financial advisors to access iCapital’s technology platform directly through Envestnet’s UMA framework, supporting portfolio construction, implementation, and ongoing management within a unified structure.

The expanded capabilities are designed to provide advisors with the ability to incorporate both traditional and non-traditional assets into a single account while maintaining consistency in workflows and reporting. The integration includes features such as single sign-on access and connected workflows, supporting a more streamlined investment lifecycle process. The development reflects the continued evolution of the partnership as advisors adopt increasingly complex portfolio strategies.

Announcement Overview

The expanded partnership between iCapital and Envestnet introduces new capabilities that integrate iCapital’s alternative investments technology within Envestnet’s Unified Managed Account platform. This integration enables advisors to manage alternative investments and structured products alongside traditional public market assets within a single account structure.

Through this framework, advisors can construct portfolios that include a broader spectrum of investment types, while utilizing Envestnet’s advisor-traded sleeves and connected workflows. The system supports end-to-end investment lifecycle management, including portfolio construction, implementation, and ongoing oversight. The integration is designed to align alternative investment workflows with existing portfolio management processes, ensuring consistency across reporting and execution.

The partnership expansion builds on prior collaboration between the two firms, further enhancing the accessibility of complex investment products within advisor-managed portfolios.

Key Announcement Details

Partnership Structure and Expansion Scope

Announcement Type: Strategic partnership expansion between iCapital and Envestnet focused on enhancing integration capabilities within investment platforms
Announcement Date: April 15, 2026
Dateline Location: NEW YORK and BERWYN, Pennsylvania
Nature of Partnership: Expansion of an existing strategic collaboration between iCapital and Envestnet
Primary Objective: Enable broader access to iCapital’s alternative investments capabilities within Envestnet’s Unified Managed Account (UMA) platform
Strategic Focus: Supporting advisor adoption of complex and diversified portfolio strategies
Partnership Evolution: Builds on prior collaboration and continues to evolve alongside increasing advisor demand for advanced portfolio construction tools

Platform Integration and Technology Enablement

Core Integration: Embedding iCapital’s technology platform within Envestnet’s UMA platform
System Connectivity: Direct integration into Envestnet’s advisor-traded sleeves
Technology Environment: Unified digital infrastructure combining iCapital’s investment platform with Envestnet’s portfolio management system
Workflow Integration: Connected workflows spanning portfolio construction, implementation, and ongoing oversight
User Experience Design: Seamless interaction across multiple stages of the investment lifecycle within a single system
Operational Consistency: Alignment with Envestnet’s broader portfolio management and reporting workflows

Unified Managed Account (UMA) Capabilities

Account Structure: Single Unified Managed Account framework combining multiple asset classes
Asset Integration: Inclusion of alternative investments and structured investments alongside traditional public market holdings
Portfolio Framework: Consolidated portfolio environment allowing advisors to manage diverse investments within one account
Scalability Feature: Ability to allocate and manage complex products at scale within a unified structure
Portfolio Oversight: Centralized monitoring and management of all holdings within the UMA

Advisor Access and Functional Capabilities

Access Point: Advisors access iCapital’s platform directly through Envestnet
Investment Access: Availability of alternative investments and structured investments through iCapital’s platform experience within Envestnet
Portfolio Construction Capability: Integration of non-traditional assets into portfolio design processes
Implementation Capability: Execution of investment strategies within a unified workflow
Ongoing Management: Continuous oversight and lifecycle management of investments within the same system
Advisor Enablement Goal: Support delivery of more sophisticated and diversified portfolios

Single Sign-On (SSO) and User Experience Enhancements

Authentication Feature: Single Sign-On (SSO) functionality enabling unified access
Access Efficiency: Elimination of multiple login requirements across platforms
Workflow Continuity: Reduced friction across key stages of the investment process
Platform Consistency: Maintenance of a consistent experience across portfolio management, reporting, and execution
User Experience Outcome: Streamlined navigation between iCapital and Envestnet systems

Investment Product Coverage

Alternative Investments: Full access to iCapital’s alternative investment offerings within Envestnet
Structured Investments: Integration of structured investment products into UMA portfolios
Traditional Assets: Continued inclusion of public market holdings within the same account
Combined Portfolio Capability: Ability to manage traditional and non-traditional assets together
Diversification Support: Facilitation of diversified portfolio strategies within a unified framework

Strategic Positioning and Advisor Value Proposition

Advisor Objective: Enable access to a full spectrum of investment opportunities within a unified portfolio experience
Portfolio Sophistication: Support for constructing more advanced and diversified investment strategies
Operational Efficiency: Reduction of complexity through integrated systems and workflows
Execution Consistency: Uniform approach to managing investments across asset classes
Scale Enablement: Capability to manage investment strategies across multiple client portfolios

Leadership Statements and Attribution

iCapital Leadership: Statement from Gary Gallagher, President of iCapital
Envestnet Leadership: Statement from Dana D’Auria, CFA, Co-Chief Investment Officer and Group President, Envestnet Solutions
Statement Focus (iCapital): Emphasis on integrating alternatives alongside traditional assets within a single account structure
Statement Focus (Envestnet): Emphasis on enabling advisors to deliver unified and sophisticated portfolio experiences
Shared Vision: Alignment on expanding advisor capabilities through integrated technology and portfolio frameworks

iCapital Company Overview and Capabilities

Company Type: Global fintech company shaping the future of investing
Primary Audience: Financial advisors, wealth managers, asset managers, insurance carriers, and industry participants
Product Offering: Non-traditional investment products across Marketplace, Enterprise Solutions, Technology, and Data Services
Platform Scope: End-to-end lifecycle management of alternative investments, structured investments, and annuities
Technology Utilization: Use of AI and machine learning for digital identity processes including KYC and AML
Compliance Support: Secure and compliant investment lifecycle processes
Customization Capability: Modular solutions tailored to user requirements

Assets and Platform Scale

Total Assets Serviced: $1.14 trillion globally (as of January 31, 2026)
Alternative Platform Assets: $300.6 billion
Structured Investments and Annuities Outstanding: $251.4 billion
Client Assets Reported On: $589.4 billion

Client Base and Reach

Wealth Management Firms Served: Over 3,300
Active Financial Professionals: 123,000

Global Presence and Operations

Headquarters: New York and Greenwich, Connecticut
Global Offices: 18 locations worldwide
Key Hubs: Zurich, London, Hong Kong, Singapore, Tokyo, Sydney, Abu Dhabi, Toronto
R&D Center: Lisbon

Industry Recognition

Euromoney Award: World’s Best Technology Provider for Wealth Management
CNBC Recognition: World’s Top Fintech Companies
Forbes Listing: Fintech 50

Envestnet Company Overview and Capabilities

Company Type: Adaptive WealthTech company
Core Offering: Technology, insights, and support for financial advisors
Platform Functionality: Enables decision-making across all stages of a client’s financial lifecycle
Experience: 25 years in the financial technology industry
Platform Assets: Approximately $7.0 trillion

Advisor Reach and Client Base

Advisor Penetration: Trusted by over one-third of all financial advisors
Client Segments: Banks, wealth managers, brokerages, and registered investment advisors (RIAs)

Corporate Structure

Entity Definition: Envestnet refers to the family of operating subsidiaries under Envestnet, Inc.

Legal, Regulatory, and Important Information

Firm Relationship: iCapital and Envestnet are separate and unaffiliated firms
Purpose of Material: Provided for informational purposes only
Advisory Disclaimer: Not intended as legal, tax, or investment advice
Investment Disclaimer: Not a recommendation to employ a specific investment strategy
Offering Disclaimer: Not an offer to sell or solicitation to purchase securities

Securities and Advisory Entities

Broker/Dealer: iCapital Markets LLC (registered with FINRA and member of SIPC)
Product Risk Note: Financial products may be complex and/or speculative and not suitable for all investors
Investment Adviser: iCapital Advisors, LLC (registered with the U.S. Securities and Exchange Commission)

Intellectual Property and Legal Notices

Trademark Ownership: “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc.
Copyright Notice: © 2026 Institutional Capital Network, Inc. All Rights Reserved

Integration of Alternative and Structured Investments Within UMAs

The partnership expansion enables financial advisors to incorporate alternative investments and structured investments directly within Unified Managed Accounts, alongside traditional public market holdings. This unified structure allows advisors to manage diverse asset classes within a single portfolio framework.

Through Envestnet’s platform, advisors can access iCapital’s technology to facilitate the inclusion of non-traditional investment products. The integration supports the allocation of assets across multiple categories while maintaining a consistent account structure. This approach allows advisors to manage portfolios holistically without requiring separate systems or fragmented processes.

The ability to integrate alternative and structured investments within UMAs reflects a shift toward more comprehensive portfolio construction models, where multiple asset classes are managed together within a unified framework.

Workflow Connectivity Across the Investment Lifecycle

A central component of the expanded partnership is the connection of iCapital’s technology platform into Envestnet’s advisor-traded sleeves. This integration enables a seamless workflow across key stages of the investment lifecycle.

Advisors can utilize connected workflows to support:

Portfolio construction
Investment implementation
Ongoing portfolio oversight

These workflows are designed to ensure continuity across different stages of portfolio management. By aligning iCapital’s platform capabilities with Envestnet’s UMA infrastructure, advisors can maintain consistency in how investment decisions are executed and monitored.

The integration reduces fragmentation across systems and allows for a more streamlined experience when managing portfolios that include both traditional and non-traditional assets.

Access Through Single Sign-On and Platform Consistency

The expanded capabilities include the implementation of Single Sign-On (SSO) functionality, allowing advisors to access iCapital’s platform experience directly through Envestnet. This feature reduces friction in navigating between systems and supports a more integrated user experience.

Through SSO access, advisors can:

Access alternative investment offerings
Access structured investment products
Maintain consistent portfolio management workflows

The integration ensures that advisors can operate within a unified environment while accessing a broader range of investment opportunities. This consistency extends to reporting and operational processes, supporting a cohesive approach to portfolio management.

Leadership Commentary

Gary Gallagher, President of iCapital, stated:

“As alternatives increasingly become a core component of portfolios, advisors need a practical way to implement them alongside traditional assets. Embedding iCapital into Envestnet’s UMA platform allows advisors to incorporate alternatives and structured investments within a single account structure, supporting diversification, scale, consistency, and day-to-day execution across client portfolios.”

Dana D’Auria, CFA, Co-Chief Investment Officer and Group President, Envestnet Solutions, added:

“We’re focused on giving advisors the ability to bring the full spectrum of investment opportunities into a unified portfolio experience. Expanding our work with iCapital is about extending that vision, making it easier for advisors to deliver more sophisticated portfolios within a single, cohesive framework.”

Expansion of Existing Partnership Capabilities

The announcement builds on the existing partnership between iCapital and Envestnet, which continues to evolve in response to the adoption of more complex portfolio strategies by financial advisors.

Recent developments highlighted include:

Onboarding of iCapital–iDPC private credit fund
Availability of ODS (Outcome Defined Strategy) structured investments SMA
Inclusion within Envestnet portfolios and models

These additions expand the range of investment products available within the Envestnet platform, supporting diversified portfolio construction.

Platform Capabilities and Technology Infrastructure

iCapital’s platform provides technology infrastructure designed to support the lifecycle of non-traditional investment products. The platform facilitates processes such as learning about, purchasing, managing, and integrating alternative investments, structured investments, and annuities into portfolios.

The platform leverages:

Artificial Intelligence (AI)
Machine Learning technologies
Digital identity processes (KYC/AML)

These capabilities support compliant and secure investment lifecycle processes. The platform is designed to streamline financial operations, enhance infrastructure, and provide reporting and analytics tools.

Envestnet’s UMA platform provides a framework for managing portfolios that include multiple asset classes. The integration with iCapital’s technology enhances the platform’s ability to support complex investment strategies within a unified account structure.

Important Information

This material has been provided for informational purposes by iCapital, Inc. and/or its affiliates, including Institutional Capital Network, Inc. The material is the property of iCapital and is not intended as legal, tax, or investment advice.

The information should not be relied upon as:

A recommendation to employ a specific investment strategy
An offer to sell or solicitation to purchase securities
A recommendation of any fund or security

Securities products and services are offered through iCapital Markets LLC, a registered broker/dealer and member of FINRA and SIPC. Financial products available through iCapital Markets LLC may be complex or speculative and may not be suitable for all investors.

iCapital Advisors, LLC is registered with the Securities and Exchange Commission and acts as an adviser to certain privately offered investment funds.

“iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc.

About iCapital

iCapital is a global fintech company focused on shaping the future of investing for financial advisors, wealth managers, asset managers, insurance carriers, and other participants in the financial ecosystem.

The company offers a range of non-traditional investment products through:

iCapital Marketplace
Enterprise Solutions
Technology and Data Services

These offerings are designed to support investment outcomes across the ecosystem.

iCapital provides access to data connectivity, education, and research programs, supporting advisors and their clients. The company’s platform manages the lifecycle of non-traditional investment products, enabling users to learn about, purchase, manage, and integrate alternative assets, structured investments, and annuities.

As of January 31, 2026, iCapital reports:

$1.14 trillion in assets serviced globally
$300.6 billion in alternative platform assets
$251.4 billion in structured investments and annuities outstanding
$589.4 billion in client assets reported on

The company serves:

Over 3,300 wealth management firms
123,000 active financial professionals

Headquartered in New York and Greenwich, Connecticut, iCapital operates across 18 global offices, including locations in Zurich, London, Hong Kong, Singapore, Tokyo, Sydney, Abu Dhabi, Toronto, and Lisbon.

The company has received recognition from:

Euromoney (World’s Best Technology Provider for Wealth Management)
CNBC (World’s Top Fintech Companies)
Forbes Fintech 50

About Envestnet

Envestnet is an Adaptive WealthTech company that provides technology, insights, and support to financial advisors.

The company’s platform enables advisors to make decisions across various stages of a client’s financial lifecycle. Envestnet’s offerings are designed to support investment management, financial planning, and client engagement.

With:

25 years of experience
$7.0 trillion in platform assets

Envestnet serves a wide range of financial institutions, including banks, wealth managers, brokerages, and registered investment advisors (RIAs).

The platform is used by:

Over one-third of financial advisors

Envestnet refers to the family of operating subsidiaries under Envestnet, Inc.

Media Contact

For additional information, visit envestnet.com.

Source Attribution

Source: Company announcement

iCapital and Envestnet Expand Strategic Partnership to Integrate Alternative and Structured Investments Within Unified Managed Account Portfolios for Advisors