Getting approval from their compliance department is already one of the top challenges facing RIAs investing in illiquid alternatives, second only to lack of liquidity, according to a recent survey by market research firm FUSE Research Network. “Unless an RIA is working through a platform that screens the alts manager and will verify/monitor that the investment manager has the systems and operations and vendors in place to implement and track their investment management process as promised … I am not sure how they could get comfortable with firms outside the top most well-known brands,” according to Neil Bathon, managing partner of FUSE.
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Article published on April 19, 2024