North Capital Launches Qualified Custody Services

Firm Harnesses Custody Services from Fiduciary Trust International to Help Advisors Resolve Challenges Associated with Exempt Securities.

SALT LAKE CITY, UTAH, USA, October 24, 2022 /EINPresswire.com/ -- North Capital Private Securities Corporation, a SEC-registered broker-dealer, member FINRA and SIPC, and a leading provider of transaction, clearing, and custody services for exempt securities, has announced the launch of custody services for qualified accounts—such as Individual Retirement Accounts (IRAs), Simplified Employee Pension (SEP) IRAs, and ROTH IRAs—which include private securities.

“This new custody offering represents a big step forward in our mission to expand access, liquidity, and transparency for exempt securities,” said James P. Dowd, CFA, Founder and CEO of North Capital. “The combination of North Capital’s cutting-edge investment technology stack and Fiduciary Trust International’s nine decades of custody experience position us to deliver a unique solution to the private markets.”

At a time when private markets have been growing faster than public markets, and demand for alternative strategies involving private market allocations continue to grow, this lack of custody infrastructure for exempt securities has been a barrier to investment by advisors on behalf of their clients. North Capital’s custody solution for exempt securities—powered by Fiduciary Trust International—has been developed to remove obstacles to investment in private markets that advisors and broker-dealers have historically faced.

North Capital first became a clearing and carrying broker-dealer in 2016, five years after it began operations as a private placement broker. The firm initially sought approval to become a custodian solely to facilitate money movements related to primary offerings, and later received requests to hold private securities for taxable accounts. Qualified accounts were routinely referred to other custodians. However, Fiduciary Trust International will serve as custodian for North Capital, and will also hold certain customer accounts. Fiduciary Trust International announced its strategic investment in, and collaboration with, North Capital in December 2021.

“We look forward to working with North Capital to support its efforts to help retirement-savers benefit from alternative investment strategies,” said David Lederer, Director and Head of Investor Services at Fiduciary Trust International. “We are proud that our combined technology and expertise can make it easier for advisors to help clients reach their retirement goals, and achieve financial peace of mind.”

About North Capital
North Capital provides comprehensive technology solutions and services for exempt securities, supporting issuers and their advisors, platforms and other broker-dealers. Through North Capital Investment Technology and its registered broker-dealer, North Capital Private Securities Corporation (CRD# 154559/SEC#8-68648), the firm also provides technology-enabled escrow, streamlined investor vetting (including KYC/AML and accredited investor verifications), custody, secondary trading through the PPEX ATS, and a range of other broker-dealer services. For more information, visit http://www.northcapital.com.

Tyler Jones
North Capital
+1 888-625-7768
tjones@northcapital.com
Visit us on social media:
LinkedIn