Savvy Wealth Taps Allocate to Launch Private Markets Program

Savvy Wealth, a technology-based registered investment advisor, has partnered with Allocate to launch its latest program, which is designed to provide advisors with access to private markets capabilities on its platform. 

The proprietary program will enable broad access to a wide variety of asset classes for advisors seeking to have their clients make pre-initial public offering investments. 

As more companies remain private longer, advisors are tapping into private market investment options for their clients that are maximizing long-term financial gains. 

About 86% of U.S.-based companies that have remained private have generated over $100 million in revenue, outnumbering 14% of companies that have launched an IPO, according to a recent outlook from Apollo Global Management. 

Additionally, the program aims to provide advisors with direct manager selection and portfolio construction, with a focus on broadening its scope to reach venture and growth managers. 

Advisors will also gain access to operational support, including reporting and tax documents, client portfolio management, and subscription support. 

Recently, Savvy Wealth raised $100 million in its Series C funding round, which was led by growth-stage venture firm Halo Fund and valuing the firm at $600 million. 

In August, Savvy Advisors added Utah-based Blue Barn Wealth and Tennessee-based Paragon Private Wealth Management, which brought roughly $550 million in combined assets to its wealth platform. 

New York-based Savvy Wealth, founded in 2021, is a venture capital–backed technology firm that manages over $9 billion in assets and over $4 billion in recruited assets for the year.