A platform used by a raft of wealth management firms has seen volumes surge since the third quarter of 2015.

CAIS, the US-based financial product platform offering independent wealth management professionals access to funds and products, has passed over the $3.5 billion mark for total purchase volume, rising by $1 billion since the third quarter of last year. 

(Total purchase volume refers to the total amount of money invested through assets on a platform. So family offices, RIAs, qualified investors, etc, transacted $1 billion in assets on the platform over the past year.)

The firm said it enables a fragmented wealth management sector to use its collective buying power to get institutional-level access to the best financial products, a crucial achievement amid a market characterized by changes such as rising compliance burdens and the new DOL Fiduciary Rule.

The platform aggregates registered investment advisors, broker-dealers, single and multi-family offices onto its platform.

“This significant traction represents only a portion of the evolving market opportunity. CAIS is committed to continuing to transform its platform to provide more efficient access to products previously inaccessible to the independent wealth management channel,” Matt Brown, CAIS founder and CEO. 

Over the last 12 months, CAIS has launched single sign-on and data exchange capabilities with Envestnet, PMC, Tamarac and Orion Advisor Services. In October, CAIS completed an integration with the HighTower enterprise portal, enabling HighTower’s advisors to access CAIS.