Tiedemann Wealth Management, the New York-based registered investment advisor that specializes in wealth services, has launched a new product that invests mainly in third-party managers across a range of asset classes.

TWN Partners Fund, the product, is designed for high net worth individuals and institutions. The firm says it offers lower correlation to traditional markets by investing in multiple asset classes, both traditional and alternative, similar to Tiedemann's earlier offering, the Moderate Growth Portfolio.

The team managing the TWM Partners Fund has worked together for seven years at the company and currently manages $1.5 billion within the Moderate Growth portfolio.

"Through the access of our team, the fund is able to invest in a diversified portfolio of equities, fixed income, commodities, hedge funds, and other alternative strategies," said Michael Tiedemann, senior managing director and chief investment officer.

Tiedemann Wealth Management also has offices in Palm Beach and Los Angeles, and presently works with around 90 clients, advising them on some $6 billion of investable assets.