The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

Allocate
Allocate, a private markets operating system for wealth advisory firms and fund managers, has partnered with VanEck to expand advisor and RIA access to private market strategies. 

VanEck uses Allocate's technology and operational infrastructure to bring its institutional private markets expertise to the wealth channel, VanEck said in a statement. 

The arrangement allows VanEck to launch wealth-focused private markets offerings in weeks rather than months, it said. VanEck will retain control of its strategy, product and investor relationships, with Allocate providing the underlying technology and operations. These operations include onboarding, subscription processing, compliance workflows, capital calls and investor reporting.

Allocate connects asset managers to a network of more than 375 wealth advisory firms and RIAs and says it powers over $5 billion in assets on its platform. 

VanEck, which was founded in 1955, oversaw about $237.4 billion in assets across mutual funds, exchange-traded funds and institutional accounts, as of June 30.