iCapital and Envestnet announced an expanded strategic partnership that enables advisors to access alternative investments and structured products within Envestnet's Unified Managed Account platform.

The partnership allows advisors to incorporate alternatives and structured investments alongside traditional public market holdings within a single account structure. Advisors can access iCapital's technology platform through Envestnet and utilize workflows that connect iCapital's technology into Envestnet's advisor-traded sleeves.

The expanded capability includes single sign-on functionality to access iCapital's platform, which the companies said helps reduce friction across key stages of the investment process. Advisors will be able to access alternative investments and structured investments through iCapital's platform while maintaining consistency with broader portfolio management and reporting workflows.

"As alternatives increasingly become a core component of portfolios, advisors need a practical way to implement them alongside traditional assets," said Gary Gallagher, President of iCapital.

Dana D'Auria, Co-Chief Investment Officer and Group President at Envestnet Solutions, said the company is "focused on giving advisors the ability to bring the full spectrum of investment opportunities into a unified portfolio experience."

The expansion builds on the existing iCapital-Envestnet partnership. Recent developments include Envestnet onboarding two products managed by iCapital: iDPC, a private credit fund, and ODS (Outcome Defined Strategy), a structured investments separately managed account, making both available within portfolios and models on the Envestnet platform.

iCapital manages more than $1.14 trillion in assets serviced globally on its platform, including $300.6 billion in alternative platform assets, $251.4 billion in structured investments and annuities outstanding, and $589.4 billion in client assets reported on. Envestnet has $7.0 trillion in platform assets.