Account solutions for regulated entities.
North Capital Private Securities (NCPS) opens accounts for registered investment advisers (RIAs) and broker-dealers, built around the way regulated firms hold cash, collect fees, invest in alternatives, and settle trades.
Regulated firms have regulatory obligations. Their accounts should be built for them.
RIAs and broker-dealers need practical ways to hold cash, collect fees, invest in alternatives, and settle trades, without managing a separate account for every client or transaction. North Capital provides accounts designed for those workflows.
Three ways regulated firms use North Capital accounts
Aggregate client cash in a single account instead of one per client.
Pull advisory fees directly from the account.
Invest client cash in alternative investments.
North Capital sends quarterly statements to your clients.
Hold the assets of the SPVs you manage in custody with North Capital.
Structured with the aim of helping advisers comply with the Custody Rule.
Quarterly statements sent directly to SPV investors.
Receive fees into a dedicated account.
Facilitate trade settlement on alternative trading systems.
Support other operational needs, depending on your business.
Built with the Custody Rule in mind
Rule 206(4)-2 under the Investment Advisers Act of 1940, known as the Custody Rule, sets requirements for RIAs that have custody of client funds or securities, including how those assets are held and how clients receive account statements. An adviser that manages a pooled vehicle such as an SPV is generally considered to have custody of its assets.
North Capital's account solutions for RIAs, including omnibus accounts for client cash and custody for SPVs, are designed with the aim of helping advisers comply with the Custody Rule, with quarterly statements sent by North Capital directly to clients.
How the Custody Rule applies depends on your firm and the assets involved. Consult your compliance team or securities counsel.
Custody that fits your structure
North Capital custody also supports cap table consolidation, investor distributions, embedded accounts, and custom platforms for fund sponsors.
Every firm's clients, products, and obligations are different. Schedule a call with our team to walk through your situation and see whether a North Capital account solution may be a fit.