Subscription Data Framework for Retail Alternative Investments
Retail alternative investment operations today are largely bespoke and highly customized, limiting their ability to scale efficiently for mass‑affluent and retail investors. Expanding access to private market products will require thoughtful application of technology and reengineered processes that enable distribution at scale. In doing so, retail investors benefit from faster, higher‑quality service at lower cost, while providers gain the ability to scale operations and more effectively manage operational risk.
The paper proposes an industry data standard designed to address the lack of communication standards and governance that support subscription processing and client onboarding for alternative investment products. This data standard will help overcome a critical operational barrier to expanding retail investor access to private markets.