Alto Solutions, Inc., the self-directed IRA platform making it easy and affordable for individuals to invest in alternative assets via tax-advantaged retirement funds, has announced the company’s partnership with Prosper Marketplace, Inc., an online marketplace for consumer loans.
Users of the Alto IRA platform may use their IRA funds “to invest in loans originated through Prosper’s online marketplace lending platform.” Prosper connects people who want to borrow money with individuals and institutions that “want to invest in consumer credit, thereby facilitating access to credit for borrowers and offering attractive returns for investors.”
Tara Fung, Chief Revenue Officer of Alto, stated:
“Prosper was the first peer-to-peer consumer lending marketplace in the U.S. and has given everyday Americans a first-of-its-kind investment opportunity to better diversify their portfolios. Thanks to our partnership, Alto investors can now deploy IRA funds to invest in consumer loans.”
John Goldston, VP of Capital Markets at Prosper said:
“As a self-directed IRA provider, Alto has a strong reputation for its easy online account setup, transparent pricing, and excellent client service. We’re excited by this opportunity to integrate with Alto and join the firm’s growing list of leading investment partners.”
Since 2006, Prosper has facilitated over $20 billion in peer-to-peer loans to over 1,180,000 people across America. Fixed-rate, fixed-term loans “offer stable returns for investors with a tolerance for more risk than lower yielding credits.” Personal loans are just one more option for Alto users “to diversify their asset allocation and achieve the financial future they want.”
As covered, Alto is a Nashville-based Fintech that launched its next-gen self-directed IRA platform in 2018 “to make it easy for individuals to access and invest in alternative assets using their retirement funds.”
Alto’s platform streamlines the process for investors, investment funding portals, and investment sponsors alike. Alto’s current investment partners include AngelList, DiversyFund, Eaglebrook Advisors, Fundr, Grayscale, Masterworks, Republic, and Vint, as well as financial advisors, fund sponsors, and other direct issuers.
Alto is “not a registered broker-dealer or investment advisor.” Alto does “not promote or endorse individual investment opportunities and does not provide investment advice to its clients.”