NASHVILLE, Tenn., Aug. 11, 2021 /PRNewswire/ -- Alto Solutions, Inc. (Alto), the next-generation self-directed IRA platform that makes it easy for individuals to access and invest in alternative assets using their retirement funds, announced today that Amin Dabit has joined its leadership team as Chief Operating Officer. The announcement comes during a period of significant company growth following Alto's recent successful close of a $17 million Series A funding round led by Unusual Ventures. In May 2021, LendingClub Corporation selected Alto as its new preferred IRA custodian for LendingClub IRA account holders.
Dabit brings more than 15 years of experience in the financial services and wealth management industry to Alto, most recently as Vice President of Advisory Service at Personal Capital. In his new role at Alto, Dabit will spearhead strategy development as well as the execution and scaling of the business during its current phase of rapid growth.
"Amin has a deep understanding of the friction between custodians' traditional offerings and investors' rising demand for new ways to diversify their portfolios," said Eric Satz, founder and CEO of Alto. "In addition to his operational expertise and vision for driving innovative products into the market, Amin brings valuable perspective and steady leadership to our rapidly growing team. He will be instrumental to Alto's ongoing work to expand access to alternative assets through our easy-to-use, low-cost platform."
Prior to Personal Capital, Dabit served in financial advisor and client service roles at Merrill Lynch and UBS Financial. Among his accomplishments, Dabit has played integral roles in developing and championing new processes and technology that improve and optimize the experience and offerings for advisors and their clients.
"Throughout my career, it has been abundantly clear that investors want more control over investing their retirement funds, specifically in regards to alternative assets," said Dabit. "Additionally, advisors are constantly looking for new ways to diversify their clients' portfolios and that has now accelerated due to increased demand. The industry is ripe for disruption, and I believe Alto is at the forefront of democratizing access to alternative assets. Its innovative technology has the potential to change the future of wealth management as we know it today."
Within the last 12 months, the total number of funded accounts on Alto's platform have grown more than 10 times. Notably, the company has expanded its Alto CryptoIRA offering with the recent additions of leading crypto fund managers Bitwise, Grayscale, and SkyBridge Capital to its platform, as well as a new partnership with Eaglebrook to enable seamless investment in bitcoin from retirement accounts for independent financial advisors.
About Alto Alto is a Nashville-based financial technology company that launched its next-generation self-directed IRA platform in 2018 to make it easy for individuals to access and invest in alternative assets using their retirement funds. The first of its kind, Alto's platform streamlines the process for investors, investment funding portals, and investment sponsors alike. Among Alto's current investment partners are AngelList, Coinbase, EquityZen, Masterworks, Republic, and Wefunder, as well as financial advisors, fund sponsors, and other direct issuers. Alto is not a registered broker-dealer or investment advisor.