AltoIRA Names Tara Fung Chief Commercial Officer
Alternative investment IRA platform adds financial technology leader as growth rate jumps five times
NASHVILLE, Tenn., July 15, 2020 /PRNewswire/ -- AltoIRA, a technology platform that simplifies and streamlines the process for investors to add alternative assets to their IRAs, announced today that Tara Fung has joined the company as Chief Commercial Officer. The appointment comes as AltoIRA expands its platform with the addition of new partners, Republic and Cadence. These latest partners join a growing list of leading funding platforms available through AltoIRA including AngelList, Wefunder, Masterworks, and EquityZen.
In this newly created position, Fung will drive AltoIRA's overall growth strategy, accelerate investor adoption, and expand private market issuers on the platform. Fung's responsibilities include partner marketing, go-to-market planning, RIA sales, and strategic partnerships. She will report to Chief Executive Officer, Eric Satz.
"Tara's experience leading corporate growth strategies will help AltoIRA expand our alternative investments options and allow more individuals to achieve their financial goals," said Satz. "Her unique approach to identifying and executing on innovative partnerships is a great addition to the world-class leadership team we've built at Alto. Our business has significant momentum, and we are excited to have Tara on board to support our mission of unlocking access to alternative assets for the retail investor."
Total active investors on the AltoIRA platform have grown nearly five times in the last 12 months. AltoIRA recently launched the Alto CryptoIRA, which enables AltoIRA platform investors to buy and sell cryptocurrencies 24/7 through the Coinbase exchange with their tax-advantaged retirement dollars. The growth in these platform partnerships is fueled by the fact that AltoIRA investors typically invest four times as much as non-Alto investors per deal and participate in twice as many offerings on a given platform.
"It's an exciting time to be joining AltoIRA," said Fung. "Too many individual investors are seeing their options decline. We are giving investors more control over their investments and new opportunities to use their retirement funds to build a truly diversified portfolio that includes private assets. We have several new initiatives in the pipeline to help investors and advisors improve financial outcomes, and we are excited to bring them to market."
Fung joins AltoIRA from CommonBond.co, where she held a similar role after serving in different positions, including general management and enterprise sales. Prior to that, she worked in the Strategic Planning Group at American Express and managed international strategy at Daimler AG.
About AltoIRA
AltoIRA is a financial technology company on a mission to help individuals access and execute investments in alternative assets using their retirement savings. The firm's cost-effective and hassle-free platform streamlines the process for investors, funding portals and issuers alike. Alto currently works with leading platform partners including AngelList, Wefunder and Masterworks, as well as financial advisors, funds and other direct issuers. Launched in 2018, the Nashville-based fintech firm is backed by leading investors including the family office of Tony James, Moment Ventures, Foundation Capital and the Sequoia Scout Fund. For more information, please visit www.AltoIRA.com or follow us on LinkedIn and Twitter.
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Joe LoBello
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SOURCE AltoIRA
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