IPA Value Proposition:
- Real-time actionable intelligence on critical legislative and regulatory issues
- Direct relationships and dialogue with the SEC, FINRA, NASAA, Treasury and key agencies
Knowledge & Networking
- Showcase your firm and highlight your products and services
- Executives coming together to learn from industry experts and each other
- Expansion of business contacts through personal networking with industry leaders
Industry-Leading Public Relations
- Proactive PR efforts to increase awareness of PDIs
- Protect, enhance and build positive messaging for PDIs
- Exclusive relationship with a leading global communications firm
- Executive engagement in IPA committees provides national leadership for PDIs
- Your voice at the table affords opportunities to drive industry growth
% of Members
The Distribution Partner member category (“Distribution Partner(s)”) is comprised of Broker-Dealers and Registered Investment Adviser Firms. Broker Dealers. The Broker Dealer member category (“BD Member(s)”) is composed of Financial Industry Regulatory Authority (“FINRA”) member broker dealers who are not affiliated through ownership with Asset Managers and who offer PDI securities to their customers. Registered Investment Adviser Firms. The Registered Investment Advisor Firm member category (“RIA Member(s)”) is composed of registered investment adviser firms that recommend PDI securities to their customers.
% of Members
The Asset Manager member category (“Asset Manager”) is composed of sponsors of public, non-listed and/or privately placed portfolio diversifying investments (“PDIs”), including, without limitation, investments structured as REITs, business development companies, interval funds, tender offer funds, qualified opportunity zone funds, Delaware Statutory Trust exchange programs, or other public, non-listed investments and privately placed investments.
% of Members
The Industry Partner member category (“Industry Partner Member(s)”) is available to any person or entity not otherwise eligible to become an Asset Manager or Distribution Partner, but that provides goods or services to Asset Managers or Distribution Partners, or which otherwise wishes to market to such Members or be associated with the PDI industry. Industry Partners include FINRA member broker dealers that are not affiliated through ownership with an Asset Manager and do not offer PDI securities to their customers, but act as a dealer-manager for an Asset Manager’s PDI securities.
Thank you for your interest in the Institute for Portfolio Alternatives (IPA). We are confident that membership in the IPA will provide you and your firm with valuable services and benefits.
Select an application type for more information:
Click here for the IPA Member Code of Conduct.
The Sponsor member category (“Sponsor Member(s)”) is composed of Sponsors who are engaged in the sale or management of direct investment programs.
By way of clarification, the sponsor membership will represent all open and closed, non-liquated private and public, non-listed programs that are currently under management with the ultimate parent advisor as well as any co-sponsored products. For the purpose of membership in the organization and payment of membership dues, a Sponsor shall not include any of the following affiliated entities of such Person: (i) law firms, accounting firms, due diligence firms, analysts, transfer agencies and other service firms (each of which are required to obtain separate associate memberships in the organization and pay appropriate membership dues), and (ii) retail broker-dealers or registered investment advisors (each of which are required to obtain separate broker-dealer or RIA memberships, as applicable).
“Advisor” means the Person primarily responsible for directing, managing or performing day-to-day business affairs of a Direct Investment Program.
“Affiliate” means any Person directly or indirectly controlling, controlled by, or under common control with such other Person.
“Direct Investment Program” means any real estate program, oil and natural gas program, equipment leasing program, managed futures fund, BDC or other program within the scope of the organization’s industry focus.
“Person” means any natural person, partnership, corporation, association, trust, limited liability company or other legal entity.
Sponsor Dues Schedule – Based on Cumulative Equity Raised – Cumulative Equity Raised = Equity raised on all open and closed, non-liquidated private and public, non-listed programs since effective date that are currently under management inclusive of all alternative investment products covered by the IPA’s scope of membership. Do not include debt, DRIP or leverage in this figure.
Associate Members are broken out into two categories General & Independent Wholesaling / Managing Broker-Dealer.
General Associate member category is available to any person or entity not otherwise eligible to become a member under the other defined IPA Membership categories and is composed of enterprises which provide goods or services within the alternative industry space, or which otherwise wish to market to such Members or be associated with the DPP industry. Such as, but not limited to: Attorneys, Due Diligence Firms, Real Estate Firms, Licensed Real Estate Brokers, Management Companies, Mortgage Brokers, Accountants, Consultants, Appraisal Firms, Qualified Intermediaries, Trust Companies, Custodian /Clearing Firms*, Software Firms, Education Firms, Printers, Headhunters and other Industry Related Parties. * Custodians / Clearing Platforms Firms engaged in the guardianship of client assets in service of broker-dealers and/or RIA platforms. Subsidiaries of the same firm, with different functions, are considered as one membership.
General Associate Dues Schedule – Associate’s dues levels are based on total “Gross Industry Related Revenue” earned by the Associate and its affiliates. “Gross Industry Related Revenue” means all revenue received (before reduction for any expenses) in connection with products or services provided to sponsor organizations, issuers, broker-dealers, financial advisors, investors and other service providers with respect to public and private direct participation programs (non-traded limited partnerships and limited liability companies), public and private non-listed REITs, BDCs, Managed Futures and other alternative investments offered or distributed by IPA member firms.
Associate Membership Dues Chart
INDEPENDENT WHOLESALING / MANAGING BROKER-DEALERS
These firms connect investors and financial advisors with direct investment product sponsors. They work closely with the direct investment sponsors management teams and may offer one or several of the following services. Conduct investigations and perform due diligence and analysis with respect to the business and operations of the issuer. Structure, prepare and or review offering materials. Solicit and negotiate broker-dealer selling agreements and/or provides a distribution platform & sells products in the direct investment/alternative investment space.
**An Independent Wholesaling / Managing Broker-Dealer must encourage their partners in which they have dealer management agreements in place to become an IPA member.
Independent Wholesaling / Managing Broker-Dealer Dues Schedule – Independent Wholesaling / Managing Broker-Dealer – tiered based on selling agreements:
• $7,500 with no dealer manager agreements:
*An Independent Wholesaling / Managing Broker-Dealer who have no selling agreements with a sponsor firm in place in the given calendar year.
• $2,500 with dealer manager agreements & direct investment sponsor firms also hold an IPA membership
The Broker Dealer member category (“BD Member(s)”) is composed of FINRA member broker-dealers who are not affiliated through ownership with Sponsor Members and who offer direct investment securities directly to their customers, including FINRA member firms that act as dealer managers for Sponsors of direct investments except as defined by the Associate category.
Broker-Dealer Dues Schedule – Complimentary
RIA (Registered Investment Advisor Firms)
The Registered Investment Advisor Firm member category (“RIA Member(s)”) is composed of registered investment advisor firms which place their customers in direct investments and are not registered with a Broker-Dealer firm whether as individuals or at the firm level, other than for clearing or trading purposes.
RIA Dues Schedule – Complimentary