Monark embeds private assets into brokerages
Ben Haber, CEO of Monark, on building the DTCC for the private markets
The strategic unlock is that Monark turns private investing from a separate account workflow into an in app purchase inside the brokerage relationship the investor already has. Instead of pushing someone into a new portal, new KYC flow, and separate funding step, Monark plugs into the broker or clearing stack so cash can move from the existing brokerage balance into an SPV or fund, with reconciliation and position reporting handled behind the scenes.
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In the old model, an investor often had to leave their brokerage, fill out subscription documents, wire money, and then track the position off platform. Monark keeps the money movement tied to the existing brokerage account, which removes the biggest drop off point in private market conversion, the extra account opening and funding step.
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Custody can still work in two ways. In the common issuer self custody model, the SPV issuer keeps the books and the position is held away from the broker. In the tighter clearing firm model, the private asset can sit under custody at the clearing firm and show up on the investor's normal brokerage statement and account balance.
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This is also how Monark differs from platforms like iCapital and Zanbato. iCapital streamlines subscriptions, feeder funds, and reporting for advisors and wealth channels, while Zanbato is built around institutional broker networks and block trading. Monark is aimed at embedding private assets directly inside retail brokerage and wealth apps people already use.
The direction of travel is toward private assets becoming just another line item in the brokerage account, alongside stocks and ETFs. As more clearing firms support on statement custody and more brokerages look for higher margin products, the winners will be the infrastructure layers that make private market investing feel operationally identical to buying any other security.