CHICAGO, November 18, 2021 – Arete Wealth, a full-service broker-dealer, registered investment advisor, and insurance firm, announced it has agreed with Masterworks, a provider of art investment securities, to launch an affiliated branch office in New York City. The two-year agreement is effective immediately.
Financial considerations for the agreement were not disclosed, and neither company has taken any equity ownership in the other party or any of its affiliates.
Using its proprietary data to build a diversified portfolio of art curated by its industry-leading research team, Masterworks’ platform offers investment opportunities in works from the world’s most renowned artists including Banksy, Kaws, and Basquiat.
The new branch will conduct business under the Masterworks brand and become part of Arete Wealth’s network of more than 100 locations across the United States; it also represents Arete Wealth’s first branch office in New York City.
Under the agreement, Chicago-based Arete Wealth will act as a co-managing broker-dealer, underwriter, and placement agent for all of Masterworks’ art securities products offered for sale in primary offerings. The branch will participate as a syndicate member in any transaction that names Arete Wealth as a co-manager.
The arrangement also provides a boost to Arete Wealth’s highly regarded Art & Wine Advisory group, an exclusive service for clients thought to be the only one of its kind in the U.S. offered by a financial services firm. The Arete Wealth Art & Wine program allows clients to work with advisors who are experts in these specific alternative investments.
Read the full media release here.
Read our associated Financial Times feature here.
