For CPA and Advisory Firms
Do I need an investment advisory license to use Connect?
No. Connect is structured so that CPA and advisory firms refer qualifying clients to the platform — they are not providing investment advice. The act of referring a client to a compliant private offering through a structured platform, without making a personal investment recommendation, is a meaningful legal distinction. We recommend every firm confirm this with their own legal counsel. ClairAlpha provides compliance documentation to support that conversation.
Will ClairAlpha contact my clients directly?
Never. Your clients interact with a co-branded experience that carries your firm’s identity. ClairAlpha operates invisibly behind it. Your client relationship, your trust, and your brand are never at risk.
What types of offerings are available on Connect?
Connect carries private offerings sourced from vetted sponsors and master broker-dealers — including private equity and private credit funds, real estate syndications, Qualified Opportunity Zone investments, 1031 DST structures, cost segregation-linked investments, and other Reg D and Reg A offerings. Every offering is reviewed for disclosure completeness and structural clarity before appearing on the network.
How is ClairAlpha different from a referral network?
A referral network is typically a list of relationships and informal introductions. ClairAlpha is
operational infrastructure — a platform with structured workflows, compliance architecture, vetted
participants on both sides, and products (Connect, Flow, Portal) that handle the entire lifecycle of a
private investment from listing through subscription through ongoing compliance. The difference is
the depth of the infrastructure, not just the existence of connections.
For Sponsors & Broker-Dealers
What is a NIGO document and why does Flow matter?
NIGO — Not-In-Good-Order — describes any subscription document submitted with errors, omissions, or eligibility mismatches that prevent processing. Industry estimates place NIGO rates at 30–60% for paper-based processes. Flow’s pre-submission validation intercepts errors before the document package is assembled — targeting a NIGO rate below 4%.
How long does Flow integration take?
Most Flow deployments are live within 3–4 weeks of signed agreement. The integration pathway depends on your existing platform stack. Both API-based and workflow-based deployments are supported. ClairAlpha’s integration team handles the technical setup.
Can Flow be deployed independently without Connect?
Yes. Flow is available as a standalone product for sponsors and broker-dealers who want subscription workflow automation for their existing client and advisor base — without joining the Connect listing network. This is a common deployment model for sponsors who already have distribution relationships and only need the subscription workflow infrastructure.
What is Portal’s relationship to IRS Material Participation rules?
IRS passive activity rules require investors seeking Material Participation status to demonstrate meaningful, documented participation in the investment activity. Portal provides the structured infrastructure for sponsors to share participation-relevant materials with LPs, and for investors to log and track the hours spent reviewing those materials and participating in activity — producing a yearlong, auditable record. Portal does not provide tax advice. The documentation it produces supports the investor’s tax professional in making the appropriate filing determination.
Can Portal be white-labeled for our brand?
Yes — this is the primary deployment model. Portal is designed to be deployed under a sponsor’s own brand. The MCG Portal, available on the App Store, is an example: a ClairAlpha-built investor relations and compliance platform, operating entirely under a sponsor’s brand. Your LPs see your portal. ClairAlpha is invisible.
What does ClairAlpha charge for Flow and Portal?
Flow is priced as a platform access and automation fee structured by subscription volume and offering complexity. Portal is priced per LP enrolled or as a flat annual license per offering — both standalone and bundled options are available. Specific pricing is discussed during the discovery call after we understand your volume and requirements. There are no performance-based fees on either production.
Have a question we didn’t answer? Reach us at contact@clairalpha.com