Alto adds CFO, general counsel

IRA-focused alternative investments platform Alto announced Wednesday the hiring of Tomek Siergiejuk as chief financial officer and Tom Eidt as general counsel.

A release does not note if the two replace individuals or if the roles are new the Nashville-based financial technology company.

Siergiejuk joins Alto after working more than 10 years at J.P. Morgan Wealth Management, where he served as managing director and CFO.

With over 20 years of experience in global financial services, Siergiejuk started his career in investment banking at Credit Suisse, advising financial institutions on M&A, IPOs and capital raising.

Eidt brings more than 20 years of legal, compliance and regulatory experience across both traditional and digital finance. He began his career at the U.S. Securities and Exchange Commission in Washington, D.C., where he was a senior counsel in the trading and markets division as well as an assistant director in the exams division.

Eidt most recently served as general counsel at Securitize, a platform for digital securities.

"With tens of trillions of dollars held in retirement accounts, more individuals are beginning to look for ways to put those dollars to work in investments that were once out of reach," Eric Satz, Alto founder and CEO, said in the release.

"Strengthening our leadership team is essential to ensuring we meet this moment with the discipline, vision and operational excellence that sets us apart."

Alto bills its platform as allowing investors to more easily and inexpensively than otherwise invest in alternative assets — such as cryptocurrencies, private equity and real estate — through their self-directed IRAs.

The release notes Alto acts as the IRA custodian for more than $1.9 billion in assets with 30,000 self-directed IRA investors. In addition, it supports more than 2,500 issuers who have raised capital on the platform.