RCM Alternatives: Platform Profile

Overview

RCM Alternatives is the registered DBA of Reliance Capital Markets II, LLC.

Current identity:

• Legal entity: Reliance Capital Markets II, LLC
• Doing business as: RCM Alternatives
• Independent introducing broker: Yes
• NFA member: Yes

RCM sits between managed-futures managers, FCMs and investors rather than functioning as one single CTA strategy.

May fit better for

• HNW investors evaluating separately managed CTA accounts;
• family offices and institutions building multi-manager alternatives allocations;
• RIAs seeking managed-futures access;
• investors wanting due-diligence support;
• allocators comparing managed futures, trend following and macro managers;
• investors who want to choose between SMA, liquid-alternative and more fully managed access.

May fit less well for

• investors seeking one simple ETF-only brokerage;
• small accounts below the relevant access-route minimums;
• users who expect RCM itself to be the underlying CTA on every strategy;
• investors who want one universal fee across every manager;
• users who assume RCM holds futures customer funds directly;
• investors uncomfortable with leverage or performance-fee structures.

Three investor access routes are currently published

Current investor page:

• SMA Platform:
• Minimum: $1M-$5M
• Strategies: 100+
• Liquidity: varies
• Engagement: high
• Liquid Alternatives:
• Minimum: $25K
• Strategies: 20
• Liquidity: daily
• Engagement: medium
• All Weather Portfolio:
• Minimum: $100K
• Strategies: 35+
• Liquidity: monthly
• Engagement: light

These are separate access routes.

as though every RCM offering starts there.

The SMA platform is separately managed account access

Current RCM SMA materials describe an SMA as an account in the investor's own name.

RCM supports:

• manager sourcing;
• portfolio construction;
• risk analysis;
• FCM matching;
• account opening;
• execution/clearing relationships;
• position-level transparency.

RCM works with multiple FCMs

Current asset-manager materials state RCM maintains relationships with:

• FCM relationships: 10+

The correct clearing partner depends on the strategy, market access and risk configuration.

RCM covers more than managed futures

Current platform coverage includes:

• managed futures;
• trend following;
• global macro;
• digital assets;
• ETFs/mutual funds;
• private or pooled alternative structures.

RCM receives brokerage-linked compensation

Current legal disclosure states RCM can receive:

• a portion of commodity brokerage commissions paid in futures trading;
• a portion of interest income earned on account assets, if applicable;
• a portion of fees paid by CTAs for accounts introduced by RCM.

These compensation streams create conflicts that should remain visible.

They are not proof that a manager recommendation is unsuitable.

CTA fees remain manager-specific

Current disclosure directs prospective managed-futures clients to the CTA disclosure document for:

• principal risks;
• management fees;
• incentive fees;
• track record;
• other charges.

Managed futures performance requires source context

RCM warns that:

• CTA results can come from multiple sources;
• performance can be composite;
• individual account results can differ;
• account size and commissions matter;
• historical or hypothetical composites have limitations.

Current regulatory identity should not be replaced by a securities affiliate

RCM Alternatives is the DBA of Reliance Capital Markets II, LLC.

into the managed-futures legal-entity field.

Assessment

RCM is best understood as an alternatives-access and infrastructure platform.

The current public offering spans:

• high-minimum SMAs;
• lower-minimum liquid alternatives;
• a more hands-off multi-strategy portfolio;
• manager research;
• FCM relationships;
• trading and clearing infrastructure.

The main due-diligence issue is not one headline fee.

It is identifying which legal structure, CTA, FCM, fee agreement and liquidity terms apply to the exact route the investor chooses.