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As a result of the acquisition, accredited investors with WealthFlex accounts as well as current and future YieldStreet investors will be able to diversify their retirement portfolios with YieldStreet's offerings across a range of alternative asset classes, including real estate, marine finance, legal finance, art finance, and commercial loans.

"Our investors wanted a tax-efficient method of investing on YieldStreet, and we listened," said Milind Mehere, Founder and CEO of YieldStreet. "Anyone who has ever tried to move their 401(k) or IRA understands that the process is not consumer-friendly or designed for today's world. Our promise is to make it as fast and cost-efficient as possible so investors can easily move their money and take control of their retirement portfolios."

"The $27.1 trillion retirement market is currently underutilized and lacking diversification. YieldStreet acquired WealthFlex to give investors greater flexibility to invest their retirement portfolios beyond traditional products as we continue to disrupt the ways in which wealth is created for our growing community of investors," said Michael Weisz, Founder and President of YieldStreet. "In the future, we plan to explore originating investments specifically designed to be most efficient for IRA investors."

Today, the $27.1 trillion held in retirement accounts are invested in sub-optimized portfolios with limited access to potentially higher-yielding alternative investment products. Additionally, the retirement sector is comprised of a large and growing population with an increasing appetite for alternative investments beyond those typically offered through an IRA. With the acquisition of WealthFlex, YieldStreet continues to knock down high barriers to entry to wealth-generating investment opportunities for individual investors.

"Combining the capabilities of our seamless retirement account administration with the vision Michael and Milind have for enabling wealth creation with institutional quality investment products is a match made in heaven," said Joe DiDomenico, founder and CEO of WealthFlex, joining Yieldstreet as Director of Retirement Services. "The playing field for individuals to be able to invest for themselves has radically improved as a result of this acquisition."

Founded in 2014, WealthFlex is an ultra-intuitive digital platform that makes it easy, fast, flexible, and cost-effective to convert traditional IRA investments into self-directed private investments, providing customers with checkbook access to their investable cash with no need for plan administrator involvement or mailing and faxing documents. As part of the YieldStreet platform, YieldStreet will continue being investor first by expanding its incapabilities to help investors grow their retirement income and savings, including the launch of defined benefit plans, solo 401(k) plans, in-kind asset Roth conversions, and distributions, and other products that serve the best interest of the modern investor.