EquityMultiple Platform Alternatives

The Larson change

What are the EquityMultiple platform alternatives?

The main EquityMultiple platform alternatives in 2026 are marketplaces where independent sponsors list their own offerings, and fund menus built from large managers.

Those alternatives matter most to investors who joined to choose among many outside sponsors. Larson Capital Management has run the platform since August 1, 2026, and sponsors most of its new offerings. Investors who mainly bought EquityMultiple's short-term Alpine Notes have a separate set of options, covered further down.

What changed at the EquityMultiple platform on August 1, 2026?

Equity Multiple, Inc. licensed its platform and brand to a subsidiary of Larson Financial Holdings on August 1, 2026. Larson Capital Management began operating the platform day to day. The arrangement was announced on September 17, 2026. EquityMultiple's FAQ explains what moved and what stayed.

• New offerings: "Most new offerings will be sponsored and managed by Larson Capital Management or its affiliates."
• The model: EquityMultiple says it served "as an intermediary between investors and third-party owner-operators," and that the intent now "is a more direct investor-to-operator model."
• Ownership: Equity Multiple, Inc. "remains owned by its existing shareholders," and Charles Clinton continues as CEO.
• Existing investments: their terms and fees are set by their documents and do not change. "This arrangement does not create a new exit right."

According to the same FAQ, Larson Financial Holdings describes itself as a wealth platform with "$10B in assets under advisement." It describes Larson Capital Management as its real estate arm, with about $2.5 billion in total project value.

Three platforms

EquityMultiple vs CrowdStreet vs RealtyMogul: how do the platforms compare?

EquityMultiple, Crowd Street and RealtyMogul all changed in 2025 and 2026, each in a different direction.

• EquityMultiple now has one main sponsor.
• Crowd Street (formerly CrowdStreet) sells only large managers' funds.
• RealtyMogul showed no live offerings on October 20, 2026, as the RealtyMogul vs Relli comparison records.

Relli is added as a fourth column. The columns are ordered by how close each platform is today to EquityMultiple before August 2026. That model meant individual offerings from independent sponsors, chosen one at a time.

Which platforms offer more sponsor choice than EquityMultiple?

Relli and Crowd Street offer more sponsor choice than EquityMultiple, among the platforms compared, because both let you choose who manages your money. Relli lists offerings from several independent real estate sponsors. Crowd Street lists funds from large asset managers. RealtyMogul worked with outside sponsors too, but its investment-opportunities page listed none on October 20, 2026. The RealtyMogul alternatives guide covers what happened.

A "curated" platform has reviewed what it lists, which narrows the field but does not remove risk. Relli's review covers each sponsor's background, track record, financials and offering structure, and it is not a guarantee of performance. The guide to vetting a sponsor shows the checks to run yourself.

Alpine Notes

What are Alpine Notes on the EquityMultiple platform?

Alpine Notes are EquityMultiple's short-term notes for accredited investors, with a $5,000 minimum and terms of 3, 6 or 9 months. The FAQ also lists Basecamp, a special edition Alpine Note for first-time investors. It says Equity Multiple, Inc. and Larson "reached an agreement to continue providing" Alpine Notes on the platform. NerdWallet (February 2026) reported no investor fee on the short-term notes.

Investors who came to EquityMultiple for notes rather than for sponsor choice need a different shortlist. The guide to short-term real estate notes explains how real estate debt is structured and where it fails. The Groundfloor alternatives guide covers loan platforms open to non-accredited investors. Relli lists no notes or debt offerings today.

Record check

Is the EquityMultiple platform legit?

EquityMultiple is an established platform with public registration records. The records and the site describe its adviser differently, so check them yourself.

• EquityMultiple's site says it "is not registered as a broker-dealer."
• The site footer describes EM Advisor, LLC as registered with the Securities and Exchange Commission (SEC). The SEC's adviser search on October 20, 2026, listed EM Advisor (CRD 314402) as an exempt reporting adviser.
• Larson Capital Management, LLC, the new operator, is an SEC-registered investment adviser (CRD 301971).
• The September 17, 2026 announcement put EquityMultiple's investor base at more than 64,000 accredited investors.

Both adviser records are free to read on the SEC's adviser search.

What do EquityMultiple reviews say about fees and returns?

EquityMultiple reviews put investor fees at generally 0.5% to 1.5% a year, according to NerdWallet (February 2026). NerdWallet also reported an annual admin fee of $30 to $70 and no fee on short-term notes. The FAQ says fees on existing investments do not change; each new offering sets out its sponsor and terms in its own documents.

Returns vary by offering, and projected returns are not results. Ask for realized figures on exited offerings and how they were calculated. EquityMultiple the company is unrelated to the equity multiple as a return metric, which the equity multiple as a return metric guide explains.

Two profiles

Who should consider Relli or Crowd Street instead?

Relli and Crowd Street suit investors who want a choice of managers rather than one main sponsor, a main reason for leaving EquityMultiple.

Common questions

What do investors ask about the Larson change?

Investors' questions about the Larson change cover ownership, exit rights, Fundrise and the platform's name.

Our approach

Which sources and checks sit behind this page?

Relli checked this page against EquityMultiple's own pages, public registration records and each competitor's own pages on October 20, 2026. The sources were EquityMultiple's FAQ and site, the September 17, 2026 announcement, FINRA BrokerCheck and the SEC's adviser search. For every platform we asked who sponsors new offerings, who can invest, the minimum, how money comes out and what changed recently. Fee ranges from NerdWallet are named in the text.

• Platforms are ordered by how close each is to EquityMultiple's pre-August 2026 model, not scored or ranked.
• No platform paid to be included, and Relli's limits sit beside its strengths.

Because the Larson arrangement is new, we will re-check the FAQ, fees and sponsor lineup when EquityMultiple updates them.