Willow Wealth (Yieldstreet) Review: Fees, Minimums, Who It Fits

The basics

Willow Wealth (Yieldstreet) review: what is it, and how does it work?

Willow Wealth is the new name of Yieldstreet, an online platform selling private market investments to individuals. This Willow Wealth review was checked on October 27, 2026.

Willow's own offerings are funds that its adviser, Willow Asset Management LLC, sets up and manages. Its Form ADV (March 31, 2026) says the adviser picks each fund's investments through a network of originators and sponsors. Some originators are Willow subsidiaries, which can keep a fee and an interest spread.

Since December 2025, the platform has also offered evergreen funds run by Carlyle, Goldman Sachs Asset Management and StepStone, according to Finder. Those managers pick their own holdings.

Willow also owns Cadre. Yieldstreet completed its purchase of Cadre on January 23, 2024, and cadre.com now sends new investors to Willow Wealth. The guide on what happened to Cadre covers its former investors.

Why did Yieldstreet change its name to Willow Wealth?

Yieldstreet changed its name to Willow Wealth in late 2025, around when it began adding large managers' funds to its own deals. Finder reports that the name was announced on October 22, 2025, and took effect in November 2025.

• What changed: Yieldstreet Inc. is now Willow Wealth Inc., and its adviser and broker-dealer carry the Willow name.
• What did not: Finder says the company called it a brand change, not a structural one. Accounts and investments moved over on the same terms.
• Who runs it: CNBC reported that Mitch Caplan, a former E-Trade chief, became CEO in May 2025. He described a new model that also sells funds from firms such as Goldman Sachs and Carlyle.

The Yieldstreet alternatives guide covers where former investors look now.

Trust check

Is Willow Wealth (Yieldstreet) legit?

Willow Wealth is a registered company with active FINRA and SEC records. It also has a settlement and documented losses on its record, so "legit" and "low risk" are separate questions.

• Broker-dealer: Willow Wealth Markets LLC (CRD 172295), FINRA-registered since January 7, 2015. BrokerCheck lists Yieldstreet Markets LLC and RealCadre LLC as former names and shows no disclosures.
• Adviser: Willow Asset Management LLC (CRD 282487), SEC-registered since April 6, 2016. It reported about $1.64 billion in regulatory assets on December 31, 2025.
• Filings: its registered fund and its Regulation A real estate investment trust (REIT) report on SEC EDGAR.

On September 12, 2023, the SEC settled charges that Yieldstreet failed to disclose collateral risks in a 2019 ship-deconstruction offering. Yieldstreet agreed to pay more than $1.9 million without admitting or denying the findings. Its Form ADV says it agreed to pay about $1.32 million to investors and waive about $600,000 in fees. Willow says it has not offered marine-asset securities since 2019.

In October 2024, Yieldstreet agreed to pay $6.2 million and waive fees to settle an investor class action over ship-scrapping investments in federal court in Manhattan, Bloomberg Law reported.

On December 5, 2025, CNBC tallied at least $208 million of investor losses: $78 million first reported in August, $89 million in marine loans disclosed in September, and $41 million in new real estate defaults. A Willow spokeswoman called the report a rehash of investments from five years ago that are a very small portion of its portfolio.

Minimums

What is the Willow Wealth minimum investment, and who can invest?

The Willow Wealth minimum investment is about $10,000 for most deals and outside funds, and $25,000 for the Willow 360 managed portfolio. Is Yieldstreet only for accredited investors? For new primary offerings, yes: its Form CRS (May 8, 2026) says its broker-dealer places them with accredited investors.

Relli found no Willow product open to new non-accredited investors. Willow's website blocked automated checks, so confirm on each offering page. The accredited investor guide explains the income and net worth tests.

Per the Form ADV, the short-term notes are secured by all of the notes fund's assets. See private real estate credit for how such lending ranks.

Fee layers

What are Willow Wealth's fees?

Willow Wealth's fees come in layers: a one-time placement fee, yearly fund fees and, on some deals, a share of profits. Its Form CRS says you pay these "whether you make or lose money." The Form ADV ranges:

• Placement fee: on certain offerings, 1% to 4% of your commitment goes to Willow Wealth Markets. The Form CRS says it is not expected to exceed about 4%.
• Management fee on deal funds: generally 1% to 3% a year of capital contributed. CNBC found 2% a year typical for real estate offerings.
• Incentive fee: generally 1% to 20% of profits, sometimes only after a preferred return of 6% to 15%.
• Borrower-payment-dependent note funds: a management fee of generally 1% to 2.5% of note principal. The short-term notes fund pays no management fee.
• Access fee: generally 0.25% a year of contributions. Some funds instead charge $100 to $150 a year or 0.25% to 0.50% for expenses.
• Willow 360: a yearly advisory fee on assets, rate not stated in the Form ADV, plus each fund's own fees.
• Outside managers' funds: CNBC reported in December 2025 a Willow fee of about 1.4% a year, and all-in costs of about 3.3% to 6.7% a year per fund.
• Willow Wealth IRA: $299 to $399 a year.

Willow affiliates can also keep borrower-paid fees and up to 20% of a joint venture operator's promote. The guide to sponsor fees and the promote explains those terms.

Track record

What are Yieldstreet's returns?

Yieldstreet's returns are public for two funds that report to the SEC, each with its own date and caveats.

• Alternative Income Fund: total returns of 3.04% for 2025, 7.51% a year over 3 years, 6.10% a year over 5 years and 6.02% a year since its March 9, 2020 start, all to December 31, 2025, net of fund expenses. Its 2025 expense ratio was 3.39% after waivers, excluding income taxes (3.83% including them). The report notes past results do not predict future ones.
• Growth & Income REIT: it raised about $44.18 million from about 4,000 investors. Its net asset value was $4.14 per share on June 30, 2026. Its filing says the fund is winding down and investors are expected to have a negative return.

For the platform as a whole, CNBC reported on December 5, 2025, that Willow removed a chart from its site. The chart showed real estate returns of negative 2% a year from 2015 to 2025, down from 9.4% two years earlier. Nine of the 30 real estate deals CNBC reviewed were in default.

A Willow spokeswoman told CNBC that it gives strategy-specific performance at the offering level.

Getting out

How do you get money out of Willow Wealth?

Getting money out of Willow Wealth usually means waiting for each investment to end. Finder says investors generally cannot sell before a deal's term ends.

• Willow 360: no withdrawals or changes for at least one year after enrollment, per the Form ADV, which also lists withdrawal limits and early withdrawal penalties.
• Outside managers' funds: each fund's own repurchase rules.
• Growth & Income REIT: redemptions suspended indefinitely since August 8, 2024.
• Alternative Income Fund: buybacks were capped at 5% of shares a quarter. Holders approved a reorganization on July 31, 2026. Mount Logan's Opportunistic Credit Interval Fund (SOFIX) took on about $130 million of its assets, and the fund distributed to holders on August 24, 2026.

Finder reports that holders received SOFIX shares, so SOFIX's rules now apply. See selling private real estate early.

Investor reviews

What do Willow Wealth reviews say?

Willow Wealth reviews on Trustpilot gave a TrustScore of 2.4 out of 5 on October 27, 2026, and the BBB rated the company B-.

• Trustpilot: a TrustScore of 2.4 out of 5 from 68 reviews, 72% of them at the lowest score. Willow claimed the profile in November 2025.
• Better Business Bureau: a B- rating, not BBB-accredited, with 21 complaints in the last 3 years and 3 in the last 12 months. The BBB cites 2 unanswered complaints.

Trustpilot shows Willow replied to 11% of negative reviews.

Fit and options

Who is Willow Wealth for, and how does it compare with Relli?

Willow Wealth may fit investors who want many alternative asset types in one account.

• May fit: accredited investors seeking credit, art and real estate from about $10,000, or a managed portfolio from $25,000.
• May want something else: non-accredited investors, anyone needing the money within a few years, and those who want to question a deal's sponsor directly.

Relli's limits are real: fewer offerings, higher minimums, and offerings mostly for accredited investors. See funds vs syndications.

Before you invest

What should you ask before investing with Willow Wealth?

Before investing with Willow Wealth, ask for numbers on the one offering you are considering. Willow's Form CRS suggests the first question.

1. If I invest $10,000, how much goes to fees and costs, and how much is invested?
2. Did a Willow affiliate originate this deal, and what fee or spread does it keep?
3. Who is the sponsor or operator, and how have its past deals with Willow performed?
4. When can I get money out, and what lock-ups or penalties apply?
5. If I hold old Yieldstreet or Cadre investments, who reports on them now?

See how to choose a real estate investment platform for the same checks on any platform.